This was discovered by embattled CEO of the firm, Nana Appiah Mensah (NAM 1) through his Instagram site on 27 December 2019 and a observe-up affirmation by Communications Director of Menzgold Ghana, Nii Armah Amarteifio, the up coming day.
NAM1 had stated: “I take note with enjoyment that, the very first batch from the very first classification of the Menzgold payment schedule has been successfully manufactured nowadays 27th December 2019 by the ‘third party’ appointed”.
Describing further more, Mr Amartefio observed: “The most critical thing is that we are generating payments to clients and today we were being able to make payments to about two hundred consumers.”
He explained to Accra-based mostly Citi FM that he could, on the other hand, be aware offer facts about unique quantities of the investments launched to the shoppers but assured that the payment will continue in line with the system produced a several weeks earlier.
Some customers experienced “totally” turned down that 36-month payment prepare to refund their locked-up investments in whole.
The Community Relations Officer of the Coalition of Aggrieved Prospects of Menzgold, Mr Fred Forson, Course FM Thursday, 19 December 2019 that: “We do not believe in it, we absolutely reject it”.
In a statement issued on Wednesday, the troubled enterprise reported it will, from 27 December 2019, commence having to pay its clients’ locked-up investments.
“Payments begin on Friday, 27 December 2019 with money at hand now, as we proceed to go get better the debt owed Menzgold abroad, especially in Dubai and Europe”, to increase the kitty, so as the payment “sessions continue”, the firm said in a assertion.
It included that the statements shall be settled in whole and shall be matter to an invitation from the company’s lawful staff.
The statement pointed out that payments will be based mostly on a system and timetable, saying: “Payments shall be created strictly pursuing a ‘reverse mechanism’, which indicates from the past working day [month] of our organization functions to the extremely first day when our business commenced. As a result from 12 September 2018 to 18 March 2013.”
To this stop, Menzgold explained it will get started to settle all investors’ transactions in September 2018 and these who did not access any excess values.
Menzgold said it is committed to settling all claims in not more than 36 months, as it follows, strictly, the “reverse payment mechanism”.
The business, even so, expressed stress that its assets continue to be frozen, expressing neither can it “access any of our offices nationwide” nor “credit or debit any bank account in Ghana”.
“In check out of these constraints, our legal professionals shall concur with the claimants, on invitation, as to wherever and how to legally receive payment.”
Menzgold appealed to its prospects to cooperate with them in carrying out the payments.
Nevertheless, barely 24 hours following issuing that assertion, Menzgold’s lawyers, Kwame Akuffo & Co. Endless, issued a assertion declaring it lacked the capability to make any payments on behalf of the firm.
Just after rejecting the payment system, Mr Forson explained to Course Information that: “We are meeting this morning then we’ll make a selection on it simply because we now sounded the warning that we had preferred him [CEO Nana Appiah Mensah] to meet with us but if he was not ready to meet with us, it signifies regardless of what he brings really should be in the fascination of all the buyers the place we named for the 100 for every cent and overall payment of all shoppers before the end of the year”.
“But what he has brought, a 36-month payment plan”, Mr Forson observed, “is even unsustainable simply because he is not in a position to even inform us the supply of resources that he is likely to use to shell out the money”.
He extra: “Even just a second just after he himself introduced out the payment strategy, his law firm, who he said was the person who is going to pay the prospects, has occur out to say that he has nothing to do with that, he doesn’t have the capacity”.