Pay us if you owe us – Gold Coast to debtors

Source The Ghana Report/Sefanam Agbobli

Management of the Gold Coast Fund Management, now Black Shield fund management, is begging its debtors to pay them what they are owed.

The fund management firm believes it will be able to pay back its customers whose investments are locked up at their facility if state agencies and private entities pay back monies which were loaned to them.

Customers of the company have mounted pressure on the company to pay them their locked-up investment, the latest action being a demonstration against the entity.

Public Relations Officer of Black Shield Fund Management, Benjamin Kofi Afreh appealed to all entities who owe his outfit to do the needful.

“I can only plead that anybody who owes us; be it agencies of government or private sector, anyone who owes us should also make it a point to pay what is due so that we can pay our customers as well,” he stated.

Mr Afreh also reiterated the company’s commitment to pay back monies belonging to every customer.

According to him, no customer will lose a pesewa of their investment since they are exploring all means available to settle them.

“It is an unfortunate situation that we find ourselves in. This is a company that has created real value for people for the past 26 years – a company that through some of its pre-financing, has done some real work of development to serve the communities out there. It is a difficult situation but I take consolation in the fact that we will be here to work with our customers to ensure that we pay everybody and nobody will lose any pesewa of their investments.  Whatever management has to do to ensure that we raise the needed funds to pay, I am sure the company will do,” he said.

Meanwhile the Securities and Exchange Commission ( SEC ) is also calling for calm among customers of Black shield fund management.

Head of Policy and Research at SEC, Ashong Katai said they are working to ensure every customer of Gold Coast is paid back his or her money.

“We can revoke the license of Gold Coast and do other things but will that solve the problem? The underlying problem is client money. That is the crux of the matter. We can arrest the directors but will they get the money? We want the clients to get their monies back because if investors lose their monies, market confidence will crash. And when confidence is crashed, the whole capital market will crash and we don’t want to get there,” Mr. Katai disclosed.

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