Customers of the collapsed MenzGold Ghana Limited are urging the incoming administration of President-elect John Dramani Mahama to offer immediate financial assistance to ease their dire financial challenges.
MenzGold, once a major player in Ghana’s financial sector, shut down amid allegations of operating a Ponzi scheme, leaving thousands of investors stranded and unable to recover their funds.
The ongoing legal battles have resulted in minimal progress, increasing frustrations for affected customers.
Fred Forson, convener of the aggrieved customers, highlighted the urgency of the situation during an interview with Citi News. He emphasized that many investors are facing severe economic hardship as a result of the collapse.
Forson appealed to the new government to consider a bailout scheme to help ease the financial burdens of victims while the legal proceedings continue.
“We have higher expectations and are hopeful that the incoming President will offer us some form of bailout, even as we await the determination or conclusion of the NAM1 court case,” Forson remarked.
He further elaborated that the use of frozen assets owned by MenzGold as collateral for such a bailout could serve as a practical and fair solution.
The frozen assets of MenzGold, including real estate properties, vehicles, and other holdings, have been a contentious issue since the company’s collapse.
While these assets are currently under the custody of the state as part of ongoing investigations and court proceedings, customers believe they could serve as leverage for the proposed bailout.
