Video: Menzgold not a Ponzi scheme – NAM 1

“People will contest what they do not know. There is a huge debate over whether ghosts exist.” That was the answer given by embattled businessman, Nana Appiah Mensah, when asked whether Menzgold is a Ponzi scheme.

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He explained that, what happened was an innovation gone wrong but it does not negate the fact that, the gold dealership firm was doing very well until the State’s intervention to collapse the company and render many Ghanaians jobless.

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“You might be a lawyer but that does not make you a good businessman. We need to promote mutual respect. Today, telcos in Ghana do mobile transfers but they were given licence to operate as communication companies. So if we have become innovative, it cannot be wrong,” he added.

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NAM 1, as he is popularly called, wondered why the Securities and Exchanges Commission (SEC) wanted him to make profit after asking him to stop operations.

“SEC wants us to shut down our gold platform. That is tantamount to telling shops at Accra Mall to shut down and still make sales,” he stressed.

Source: Ghana | Adomonline.com | Adwoa Gyasiwaa Agyeman

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