Menzgold not collapsing, we’re bouncing back stronger – NAM 1

Menzgold not collapsing, we’re bouncing back stronger – NAM 1

The Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, popularly known as NAM 1, has assured customers of the embattled company that Menzgold will not collapse.

According to him, the company is bouncing back stronger as they are working assiduously to address all the challenges they’re faced with.

In an interview on his Zylofon FM on Monday, Mr. Appiah Mensah said they are engaging with the various stakeholders to amicably resolve the outstanding issues affecting the company’s operation.

He, however, did not state emphatically when the thousands of their stranded customers will get the value on their gold or be given their entire investments.

“I believe that with every issue, dialogue can resolve it. We are all Ghanaians, and we are working for Ghanaians in good faith. We have hopes that this issue will end peacefully and all stakeholders will help us,” he said.

He indicated that, although the processes for the resolution of the company’s challenges may take a longer period, he is certain that the company’s operation will return to normalcy soon.

“I believe the authorities are listening, they are for Ghanaians. It may be long, but I believe all these will be resolved soon. We’ll follow the due processes… Menzgold will have a great rebound and will be more exciting than the previous 5 years,” NAM 1 assured.

Current challenges have slowed our big vision

Nana Appiah Mensah indicated that, the unforeseen challenge to the gold business has greatly affected the company’s vision to be a major player in the gold trading business on the international market.

He revealed that the company planned to supply about 2 tons of gold with some partners in Switzerland and eventually connect with the Swiss Bank before moving to join the London Bullion Market Association, and then list on the Toronto Stock Exchange.

According to him, the vision would have made the company more profitable and enabled it to bring in more money to be invested in various companies and ventures that will reduce unemployment in Ghana.

“We had a vision, that but for what had happened, by the end of 2018 we should have supplied about 2 tons of gold to strategic contacts in Switzerland, and get a deal with the Swiss Bank, and then get to the London Bullion Market Association, and then list the company on the Toronto Stock Exchange to make it bigger and more profitable to establish more businesses in Ghana so that many unemployed persons can be employed, but in all things we thank God,” he said.

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