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Since the order of closure from SEC was sent to the Nana Appiah Mensah’s Menzgold for “Violating Operational Permit”, a lot of questions have been raised out of anxiety for the survival of Menzgold.
But one major question that has been on the lips of many people and it’s worth discussing here on Newsofafrica.com is the survival of Zylofon group.
If the unfortunate thing happens and Menzgold is ordered to shut down completely or even worse, the CEO was arrested for fraud and running “Ponzi Scheme” as being suggested by many well-respected people including the MP Kennedy Agyapong, what happens to Zylofon Media next and all the other Zylofon group?
According to reports, Menzgold is the financial backbone of all the other luxurious companies established by Nana Appiah Mensah best known as NAM1.
It’s clear that Zylofon Cash, Zylofon Art Fund, Zylofontheater, the recently opened Zylofon properties and most importantly Zylofon Media do not rake in much money as expected of such huge companies.
Recently, it was revealed that Shatta Wale’s Gringo has made less than GHS10 after being on Zylofon cash for months. So Zylofon cash is completely out of resources to sustain even itself considering the highly skilled personnel employed there.
Although the online movie cinema Zylofon theatre has been launched sort of, it’s not even functioning effectively as expected. Obviously, more works are being done to perfect it.
Zylofon Art Fund does not in anyway generate money. At best, it gives out money to creative artists to fund their project and pay back later. Zylofon Properties was recently launched; It is yet to find its feet to compete with the hundreds of other real estate companies.
