Embattled gold dealership firm, Menzgold Ghana Limited has said it will begin paying its clients part of their initial gold collectibles value from Friday (November 9).

In a press statement Sunday, Menzgold explained its intent was to pay off the entire amount in 90 days from their previous release.

“As promised, we are glad to indicate that, fifteen percent (15%) of the initial gold collectibles values committed to the buying and selling on the Menzgold 'Gold Vault Market' would be paid beginning 9th November, 2018…”

“These 15% percent termination payments would be made via bank transfers into beneficiaries’ bank accounts following a well-structured 'transactions schedule'," the statement said.

The statement explained that the schedule will take into consideration the date of trade commencement of clients, “whether a trader did receive any extra value payment since the trader’s trade commencement or not, how long the trader has been buying and selling gold collectibles on the Gold Vault Market, the total quantity and value of gold collectibles put up for trade on the Gold Vault Market, and the extra value payments frequency received by each trader since the trader’s gold buying and selling tenure on the Gold Vault Market”.

The statement also noted that Menzgold on Monday will launch an online platform known as Menzgold Global Market.

“Traders on the 'Gold Vault Market' which is an offline gold market, that has been plagued by the antecedents in the last two months, are advised to migrate onto the global online market at a fee,” the company advised.

This, the Menzgold says “would keep customers’ gold buying and selling business actively in session on the online-market, to forestall any payment impediments in the subsequent months”.

“May we also express our heart-ache and the excruciating pain we feel, sharing in our cherished customers’ distress over the unpleasant matters in the last two months”.

“We however, assure our dear customers of our dedication to one cause only, which is our resolve to not rest or relent, until we offer them the best of service and satisfaction,” the statement said.