Now That Menzgold Has Halted Operation; Is Joy FM Happy?

It took the bravery of one man to start Radio Eye, that one singular act, was what has led to the explosion of media in the country.

Innovation, ingenuity and the capacity to take risk, must be applauded not condemn and persecuted. In 2015, the Bank of Ghana (BoG), issued about two notices, warning Ghanaians about the activities of Menzgold.

At the time, the company was Menzbank, the BoG, asked that, the name should be changed, since it has not been licensed to operate as a bank. The company complied with the directive and changed the name to Menzbanc. This too was fought and so the company metamorphosed to now Menzgold.

In 2016, 2017 and now 2018, the BoG, has issued notices upon notices with tax payers money, warning the general public, about the activities of Menzgold.

All these notices, have gone unheeded, because Ghanaians have remain loyal the company, which has not let them down.

The BoG, in all the notices, has not been able to cite one regulation or law that, Menzgold, has violated.

The Securities and Exchange Commission, has also waded into the fray, ordering the gold trading firm, to suspend their operations with the public with immediate effect.

All these actions are taken without regard to the number of Ghanaians, who are in the employment of Menzgold.

The company has indicated its readiness to co-operate with all the regulatory agencies, to ensure the creation and formulation of sectoral policy.

The question to be asked is how to begin to build a framework for their kind of business, there is the need to bring co-players to the table – BoG, Securities and Exchange Commission (SEC), Minerals Commission among others – to talk about how to build a tenable regime.

Joy FM, since day one, has sought to find skeletons where there is none, now that their wish has been granted; we hope they are happy now.

This is a young man, who is trying to operate a business, if something is not going right, must we destroy him.

Many foreign companies are violating our laws with reckless abundance; they do this in connivance with Ghanaians, when authorities get wind of it, they rather pat them on the back.

We all know how a scam looks like and operate, Mezngold, has been operating for more than four years and it is only growing stronger and has now opened branches in other countries, including Nigeria, Spain, United Kingdom etc.

It is thus far, the only indigenous to have crossed our country’s borders, so why do we want to kill this goose that is laying golden egg?





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