09 August 2017

DKM 2.0? Bank Of Ghana Warns Public Against Depositing Money With Menzgold


The Bank of Ghana has warned the general public against doing business with Menzgold Company Limited, an investment firm which the Central Bank says has not been licensed.

Deputy Governor Johnson Asiamah revealed to Parliament’s Public Accounts Committee that anyone who does business with the firm does so at their own risk.

With the DKM saga fresh in the minds of the public, the Bank is publicising the fact to avoid a similar saga.

“Only last week we caused a publication in the newspapers about Menzgold to the effect that we have not licensed them to accept deposits, because, to accept deposits, you will need a license from the Bank of Ghana. We have not licensed them and hence if you go ahead to do any business with them, it is at your own risk.” he told the Committee.

He added: “So we took the first step by notifying the public. If they ask you to give them deposit don’t do it.”

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