Accra, Ghana
36°C

GSE Feed

Forex Rate

We’ve not violated any law–Menzgold to PMMC

menzgold

The lawyer for Menzgold Ghana Limited Kwame Akuffo has strongly refuted claims by the Precious Minerals Marketing Company (PMMC) that the company is not licensed to buy and sell gold in Ghana.

His comments follow recent media reports by the Managing Director of the PMMC, Kwadwo Opare Hammond, that Menzgold is not licensed to buy or sell gold.

According to Mr. Hammond, even though it granted an initial license to Menzgold in 2014, it has since revoked that license.

In a quick rebuttal, Mr. Kwame Akuffo in an interview with Citi Business condemned the assertions of PMMC, describing it as a calculated attempt to discredit the company.

“There has never been a singular occasion in which PMMC has revoked the license of Menzgold Ghana Limited. It has never occurred. Menzgold took out a license in 2014. It expired in November 2015, they took out a subsequent license in 2015 which expired in November 2016. There was no need for a renewal of the license. The word renewal is completely different from a revocation”.

Mr. Akuffo explained that Menzgold did not require further license from the PMMC, hence moved to the Minerals Commission.

“There was no need or economic sense to renew the license with the PMMC. So our client then went to the Minerals Commission and obtained the requisite export license”.

“We have not violated any law. Call up Mr. Opare Hammond and ask him to point to a section of a specific legislation passed and ratified by the parliament of this republic telling us which law my client has violated,” he stressed.

Mr. Akuffo asked Opare Hammond to do the honorable thing by retracting and apologizing for the statement he made because it’s completely unwarranted.

By: Bobbie Osei/citibusinessnews.com/Ghana

Citi Business News