Your Investments are Safe!— Gold Coast

In the wake of the crisis in the financial services industry and banking, Gold Coast Holdings Company Limited, a full-blown investment banking firm, has assured its loyal clients that it will continue to work with discipline to ensure their investments are safe.

Consequently, the company has encouraged its customers to be comforted and not panic.

According to a statement, issued by management of Gold Coast over the weekend, it stressed that for the past twenty-five (25) years, it has created and preserved wealth for its clients with sound investment advice.

“Gold Coast has never lost a pesewa for any of its clients,” itt affirmed.

This, Gold Coast said, was a sign of “TRUST and loyalty.”

Furthermore, the statement noted that Gold Coast has made invaluable contributions to the Ghanaian economy.

This, the company has done, by pre-financing over 600 infrastructure projects across the country, including roads, schools, hospitals, bridges, market complexes etc.

Continuing, the statement company added that it has created thousands of jobs and developed a large core of Ghanaian contractors.

Unfortunately, the statement said it has faced panic redemptions of investments by clients.

“This year alone, the company has paid out over GHS1.3 billion of investment funds to its customers. No investment company can survive if even 25% of its customers run to it to redeem their funds invested in productive activities prematurely and at the same time.”

Against this backdrop, the company said it will control the pace of redemptions as part of efforts to preserve and protect all client funds and the investments.

However, the statement indicated that the bulk of the funds with Gold Coast today was invested in the pre-financing of government’s infrastructure projects to the tune of over ghs1.5 billion.”

“For the past three years, some of the contractors whose projects have been completed have not received any payments.

And though payments from the government agencies have started coming in smaller amounts, the statement urged the government to make good on “these receivables.”

Therefore, Gold Coast emphasised that from now on, it will limit payments to the amounts received from government agencies to be made for matured investments.”

Also, as a senior member of the fund management industry, the statement gave the assurance that Gold Coast fully embraced the new industry reforms and directives by the regulator, affirming that it will work to ensure full compliance to eschew market discipline and create value for its customers.

Clients of Gold Coast include soldiers, police men/women, public servants, teachers, lawyers, rural banks and other finance houses, traders, medical and other professionals.

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