This is a continuation of The Menzgold Tale by Keera Akosua Nyansapor detailing some facts and details about the Menzgold saga in Ghana. Read the first part here > Brick mansions and 3 lies – The Menzgold Tale and the second part here > Brick mansions and a failed regulation – The Menzgold Tale and the third part here > Questions for an arrogant finance minister – The Menzgold Tale
Over the past few months, the world looked on as Ghanaian regulative apparatus and the police looked on helplessly in the face of Menzgold. There are three clear messages being sent to anybody willing to listen.
Firstly, the laws in Ghana do not work, anybody can take advantage of people for a long period of time and the response of government will be “they should have known better!”
It is important to mention that this is not the first second or even twentieth time this Ponzi scheme has ripped Ghanaians dry. Menzgold might not be a Ponzi scheme, I promised to maintain an objective streak however all logical indicators hold Menzgold guilty to the bone. As a lawless country which allows daily injustice, we have created a society that is truly conscious and aware the law does not work.
Secondly, we have gracefully showed a lack of character and promise in our economic reforms. Our investment capital is so volatile to abuse by repeated “one man show” pranks. Not all the clientele of Menzgold are Ghanaian as such our reputation is spreading.
Our weak economy is increasingly looking unattractive to investors, soon Ghana will be a no go area for investors maybe then our government will grow balls to respond. It is interesting how a company that had gained national prominence and had meetings with the President, the Chief Imam and the Asantehene would be described with ridicule by the finance minister while insulting the intelligence of Ghanaians, maybe the President and other dignitaries should not be meeting questionable characters with a possibility of duping Ghanaians?
In lieu of context, the three most influential personalities in Ghana presently are the President, the Asantehene and the Chief Imam who all welcomed Nana Appiah, the owner of Menzgold into their respective offices where at one meeting Nana Appiah pledged one some amount of money which was met with overwhelming applause.
It is also purported that these dignified persons have invested in Menzgold as well. Most people did not give Menzgold a second look till they saw all the people they look up to engaged in these dealings.
A broad spectrum of musicians/actors/actresses including Stonebwoy, Becca, Joselyn Dumas, Jackie Appiah and our own elected officials normalised and legitimised the business by endorsing its operations.
Once again, I am in no way blaming these officials or celebrities but I insist their role in making the gentleman’s business seem legitimate cannot be overlooked. Most vulnerable people believe they are role models and will understand their yoke and only advance licit ventures.
Describing the circumstances as an obvious trap is misleading because these officials took a centre stage in Ghanaian politics and were up to task on paying all their returns. I do agree with the financial minister when he says we must clean up the financial sector however I doubt a man who makes jokes of people’s predicament and vulnerability will give this issue the seriousness it deserves.
Thirdly, there is a continuous normalization of crime and corruption further. By blaming victims, we tell them anyone can do as they please and there will be no justice. Fundamentally our country is growing into an economically failed state where HIPC might be another option for government again.
It is saddening that these things happened under the watch of a government that came into power by riding the average Ghanaian position thoroughly, the entire campaign of the NPP was sympathetic to the predicament the ordinary Ghanaian was facing yet they stand ignoring thousands of victims when they need action to be taken.
This post was edited by iGhanaian Editors for correctness, however, all views expressed herein remain that of the author, Keera Akosua Nyansapor and are solely her. You can contact the author via email@example.com