The Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah (NAM1) has finally accepted that embattled gold dealership firm, Menzgold Ghana Limited is in crisis and now in difficult times.
Menzgold agreed at a crunch meeting between the firm, customers and stakeholders on October 7, 2018 at Korkdam Hotel that there would be no payment of dividends as earlier suggested.
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During the said meeting held around 3:00 pm, it was generally agreed that due to the challenges faced by the company and the fact that customers are no longer interested in dividends, it was wise to scrap the dividends,” a statement from Menzgold said.
However, in a tweet by the CEO of Zylofon Media said, I ACCEPT THE CHALLENGE. Let’s get the clockticking…
Menzgold Ghana Limited was asked to suspend its gold trading operations with the public by SEC. According to the SEC, Menzgold has been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.
This, the SEC said, is in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.” The company was however cleared to continue its “other businesses of assaying, purchasing gold from small-scale miners and export of gold.”
Source: William Kabutey Dosoo
