Menzgold to resume full operations on November 5

Menzgold to resume full operations on November 5

Embattled gold dealership firm, Menzgold, will commence full operations on November 5, 2018.

The company confirmed the latest development via a press release signed by the acting communications director of the company, Nii Armah Amarteifio, which has been sighted by YEN.com.gh.

In the press release, the company said they could return to full operations on or before November 5.

Menzgold to resume full operations on November 5

Menzgold to resume full operations on November 5 (Photo credit: supplied)

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The company said it will launch a new gold/collectibles trading product that would make it possible for existing transactions to be migrated onto that platform for immediate and prompt extra value and principal payments.

The statement also said the management is yet to decide on the percentage to be paid to its existing customers who have expressed their desire to terminate their investments with the company.

The percentage, once agreed, will be paid directly into the accounts of all customers, Menzgold said.

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The company has been unable to pay its clients their dividends due to an ongoing battle with the Security and Exchanges Commission (SEC) and the Bank of Ghana over its operations. While the state institutions say the company has not been licensed to take deposits, Menzgold insists it does not take deposits and does not answer to the two institutions.

Meanwhile, some aggrieved customers of the company have vowed to seize the properties of Becca and Shatta Wale.

According to the group, their investments have been spent on Shatta Wale, Becca, and Benedicta Gafah, as well as other signees of Zylofon Media, therefore, they would seize their assets till their principal have been paid them.

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Source: Yen.com.gh

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