Since the order of closure from the Securities and Exchange Commission went out to the Nana Appiah Mensah’s Menzgold for “Violating Operational Permit”, a lot of questions have been raised out of anxiety for the survival of Menzgold.
But one major question that has been on the lips of many people and it’s worth discussing here on GHPAGE.COM is the survival of Zylofon group.
If the unfortunate thing happens and Menzgold is ordered to shut down completely or even worse, the CEO is arrested for fraud and running “Ponzi Scheme” as being suggested by many well-respected people including the MP Kennedy Agyapong, what happens to Zylofon Media and all the other Zylofon group?
According to reports, Menzgold is the financial backbone of all the other luxurious companies established by Nana Appiah Mensah best known as NAM1.
It’s clear that Zylofon Cash, Zylofon Art Fund, Zylofontheater, the recently opened Zylofon properties and most importantly Zylofon Media do not rake in much money as expected of such huge companies.
Recently, it was revealed that Shatta Wale’s Gringo has made less than GHS10 after being on Zylofon cash for months. So Zylofon cash is completely out of resources to sustain even itself considering the highly skilled personnel employed there.
Although the online movie cinema Zylofon theater has been launched sort of, it’s not even functioning effectively as expected. Obviously, more works are being done to perfect it.
Zylofon Art Fund does not in anyway generate money. At best, it gives out money to creative artists to fund their project and pay back later. Zylofon Properties was recently launched; It is yet to find its feet to compete with the hundreds of other real estate companies.
The only company left standing which many people have high hope to sustain the Zylofon Empire is Zylofon Media. And doing the maths carefully as an entertainment writer, it clear the artists signed unto the label are not bringing enough money to balance the amount spent on them since they were signed.
Zylofon Media since its establishment has signed Kumi Guitar, Obibini, Becca, Stonebwoy, Joyce Blessing and Shatta Wale unto its label. Although Stonebwoy, Becca, Shatta Wale, and Joyce Blessing are doing the best they can to rake in some cash per their contract, its a fact that it’s not enough.
Meanwhile, recently, artist and repertoire manager at Zylofon Media, Bulldog revealed NAM1 has pumped not less $20 Million dollars into the industry. So where from that money if not from Menzgold?.
When Ibrahim Sima was arrested for dealing drugs, his Exopa modeling company lasted for as long as he was standing trial. It collapsed immediately after. When Goodies was arrested for dealing in drugs, Goodies music production lasted for less than a few months and the empire came crashing.
Will Zylofon Media, Zylofon Cash, Zylofon Art Fund, Zylofontheater, and Zylofon properties survive IF Menzgold goes down? A million dollar question that only time can answer.