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Menzgold Clients Angry At Gov’t.


Spontaneous demonstrations  erupted in parts of the country Friday morning as angry investors who have gold deposits with Menzgold pleaded with President Akufo-Addo to  intervene in what they described as an agenda to close down the gold trading company.

“We want to ask the President to rethink the approach and style his government has adopted against Menzgold and what the country stands to benefit if the company is closed down. We may have to resort to prostitution to cater for ourselves and our families if this company is shut down because the dividends we get from our investments has been our main source of income for the past years as there are no available jobs for us to do”, one of the angry demonstrations yelled into the recording devices of journalists at Kasoa, a densely populated community at the outskirts of Accra.


Several of the demonstrators, mostly market women and traders, were clad in red colours with red head bands.  A handful of young men among them, carried placards some of which read “create, don’t destroy jobs”, “Don’t Destroy Menzgold Like The 7  Banks” and “NPP This Is Not What You Promised Us”

The angry protesters,  were seen throwing their hands into the air and wagging their indeed fingers while they yelled all manner of invectives against Rev. Daniel Ogbamey Tetteh, Director General of the Securities and Exchange Commission (SEC), who they accused of being used as a hatchet man against Menzgold by some persons in government.

SEC, during the week, wrote to Menzgold, ordering the company to close down its operations or face the wrath of the Commission.

The letter explained that Menzgold ought to have a license from SEC before the company can engage in gold trading and investments.

Menzgold, accordingly, has closed operations but that was after the company issued a press statement that accused SEC of bad faith and truncating amicable negotiations midway.


It is not clear why the traders fingered Rev. Obgamey, a respectable financial consultant that who occupied a senior management position in Ken Ofori Atta’s Data Bank before he was appointed to SEC when the New Patriotic Party (NPP) won the presidential polls and Mr. Ofori Atta made Minister for Finance.

Many have also opined that Nana Appiah Mensah (NAM-1), owner of Menzgold, in recent times, has become overly popular among the youth and somewhat cheeky in his social media posts in reference to some government appointees therefore the decision to use political power to instill the ‘fear of God’ in him


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