Aggrieved customers of the defunct Gold Coast Fund Management have described the former New Patriotic Party (NPP) government as “thieves”, accusing it of failing to protect their investments following the collapse of the financial institution.
The customers said they invested their savings with Gold Coast Fund Management with the expectation that the money would support their families, children and grandchildren, only to lose access to their funds after the company’s licence was revoked.
According to them, the government at the time, led by former President Nana Addo Dankwa Akufo-Addo, promised to refund their locked-up funds. However, years later, many customers are still waiting for their money.
One of the aggrieved customers, who said he was an NPP supporter at the time, expressed frustration over the situation.
“I even stood and campaigned for President Mahama, even though I am part of the opposition party, the New Patriotic Party. But right now, if you give me the New Patriotic Party, I would send it to Bola because they don't help people. They are thieves,” he said.
'GoldBod has no mandate to sell and auction foreign currency' – Dr Amin Adam
The customers said they were particularly disappointed because many of them were pensioners who invested their savings to secure their future.
They said the loss of their investments has left some struggling to meet basic needs, including medical expenses.
“Most of them are pensioners. They did the investment for their future, and now they can't get even money to buy medicine for themselves or take care of themselves,” another customer said.
The aggrieved customers have petitioned President John Dramani Mahama, urging him to fulfil a promise they said he made during the 2024 election campaign to help retrieve their locked-up funds.
They said they supported President Mahama’s return to power partly because of his commitment to address the concerns of customers whose funds remained locked up.
“We are pleading with him that wherever he would get the money, since he promised us during his campaign, wherever he would get the money to give us, he should give us,” one of the customers said.
'Don't invest' – BoG, SEC warn against crypto platform using fake Mahama video
The customers also claimed that about 1,000 affected customers have died since the financial sector clean-up, while others are reportedly ill and confined to their homes.
They said the demonstration and petition were not their first attempts to secure payment, explaining that previous engagements and follow-ups had not produced the results they expected.
Gold Coast Fund Management was among the financial institutions whose licences were revoked during Ghana’s financial sector clean-up.
“Nana Addo’s government promised to pay us our money, but failed to do so. They are thieves” - Aggrieved customer of the defunct Gold Coast Fund Management #UTVGhana pic.twitter.com/zeQmz9yOVN
— UTV Ghana (@utvghana) September 1, 2026 DR/MA