Dancehall artiste, Stonebwoy, is worried over the future of his record label, Zylofon Media, over the Menzgold brouhaha.
According to him, companies such as Zylofon Media and Zylofon cash which gets financial support from Menzgold could be in financial distress, a situation he feels unhappy about.
“Mother company Menzgold, we all know and trust that it is a gold trading company that seeks to have people buy gold and trade gold with them. Sincerely Menzgold has financed and I’m sure that it has always been the foundation of all the other handles, Zylofon Media, Zylofon cash etc. It’s actually true that since the mother company which is the foundation is trembling now, there’ll definitely be shake-ups in these organizations and it worries me,” he said on Starr Fm.
Stonebwoy, who is one of the top artistes signed by Zylofon Media, also owned by the Menzgold boss, Nana Appiah Mensah, believes Menzgold has really helped Ghanaians through its investment and the media.
“Ghanaians saw the way the movement was and how it was helping Ghanaians and really continues to help Ghanaians both from the media side and the Menzgold side where people could buy and trade in gold to get dividends from 10%,” he said.
Menzgold has assured its customers who wish to terminate their investment transaction with the company of full payment of their principal in 90 days.
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In a statement that was released and signed by Head of Communications of the company, Nii Amarh Amartefio, Menzgold said, “should Menzgold succeed in reaching an amicable resolution with the authorities, customers wishing to continue trading with Menzgold are free to exercise the option of continuing to trade with us. Similarly, customers wishing to terminate their business with Menzgold are free to do so and should be rest assured of their full payment in 90-days as stipulated."
Meanwhile, Menzgold has taken legal action against the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) following weeks of inconclusive discussions.
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