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Ndoum calls on govt to pay over GH¢7bn owed his companies

Dr. Papa Kwesi Ndoum, the owner of the now-defunct Gold Coast Fund Management Company and chairman of Groupe Ndoum, asserted that the government owed more over GH¢7 billion to two of his companies and other subsidiaries.

Depositor funds were frozen in 2019 after the Securities and Exchange Commission (SEC) suspended the licenses of 53 fund management firms, including Gold Coast Fund Management.

Investors and depositors have been pleading for the restoration of their money for years, but to no avail.

Ndoum calls on govt to pay over GH¢7bn owed his companies

In an attempt to revitalize his businesses, Dr. Ndoum has urged the government to pay back contractors who took out loans from Groupe Ndoum.

According to Dr. Ndoum, his enterprises would not be in their current financial situation if the government had paid some of the contractors years ago.

“A debt that used to be GH¢1.8 billion is now more than GH¢7.1 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’t be a Gold Coast or Black Shield problem.

There wouldn’t be a GN Bank problem, there wouldn’t be a problem with any of our companies. So today, what we are asking is we are saying let them pay the money.

“If the government doesn’t have the money, let us come up with a payment plan. They pay us, the customers get paid.”

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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