Embattled Chief Executive of Menzgold Company Nana Appiah Mensah has finally met with members of the press and addressed the crisis involving the failure to pay its clients.

Speaking to the media in a press conference at the MJ Grand Hotel this morning, NAM 1 gave three requests to the Ghanaian government to help him recover funds and proceed to make the necessary arrangements to start paying its customers.

We can’t make payments when our bank accounts are still frozen – Nana Appiah Mensah to Menzgold customers

Read part of his statement below.

All companies worldwide have liabilities in its books and so do Menzgold. Business in summary is all about owing and being owed. We at Menzgold are committed and do express our willingness to service our debts portfolios to our customers and business associates as soon as we can with a given opportunity. We respectfully pray the Ghanaian authorities to cooperate with us to achieve the following;

1.         To assist us make full recovery of the amount owed Menzgold by Horizon Royal Diamond in Dubai. As an act of good faith, we are willing to engage the Attorney General’s office on the best possible way for the them to aid Menzgold by employing international law and diplomatic relations to ensure we achieve this objective.

2.         To unfreeze our Companies and my personal bank accounts and assets for us to utilize these as vehicles to get productive in other to meet our liabilities, owed to our customers and some business associates in our bid to resolve our liabilities immediately. As of now, Brew Marketing Consult, Menzgold and I cannot credit or debit any bank account in Ghana. This is why it is highly imperative to consider this kind request, as I believe, government shares in our resolve and would do all that which is needful in our quest to satisfy the populace, who are our customers. 

3.         To clearly give direction as to which government agent or agency has jurisdiction to regulate the activity of a “gold collectible/jewelry trade” in Ghana, just so we can apply for the necessary certifications in other to proceed with our business in a fair and sound manner. As we have publicly demonstrated, we are open to fair supervision and are opposed to no supervision, misconceived supervision or supervision with malicious intents, respectfully. The founders of PayPal; Elon Musk and co.; set out to create a new internet currency to replace the US Dollar, Facebook’s Mark Zuckerberg’s first product was designed to only get his classmates signed up, not the earth’s population, Travis Kalanick and Garrett Camp’s Uber, started only to supplement the taxi fleet in San Francisco, Brian Chesky, Joe and Nathan started Airbnb as a means to rent out an unused space in their abode to get income to supplement a deficit for a pending event, Evan Spiegel, Bobby and Reggie started what came to be known today as SnapChat, as sending naughty disappearing fun photos when they were all student at Stanford University. America’s media called it a “sexting App”, Jeff Bezos started Amazon as a digital bookstore in a garage, was heckled by the big players in the books retailing business, Jack Ma fought through and achieved Alibaba in China and the list goes on. All of these innovative breakthroughs had regulatory questions, suffered bad press. Uber and Airbnb particularly have suffered global protests, Travis Kalanick; founder and first CEO of Uber especially, fought many regulatory and legal battles. Today, these great Innovative Companies are pillars of the great Silicon Valley, receiving global tributes for the United States of America. These are just symptoms of disruptive business ideas. Menzgold is today characterized by same traits and I have no doubt in mind that, our company is on the path to greatness and global prominence. 

If these three propositions are reviewed and considered, we shall confidently proceed to make the necessary arrangements to start paying our customers immediately under my watch. This i say with my personal guarantee.

Ending his speech, Nana Appiah Mensah said: “Last but not the least, to the many Ghanaian and African youth, as well as the aged who believes in me and the Nam Mission. We shall continue to contribute to those in authority, for creation of the new Ghana and the new Africa for the new Ghanaian and the new African, in the new African socio-economic front. I am well aware, that many of you crave African posterity, to you all I ask; The Egyptian who conceived the idea of the pyramid and actually built it, had same natural abilities we have with less access to information than we do today, yet succeeded. Which African would build the next “Egypthian pyramid”? Ghana Shall Prosper, Africa would be great again.”

I will address the press on August 19 – Menzgold CEO, NAM1