In the event that National Democratic Congress flagbearer John Dramani Mahama wins the elections on December 7, the management of Groupe Nduom has asked that GN Bank’s license be reinstated.
In August of 2019, the Bank of Ghana cancelled GN Bank’s license.
On Friday, July 19, Dr. Papa Kwesi Nduom, Global President of Groupe Nduom, expressed his worries on the deteriorating state of 300 bank branches around the country at a meeting with the former President in Accra.
He stated:
“We believe that if this administration doesn’t give us our license before they leave and start paying the money before they leave, we believe that the next one, will understand the situation and give the licence back. So we are continuing with the hope and preparing and working our plans with the hope that, at some point, we will get the licence back and we’ll bring the jobs back. Because it is the jobs, that we are also looking for.”
“So we feel that collapsing a 300-branch financial entity is inimical to the economic interest of the country. So whether it even belongs to us or belongs to someone else, it is something that needs to be there,”
As part of the 2019 banking sector cleanup, the New Patriotic Party (NPP) government decided to remove the licenses of several Indigenous financial institutions. The flagbearer of the NDC condemned this decision, calling it a hasty move.
He went on to say that his administration intends to start an impartial examination of the process of cleaning up the banking industry.
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