Respected Ghanaian rapper Michael Owusu Addo fondly called Sakodie has commented on the ongoing saga surrounding gold dealing company, Menzgold.
The multiple award-winning MC in a tweet made the world aware that he knows Nana Appiah Mensah, the Chief Executive Officer of Menzgold has good plans for the country and would not use dubious means to deceive the populace. Obidi further admitted that he might not know the ins and outs of his operations but he is optimistic that NAM1 as the business mogul is popularly known as has a good game plan to help Ghana develop.
Sarkodie in the tweet wrote “One man doing the most for our beloved country knowing him personally he genuinely cares about the country’s progress … might not know the ins and outs but one thing is for sure – the Nam1 mission is for a better Ghana Bless @mn_appiah”
Menzgold in a letter by the Securities and Exchange Commission (SEC) directed to halt to stop trading in the gold collectibles without the appropriate licence.
In the letter dated September 7, SEC said it has thoroughly investigated the activities of Menzgold and has found that, the Nana Appiah Mensah-owned firm does not have the license to trade in gold collectibles from the public.
The statement explained that interactions with representatives of Menzgold confirmed to SEC the view that the aspect of Menzgold’s business which involves purchase and deposit of gold collectibles and guaranteed returns is a capital market activity under Act 929 without a valid license issued by SEC which contravenes the law.
The statement added that subsequent requests have been made by SEC to Menzgold’s lawyers to furnish SEC with specific detailed information on the operations of the firm.
This directive caused fear and panic in the country especially to customers of the company who had their gold with the company.
Many Ghanaians including top stars have spoken in favour of the Nana Appiah Mensah-owned company asking leaders of the country to save the firm from being closed down.