Dr. Papa Kwesi Ndoum<\/strong><\/p>\n\u00a0<\/p>\n
The Chairman of Groupe Ndoum and the owner of the defunct Gold Coast Fund Management Company, Dr. Papa Kwesi Ndoum, is claiming that the government still owes two of his companies and other subsidiaries over GH\u00a27 billion.<\/p>\n
This follows the revocation of licenses by the Securities and Exchange Commission (SEC) of 53 fund management companies, including Gold Coast Fund Management, in 2019, resulting in the freezing of depositors\u2019 funds. For years, depositors and investors have been demanding the return of their funds without success.<\/p>\n
As part of a renewed effort to revive his companies, Dr. Ndoum has called on the government to reimburse contractors who borrowed money from Groupe Ndoum.<\/p>\n
He stated that if the government had paid some of the contractors years ago, his companies would not have had the current financial challenges.<\/p>\n
\u201cA debt that used to be GH\u00a21.8 billion is now more than GH\u00a27.1 billion. It is growing every day with interest. So the government of Ghana and its agencies, if they had paid us even one-third of that money to the contractors six years ago, there wouldn\u2019t be a Gold Coast or Black Shield problem,\u201d said Dr. Ndoum.<\/p>\n
He further added, \u201cIf the government doesn\u2019t have the money, let us come up with a payment plan. They pay us, the customers get paid.\u201d<\/p>\n
The collapse of the Gold Coast Fund Management Company and the subsequent freezing of depositors\u2019 funds have been a major concern for many Ghanaians.<\/p>\n
The government\u2019s alleged debt to Groupe Ndoum has only added to the ongoing financial crisis.<\/p>\n
By Vincent Kubi<\/strong><\/p>\n\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"
Dr. Papa Kwesi Ndoum \u00a0 The Chairman of Groupe Ndoum and the owner of the defunct Gold Coast Fund Management Company, Dr. Papa Kwesi Ndoum, is claiming that the government still owes two of his companies and other subsidiaries over GH\u00a27 billion. This follows the revocation of licenses by the Securities and Exchange Commission (SEC) […]<\/p>\n","protected":false},"author":1,"featured_media":184532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-184531","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
Govt Owes Groupe Ndoum GH\u00a27bn, Claims Chairman - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/05\/30\/govt-owes-groupe-ndoum-gh\u00a27bn-claims-chairman\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Owes Groupe Ndoum GH\u00a27bn, Claims Chairman - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Dr. Papa Kwesi Ndoum \u00a0 The Chairman of Groupe Ndoum and the owner of the defunct Gold Coast Fund Management Company, Dr. Papa Kwesi Ndoum, is claiming that the government still owes two of his companies and other subsidiaries over GH\u00a27 billion. 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