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General News of Thursday, 10 January 2019


'We are grateful to Multimedia' – Menzgold customers jubilate

A customer of failing gold dealership firm, Menzgold is unable to contain his gratitude to the Multimedia Group for its extensive coverage of the saga.

All outfits under the Group have extensively covered the issues surrounding Menzgold since the Bank of Ghana (BoG) announced that the business, established by Nana Appiah Mensah, popularly known as NAM1, was not backed by law.

Joy FM, especially, has been at the forefront cautioning and alerting both customers and prospective ones against doing business with the firm.

But all that fell on deaf ears. At a point, the customers accused the station of witchcraft saying its involvement in the saga was merely to tarnish the image of the CEO, Mr Appiah Mensah.

A Joy Business reporter was manhandled when, in the heat of the saga, she was dispatched to the East Legon branch of the company to report on happenings there when customers besieged the premises to demand the payment of their investment.

Karen Dodoo said she was preparing to speak to customers who had besieged the company in their hundreds when she was shoved in the shoulder and accused of taking photos without permission.

Her two mobile phones were snatched along with the microphone she was using to do her report.

In a surprising turn of events, however, the customers who accused Joy FM of bad faith have been heaping praises on it for the role it played.

“I want to say thank you to Multimedia. We appreciate the kind of work they have done for us,” Evans Awudi said on Joy FM’s Newsnite programme.

The appreciation comes after the Circuit Court issued an arrest warrant for Mr Appiah Mensah who according to sources may be in either Nigeria or South Africa.

Awudi says the arrest is long overdue and that government should have made the move long ago.

He is confident, nonetheless, that government’s involvement brings some comfort that their investments will be released after many protests by the customers calling on for this to be done seemed to have not hit home.

“All we were asking was for government to come in. We know they are going to get him,” Awudi added.

Mahmoud, another customer, has investments worth ¢42,000 with Menzgold. Like Awudi he is grateful for Multimedia’s work but says government’s intervention could have come earlier.

Ironically, Mahmoud invested with the company only a week before the Securities and Exchanges Commission (SEC) ordered it to halt operation.

Unlike Awudi who enjoyed a three-month ¢30,000 profit on his ¢100,000, Mahmoud said he could not make a pesewa.

In response to why he went ahead to invest with the company even after warnings from the BoG and SEC, Mahmoud said he did not find the ‘armchair’ caution worth adhering to.

For him, had the BoG followed up its directives with “action, instead of just a warning,” he and many like him would not have fallen victim.

“State institutions are not paid to sit in offices and issue warning, they are supposed to act,” he stressed.