[Video]: Panic withdrawals hit Menzgold

Gold trading firm, Menzgold Ghana Limited are defying a directive by the Securities and Exchange Commission (SEC) ordering the company to shut down their investment operations with immediate effect.

The SEC in a letter (dated September 7) to Menzgold CEO, Nana Appiah Mensah ordered the company to halt advertising of their investment business and desist from creating new contracts with depositors.

However, the company has continued operating since that date and has now released a defiant statement rubbishing that order.

According to them, their patrons can rest assured because their gold trades are safe and neither Menzgold as a business entity nor any of its products has been shut down.

The statement revealed that in the wake of the Bank of Ghana warning the general public to desist from doing business with Menzgold, the organisation availed themselves to all the relevant state institutions (including the SEC) for consultations to resolve all regulatory concerns.

 

Source: Graphic.com.gh

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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