A Financial Analyst, Yaw Ohemeng Kyei, says government must not bail out the investors of embattled gold dealership firm, Menzgold Ghana Limited, because they failed to do their own due diligence.
He said it is the responsibility of investors to do their own due diligence of a company before investing their funds to avoid losses.
Mr. Ohemeng Kyei said government might have erred in accepting corporate tax from Menzgold but once people opt for higher returns investment, which comes with a higher risk they should not blame government if they lose their funds.
Meanwhile, an association of former staff of Menzgold says management of the company are withholding information from clients whose investments have been stalled, following a shutdown of Menzgold’s operations.
“We want to tell clients that all information rests with management, and their inability to disclose it to staff makes us oblivious to their motives.”
A release signed by Jonathan Machator, Secretary of the Association, Gabriel Kelvin, Convener and Karl Max, Chairman, said client relation officers had no information from management, which made it difficult for clients to be informed about their transactions and the way forward.
“What we find interesting is the betrayal of citizens by the Ghanaian system.”
