President and Chairman of Groupe Nduom (GN), Dr Papa Kwesi Nduom has expressed shock at the demonstration organized by customers of Gold Coast Fund Management over their locked up funds.
According to Dr Nduom, it was startling the demonstrators attacked his personality when the company has taken steps to repay customers to the tune of over GHc200 million.
In a post on Facebook, Dr. Nduom said: ”Everyday our central office calls people and they are paid through the banks or MOMO. I agree the pace is not fast as we all wish to cover everyone. But the company is making payments UNLIKE several investment and finance houses who are not able to do as we are doing.
So where from this “demonstration” and the attacks on me personally? To want to destroy the very businesses customers expect their monies to come from?”
The customers on Tuesday held a demonstration demanding their funds
Hundreds of aggrieved customers of Gold Coast Fund Management (GCFM), now rebranded Blackshield Fund Management, have embarked on a demonstration in Accra to compel the management of the firm to pay them their locked-up capital.
Dressed in red attire, headgear and armbands, the vexed customers marched through some principal streets of the capital while carrying placards some of which read: “Mr, President, over 800,000 innocent Ghanaians are dying because of Nduom”, “Dr Nduom, bring back the money of pensioners”.
Read Below his full post from Dr Nduom
Demonstration against Payment of Investment?
This morning, there was a “demonstration” not against the company people invested their monies with but against me, Papa Kwesi Nduom. And it is unfortunate. GCFM now BlackShield accepted monies for investment as it had done successfully for 25 years. No one has lost their investment all these years.
The company has invested funds with good results and the customers have enjoyed good returns.
Unfortunately, one of the investments made has had challenges – the prefinancing of government infrastructure projects. Something that had been done successfully for 15 years and over that period about 14 billion Ghana cedis has been invested in schools, roads, bridges, sea defense and other important projects.
This is the area the company has faced challenges because the government agencies have not paid the contractors who now owe about 2.4 billion Ghana cedis.
We have even gone to court to redeem some of these investments.
While we wait for the big monies to come in, we have been making payments to customers – direct cash and asset swaps now to the tune of over 200 million Ghana cedis.
Everyday our central office calls people and they are paid through the banks or MOMO. I agree the pace is not fast as we all wish to cover everyone. But the company is making payments UNLIKE several investment and finance houses who are not able to do as we are doing.
So where from this “demonstration” and the attacks on me personally? To want to destroy the very businesses customers expect their monies to come from?
We will continue to make planned payments until everyone is satisfied.
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Yes, some are just doing politics with this no doubt. But we are serious about our business.
Everyone will be paid. Not everyone at once. But no one will lose their investment.
As for the insults, too bad. But after all, this is the Ghana we are in.
