Ndoum calls on govt to pay over GH¢7bn owed his companies

Dr. Papa Kwesi Ndoum, Chairman of Groupe Ndoum and owner of the defunct Gold Coast Fund Management Company, claimed the government owes over GH¢7 billion to his companies and subsidiaries.

The Securities and Exchange Commission (SEC) revoked Gold Coast Fund Management’s license in 2019, freezing depositors’ funds.

Depositors and investors have since demanded their money back without success. Dr. Ndoum asserts that if the government had reimbursed contractors who borrowed from his companies years ago, the financial crisis could have been averted.

He urged the government to repay the debt or establish a payment plan to resolve the issue.