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'Groupe Nduom has no investments with Menzgold'

BY: graphic.com.gh
'GN Bank has no investments with Menzgold''GN Bank has no investments with Menzgold'

The Management of Groupe Nduom has discounted social media speculation that it has investments with embattled gold dealership firm, Menzgold.

On Friday, January 4, 2019, the Bank of Ghana announced that GN Bank had opted to become a Savings and Loans Company after it failed to meet the mandatory minimum capital of GHC 400 million.

Commentary on social media suggested that failed investments by GN with Menzgold had accounted for this.

However, a press statement signed by the Head of Corporate Affairs at Groupe Nduom, Frank Owusu-Ofori stated that neither Groupe Nduom nor its subsidiaries, has made any investment with Menzgold Ghana Limited.

Below is the press statement by GN Bank;

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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