This is the case in Ghana too, where the securities law covers every conceivable third-party investment scheme structure. That Menzgold does not or cannot understand that they are indeed trading in securities is in fact the scariest thing. So how exactly is Menzgold “trading” the gold it claims to be hoarding for Ghanaians overseas? To the extent that Menzgold advertises to the public and promises a return DEPENDENT ON MENZGOLD’S SKILL, CREDIT, AND GOODWILL, it is in the securities business. Furthermore, gold-linked funds all over the world are in huge difficulties as a result of the bearish sentiment in the gold market right now (https://www.etf.com/sections/features-and-news/gold-etf-demand-falling?nopaging=1).

Source: GhanaWeb September 30, 2018 16:30 UTC