{"id":11594,"date":"2018-09-14T22:50:40","date_gmt":"2018-09-14T22:50:40","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=11594"},"modified":"2018-09-14T22:50:40","modified_gmt":"2018-09-14T22:50:40","slug":"youth-group-demonstrates-over-sec-action-against-menzgold","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=11594","title":{"rendered":"Youth group demonstrates over SEC action against Menzgold"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11595\" src=\"https:\/\/www.kumasionlinegh.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-3.jpg\" alt=\"\" width=\"1000\" height=\"600\" srcset=\"https:\/\/www.kumasionlinetv.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-3.jpg 1000w, https:\/\/www.kumasionlinetv.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-3-410x246.jpg 410w, https:\/\/www.kumasionlinetv.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-3-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p>A group calling itself the Coalition of Concerned Youth Ghana ( COCYOG), on Thursday demonstrated against the suspension of\u00a0 parts of the operations of Menzgold.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-441137 disappear mom_appear\" src=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-5.jpg\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" srcset=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-5.jpg 1000w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-5-300x180.jpg 300w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-5-768x461.jpg 768w\" alt=\"\" width=\"1000\" height=\"600\" \/><\/p>\n<p>The group\u00a0is fuming with rage over what it termed a deliberate attempt by government to sabotage Menzgold Ghana and its Chief Executive officer, Nana Appiah Mensah.<\/p>\n<p>According to the group, any country\u2019s development is linked to the success of its youth.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-441136 disappear mom_appear\" src=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-4.jpg\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" srcset=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-4.jpg 1000w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-4-300x180.jpg 300w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-4-768x461.jpg 768w\" alt=\"\" width=\"1000\" height=\"600\" \/><\/p>\n<p>At a demonstration in Kasoa in the Central Region, the leader of the group, Mr. Tete Bill, appealed to the government and the Securities and Exchange Commission to as a matter of urgency put an end to the attempt to collapse the business of Nana Appiah Mensah.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-441134 disappear mom_appear\" src=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-2.jpg\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" srcset=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-2.jpg 1000w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-2-300x180.jpg 300w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-2-768x461.jpg 768w\" alt=\"\" width=\"1000\" height=\"600\" \/><\/p>\n<p>According to him,\u00a0Menzgold is a privately owned entity which started some few years ago and trades in gold and gives back dividends on investment.<\/p>\n<p>Some pensioners in the country reportedly survive on the dividends they receive from their investment with the company<\/p>\n<p>Over 5,000 individuals have been employed and would lose their jobs should Menzgold collapse according to reports.<\/p>\n<p>Speaking to\u00a0Citi News, a member of the group, Mr.Benjamin Amuzu, wondered why the government is bent on destroying Menzgold when it is also encouraging the youth to start businesses.<\/p>\n<p>\u201cThese so-called big men in this country won\u2019t create jobs for the youth, yet they sit in government and collapse businesses belonging to our own\u201d he lamented.<\/p>\n<p>He also stated that other big companies started like Menzgold before they became multinational companies.<\/p>\n<p>\u201cGovernment must stop collapsing the business of Menzgold or about 2,500 youth would come after them,\u201d he ended.<\/p>\n<p>Menzgold Ghana Limited temporarily\u00a0<strong>halted operations<\/strong>\u00a0effective September 13, 2018, following a directive from the Securities and Exchange Commission (SEC).<\/p>\n<p>The company in a statement said it decided to bring some finality to the issue at hand.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-441133 disappear mom_appear\" src=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-1.jpg\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" srcset=\"https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-1.jpg 1000w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-1-300x180.jpg 300w, https:\/\/citinewsroom.com\/wp-content\/uploads\/2018\/09\/demo-against-over-menzgold-woes-1-768x461.jpg 768w\" alt=\"\" width=\"1000\" height=\"600\" \/><\/p>\n<p>\u201cFollowing the notice from the Securities and Exchange Commission of Ghana issued on the 7<sup>th<\/sup>day of September, 2018, the Management of Menzgold Ghana limited in its bid to bring some finality to the issues once and for all has decided to place a temporary halt on all extra value payments and any new business related to our Gold vault market,\u201d a statement from management of Menzgold stated.<\/p>\n<p><strong>SEC orders Menzgold to suspend \u2018illegal\u2019 trading operations<\/strong><\/p>\n<p>Menzgold Ghana Limited was asked to<strong><a href=\"https:\/\/citinewsroom.com\/2018\/09\/12\/sec-orders-menzgold-to-suspend-illegal-operations\/\">\u00a0suspend its gold trading operations<\/a>\u00a0<\/strong>with the public by the Securities and Exchange Commission (SEC).<\/p>\n<p>According to the SEC, Menzgold\u00a0has been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.<\/p>\n<p>This, the SEC says, is in contravention of \u201csection 109 of Act 929 with consequences under section 2016 (I) of the same Act.\u201d<\/p>\n<p>The company was however cleared to continue its \u201cother businesses of assaying, purchasing gold from small-scale miners and export of gold.\u201d<\/p>\n<p>\u2013<\/p>\n<p>Source: Citinewsroom.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A group calling itself the Coalition of Concerned Youth Ghana ( COCYOG), on Thursday demonstrated against the suspension of\u00a0 parts of the operations of Menzgold. The group\u00a0is fuming with rage over what it termed a deliberate attempt by government to sabotage Menzgold Ghana and its Chief Executive officer, Nana Appiah Mensah. According to the group, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-11594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Youth group demonstrates over SEC action against Menzgold - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=11594\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Youth group demonstrates over SEC action against Menzgold - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"A group calling itself the Coalition of Concerned Youth Ghana ( COCYOG), on Thursday demonstrated against the suspension of\u00a0 parts of the operations of Menzgold. 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