Nana Appiah Mensah, founder of MenzGold Ghana Limited, has filed his witness statement with the Accra High Court. The court has scheduled his cross-examination for Friday, July 17, 2026.
This crucial step follows the completion of the Case Management Conference (CMC). The CMC prepares a case for trial. The court had previously ordered Mr. Mensah to submit this statement in 2024. This filing allows legal proceedings to continue in the high-profile case.
The MenzGold trial fits into a broader narrative of financial sector instability in Ghana. Several high-profile financial institutions collapsed between 2017 and 2019. These collapses affected thousands of depositors and investors. The Bank of Ghana initiated a clean-up exercise in response. This exercise aimed to restore confidence and strengthen regulations. The MenzGold case highlights the need for robust oversight of financial schemes.
Fred Forson, Head of the Coalition of Aggrieved Customers of MenzGold (CACM), confirmed the filing. He stated, “Since 2024, the court gave the order for NAM1 to file his witness statement. He has filed it today, so we are done with the CMC.” This comment underscores the significance of this development for the affected customers.
Mr. Mensah faces multiple charges, including defrauding by false pretence and money laundering. He also faces charges of operating a gold dealership business without a license. He has pleaded not guilty to all accusations. He remains free on bail as the trial progresses. The outcome will be closely watched by affected customers and the public. It could set a precedent for similar cases of alleged financial misconduct. Market participants will also observe the process for insights into regulatory enforcement.
The trial's continuation on July 17 will bring Mr. Mensah back to the witness box. His testimony will be subject to further questioning by the prosecution. This phase is critical for clarifying the facts of the case. It may also provide more details on the operations that led to MenzGold's collapse. The court aims to conclude proceedings swiftly. This will bring much-needed finality to the aggrieved investors. The case has already seen several delays and appeals, prolonging the wait for justice. The legal process is now moving towards a significant juncture. Its conclusion could have substantial implications for the many Ghanaians who lost investments.