Proceed on leave – MenzGold to staff

The management of gold dealership and investment firm, Menzgold Ghana Limited, has directed all of its staff members to proceed on leave. A statement signed by the Chief Executive Officer of the firm, Nana Appiah Mensah, said the directive takes effect from Monday, 10 December 2018...


The management of gold dealership and investment firm, Menzgold Ghana Limited, has directed all of its staff members to proceed on leave.

A statement signed by the Chief Executive Officer of the firm, Nana Appiah Mensah, said the directive takes effect from Monday, 10 December 2018.

All branch managers of the firm have been transferred to the company’s headquarters at Dzorwulu in Accra, the statement added.

The decision was taken “as a result of the incessant security threats” from customers on both the properties of the company and the lives of the staff members, the statement said.

The company urged the staff to “continue to be calm and keep faith and be rest assured that we shall endeavour to ensure you have job security.”

Menzgold is in a legal fight with the Securities and Exchange Commission (SEC) and the Bank of Ghana (BoG) over a regulatory impasse which has resulted in the company suing the state agencies.

SEC ordered Menzgold to stop its business of paying dividends to clients because they have not been licensed to do so.

As a result, Menzgold has shut down that part of its operations and has not been unable to pay its clients their agreed dividends for months.

This has angered the clients who have staged a demonstration and threatened to drag managers of the company to court for breaching the contract it has with them.

Source: Ghana/ClassFMonline.com/91.3FM



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