The continuous resort to intimidation by the Securities and Exchange Commission (SEC) on Menzgold, has clearly demonstrated that, they are out to kill the company and not to correct.
Menzgold, through a press statement to its clients, has indicated that, it would launch an online gold store, a buying and selling market platform, known as Menzgold Global Market today
SEC, had earlier suspended the operations of Menzgold, citing section 109 of Act 929 with consequences under section 2016 (I) of the same Act.
As a company, which is desirous of obeying every law in the country, Mezngold, obliged with the directive and instead took the matter to the final arbiter, which is the court.
As an innovative company, with the view to meeting the needs of its client, the company, has announced migrating its clients onto an online platform.
This is another first by any company or institution in this country. The ink of the press statement issued by Menzgold about the intended migration had barely dried, when SEC organized a press soiree, ostensibly to serve notice to the company that, it would be watching.
Speaking at the first ever Africa Investment Forum (AIF) in Johannesburg, South Africa, Aliko Dangote, president of Dangote Group, said the conglomerate’s revenue base, would hit $30 billion by 2020 — a feat he would have considered impossible 10 years ago.
If the Nigerian government had stuck its teeth into the operations of Dangote and sets out to destroy him, as SEC and the Bank of Ghana (BoG) are determined to do to Menzgold, today, Dangote wouldn’t be a shining example to the rest of Africa.
A lot of interests are at stake, including commercial banks, which feel the continuous existence and operations of Menzgold, is a threat to their survival.
But instead of killing the ant with a bulldozer, is there not a way to strengthen Menzgold, so they are able to offer Ghanaians, investment options.
As a government that is committed to private sector growth, we are of the opinion that, this is not the best way to encourage and motivate people to invest in the economy.
Unlike many ponzy schemes, Menzgold, has pledged and continue to assure its cherished clients that, it would pay everyone, who invested with them.
If this is not a company that needs the support of all, we don’t know which is.