Give us financial bailout in next budget – MenzGold Customers to Mahama
The Coalition of Aggrieved Customers of MenzGold (CACM) is urging President John Dramani Mahama to prioritise a financial bailout for victims of the defunct gold dealership company in the government’s upcoming 2026 budget.
In a statement marking the seventh anniversary of the collapse of MenzGold, the group called on the President to act with urgency and compassion to resolve the long-standing crisis that has affected thousands of Ghanaians.
“Be bold, be compassionate and expedite action on retrieval of locked up investment in Menzgold in your 2026 budget,” the statement said.
The collapse of MenzGold in 2018 led to the locking up of investments belonging to both local and diaspora customers. According to the group, the financial and emotional toll on victims has been severe.
“It is however, sad to report that since the collapse of MenzGold 7 years ago, not less than 240 customers have lost their lives, some ending their lives through suicide whilst many customers are down with several degrees of sickness and diseases,” the coalition said.
CACM also reminded the President and Attorney General of an earlier pledge to appoint a receiver to oversee asset recovery and redistribution. They acknowledged the role of government officials, particularly referencing a meeting held on July 29, 2025, which was presided over by the President himself.
“We duly acknowledge the effort of government so far towards the plight of vulnerable MenzGold customers as seen in the role of His Excellency President and his ministers and appointees which culminated in the July 29th 2025 meeting presided over by His Excellency himself,” the statement noted.
However, the group insists that promises alone are not enough. They are demanding swift, tangible action — including the receiver’s appointment and a direct intervention in the form of a bailout.
“As customers we are looking forward for the appointment of a Receiver as promised by the President and respectfully urge the President to be very bold and deliberate to meet our request for a financial bail out on compassionate grounds in the next budget,” they said.
CACM also expressed dissatisfaction with the slow pace of the ongoing criminal trial involving MenzGold’s CEO, Nana Appiah Mensah, also known as NAM1.
“The ongoing criminal prosecution even though started on a speedy trial, latest developments show that it is going on a snail pace. We will like to call on the respected Chief Justice and the courts to ensure that the trial resumes on daily basis so that justice will be served within reasonable time,” the group added.
The statement was signed by Fred Forson, Chairman and Convener of CACM, and Godfred Ofori, the group’s Secretary.
