Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, says Ghana is currently experiencing a positive political environment that can support business recovery and national prosperity following the Court of Appeal’s decision to restore the operating licence of GN Bank.

Speaking after Thursday’s court ruling, Dr. Nduom said the current atmosphere in the country has created renewed hope and a “wave of change” capable of helping businesses recover and contribute meaningfully to national development.

"What I want to say is that we are in a very good political environment. That environment has brought about a wave of change, and we are expecting, with the licence restored, that we will now play our part to ensure that this country achieves the prosperity needed," he stated.

His comment comes after Court of Appeal unanimously restored the licence of GN Savings and Loans after quashing a High Court decision that upheld its revocation during the banking sector cleanup.

The appellate court ruled that the decision by the Bank of Ghana to revoke the company’s licence was unfair and unreasonable.

The court also ordered the receiver to return control and management of the company’s assets and operations to its shareholders.

Dr Nduom described the decision as a turning point after nearly seven years of legal and financial struggles following the revocation of the bank’s licence during the banking sector cleanup exercise.v

Dr. Nduom said the restoration of GN Bank’s licence would enable the company to return to business and support Ghana’s economic growth.

The businessman also reflected on the impact of the banking sector cleanup on workers, families and businesses linked to GN Bank, describing the period as painful and difficult.

“There are just too many difficulties. Some people have died, some have lost their jobs. Assets have been destroyed,” he lamented.

He noted that although some losses may never be recovered, the company remains determined to rebuild.

Dr. Nduom further assured customers, employees and stakeholders that the group intends to return stronger than before. “We will restore our business and we will make certain that our second coming is even bigger than the first,” he declared.

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We are in a very good political environment — Dr Nduom after GN Bank licence restoration

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