How government plans to repay Menzgold customers

The customers of Menzgold Ghana Limited have been given the best relief that has eluded them for some time now in their quest to recoup their deposits from the embattled gold dealership firm.

The Minister of Finance, Mr Ken Ofori-Atta during an interaction with officers of the Ghana Armed Forces (GAF) at the Burma Camp in Accra on Friday, February 22, assured the officers that the assets of Menzgold CEO, Nana Appiah Mensah will be liquidated to repay the deposits of the clients of the troubled company.

He said the government was in the process of liquidating properties and assets of Nana Appiah Mensah to repay the clients of the firm who are due over GH¢200 million.

ALSO READ: Revealed: ¢200m locked up in Menzgold

“I think we have come up with the realisation that maybe over 200 million… is outstanding… He [Nana Appiah Mensah] has been apprehended in Dubai and I am sure a committee will be put together to see how to liquidate and whatever it is that can be found can be given to those who gave money,” Mr Ofori-Atta said.

“But, government is not going to be spending for issues of this nature where we are very clear that it is not licensed and you know the risks that you have taken”.

The Finance Minister’s explanation on Friday was in response to an appeal by some soldiers who had invested in Menzgold and had used the opportunity of an interaction with President Akufo-Addo at the Burma Camp to call on government for help.

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