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August 23, 2018 | Feature Article

Nana Appiah Mensah, Business Mogul or Biggest Scammer?

Nana Appiah Mensah, Business Mogul or Biggest Scammer?

Most news portals are either talking of the banking scandal or the inspirational speaker who said "God is good". A few has made mention of the Menzgold against Bank of Ghana/ Precious Mineral Commission case. Recently everyone is talking about financial scams in Ghana but no one has tied it all together or made mention of the most influential scammer in Ghana, Nana Appiah Mensah.

NAM 1 the CEO of the Zylofone media group and Menzgold Ghana is running the biggest and subtle scam in Ghana's history. His Zylofone Cash targets the young and wild who dreams of fame and gold while Menzgold Ghana targets the rich and greedy who dream of prestige and gold.

Anyone with a little idea of the Zylofone Cash platform will tell you that it's just one big scam built on a similar API to YouTube. A content provider uploads media and monitizes it by getting views - the provider gets a share of the money made but bears the full brunt of having to advertise the media. In simple terms that is the business model of both Zylofone Cash & YouTube with a big or small difference - relative based on your knowledge of the world of internet.

The difference is that with Zylofone Cash you have to buy an account while with YouTube you get a free account. How many struggling artists have been scammed out of their money in their reach for fame and how many young artists have made back the amount they invested in signing up with Zylofone Cash?

Enough has been said about Menzgold and it's business module, no one can dispute that it's a a brilliant and fancy reach in regards to it running, its reach and its influence. If gold trading was a business with such profits we have to accept that something has to be said against the government backed agencies that deal in minerals for they have cheated the economy and the man on the street by not inviting us all to trade. But seriously, the profits promised by Menzgold is so great that it's hard to not jump on board. This house of cards called Menzgold Ghana will come tumbling down one day but I hope not soon for I too hope to get some of their interest on gold trading - a thinking subject to when I'll be graced with enough wealth to buy a piece of their gold. For how long can they continue paying out profit from depositers money - sorry, I forgot they don't take money (the official statement that doesn't explain why no customer walks in with cash and walks out with gold trinket).

Despite my misgivings about NAM1 I commend his real developmental efforts yet I sigh with shame at the attitude of some unemployed and non-beneficiaries of his supposed kindness who won't sit to consider their future but are ready to fight anyone who questions the doing of their 'benefactor' and employer.

Kwame Sarpey
Kwame Sarpey

The author has authored 10 publications on Modern Ghana.
Author's column: KwameSarpey

Disclaimer: "The views/contents expressed in this article are the sole responsibility of Kwame Sarpey and do not neccessarily reflect those of Modern Ghana. Modern Ghana will not be responsible or liable for any inaccurate or incorrect statements contained in this article."

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