Databank CEO reveals Menzgold’s collapse has negatively affected business

Databank CEO reveals Menzgold’s collapse has negatively affected business

- The CEO of Databank Financial Services Limited, Kojo Addae-Mensah, has stated that Menzgold Ghana's collapse has negatively affected business

- According to him, customers are scared and are withdrawing deposits in an unusual manner

The Chief Executive Officer (CEO) of Databank Financial Services Limited, Kojo Addae-Mensah, has claimed that the collapse of Menzgold Ghana Limited, has negatively affected business.

According a report by Starrfm.com.gh, he explained that the Menzgold saga has scared some Ghanaians, resulting in increased withdrawals of investments.

The basis for their actions, he went on, is the fear of the loss of their investments, as it happened with Menzgold.

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In that respect, he went on, Databank is embarking on confidence-building measure dubbed ‘Time with the CEO’ to assure customers that their investments are safe with them.

In September 2018, The Security and Exchange Commission (SEC) ordered a shutdown of Menzgold, due to regulatory infractions.

Since then, attempts by some customers to retrieve their investments from the firm has proven futile.

A number of soldiers, who have investments with Menzgold, have however pleaded with President Akufo-Addo to intervene in the matter.

The CEO of Menzgold, Nana Appiah Mensah, is meanwhile facing charges in the United Arab Emirates, because of a business deal.

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Source: Yen.com.gh

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