Patronise indigenous banks - Nduom urges Ghanaians

Dr. Paa Kwesi Nduom, the President of Groupe Nduom, has urged Ghanaian businesses and individuals to patronise indigenous banks so that the financial resources would remain in the local economy for rapid development.

He noted that powerful nations in the world with buoyant economies hinged their successes on indigenous banks and mentioned the Barclays Bank of England and the GB Morgan of the United States as classic examples.

“When the American Government was in financial crisis, it was an indigenous bank that came to its rescue,” he explained

Dr. Nduom said this at the opening of a new branch of GN Bank in Axim in the Nzema East Municipality of the Western Region.

He asked Ghanaians to support local banks to remain formidable and competitive on the financial market so that it could support the Government and Ghanaian entrepreneurs.

He announced that the Bank would be listed on the Stock Exchange next year so that interested persons could buy shares and become equity partners who would receive dividends annually.

Dr. Nduom gave the assurance that the Bank would offer loans to deserving businesses and individuals and, therefore, entreated beneficiaries to repay their loans in time so that it could give the same assistance to others.

The General Manager of GN Bank, Mr. Kofi Asamoah Siaw, said the Bank had 267 branches across the country rendering various services and products including, Money Transfer, Kiddy Account, Life Insurance Policy and future education plan known as “Wo Dakye Account”.

He said anyone could open a new account at the Bank with just 50 pesewas and earn nine per cent interest per month.

Nana Kofi Bentil, the Chief Fisherman of Axim, said fishing was the mainstay of the people in the area, and expressed optimism that the Bank would enhance the local economy.