Aggrieved customers of the now-defunct Gold Coast Fund Management plan to stage a protest at the Ministry of Finance on Tuesday, October 10, 2023, demanding the release of their frozen funds.
The group claims that despite Parliament’s approval of GH¢8.6 billion for the settlement of their members, the funds have yet to reach them.
In 2019, the Securities and Exchange Commission revoked the company’s operating license as part of the government’s cleanup of the financial sector.
Charles Nyame, the convener of the aggrieved customers, expressed frustration that over 800 of their members have passed away in the past five years due to the government’s refusal to repay their investments. Mr. Nyame disclosed this during an interview ahead of the planned protest.
He stated that the group intends to remain at the Ministry’s premises until their blocked funds are released.
“It has been five years, and we have over 800 of our colleagues who were old people and are now dead. We have evidence of their obituaries. That is the reason why we are going to the Finance Ministry to picket for 48 hours non-stop. We demand that the Finance Ministry release monies to the commercial banks to credit our accounts before we will leave the place.”
“We are going to picket in front of the Finance Ministry. We will converge at the Obra Spot, and we will wait for all our members from other regions. Buses will pick us all up, and we will go to the Finance Ministry to picket for 48 hours.”
Mr. Nyame assured group members that the police have not objected to the planned protest and encouraged them to assemble at the Obra Spot on Tuesday to be transported to the Ministry of Finance.
“In the letter we wrote to the police, we indicated that we were going to hold a 48-hour picket within the premises of the Finance Ministry. The police raised no issue to that effect, so we expect that we will hold our picket at the ministry’s premises.”
