Business General

BoG denies US$6m Menzgold rescue package

The Bank of Ghana (BoG) has denied claims that it intends pumping U.S$6 million into gold-trading firm, Menzgold Ghana Limited, on behalf of the government of Ghana toward rescuing the embattled firm.

“That rumour about BoG putting dollars into Menzgold, obviously, this is just misinformation and I don’t think there is any basis for that,” Governor of the BoG, Dr Ernest Addison, said on Monday, 24 September 2018 following a Monetary Policy Committee (MPC) meeting.

Some publications on social media had claimed that Menzgold Ghana was to benefit from a U.S$6 million investment and rescue package from the state to ensure its sustainability.

The publications claimed the U.S$6 million was to be channeled into Menzgold at the behest of President Nana Akufo-Addo.

Dr Addison, however, totally refuted that claim, describing it as false.

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