Story: Yaw Takyi

The traders at Malata and Kaneshie Markets in Accra have appealed to President Nana Addo Dankwa Akufo-Addo to reconsider his decision and restore the licence of GN Bank. 

Mincing no words, the traders slammed the government for rendering many young Ghanaians who were formerly working with some indigenous Ghanaian banks jobless through the so-called banking sector reforms it undertook.

It will be recalled that the ruling New Patriotic Party (NPP) government in 2019 revoked the licences of some financial institutions including GN Bank/Savings.  According to the Bank of Ghana (BoG), GN Bank was illiquid, hence its  decision to withdraw  the bank’s licence. 

But the shareholders of GN Bank have since that time challenged the revocation of the bank’s licence in court, noting that it’s breach of their fundamental human rights.  As part of their fight against the revocation of the licence, former employees of the bank and staff of Groupe Nduom  led by  Dr Papa Kwesi Nduom has embarked on a national tour of over 300 branches of the bank in the country to ascertain the state of GN Bank’s properties. 

At Kaneshie Market on Wednesday, June 26, 2024, the traders  did not understand why the government took the decision to collapse a Ghanaian bank which was supporting their small businesses.

“Our businesses  have collapsed due to the lack of  financial support in the form of loans as we used to get from GN Bank”,  an onion seller told this reporter.

According to the traders, the return of  GN Bank would  not only inject life into their businesses but would  also provide jobs for the teeming unemployed youth.

“Our children don’t have jobs to do. They are now a burden on us after seeing them through school, so we beg  President Akufo-Addo to reinstate GN Bank so that it will offer them jobs”, they further  appealed.

Malata Market was not different as the traders called on  President Akufo-Addo to, as a matter of urgency restore the licence of GN Bank. 

They noted that the absence of the bank had greatly affected their businesses. “ We can’t go to the ‘big’ banks for loan, and that’s why we want  our own GN Bank to  be restored, so that it will help our businesses and also give jobs to our children”, they intimated. 

The second phase of the tour will soon kick-off in the remaining eleven regions of Ghana, Today can confirm. During the first phase  of the tour, Today understands the team covered  five (5) regions including Volta, Western, Central, Eastern and Gt. Accra.