Gold Coast customers stormed by Parliament

General News of Monday, July 29, 2019

Source: clbadfmonline.com

2019-07-29

On Monday, July 29, 2019, a group of ordinary Ghanaians stormed Parliament to protest what they described as a failure of the legislature to intervene in Gold Coast fund management affairs. , owned by Dr. Papa Kwesi Nduom.

According to Accra's 100.5FM parliamentary journalist, Richard Appiah Sarpong, protesters who acted before parliament before the mid-year budget statement was introduced by Finance Minister, Ken Ofori-Atta, demanded that their funds are blocked. let's say we have not been paid since September 2018.

Here are some of the inscriptions on their placards: "Stop Dr. Nduom now, he's no longer above the law. Government, why do you protect Dr. Nduom for the theft of innocent Ghanaians? among others. "

The management of Gold Coast Fund Management (GCFM) Limited has revealed that it has paid nearly £ 70 million to its investors, out of a total of $ 200 million.

"Up to now, I think we have paid about 70 million GHS," out of more than 200 million customers owed, the managing director of investor relations at Gold Coast Fund Management Limited, Mr. Benjamin Afreh has told Benjamin Akakpo at the 91.3FM Executive Breakfast Show on Thursday, April 18, 2019.

Afreh said the company had not been able to respond to all of his clients' requests as it had difficulty accessing funds from its investments with other entities to generate enough cash .

He said the firm has been loyal to its clients for at least 15 years, adding that the recent challenges faced by the financial sector in the country have contributed to the firm's current problems.

He said the government was a beneficiary of Gold Coast operations since it has invested nearly 14 billion GH ¢ since 2014 in various government projects of more than 600, including schools and roads.