In a move to address the ongoing situation surrounding locked-up funds, Menzgold Ghana has announced a new customer validation initiative aimed at facilitating the processing of payments for affected clients.
The company, facing complex financial challenges, revealed this strategy through an official letter dated August 18, 2023, to its customer base.
Citing preliminary assessments, Menzgold emphasized the significance of this validation exercise.
The company acknowledged that the initial assessment unveiled a concerning number of claims marked by unacceptable infractions that rendered them invalid.
The statement read, “Unfortunately, it was determined that over sixty percent (60%) of the claims were fraught with unacceptable infractions which invalidate the claims in question.”
The focal point of this latest approach is the Menzgold Digital Verification Access Card process. This digital verification mechanism has been introduced to meticulously verify transactions and authenticate claims.
To participate, customers must acquire the Menzgold Digital Verification Access Card at a cost of GH¢650 each from authorized Payboy Agents.
The card serves as a gateway for customers to access the status of their transaction validation. Between August 10, 2023, and September 14, 2023, customers can utilize the card to review their validation status.
The process also entails uploading original colored soft copies of supporting documents related to their transactions.
This validation initiative underscores the company’s commitment to comprehensive due diligence in addressing its financial obligations. The statement stressed that this final phase of due diligence is of paramount importance and is the most robust standard in this ongoing effort.
However, it was emphasized that Menzgold cannot provide free verification services as it is diligently allocating its resources toward debt payment, aligning with its commitment to address its liability.
The statement concluded with a critical note, warning customers about the repercussions of neglecting the process.
Those who fail to participate risk forfeiting their claims, as non-compliance implies a waiver of their claim rights. As Menzgold navigates its financial challenges, this validation initiative seeks to bring clarity to a complex situation and provide a structured path forward for its clients.