Accra, Sept. 12, 2025 – The Coalition of Aggrieved Customers of Menzgold (CACM) has renewed its call on government to take urgent steps in retrieving their locked-up funds, exactly seven years after the collapse of the gold dealership firm. The group says thousands of lives have been wrecked by the scandal and it is time for bold, compassionate, and deliberate intervention.
According to the group, the collapse of Menzgold in 2018 wiped away the lifetime savings of hundreds of thousands of Ghanaians both at home and abroad. The CACM insists that the government cannot continue to ignore the plight of citizens whose investments remain trapped despite several promises.
The leadership of the coalition reminded President Nana Addo Dankwa Akufo-Addo and the Attorney General of their pledge to appoint a Receiver to handle the case. They acknowledged recent engagements with the government, particularly the July 29, 2025 meeting chaired by the President, but said concrete action is yet to follow.
In a statement signed by Chairman Fred Forson and Secretary Godfred Ofori, the group revealed that since the collapse, more than 240 customers have died, some through suicide, while others continue to battle life-threatening illnesses and emotional trauma linked to their financial losses.
The coalition also expressed frustration at the slow pace of the ongoing criminal prosecution of Menzgold officials. Although the trial began as a “speedy process,” they lamented that it has now stalled, urging the Chief Justice to ensure daily hearings so that justice is delivered within a reasonable timeframe.
CACM is further demanding that the government include a financial bailout for victims in the upcoming 2026 Budget. They argue that such an intervention is necessary on compassionate grounds to save struggling families from further hardship.
The group concluded by expressing hope that government will act decisively in the coming months. “We trust that the President will be bold enough to bring closure to this long-standing national tragedy,” the statement emphasized.
Read the full statement below!
COALITION OF AGGRIEVED CUSTOMERS (CACM) OF MENZGOLD GHANA
P. O. Box AK 91, Abokobi
Email: forson_frederick@yahoo.com
Tel: 0502133763 / 0244059628 / 0242229576
12th September, 2025
CACM STATEMENT MARKING 7 YEARS OF THE MENZGOLD COLLAPSE AND MATTERS ARISING
Theme: Be Bold, Be Compassionate, and Expedite Action on the Retrieval of Locked-Up Investments in Menzgold in Your 2026 Budget
The Coalition of Aggrieved Customers of Menzgold (CACM), Ghana, is calling on the government of His Excellency, the President of the Republic of Ghana, to be bold, compassionate, and deliberate in expediting action towards the retrieval of our locked-up investments in Menzgold.
Today marks exactly seven (7) years since the collapse of Menzgold, an unfortunate event that resulted in the loss of investments belonging to hundreds of thousands of Ghanaians both at home and abroad.
We respectfully remind His Excellency, the President, and the Hon. Attorney General of the pledge to appoint a Receiver for this matter. We duly acknowledge government’s efforts so far, particularly the interventions of His Excellency and other appointees, culminating in the July 29, 2025 meeting presided over personally by the President.
However, it is deeply regrettable to report that since the collapse of Menzgold, not less than 240 customers have lost their lives, with some dying through suicide, while many others continue to battle severe illnesses and emotional trauma.
The ongoing criminal prosecution, though commenced as a speedy trial, has recently slowed to a snail’s pace. We therefore call on the respected Chief Justice and the courts to ensure that the trial resumes on a daily basis so that justice can be delivered within a reasonable timeframe.
As customers, we look forward to the appointment of a Receiver as promised by the President. We also respectfully urge His Excellency to be bold and deliberate in considering a financial bailout on compassionate grounds in the forthcoming 2026 Budget.
We submit this appeal with hope and trust that government will respond decisively to alleviate the unbearable hardship Menzgold victims continue to endure.
Signed:
Fred Forson
Chairman/Convener, CACM
Tel: 0502133763
Godfred Ofori
Secretary, CACM
Tel: 0244059628
