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Business News of Friday, 4 October 2019

Source: citinewsroom.com

Menzgold customers push for meeting to discuss new payment plan

Customers of Menzgold Ghana Limited are calling on management of the company to convene a meeting for a schedule to be agreed by both parties for the payment of their locked up cash.

Management of the company in September assured of plans to make payments in December this year after a validation exercise scheduled for this month.

Citi News sources close to the company have revealed that internal auditing processes are currently ongoing to pave way for the validation exercise.

But a spokesperson for the customers, Fredrick Forson is calling for a meeting this month to address all the paperwork to ensure that the December timeline for payment is met.

“We are expecting them to have a meeting with us this month where we will discuss the payment plan, the form and structure of the payment plan and when that discussion is done and agreement reached, they can sum up a date for payment. At the moment, what is happening now is validation and auditing of their account. The understanding we got is that the submission of our data is not a condition precedent for payment. They just want to do their own checks,” he said.

Meanwhile, the management of Menzgold has said that it is committed to meeting its payment obligation to its aggrieved customers after several months of its failure to do so due to government instructions and a legal tussle involving the company’s boss in Dubai.

The Head of Communications for the company, Nii Amarh Amartefio has also said that they are considering the option of suing Horizon Royal Diamond, the Dubai company that held the company’s boss in a legal tussle in Dubai to demand for some money due to the reputation damage their action has caused the Menzgold brand.