The PRO for Zylofon Music, Arnold Asamoah Baidoo has said that the record label is facing some financial challenges.
The challenges the record label is facing is as a result of the problems their parent company, Menzgold is going through.
Baidoo, during an interview on Happy FM, disclosed that Zylofon and its brother company Menzgold are in crisis so we have not been able to support our artists like we used too, so as an artistes that a record label has helped you should be grateful to their label in times like this.’’
Baidoo also in another interview on Peace FM stated that “As we all know Menzgold has been of great support to the Zylofon Music record label. It is the major source of financial help for the label and as the firm is no longer in operation, it is expected that the Zylofon company would encounter challenges.”
As to if any artist has left the record label, Baidoo said “as we speak, Joyce Blessing is part of the record label. No artist has left but the possibility of they leaving in times like this is imminent.”
Since coming into the Ghana Music Industry in 2017, Zylofon Music has signed Becca, Stonebwoy, Kumi Guitar, Joyce Blessing and Shatta Wale.
Joyce Blessing who is currently promoting her new song ‘Repent’ did not give any credit to her record label as she did not get any help from them.
The gold trading firm, Menzgold Ghana Limited started encountering their problems when the Securities and Exchange Commission suspended its operations in the country.
by: Nana Asabere