Story: Atta Kwaku Boadi
Marking a major milestone in Liberia’s financial sector, Dr. Papa Kwesi Nduom, Chairman of Groupe Nduom, delivered a heartfelt address reflecting on ten years of GN Bank Liberia Limited’s operations in the country.
Grounding his address in the biblical promise of Jeremiah 29:11, Dr. Nduom expressed deep gratitude to the nation, its regulators, and its leadership for a decade of sustained partnership.
Reflecting on the institution’s journey since its launch—when it first promised to serve the Liberian people with excellence—Dr. Nduom highlighted the formidable realities of navigating the continent’s commercial landscape.
“It takes tons of courage to start and operate a business in Africa,” Dr. Nduom said during the anniversary event. “It is even tougher to operate successfully in a regulated business such as banking, not just in Africa, but all the world over. So, it is important to pause, show gratitude to those who have supported and continue to support us to stay in business.”
A central theme of the astute entrepreneur’s address was the continuity of support GN Bank had received from successive Liberian governments.
Dr. Nduom extended appreciation to three consecutive administrations, acknowledging the encouragement provided by former Presidents Ellen Johnson Sirleaf, George Weah, and incumbent President Joseph Boakai.
He also commended the Central Bank of Liberia (CBL) for its critical regulatory guidance and for maintaining the institution’s licence to operate.
Highlighting Groupe Nduom’s broader contribution to the national economy, the Groupe Nduom chairman pointed to the success of its affiliate, the Liberia Enterprise Development Finance Company (LEDFC).
Through joint cooperation between the CBL, the Liberian government, and international partners, LEDFC, he said had injected over $30 million in investment funds into indigenous Liberian enterprises.
Addressing stakeholders directly, Dr. Nduom reaffirmed the bank’s commitment to former clients of the First International Bank of Liberia, the CBL, and the general public.
He pledged that GN Bank would continue to deploy top-tier management, modern technology, and accessible, close-to-client financial services.
“We pledge to serve with discipline and enthusiasm,” Dr. Nduom assured, reiterating the institution’s goal to remain Liberia’s bank of choice for the next decade and beyond.
The bank’s history traces back to June 2016, when the Central Bank of Liberia approved the liquidation of First International Bank Liberia and granted an operating licence to the Ghana Growth Fund Company (a member of Groupe Nduom).
Beginning operations as GN Bank Liberia Limited, the institution assumed key assets and liabilities of the defunct bank under a two-phase strategic vision; first stabilizing operations, then leveraging technology to modernize banking across the nation.
On August 5, 2020, the Central Bank approved a new licence for the institution to operate as Sapelle International Bank Liberia Limited, now widely known as SIB.
Over the past ten years, SIB has expanded its network to include 13 operational locations, comprising 11 main branches and two cash centers. Its reach includes physical presences in key locations such as; Monrovia, Sinkor, Redlight, Freeport, and Clara Town.
Other regional hubs include, Kakata, Buchanan, Ganta, and unique presences in Bomi and Sinoe counties.
Today, the bank supports over 20,000 customers and manages nearly 71,100 active accounts.
The event was attended by senior management from Groupe Nduom, including Vice Chairperson Mrs. Yvonne Nduom and President of Groupe Nduom Ghana, Dr. Nana Kweku Nduom. Prominent figures from Liberia’s financial sector were also present, notably the Executive Governor of the Central Bank of Liberia, Hon. Henry F. Saamoi.
