Attack from clients forced shut down – Menzgold

Attack from clients forced shut down – Menzgold
Source: Ghana| | Naa Sakwaba Akwa | E:
Date: 05-10-2018 Time: 01:10:20:pm

Gold trading firm Menzgold, says fears of an of attack from some of its clients has forced it to shut down.

The firm had scheduled to pay dividends to its clients Friday, October 5, 2018, but checks by Joy News reveal all offices of the company have been closed.

Emmanuel Dzivenu was at the East Legon branch at midday and reported that there was no activity at the premises.

“There are notices on the building indicating that they have ceased operations until further notice,” he reported.


According to him, there was a police patrol vehicle with two officers in it at the time of his visit but no worker of the firm was present.

Related: Menzgold sues BoG, SEC for poking noses where it does not belong

Deputy Head of Communications, Nii Armah Amartefio told Joy FM’s the company has not completely shut down.

He said although they had planned to pay customers as stipulated in the payment schedule, news about attacks on some of the company’s staff on Thursday, caused the temporary closure.

“We were in a meeting when we started having information that some of our staff members had been attacked by customers and based on that we decided that doing business today will not be favourable. That is why we decided today and not operated,” he said.

Mr Amartefio, however, said text messages have been sent to the customers and they are being engaged. He promised a new date will be announced.

We are having an engagement with them to discuss the way forward in terms of how to pay everybody. So, if we reach an agreement by close of day Friday, we will come out with a communiqué regarding when we will resume payment,” he said.

He assured customers that “their investments are safe, no one is going to lose their investments.”

Menzgold is in a tussle with the Securities and Exchange Commission (SEC) and the Bank of Ghana (BoG) over claims it is operating a business not covered by an operating license.

But Menzgold insists its services do not breach any regulation.