When #menzgold started. I told one of my friends, this is a ponzi scheme (a term and understanding I first got from Prof. John Gatsi when I organized the 1st West Africa Microfinance Conference in 2013) and I will never invest my money there. I’ll try and find out where the owners of the firm invest people money before they are able to pay those huge interests. If I get the type of business venture they invest in that yields that much to the extent that they are able to pay their customers that much then as a businessman, I will go invest in that business venture too but not with menzgold.
I tried explaining to anyone that seeks my view on investing in menzgold that the venture is not sustainable.
At the time, it was the NDC that was in power when it all started. The manager of the country then did nothing or little to stop menzgold getting to where they are now.
Today, NPP is in power and the managers of the country noticed that the mensgold’s operations are not consistent with the law, is a pond scheme and not sustainable hence their decision to stop their operations.
At the time that government was issuing a warning to customers, a taxi driver I was explaining things to on why the NPP government’s action was the best on the issues insulted me as an evil man and that I was praying for menzgold to collapse. He also told me that he knows an NPP minister’s wife who invests in mensgold and that if it is not a good business why would a minister’s wife be investing there.
Now here we are. I heard Hon. Ato Forsen saying the NPP government is tuning always from their responsibility.
Who is to blame for this tragedy?….. The NDC, NPP, the owners or the customers?
