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HomeNewsNdoum demands govt reimburse over GH¢7bn owed his companies

Ndoum demands govt reimburse over GH¢7bn owed his companies

Dr. Papa Kwesi Ndoum, the owner of the now-defunct Gold Coast Fund Management Company and chairman of Groupe Ndoum, asserted that the government owed more over GH¢7 billion to two of his companies and other subsidiaries.

Depositor funds were frozen in 2019 when the Securities and Exchange Commission (SEC) suspended the licences of 53 fund management firms, including Gold Coast Fund Management.

Investors and depositors have been pleading for the restoration of their money for years, but to no avail.

Dr. Ndoum has urged the government to pay back contractors who borrowed money from Groupe Ndoum in an attempt to revitalise his businesses.

The head of Groupe Ndoum and owner of the now-defunct Gold Coast Fund Management Company, Dr. Papa Kwesi Ndoum, claimed that two of his businesses and other subsidiaries owed the government more than GH¢7 billion.

The Securities and Exchange Commission (SEC) suspended the licences of 53 fund management companies in 2019, including Gold Coast Fund Management, resulting in the freezing of depositor monies.

For years, investors and depositors have been begging for their money to be returned, but to no success.

In an effort to revive his enterprises, Dr. Ndoum has pushed the government to reimburse contractors who took out loans from Groupe Ndoum.

“Let us devise a payment plan in case the government lacks the necessary funds. The clients pay us; we get paid by them.