Music Producer Fred Kyei Mensah Shares A Very Sad Story Of How Beige Bank Wanted To Take Advantage Of Him When He Became Poor In 2015

Veteran Ghanaian music producer, Fred Kyei Mensah has shared an experience he had with troubled Beige Bank.

Fredima, as he affectionately called revealed in a Facebook post sighted by how Beige Bank and other companies approached him to sell his house to them when he was in crisis in 2015 following the June 3 flood disaster in Accra.

Mr Kyei Mensah said the officials of the company proposed a mouthwatering deal but he is happy he did not succumb to their pressure.

The veteran music producer made this revelation after the Chief Executive Officer (CEO) of defunct Beige Bank, Mike Nyinaku was remanded in police custody for his alleged role in the collapse of his bank.

He advised others to tread cautiously and not be in a haste to dispose of our assets at the least difficulty.

Read Fredima’s Full Post Below:


When i lost my business 5 years ago, several companies came to me to sell my house to them.

Apparently, they had heard of my predicament through the news and the media space. My house is situated in a business environment in Pokuase. Several years ago, it was purely a residential area though closed to the main Kumasi Nsawam Amasaman highway.

Some of the companies that came looking to cache on my vulnerability were the telcos, fast food companies, hardware distributors, banks and all facets of the business community.

Amongst them who pestered me with cash to leave my property was the BEIGE BANK. Herrrr, they had a very strong marketing and sales team who didn’t give me a space to brief. Day in day out, they will come home with mouth watering and juicy deals to convince me to release my property. Poverty or going into a bad situation can lead you to dispose of your treasured property at a very low price. I was facing one of the most challenging tests in my life since my source of income had been truncated as a result of the 3rd June, 2015 flood and fire disaster at the Kwame Nkrumah Circle.

They had even arranged for me to meet the CEO who is under investigation now. When it was announced that the bank had gone into serious crisis, i thanked God for not succumbing to their pressure. The agreement was that, they were going to pay me 60% of the value upfront and later 40%.

By now, 3nka me ho akyere me paaaa. Not all that glitters is gold. Where would i have taken my precious family to? Inflation and all the other economic indicators would have affected the amount of money to be paid if i had accepted their deal. I was smart and had to endure those hard times.

Let’s tread cautiously and not be in a haste to dispose of our assets at the least difficulty.

Beige and UT bank directors, sorry for your situation now.

Kofi Oppong Kyekyeku

Kofi Oppong Kyekyeku is a Ghanaian Broadcast Journalist/Writer who has an interest in General News, Sports, Entertainment, Health, Lifestyle and many more.

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