Menzgold prepares ‘comprehensive, final payment plan’ to settle all

Menzgold Ghana Limited has given the clearest indication yet that it is meeting all stakeholders in order to agree on a payment plan to have all customers settled once and for all.

The Acting Communications Director of the gold-trading firm told TV3’s Ebenezer Agyekum in an interview on Wednesday that the schedule being drafted is expected to have all customers settled.

Nii Armah Amarteifio indicated, however, that only principals will be paid, just as was agreed at a meeting with customers in 2018.

“We can’t pay extra values,” he pointed out.

Events after the shutdown of Menzgold Ghana Limited in September, 2018 have led to the court issuing a bench warrant for the arrest of all directors of the company, in the name of President Nana Addo Dankwa Akufo-Addo.

Customers have staged separate demonstrations across the country, demanding payment of their deposits.

Mr Amarteifio revealed that the behind-the-scenes engagement with stakeholders involves the board of the company.

“Immediately we are done, then we will come out with the final payment schedule that will now spell out when we are going to pay our customers,” he noted.

He lamented the company’s inability to follow payment plans issued last year, blaming the situation on the challenges it went through.

Menzgold duly apologized to its customers, he observed.



“That is why this time around we are taking our time [and] being extremely circumspect to come out with the final payment schedule.

“That is why we are engaging the stakeholders. That is why we are engaging the board to sit down to really come out with a comprehensive final payment plan.”

He noted that the company will not come out with any notice until the stakeholders are fully done with the engagement.

“This is something that we have promised to come out with [and] then we will follow it through so that we pay everybody till the end and then this problem will be solved.”