There has been a massive demonstration against the management of Menzgold by disgruntled customers who are calling for the repayment of their money invested with them despite numerous assurances from Menzgold management.
Menzgold has received a lot of negative publicity in the news recently due to their inability to fulfil their part of obligation of a contract signed with their customers to pay them monthly.
The customers had been threatening to demonstrate amidst postponement of assured dates to pay them their monies including a chance to abrogate the contract. However, that arrangement was contrary to the contract signed.
A customer interviewed by Cencord News, could not hide her frustration about what is happening to her investment. She said: “My brother, I have invested GHC 60,000. I was not even paid for two months and the money was given to me by my boyfriend who is in abroad to build for him. I’m dying slowly, I’m dying slowly”.
Menzgold’s problems started when the Security and Exchange Commission (SEC) wrote to them not to accept deposits as their business activities sin against the laws of Ghana.