Connect with us

Hi, enter any keyword to search


Menzgold To Shut Down Some of Its Operations?

The Securities and Exchange Commission has directed gold trading firm Menzgold Ghana Limited to shut down their operations with immediate effect. 

The letter which was addressed to Nana Appiah Mensah by the SEC states that the bank should shut down for contravening the Securities Industry Act, 2016 (Act 929).

This follows investigations conducted by the regulator SEC, which found out that Menzgold’s business which involves the purchase/deposit of gold from the public and contracts issued with guaranteed returns with clients is a capital market activity which cannot be conducted without a valid license issued by the SEC.

 Menzgold in the past month was in a heated back and forth with the bank of Ghana with respect to the deposits and paying of returns on such deposits of which Nana Appiah had to apologize for and state clearly that the matter is being resolved amicably.

By this letter, they are being prevented from trading in Gold as deposits and and paying returns on such deposits but any other dealings in Gold the organization is allowed.

We will follow and bring you up to speed with new developments. 

You May Also Like


ONErpm has announced its recent African singing and it’s the multi award winning recording and performing artist, Wendy Shay. The Ghanaian singer signed to...


After an entire year of missing her beautiful sound, with her last release being ‘Blue Jeans’, Afro-fusion singer, Kkeda has just unveiled her highly...

Cultural Events & Festival

The African American Association of Ghana extends an invitation to join them in celebrating Juneteenth, slated for June 17, 2023. Juneteenth is a significant...


Vice President Dr. Mahamudu Bawumia says Ghana’s economic opportunities for private sector investors are back on track as the country is navigating its way...

Copyright © 2022