Menzgold clients angry; firm says 15% payment being done by schedule

Some customers of Menzgold Ghana Limited, who thronged the gold-trading firm’s Dzorwulu office on Friday 9, November 2018 with the expectation of receiving 15 percent of their principal investments as promised them by the company last week, were left disappointed as they say the embattled company appears to be only interested in migrating its customers onto its new online product rather than paying them their principal.

Menzgold recently launched a new gold/collectibles trading product that would make it possible for existing transactions to be migrated onto that platform for immediate and prompt extra value and principal payments.

This was contained in a press statement signed by Nii Amarh Amateifio, Acting Head of Communication of the company.

However, some customers of the firm have said not a single person has been paid their principal as promised on the due date.

A customer who said she had been at the operation hall of the gold-trading company for two hours, told Accra-based Citi FM that: “I’ve not seen a single person who said he’s been paid, they are not paying anybody. I was one of the first people who entered there and I’ve not seen anybody paid.”

She added: “Menzgold is not telling us anything, they are just concentrating on those who are migrating, not those who are terminating. I have terminated like two months ago”.

Another customer who also shared her experience said: “Nothing is really happening in there; they’re not paying anybody. I don’t think they’ll pay. They’re just buying time, as usual.”

However, Mr Amarteifio explained to ClassFMonline.com that the clients complaining are those who do not fall within the current payment schedule.

According to him, since all those terminating their investments cannot be paid at the same time, the company sends messages directly to those clients to come for their money according to a planned schedule.

Mr Amarteifio, therefore, urged the aggrieved clients to exercise restraint as Menzgold works to pay them their due.