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Comment: WHY IS SEC NOT GIVING MenzGold their license?

2018-09-12 21:18:37

The info on the block is the company had applied for their license but the SEC had refused them their license because their business model cuts out the institutions. The model allows MenZGold to take money from investors to buy gold directly from the small scale miners and turn around and sell it abroad for high profits. And they share the profits with the clients who invested. Thats why they could pay very high dividends.

Therefore why kill a good company that is enabling Ghanaians to trade their own gold and make money? Must the old model where government sits on all the gold transactions as front men for peanuts for big multinational companies be maintained as all cost? They are raking all profits away to foreign lands and Ghanaians are cut out.

Our institutions aid and abet in this sordid situation so why are Ghanaians not enraged? Is this right?
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NiiAddotey1 on 09-12 21:18
WHY IS SEC NOT GIVING MenzGold their license?