Aggrieved Gold Coast customers appeal to government


The Coalition of Aggrieved customers of Gold Coast Fund Management (GCFM) have appealed to government to consider their plight and implement meaningful policies following the revocation of the license of the Fund.

These demands were made in a press engagement held in Accra to address challenges imposed on customers as a result of government’s decision to revoke the license of GCFM and to set the company on a path of liquidation because of its in ability to meet demands of its customers.

Mr Charles Nyame, Public Relations Officer (PRO) of the coalition, said instead of liquidation which would worsen the state of customers, government should rather guarantee against the assets of Gold Coast and Group Nduom Companies and credit the respective bank accounts of customers with payment timelines by December 2019.

He said the government should arrange a meeting between the Finance Ministry, SEC and the leadership of the customers to deliberate on the best possible solution adding that the capped amount of GHC 10,000 or 20,000 as being proposed by the Finance Minister should be looked into considering the different levels of individual investments with the company.

“The capped amount is irrational since it does not address the urgent need of all categories of investors but it would rather worsen the already deplorable plight of majority of the customers,” he said.

Mr Nyame, said the regulator should issue receipts of evidence to customers who have partaken in the on-going validation process and also put in measures to allow customers currently living in the diaspora to validate in a well-organised process.

“The government must create an online platform or portal to enable customers abroad partake in the validation process because I have received over 500 calls from customers overseas who did not know of the process,” he said.

He appealed to government on behalf of its leadership and membership to apply every means possible to save innocent customers from the hardships they are facing to make their lives better.

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