Naked demonstration hits Menzgold

Naked demonstration hits Menzgold

Some aggrieved customers of Menzgold Ghana Limited in the Ashanti region have threatened to embark on a naked demonstration following the company’s inability to pay them their capital and accrued interests.

The gold dealership firm has been in the news in recent months following disagreements with the Bank of Ghana (BoG) regarding its operations.

The latest development is the order from the Securities and Exchange Commission (SEC) to have the company shut down its gold trading activities.

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Management later released a timetable which would be used to pay all customers their dividends. This sparked panic withdrawals from some concerned investors who besieged the company’s offices after the payments dates were postponed twice.

However, on Monday, Menzgold again announced that customers who would decide to terminate their engagement with them will receive the full amount of their investments in 90-days.

But some aggrieved customers of Menzgold in the Ashanti region are demanding that their monies be released to them immediately.

Some of the customers are reported to have stormed the Amakom branch of Menzgold, located in Kumasi, to demand their investments.

They threatened to stage a naked demonstration against the gold dealership firm if their capital and accrued interests are not returned to them.

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This comes after another angry group of customers gave Menzgold a four-week ultimatum to pay them at least 50% of the accrued interests on their investments.

Calling themselves the ‘Aggrieved Traders of Menzgold’, the over 200 customers organised a press conference on Wednesday to drum home their concerns.

They also want Menzgold to pay up the rest of the interests on their investments within a period of 90 days.

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Source: Yen.com.gh

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