Elmina Residents Protest, Demand Reinstatement of GN Bank

A massive protest took place in Elmina, Central Region, on Monday, December 2, 2024, as part of the ongoing "Bring Back GN Bank" campaign. Hundreds of demonstrators, led by Dr. Paa Kwesi Nduom, marched through the streets, expressing frustration over the bank's collapse in 2019 and calling for its reinstatement to support local businesses and restore jobs ¹.

The protesters felt betrayed by traditional authorities and the government, with some criticizing the leadership of the Elmina traditional council. Dr. Nduom, founder of Groupe Nduom and GN Bank, emphasized that the bank's closure was a targeted attack on Ghanaian entrepreneurship and innovation. He remains hopeful that a new administration will see the value in bringing back the People's Bank.

The protest is part of a broader nationwide campaign, with similar events taking place across the country. Dr. Nduom expressed optimism about the bank's potential reinstatement, saying, "The journey is far from over. With the support of the people, we will succeed."

GN Bank's license was revoked by the Bank of Ghana in 2019, along with 22 other savings and loans companies and finance house companies. Despite a court upholding the revocation, Dr. Nduom continues to advocate for the bank's reinstatement.