Kumasi: Menzgold customers stage another demo

Some customers of Menzgold Ghana Limited have vowed to stage another demonstration in Kumasi, the Ashanti regional capital of Ghana.

The customers are protesting due to their inability to access their locked up funds at the gold dealership firm.

The protestors have blocked roads at Amakom and other parts of Kumasi burning tyres to express their anger. They are also calling on government to come to aid and help them access their locked up cash.

Several efforts by the customers targeted at the company to get their monies have failed to yield any positive results.



Customers of Menzgold since July last year, been demanding the payment of their principal investments after the gold dealership company was instructed by the Securities and Exchange Commission to halt their gold trading operations.

Meanwhile, the Police in the Ashanti region have ordered the aggrieved customers to back down on their plans to protest since they did not the necessary permit.

According to a statement by ASP Godwin Ahianyo, any person who hits the street to protest will be dealt with according to the law.

According to the SEC, Menzgold had 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 was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”

Source:Starrfmonline.com