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General News of Wednesday, 30 October 2019


One-month validation will delay payment – Menzgold customer

Menzgold customers lamented that the validation period will delay payments of their funds play videoMenzgold customers lamented that the validation period will delay payments of their funds

Aggrieved customers have said they are unhappy about the ongoing one-month validation exercise by the gold-buying firm, Menzgold.

They lamented the duration was long adding that it could delay payments of their investments.

Hundreds of customers of the troubled gold dealership firm Menzgold, on Monday, queued at various offices following an announcement by management that customers are to verify claim documents which forms part of an elaborate process to settle their locked-up funds.

The month-long document validation process which started on October 28 ends on November 28, 2019.

In an interview with, most of the customers stated that although the process was fairly smooth, they were of the view that the duration of the exercise could be done a matter of weeks not the stipulated one month.

One of the customers, speaking to Ghanaweb said although there seem to be headway with investments being returned, he was a little disappointed because the duration given them was up to a month.

“…they gave us 30 days. It will delay the payment process because this means until next month before this thing will end before they give us the payment schedule.”

He added, “Why not two weeks because they even have a data to check everything so I do not know the reason why they say we have to come and do this validation. How many branches do they have when they took the money from us? I think it’s a waste of time and if you waste our time you waste our money as it has already happened.”

The Menzgold exercise is taking place across four designated centres in the country – Greater Accra, Central, Western and Ashanti regions.

The validation process includes receiving photocopies showing gold-trading agreements, receipts as well as any valid national ID card by each customer.

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