Menzgold orders all staff members to go on compulsory leave

Gold trading and investment firm, MenzGold Ghana Limited, has ordered its staff across the country to proceed on compulsory leave due to what it described as incessant threats from aggrieved customers of the firm.

Also, all branch managers of the firm have been transferred to the company’s headquarters at Dzorwulu in Accra, the firm announced in a statement issued Wednesday.

The directive takes effect from Monday, December 10, the statement signed by the Chief Executive Officer of the firm, Nana Appiah Mensah, popularly referred to as NAM1 stated.

Except the branch managers, the staff members are to resume their duties on December 20 when the company said “all outstanding entitlements including end of year packages shall be fully disbursed”.

It explained the decision was taken “as a result of the incessant security threats” from customers on both the properties of the company and the lives of the staff members.

According to the company which has since August this year been struggling to pay returns on customers’ investments, the current environment for the staff members is “not conducive for operational activities”.

“Continue to calm and keep faith and be rest assured that we shall endeavour to ensure you have job security,” the firm assured the customers.

It said the date for the company’s end of year staff durbar will be communicated by management soon, noting the Chief Executive will personally address the staff at that event on the future of the company.

The chief executive thanked staff for their cooperation, faith, confidence and “unmatched sacrifices” for the cause of the company.

Meanwhile, the company says it has been advised to cease its online gold collectibles trading which it started in the wake of the company’s tango with regulatory agencies.

The suspension, the company said is to “make room for the authorities to cogitate and to present a final say to us and the public on the matter in question in the next few days”.

“To this sad end, all the 5 per cent migrations fees received shall be reimbursed fully to customers from Monday 10th December to Friday, 15th December 2018,” it promised.