#BringBackGNBank campaign hits the Northern region

The second phase of the #BringBackGNBank national tour has began in the northern part of Ghana, with a continued call on the ruling government to reinstate the bank's license.

The first part of the tour, which began on Sunday, May 26, 2024, covered six regions: Eastern, Western, Central, Volta, Greater Accra, and Ashanti.

Led by the chairman of Groupe Nduom, Dr. Papa Kwesi Nduom, the team intends to visit all 300 branches of the bank in all sixteen regions to assess the state of the bank's properties and interact with Ghanaians, particularly market women and men who were primarily customers of the bank.

The upcoming tour will cover Wa, Bolgatanga, Walewale, Karaga, Tamale, and Sunyani.

Dr. Nduom stated in an interview with Today Newspaper that, "the #BringBackGNBank campaign is a national journey for local economic development."

As part of the tour, the renowned entrepreneur and businessman will engage with Ghanaians live on Suhupielli FM at 5:00 P.M and 8:00 P.M on Tuesday, August 20, 2024.

He mentioned that the campaign is a continuation of a national tour he led in 2018/19 when the Bank of Ghana revoked the licenses of some indigenous banks, including GN Bank/Savings.

During that period, the message to Ghanaians was to support indigenous banks and financial institutions to ensure control over the economy. It was to show that indigenous financial institutions, especially banks, had invested deeply in regions outside of regional capitals to provide safe and secure services.

GN Bank, with 300 branches, became the bank with the widest retail footprint.

The tour aimed to demonstrate how banking services at people's doorsteps could promote economic development nationwide.

Following the collapse of indigenous banks in 2018 and 2019, the local economy suffered, especially micro to medium businesses that relied on these banks for support.

Dr. Nduom noted that the void created by the collapse of indigenous banks had not been filled and emphasized that foreign-owned or high street banks could not fill that space.

The national tour is meant to reaffirm the shareholders' commitment to reviving the bank and bringing safe banking services to people all over the country.

“It is to explain the circumstances that led to the withdrawal of the bank’s licence and explain how the shareholders are working to return to the field”.

“It is the Groupe Nduom’s belief that by telling its story of support to the people, and the role the company can play to revive the local economy, the current government administration or the next one will listen to the people; and make sure that GN Bank comes back to serve its critical and useful role; with products and services in more than 300 locations countrywide”, he said.

Dr. Nduom expressed the belief that by sharing the company's story of support and its role in reviving the local economy, the government would listen to the people and ensure GN Bank's return to serve its critical role.

He also called on the government to urgently pay the debts owed to Groupe Nduom companies, stating that if these payments had been made, GN Bank would not have been declared insolvent.

Dr. Nduom further stressed the importance of lifting the embargo on payments to Groupe Nduom companies and contractors to prevent further financial strain.

“We are calling on the current Akufo-Addo Administration to lift the embargo on payments to Groupe Nduom companies and the contractors whose contracts they had pre-financed. That debt has ballooned to over 7.1 billion Ghana cedis and is still climbing”, he said.

“This current national journey is to find out if the people want GN Bank back to serve them; and if the demand for its unique mobile and digital support banking services still exist”, Dr Nduom said.

While the focus is on banking and GN Bank, Dr. Nduom plans to use this journey to showcase Groupe Nduom's diverse portfolio of goods and services made in Ghana, illustrating their commitment as stakeholders in the Ghanaian economy.