The Menzgold saga, illustrates perfectly, why clever entrepreneurs in Ghana ought to surround themselves only with professional advisers, who are lateral-thinkers - and for whom corporate good governance principles actually matter: and underpin what they do at all material times. That leads to tranquility in the challenges-ridden business environment our nation's crop of entrepreneurs operate in and have to contend with.
The question to ponder over is: Surely, a private Ghanaian company that over the past five years has apparently been able to export as much as US.$60 million worth of gold, ought to have been creative enough within that time-frame, to have successfully transformed itself into a world-class entity by now - if it had procured a license that would have enabled it to develop Ghana into a global market place for gold coins and credit-card-card-sized gold bars? Ebeeii.
That lapse notwithstanding, if by some miracle the company is able to resolve the regulatory issues currently facing it, Menzgold should move quickly to get permission from the Precious Minerals Marketing Company (PMMC), to produce Adinkra-embossed credit-card-sized gold bars and gold coins - and make that its main focus. Clearly, there is a sizable market in Ghana, for what still remains the best store of value, for canny investors worldwide. So, so simple: Nothing Kweku-Ananseish about investing in credit-card-sized gold bars and gold coins, which you take away after purchasing, to store safely yourself, is there? Surely, adopting that business model ought to be the future course for Menzgold to chart? Haaba.
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