Dr Papa Kwesi Nduom
Dr Papa Kwesi Nduom

Gold Coast Fund Management (GCFM), on Monday, said it has invested more than two billion Ghana Cedis in infrastructure and commercial projects for the GetFund, Cocobod, Road Fund, District/Municipal Assemblies and private companies.

The Company is, therefore, working with ‘quiet assertiveness’ with government agencies and private sector organisations to pay what is due to Gold Coast so that it would use the funds to pay the emergency needs and interest arrears of clients.

A statement signed by Dr Paa Kwesi Nduom, the Chairman of Groupe Nduom, and copied to the Ghana News Agency, thus debunked the allegation that the investment of clients had been sent abroad.

Dr Nduom explained that it would be more prudent to allow investments to run their course before calling them.

Many people would lose money should the Company redeem its investments before they gain full value; or should it sell its assets.

“Investments with Government agencies, once they are legitimate, ‘do not go bad’, otherwise, no investor – local or international- will respect Ghanaian sovereign guarantee,” Dr Nduom assured.

“About 500 million Ghana Cedis has been invested with financial institutions and in real estate projects, while hundreds of million have been invested in agriculture, manufacturing, media and other enterprises that are creating jobs.
“For over 25 years, your money invested in Gold Coast has built clinics, hospitals, roads, bridges, classrooms and factories all over the countries.

“More than 600 infrastructure have been funded for local contractors. Tens of thousands of full-time jobs have been created. It is because of the Gold Coast Investment discipline that has made it possible for thousands of people to gain significant returns on the original amounts invested.

“It is because of the Gold Coast Investment discipline that has made it possible for thousands of people to gain significant returns on the original amounts invested”.

The GCFM said it was because of its astute decisions and the benefits, thereof over the years that their clients had made it the biggest fund manager in the country.

The Company has since last October run into some liquidity problems largely over the high debts owed to it and panic withdrawals by clients following the collapse of Menzgold and some investment companies.

The Securities and Exchange Commission also directed it to halt its structured finance product.

GCFM says it is working with the regulator to roll out alternative valuable products for its clients under the scheme, while it paid off, over a period, those who would insist on opting out.
It has so far paid more than 60 million Ghana cedis to clients.

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5 COMMENTS

  1. Please supply our immediate needs ,some of us ,have medical needs It Will be useless ,to to talk of “allaying fears ” when we are queuing up to die!!!!

  2. GCFM must supply the needs of its customers as a matter of URGENCY. SOME need drugs ,food ,pay Utilities and a living .Not after death but now, I am 79. What are U doing to me ,,,Killing me slowly ???. So that U can build an EMPIRE of businesses !!???

  3. I AM IN SERIOUS ANGUISH ,,ASK. FRANK WHOM I HAVE MET AT THE COCONUT GROVE HOTEL ACCRA,, I WANTED TO SEE MADAM NDUOM, BECAUSE I HAD A DREAM TO SEE HER,BUT WAS BLOCKED.

  4. I will continue to fight at all levels until GCFM pays me my interest to make a living or die in the cause of it. I repeat I am 79.Nobody except the untutored wants the Downfall of GCFM or Group Nduom’.. Investors should not be seen as saboteurs. Legally every investment is TIME BOUND, The one who does not go by the legal agreement of TIME . SHOULD be the saboteur, If investors did not have LOVE for GN and its affiliates,We would not have chosen any of the Group Nduoms . Some of us were so over fanatically enthusiastic ,that we are with GCFM ,the GN Bank ,and even patronise the GN Electronics . If we are not liquid financially, how will all the other Group members grow financially ,It is a viscous circle ,so who is the Saboteur,!!!!!!!!???? Or should allay fears!!!!???? GCFM is strangling GN savings and loans ,and GN savings and loans is holding the neck of GN Electronics,this goes to affect the other Divisions. Please GCFM find out whether my GN Bank cheque I issued on Valentine chocolate Day,at Coconut Grove Hotel ,had been cleared. GCFM is supposed to feed my account at GN savings and loans.Na who causam.!!!!???

  5. The fear that should be “allayed “. is that GCFM ,which is the hen that lays the Golden Eggs , is killing its affiliated GN groups,,,, .My GCFM investment accrued interest is supposed to be saved at GN savings and Loans ,for my current withdrawals on gradual basis ,and not at a go. Thus giving some liquidity to GN savings and Loans. Like a relay process GN (Bank)Savings and Loans is also killing the other GN Divisions eg Electronics ,. HOW,,,?? It is a viscous circle. I patronise GN Electronics and pay through GN (Bank)… savings and Loans,as by then a cheque. I patronised Coconut Grove Hotel, as I did last Valentine Chocolate Day with my family, ..and paid through GN (Bank) Savings and Loans again by a cheque. Now I am in red at GN savings and Loans,,,. As a pensioner GCFM is my only source of income, Now if GCFM is not feeding GN savings and Loans with my accrued interest,,, GN Savings and Loans will definitely be in distress,, and like a plaque affect payment to other GN Divisions ,,, So who is the Saboteur of GN GROUP., , , , ,,,,,,,,,, ,,, ,,,,,, ,,,Definitely GCFM is holding the neck of its sister Divisions and starving them of financial liquidity. Also fear from depositors is increasing by DAY. Who will deposit in a luckup.

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