Aggrieved Menzgold Customers Demand Government Bailout


The Coalition of Aggrieved Customers of Menzgold is urging the government to provide a financial bailout to help them recover their locked-up investments. This follows the customers' continued struggles to retrieve their funds after the company's collapse.


The group referenced the recent GHC 1.5 billion bailout granted to Ghanaians affected by the financial sector cleanup, as well as a GHC 2 billion fund allocated to the Securities and Exchange Commission (SEC) in 2020, emphasizing that similar support should be extended to them.


Fred Forson, the convener and public relations officer for the Coalition, expressed frustration over the group's numerous unsuccessful efforts to reclaim their investments. He attributed the delay to the actions of Nana Appiah Mensah (Nam1), the CEO of Menzgold, and his associates. Forson criticized them for what he described as "deliberate wickedness and evil intentions" in withholding the customers' funds.


"The fact that Nam1 and his cohorts continue to deny us access to our investments is driving customers into daily distress," Forson said. He further called on the government to establish a special office to oversee the payment of funds to affected customers.

One of the aggrieved customers, Stephen Aboagye, who is physically impaired, made an emotional appeal to President Nana Addo Dankwa Akufo-Addo, asking for urgent intervention to release their funds. Aboagye stressed that the money was needed to cover critical medical expenses.


The Coalition remains hopeful that the government will respond to their plea, just as it has supported others affected by the financial sector crisis. They believe that justice must be served for the thousands of individuals who have been financially devastated by the collapse of Menzgold.

Story by Mizpah Ampem Darko.

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