Menzgold begins validation process for payments

Menzgold Ghana Limited is set to begin validation of its customers to pave the way for the payment of their locked up cash.

The company, through a press release scheduled October 28 to November 28 as the period for the exercise which will take place at designated venues in four regions, which are: Greater Accra, Central, Ashanti and Western.

“As a part of our efforts to finally discharge our financial obligations to our cherished customers, we have tabled down the following schedule to commence the process of validation in order to settle all verified claims of our customers.”

“All customers are to take note of the following: Validation of documentation starts from 28th October to 28th November 2019. Time: 9 am-4 pm each working day,” the statement noted.

The statement said the exercise will take place between the hours of 9:00 am to 4:00 pm each working day.

“We urge all our cherished customers to fully participate in this imperative exercise to achieve the desired outcome.”

But some customers of Menzgold are mounting pressure on the company to announce a detailed payment plan.

According to the customers, this is the only way they can repose confidence in the company to refund their locked up investments.

Despite describing the announcement of the validation exercise as welcoming, Chairman of the Coalition of Aggrieved Customers of Menzgold Timothy Binob in an interview with Citi News’ called on management to announce a proper payment schedule.

“Customers cannot be assured of the December timeline unless the mode of payment or the payment plan is out.

All that we know or the information we have at hand is payment will be done in December.

As to whether it is going to be an actual payment or it is going to be the final payment or the timeline for only December payment to be executed, that one, we will have to meet with Menzgold.”

“We are all hoping that December will be the first time for customers to at least receive their money.

But as I am speaking to you now, we will have to confirm or we will have to have a meeting with the CEO and ensure that he comes out to let us know whether all the customers will be receiving their monies in December.”

Management of the company in September assured of plans to make payments in December this year after a validation exercise scheduled for this month.

Sources close to the company have revealed that internal auditing processes are currently ongoing to pave way for the validation exercise.

Watch the payment schedule below:

Source: citinewsroom