“Broke” Menzgold Fails Pay Customers’ Dividends


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Barely three weeks after the central bank issued another disclaimer on the activities Menzgold Company Limited for operating without a license, it looks like the company is cash-strapped.

Reports are that the gold-trading company has failed to pay dividends to its numerous customers.

The company which is known for the prompt payment of dividends since it was established has this time around failed to do so.

According to classfmonline.com, customers’ dividends have delayed for over one week now a situation that has led to uneasy calm among several customers who visited the various branches of the company for their monies.

It is still not clear why the company has defaulted in the payment of customers dividends but a source at the company told this portal that the delays were as a result of wrong bank details that were provided by customers.

He revealed that the company has moved from over-the-counter payment to bank transfers, so wrong bank details will certainly create problems.

The source revealed that Menzgold is committed to paying customers and assured their clients to remain calm.

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