08.11.2021 Letter

Open Letter: The Need To Include Payment Of Locked Up Investments Of Menzgold Customers In The 2022 Budget

By Richard Beyemba Yorda
Open Letter: The Need To Include Payment Of Locked Up Investments Of Menzgold Customers In The 2022 Budget
08.11.2021 LISTEN

Re-Ministry of Finance Request for Public Inputs in 2022 Budget

8th November 2021

I write in response to a request by the Ministry of Finance in a public announcement that the public is being requested to make inputs into the 2022 Budget to be read in November 2021. It is my considered understanding that the Ministry aims at harnessing public participation in government’s financial plan for the ensuing year. This, I believe would ensure the public voice manifests overtly in nation building.

Your Excellency, I also believe this call presents a unique opportunity for the nation to finally resolve the Menzgold issue under your able leadership as head of this government. It is therefore my proposal that, payment of the locked up investment of Menzgold customers be included in the 2022 budget

Mr President, the Menzgold situation with respect to the lives of the over 1 million customers who are directly and indirectly affected is very dire. So far over 125 of our members have died. It was during the funeral ceremony of one of such relentless member (Mama Jane; May she RIP) last Sunday that I put together this piece.

I have to resort to this open letter approach because two formal petitions in 2019 and 2020 to His Excellency the President of the Republic appear not to have reached him and all other attempts at getting the President's attention has not been successful.

The continuous deterioration of lives of Menzgold customers and the many deaths and sickness among the customers present a very bad image for the government and Ghana as a sovereign state. This problem is resolvable given the many herculean problems Ghana has solved before. It is my firm belief that, Ghana as a nation can resolve this by absolving the debt and ensuring payment of the locked up funds. Payment of these funds will curtail abject poverty and relieve a lot of Ghanaians who unfortunately find themselves in this dilemma.

It is the opinion of Menzgold customers that since government has frozen the Bank Accounts of Menzgold and it’s CEO, as well as confiscated Assets of Menzgold (including some 400 kilograms of Gold and over 70 vehicles), a concluded liquidation process can assist the state to harness some proceeds from the afore mentioned assets and others to enable the Government offset some of the cost if government so decide to pay off customers.

The mess and hardship was caused by government through its regulators and the government has the capacity to clear the mess and make life bearable again for customers.

No matter how much Menzgold and its CEO offended the Laws of the land, our investment and legitimacy as Ghanaians with respect to economic rights must be protected and rescued.

It is in the light of the above that we so request and appeal to your highest prerogative of mercy to include the payment of locked investments of Menzgold Customers in the 2022 budget.

I respectfully submit. Thank you

Frederick Forson


PRO, Coalition of Aggrieved Customers of Menzgold


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