General News of Wednesday, 3 October 2018Source: classfmonline.comMenzgold to pay 50% of principal to clientsMenzgold boss Nana Appiah MensahGold-dealership firm, MenzGold Ghana Limited, has served notice that it will pay half of the principal invested by clients into the gold business. “In light of the many grievances displayed by an overwhelming number of our clients, the management of MenzGold Ghana Limited has taken a decision to pay out 50% of all Gold deposits in cash equivalent,” a statement from the firm said on Wednesday, 3 October 2018. The statement added that the remainder of the principal will be paid at a later date. MenzGold has filed a suit against the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) for interfering with its Gold Vault Market operations. Additionally, MenzGold wants a declaration its “business activities does not fall within the present legislated scope of the Security Industry Act 2016 (Act 929)”.

Source: GhanaWeb October 03, 2018 14:12 UTC