'Groupe Nduom has no investments with Menzgold'

'Groupe Nduom has no investments with Menzgold'

- The Management of Groupe Nduom has discounted social media speculation that it has investments with Menzgold

- According to the GN, neither Groupe Nduom nor its subsidiaries, has made any investment with Menzgold Ghana Limited

The Management of Groupe Nduom has strongly refuted reports suggesting it holds investments in Menzgold Ghana Limited.

GN Bank, a subsidiary company of Groupe Nduom, was recently demoted to a Savings and Loans Company by the Bank of Ghana.

This was after the bank failed to meet the mandatory minimum capital of GHC 400 million.

READ ALSO: Top NPP, NDC members invested $2m and $3m in Menzgold – Report claims

In the aftermath, speculations emerged that Groupe Nduom, owned by politician Papa Kwesi Nduom, invested part of its funds in Menzgold.

However, in a statement signed by its Head of Corporate Affairs, Frank Owusu-Ofori, Groupe Nduom said such reports are false.

We wish to state unequivocally, that neither Groupe Nduom nor its subsidiaries, has made any investment with Menzgold Ghana Ltd,” sections of the statement reads.

Menzgold has been in the news in recent months following for failing to pay monies owed customers.

YEN.com.gh earlier reported that some aggrieved Menzgold customers in Kumasi went on a demonstration against the company.

They had defied police orders to postpone the demonstration and staged a violent one on Tuesday, January, 8, 2019.

READ ALSO: Criminal Investigations Department denies claims that NAM1 was arrested and has absconded

Read the full statement by Groupe Nduom below:

Groupe Nduom has NO INVESMENT in Menzgold

The attention of Groupe Nduom has been drawn to some social media commentary, attempting to suggest Groupe Nduom has invested part of its funds in Menzgold Ghana Limited.

We wish to state unequivocally, that neither Groupe Nduom nor its subsidiaries, has made any investment with Menzgold Ghana Ltd.

Signed

Frank Owusu-Ofori

Head, Groupe Nduom Corporate Affairs

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Source: Yen.com.gh

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