The management of Groupe Nduom has petitioned the National Democratic Congress’ presidential candidate, John Dramani Mahama, to reinstate GN Bank’s licence if he wins the 2024 election.
Dr Papa Kwesi Nduom, the Chairman of Groupe Nduom, led the company’s management.
At today’s meeting, Friday, July 19, 2024, the founder of the Progressive People’s Party raised concern over the deterioration of 300 of the bank’s centres across the country.
“We believe that if this administration doesn’t give us our license before they leave and start paying the money before they leave, we believe that the next one, will understand the situation and give the licence back. So we are continuing with the hope and preparing and working our plans with the hope that, at some point, we will get the licence back and we’ll bring the jobs back. Because it is the jobs, that we are also looking for.”
“So we feel that collapsing a 300-branch financial entity is inimical to the economic interest of the country. So whether it even belongs to us or belongs to someone else, it is something that needs to be there,” he added.
Mr. Mahama criticized the government for revoking licenses of Indigenous financial institutions describing g it as hasty.
“I do think that government was hasty in what it did. If you look at the criteria that was used, I mean, it didn’t fit. It was, it was not a one-size-fits-all-all. I mean, it was just like different rules for different, folks and so, yes, as you said, a lot of these banks had also financed government suppliers and contractors and the government owed them and they owed the banks.
“But how would they recover that money if you don’t pay the contractors to pay them? And so I do think that it was hasty, and it’s affected indigenous capital in the financial and banking sector. And we have pledged that we would work to restore, you know, the capital of indigenous businesses in the financial sector.
“So we are advocating an independent review of the processes that went into the banking sector clean up and where we believe these were unjustifiable, look at the restoration of the licenses of these banks,” he stated.
By: Rainbowradioonlinemcom/Ghana
