Menzgold customers declare support for NDC

The aggrieved customers of Menzgold say they believe a future NDC administration can retrieve their locked-up investments

Some customers of defunct gold dealership firm, Menzgold, have declared their support for the National Democratic Congress (NDC) flagbearer, John Mahama, in the lead-up to the 7 December polls.

According to the aggrieved customers, they believe a future NDC administration can retrieve their locked-up investments.

At a press conference in Kumasi, the group, known as the Coalition of Aggrieved Customers of Menzgold, accused the Akufo-Addo administration of neglect after several attempts to get their funds yielded no positive results.

The National Vice Chairman of the group, Francis Owusu, said their aim is to garner 600, 000 votes for the NDC on 7 December in the Ashanti Region.


The Securities and Exchange Commission (SEC) ordered the shutdown of the gold-trading firm across the country on 12 September 2019.

It also stopped the company from taking on new investments.

SEC further stopped Menzgold from publishing or broadcasting all adverts related to its activities.

SEC indicated that upon evaluation of the documentations of Menzgold, the company did not have the licence to deal in gold-trading, citing that its operations breached Act 929 and as well, posed “a threat to unsuspecting and uninformed investors”.

SEC had further warned in a notice on Saturday, 7 September 2019, that if the company failed to comply, the Commission enforces the directive by taking “measures under the law.”

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