Menzgold collaborating with government institutions - Management

BY: Kweku Zurek
Menzgold collaborating with government institutions - Management
Menzgold collaborating with government institutions - Management

The management of gold trading firm, Menzgold Ghana Limited has disclosed that it is in consultation with all the relevant government institutions regarding its business operations.

The operations of Menzgold has over the past year come under scrutiny from some regulators including the Bank of Ghana (BoG), the Securities and Exchange Commission as well as the Precious Minerals Marketing Company (PMMC) who have threatened to sanction them.

Matters came to a head last week, following a BoG notice which stated that the company is breaching section 6 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). The CEO of Menzgold, Nana Appiah Mensah was also invited for questioning by the Economic and Organised Crime Office.

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However, Menzgold has in a statement assured that as a law-abiding business it was in consultations with all the relevant government institutions to resolve all differences.

Urging all their customers to remain calm, they added that the consultations will ensure that a more robust system which will be created to protect their interests.

"As a law abiding institution, we are in consultations with all relevant Government Institutions to iron out all possible quandaries and come out with a more robust system that will serve you even better and ensure that all your interests are well secured and protected," the statement said.

"We call for calm in these moments and assure all customers and potential customers that Menzgold is here to stay," the statement urged.

The statement also commended customers of Menzgold for their relentless show of support, urging them to disregard any and all negative and unbalanced media reportage about the firm.

"Menzgold Ghana would also like to call on our customers to disregard any and all negative and unbalanced media reportage. Rest assured we are following all matters with keen interest and will react at the appropriate time".

The CEO of Menzgold, Mr Mensah has also apologised for branding the BoG as a 'joke'.

Read the entire statement below;

Interesting as the last few days have been, the Management of Menzgold Ghana would like to thank its cherished customers for your continuous partnership and faith in us.

Your relentless show of support in these trying times have strengthened our business and renewed us with fresh energies to serve you even better.

We assure you of our unwavering resolve to deliver the best in our line of business and just as we never have, we will not fail to deliver on our mandate.

Menzgold Ghana would also like to call on our customers to disregard any and all negative and unbalanced media reportage. Rest assured we are following all matters with keen interest and will react at the appropriate time.

As a law abiding institution, we are in consultations with all relevant Government Institutions to iron out all possible quandaries and come out with a more robust system that will serve you even better and ensure that all your interests are well secured and protected.

We call for calm in these moments and assure all customers and potential customers that Menzgold is here to stay.

God bless you and God bless Ghana.

Signed

Management, MENZGOLD GHANA