Prime News Ghana

Menzgold begins payment of dividends today

By Clement Edward Kumsah

Menzgold company limited has announced that customers can visit branches of the company to demand their matured investment from today September 28, 2018.

In a presser on, September 27, 2018, Corporate Affairs Manager of Menzgold, Nana Yaw Ofei, stated that the company will pay dividends which matured before  September 12, when the Securities and Exchange Commission, SEC, interrupted their operations.

According to the gold dealership company, the latest decision means any customer who traded with Menzgold after September 12, 2018, “will not get any form of returns”.

“… We’ve set out a payment schedule starting tomorrow [Friday] to be circulated to all our customers. Customers are encouraged to only visit their branch on the date for their collection as the schedule will be strictly adhered to, to avoid crowding at the branches.”

“It is pertinent to note however that the period starting Wednesday 12th September to date while the Gold Vault Market has remained forcefully shut by the SEC regrettably shall not attract any forms of returns whatsoever, as the business of the gold trade has been and still is dormant,” he said.

Meanwhile, Menzgold Company Limited has hauled the Securities and Exchange Commission (SEC) and the Bank of Ghana (BoG) to court over what it deemed as an unfair treatment being meted out to the company.

Menzgold is seeking an order from the court to halt these two state institutions from interfering in its business and operations.

The gold hub company is also asking the court to stop the BoG and the SEC from further publishing what it described as “derogatory notices” against its business.

Two state institutions, BoG and SEC, have been at the throat of Menzgold for some weeks over what the two claim was a breach of operations by the gold hub. 

The suit, filed on September 26, 2018, on Thursday, is seeking “an order of perpetual injunction to restrain the Bank of Ghana and Securities and Exchange Commission, its officers, servants and agents from interfering with Menzgold’s business activities or further acts of disobedience and non-compliance with law by publishing any derogatory notices”.

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