Dr Papa Kwesi Ndoum, Chairman of the Group Ndoum, has voiced unwavering determination that the Bank’s coming administration will reinstate GN Bank’s revoked banking license following the 2024 general elections.
The Bank of Ghana (BoG) reclassified GN Bank as GN Savings in late 2018, granting it six months to meet revised capital requirements after it failed to meet the BoG’s mBoG’sm capital threshold of GH¢400 million by December 31, 2018.
When the bank did not fulfil these requirements by the end of the grace period, the BoG revoked its license in August 2019, alongside 22 other insolvent savings and loans companies and finance houses.
Dr. Ndoum, who recently concluded a nationwide tour and met with various presidential aspirants, has expressed profound appreciation for the unwavering support shown by two candidates, Alan Kyerematen and former President John Dramani Mahama.
Both have publicly and unequivocally committed to supporting the reinstatement of GN Bank should they win the upcoming election, providing a strong sense of reassurance to the public.
“I want“ to express my appreciation for the positions taken by Mr Kyerematen and Mr Mahama, who have publicly stated their commitment to our ‘bring ‘back GN Bank,“ Dr Ndoum said.
He expressed confidence that the next government will restore the banks.
Dr Ndoum also noted challenges in engaging with the ruling New Patriotic Party (NPP) members.
He claimed that despite his efforts to secure meetings, some NPP members have yet to be responsive or reluctant to engage, citing a desire to avoid conflict.
“Now, when you even ask for an appointment or send messages, many do not want to meet. Some quietly indicate they prefer to avoid trouble,“ he said.
