Nana Appiah Mensah, popularly known as NAM1, CEO of Embattled gold dealership firm, MenzGold Ghana Ltd has stated categorically that MenzGold is not a ponzi scheme.
According to him, MenzGold created a platform where gold traders worldwide meet to trade their golds.
Since MenzGold is the sole owner of this platform, all traders that trade gold on the platform pays them royalties for using their platform known as the gold collectable trade.
This was a reply to a question posed by Annold of Zylofon TV as to whether MenzGold is a ponzi scheme or not.
NAM1 went ahead to explain how alot of people all over the world contest or doubt the validiity of things they have limited knowledge on.
He went ahead to explain how Alibaba makes alot of money just by allowing people to buy and sell on their platform, MenzGold also earns commission from traders in addition to selling their own gold.
So MenzGold or the trading activities of MenzGold can no way be described as a ponzi scheme.
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