Support our campaign to restore GN Savings Licence-Groupe Nduom to 2024 presidential candidates

Story: Today Correspondent 

The Today Newspaper can report with authority that Groupe Nduom (GN) on Saturday July 6, 2024 started sending letters to schedule appointments with presidential candidates and political parties.  The Company hopes that t the meetings can begin this week.

The paper understands that the purpose of the meetings is for GN to present petitions asking the candidates and political parties to support its current campaign for the restoration of the GN Savings licencee; and ultimately upgrade back to universal banking status.  The GN delegation will be led by its Chairman, Dr. Papa Kwesi Nduom.

The Bank of Ghana (BoG) on August 16, 2019 revoked the licences of twenty-three (23) savings and loans companies and finance house companies.  This included GN Savings, a company BoG had issued a licence to only in January 2019 following the reclassification of GN Bank as universal bank.  

GN has maintained all along that its companies are owed substantial sums of money by government and its agencies that when paid would have recapitalized and provided a solution to real and perceived challenges.  

Today Newspaper checks indicate that,  the company has  presented a demand letter to the Akufo-Addo Administration months ago for amount exceeding GHS7.1 billion.  The administration and its agencies have not given the courtesy of responses even though they have acknowledged receiving the demand letter.

GN started a public advocacy campaign dubbed #BringBackGNBank this year. 

According to  GN Chairman, the campaign is to set the records straight and explain to the general public the history of GN Bank; the impact it was making in expanding access to banking; the challenges it faced; and the need to restore the licence. 

He said repeated attempts to engage the current administration and the BoG among others such as the House of Chiefs and religious bodies has not yielded positive results.

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