Ndoum hopeful Mahama won't turn a blind eye to GN bank's legacy

The Global Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom, has expressed confidence in the incoming National Democratic Congress (NDC) administration led by President-elect John Dramani Mahama, voicing hope for the restoration of GN Bank.

Speaking during the 30th-anniversary celebration of Coconut Grove Beach Resort in Elmina, a flagship business of Groupe Nduom, Dr. Nduom highlighted the bank’s historic role in supporting underserved communities and its potential for revival.

“GN Bank has always been a people-centred institution, serving communities that many financial institutions overlooked,” Dr. Nduom stated.

“I am hopeful that this new administration will recognize the value we brought to the sector and work with us to restore what was unfairly taken away.”

GN Bank, once a leading indigenous financial institution in Ghana, was downgraded to a savings and loans company and subsequently collapsed during a banking sector clean-up.

The bank’s managers were accused of breaching regulatory requirements, a claim Groupe Nduom has contested.

Dr. Nduom expressed optimism that a partnership with the Mahama administration could breathe new life into the bank.

“We built GN Bank with a mission to empower small businesses and rural communities. Its restoration would not only benefit our customers but also contribute significantly to Ghana’s economic growth,” he emphasized.

Reflecting on the resilience of Groupe Nduom, he noted: “Our businesses have faced challenges, but we remain steadfast. I am optimistic that with the right leadership and support, we can rise again, stronger than before.”

The 30th-anniversary celebration of Coconut Grove Beach Resort featured heartfelt speeches, community engagement, and a carols night.

Dr. Nduom’s appeal for GN Bank’s restoration resonated strongly with attendees, who shared his vision for a renewed focus on economic empowerment and growth.