Safeway Tilapia Company Limited (STCL) is operating “Tilapia” business in the Western Region. There are more than 1,000 people who are investing their funds are asking for a refund of their investment.

The Western Region residents have blamed the STCL of deceiving them of thousands of Ghana Cedis and requested to government to interfere to get their investments back.

Warrant Officer Francis Affizie (Rtd), the Spokesperson and Chairman of the aggrieved investors, said  some of them started investing between GHC 1, 000 and GHC 50, 000 since 2012 in Safeway’s tilapia business.

Francis Affizie (Rtd) said the guaranteed returns with the range between 80 % compound interest and 100 % for the 1st, 2nd and third years respectively.

Warrant Officer Affizie (Rtd) said the members of the company’s management included Mr Jim Walter Foster, as the Chief Executive Officer and Mr Torkornoo Menson, a former Managing Director of Amalbank as the Board Chairman.

He said they started as impartiality partners in the tilapia business and were given certificates as their investments evidence.

However, when their investments developed and went to the regional and national offices of the Company for payment, contact numbers they provided could not be reached and all the offices were closed downS.

STCL is the subsidiary of Safeway Estates Limited taking tilapia hatchery project in the South Dayi District of the Volta Region at Abui.

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