Paa Kwesi Nduom plans nationwide campaign to revive GN Bank

Dr. Paa Kwesi Nduom, Global Chairman of Groupe Nduom, has hinted at an upcoming nationwide tour aimed at advocating for the revival of the collapsed GN Bank, MyJoyOnline reports.

The Bank of Ghana (BoG) revoked the licenses of 23 savings and loans companies and finance house companies in 2019, including GN Bank. Despite legal challenges, an Accra High

Read full articleCourt upheld the Central Bank's decision in January 2024.

Dr. Nduom has filed an appeal against the ruling. However, recent Facebook posts suggest that plans for GN Bank's resurgence are underway.

Images and videos shared by Dr. Nduom depict the deteriorating state of the bank's assets across its 300 branches nationwide.

In a Facebook post on May 1, 2024, Dr. Nduom questioned the need for a nationwide tour, emphasizing the impact of panic withdrawals and state-induced liquidity crises on indigenous Ghanaian banks.

Another post announced the forthcoming "#BringBackGNBank" tour, where the bank's story will be directly shared with the public to gauge support for its revival.

Dr. Nduom also called for community involvement in cleaning and revitalizing GN Bank's branches, citing locations such as Wulensi, Wa, Widana, Daman, Kwame Danso, Kyekyewere, Gwollu, and Tsito.

Highlighting challenges faced in asset management, Dr. Nduom lamented delays in court proceedings and emphasized the need for action to reclaim debts owed to contractors.

The nationwide campaign reflects Dr. Nduom's determination to engage with communities and advocate for the revival of GN Bank amidst ongoing legal battles.