We've 60,000 clients, not 1.8m – Menzgold

Troubled gold-trading firm, Menzgold Ghana Limited, has said its entire clientele base is about 60,000 and not 1.8 million as claimed by Ms. Amanda Clinton, the lawyer for some of its aggrieved clients.

Ms. Clinton had said the company also held up to $200 million of its clients’ investments within its five years of operation.

However, the acting Communication Director of Menzgold, Nii Armah Amarteifio told Class91.3FM’s mid-day news, 12 Live on Wednesday, 9 January 2019 that: “It’s not true that we have a clientele base of 1.8 million”, adding: “I don’t know where she got that figure from”.

“I had corrected that figure on my Facebook wall and on all the interviews I have granted on the various media platforms. I have said that our clientele base is around 60,000 or so."

“And even as I speak to you now, you know we started the 15 percent to 100 percent payment. Some of the customers, as far as I know, have been given their full payment, 100 percent has been given to them, so, the number of customers we have has even diminished at this point in time, so, I don’t even know where she got that number from that we have 1.8 million customers. I don’t know where she got that from."

“And that $200 million that she is also bandying around that it’s the amount of investment that the company holds, I really don’t know where she got that from. Maybe she could be of help by providing better and further particulars, then we can now peruse to be sure whether what she is saying is true or not”, Mr. Amarteifio said.

Menzgold has been struggling to pay its customers after it was asked to stop operation its gold vault market by the Securities and Exchange Commission (SEC) over regulatory infractions.