The Global Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has expressed deep relief and gratitude following the Court of Appeal’s unanimous decision to restore the operating licence of GN Savings and Loans Company Limited.

The ruling overturns a High Court decision which had earlier upheld the revocation of the company’s licence by regulators.

The Court of Appeal found that the initial decision to revoke the licence was unfair and unreasonable, effectively reinstating the financial institution’s right to operate.

Speaking to journalists after the judgment, Dr Nduom described the past seven years as “very, very difficult”, highlighting the emotional, financial and human toll the prolonged legal and regulatory battle had taken on the company and its stakeholders.

He extended appreciation to his family, loyal employees, and supporters who remained with the institution throughout the period of uncertainty, noting that their resilience had been central to the company’s survival.

“We have had some very, very loyal, hard-working employees who have stood with us all these years,” he said, adding that gratitude was owed to “Almighty God” for sustaining them through what he described as an “unimaginable” ordeal.

Dr Nduom also reflected on the broader impact of the crisis, stating that the period had been marked by significant losses, including job cuts, destroyed assets, and in some cases the loss of lives.

“Some people have died, assets have been destroyed, and some people have lost their jobs,” he noted. “Many things we will not get back.”

Despite these setbacks, he struck an optimistic tone about the future, expressing confidence that the restored licence marked a turning point for the institution and its contribution to national development.

He commended what he described as a more favourable political and economic environment, suggesting that recent developments had created a “wind of change” that could support renewed business growth and stability.

Dr Nduom stressed that Groupe Nduom remained committed to rebuilding GN Savings and Loans and restoring its operations.

“What we promise is that we will restore this company; we will restore our business,” he assured.

He further emphasised that the institution intends to play a meaningful role in Ghana’s economic development, particularly in contributing to national prosperity through financial services and enterprise support.

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Nduom praises Court of Appeal for restoring GN Savings and Loans licence

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