Groupe of Chairman and Chief Executive Officer (CEO) of Group Nduom Dr. Papa Kwesi Nduom is unhappy demonstrators in their agitations have attacked his personality instead of the institution.

Some demonstrators of Gold Coast Fund Management (GCFM) who hit the streets to demand government’s intervention on Tuesday October 15, 2019 were seen wielding castigating placards with some threatening to scrape off his moustache which has over the years been one of his identity marks.

According to them, they have had enough of the excuses from the Chairman of Groupe Nduom and his staff who are unable to payback their locked investments and therefore insist they will do the unthinkable if it persists.

These insults appear to have gotten to the businessman and former Presidential hopeful who has since responded urging the aggrieved customers to treat him separately from the institution.

“There was a “demonstration” not against the company people invested their monies with but against me, Papa Kwesi Nduom. And it is unfortunate. GCFM now BlackShield accepted monies for investment as it had done successfully for 25 years. No one has lost their investment all these years. So where from this “demonstration” and the attacks on me personally? To want to destroy the very businesses customers expect their monies to come from?”, he quizzed.

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Demonstration against Payment of Investment?

This morning, there was a “demonstration” not against the company people invested their monies with but against me, Papa Kwesi Nduom. And it is unfortunate. GCFM now BlackShield accepted monies for investment as it had done successfully for 25 years. No one has lost their investment all these years.

The company has invested funds with good results and the customers have enjoyed good returns.

Unfortunately, one of the investments made has had challenges – the prefinancing of government infrastructure projects. Something that had been done successfully for 15 years and over that period about 14 billion Ghana cedis has been invested in schools, roads, bridges, sea defense and other important projects.

This is the area the company has faced challenges because the government agencies have not paid the contractors who now owe about 2.4 billion Ghana cedis.

We have even gone to court to redeem some of these investments.

While we wait for the big monies to come in, we have been making payments to customers – direct cash and asset swaps now to the tune of over 200 million Ghana cedis.

Everyday our central office calls people and they are paid through the banks or MOMO. I agree the pace is not fast as we all wish to cover everyone. But the company is making payments UNLIKE several investment and finance houses who are not able to do as we are doing.

So where from this “demonstration” and the attacks on me personally? To want to destroy the very businesses customers expect their monies to come from?

We will continue to make planned payments until everyone is satisfied.

Yes, some are just doing politics with this no doubt. But we are serious about our business.



Everyone will be paid. Not everyone at once. But no one will lose their investment.

As for the insults, too bad. But after all, this is the Ghana we are in.