Disregard detractors, we stand with Gold Coast – Loyal Customers

A group, calling itself the Loyal Customers of Gold Coast Fund Management (GCFM), has expressed support for the Gold Coast Fund Management amid threats by another group to go on demonstration if locked-up funds at the firm are not released...


A group, calling itself the Loyal Customers of Gold Coast Fund Management (GCFM), has expressed support for the Gold Coast Fund Management amid threats by another group to go on demonstration if locked-up funds at the firm are not released.

According to the group, based in the Northern Region, it is aware of the present challenges facing the financial sector and thus, has entreated government agencies and the private sector indebted to GCFM to meet their repayment obligations.

The group said customers of GCFM will then have a heightened hope of receiving their principal and profit on various investments with the financial institutions.

“We know that our monies have been invested with other people and companies. So, we call on all those who have taken investment funds from Gold Coast to start paying so that we can have increased hope to get our money whenever we need it. This includes government agencies such as GETFund, RoadFund and Cocoa Board among others whose contractors have been financed by Gold Coast. When government agencies and private sector pay the contractors, they will also pay Gold Coast Securities. Gold Coast will also pay us when we need our money,” a press statement dated Tuesday, 26 February 2019 which was issued by the Chairman of the group, Alhassan Abdul-Basit, stated.

This comes on the heels of an ultimatum by the Members of the Coalition of Aggrieved Customers of Gold Coast Fund Management in the Ashanti Region for GCFM to release their monies.

The irate group said President of GCFM, Dr Papa Kwesi Nduom and his GCFM company have “deliberately decided to refuse to pay us back our fixed deposit investments which we have with them even though the said investments have matured since June last year and beyond.”

The group said their members, made up of pensioners, are unable to take care of their basic needs such as medical bills and other basic essentials while other members have lost their loved ones because they were unable to take care of certain basic medical needs in very critical times.

Members of the coalition also alleged that Dr Nduom has loaned out their investment to his GN Bank branches in Ghana as well as those in other African countries and Chicago, USA.

However, the rival Loyal Customers of GCFM have encouraged “the management of the company to disregard and treat with contempt the negative actions and utterances” of other aggrieved clients.

The Loyal Customers of GCFM maintain that they “have gained a lot from the investment work of Gold Coast. We believe in the company and here in the north, want them to know that we trust in their well demonstrated ability to deliver on their promises”.

Below is the full statement:


PRESS RELEASE BY LOYAL CUSTOMERS OF GOLD COAST, TAMALE
On Tuesday 26th February 2019.

We the Loyal Customers of Gold Coast Fund Management in the Northern Region wish to encourage the management of the company to disregard and treat with contempt the negative actions and utterances of the so called Concerned Gold Coast Group.

We recall with satisfaction that when other investment houses were stuck in Accra and Kumasi, it was Gold Coast Securities that broke the barrier and enabled those of us in the Northern part of the country to enjoy the benefit of investing for profit.

Some of the investment companies that came here recently have left, closed their doors and bolted with customer funds. But Gold Coast is still here with us.

We know that our monies have been invested with other people and companies. So we call on all those who have taken investment funds from Gold Coast to start paying so that we can have increased hope to get our money whenever we need it. This includes government agencies such as GETFund, RoadFund and Cocoa Board among others whose contractors have been financed by Gold Coast. When government agencies and private sector pay the contractors, they will also pay Gold Coast Securities. Gold Coast will also pay us when we need our money.

All we ask is that whenever Gold Coast gets some investment funds back, it should remember to do what it has done successfully for 25 years and pay us all arrears due from last year.

We are fully aware of the need to move our money from Structured Finance product to a new one approved by the Securities and Exchange Commission. So we call on the management of Gold Coast to speed up the finalisation of this new product so that we can endorse the new move.

Some people have asked us to join groups to put pressure on Gold Coast Management and even going round collecting money from people to stage media events. What is the purpose of all this? Some of these people after collecting these monies use them for their own benefit. They even claim they will pay media personnel too with the money.

We reject these actions. Only Gold Coast can pay us monies due us. We know they have invested our monies and will stand by us for years to come.

We want the public to know that we have gained a lot from the investment work of Gold Coast. We believe in the company and here in the north, want them to know that we trust in their well-demonstrated ability to deliver on their promises.

ALHASSAN ABDUL-BASIT (CHAIRMAN)

IBRAHIM ADAM (CO-SECRETARY)

ALHASSAN AYISHA MOHAMMED (MEMBER)

EMMANUEL AMOAH (CO-SECRETARY)

ABU-SAFIAN YAHAYA (MEMBER)

SUFIAN YAKUBU (MEMBER)

Source: Ghana/ClassFMonline.com/91.3FM/CTV



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