Dr. Papa Kwesi Ndoum, Chairman of the Group Ndoum, has expressed strong confidence that the banking license of GN Bank, which was revoked in 2019, will be reinstated by the next political administration after the 2024 general elections.
The Bank of Ghana (BoG) in late 2018 reclassified GN Bank as GN Savings and gave it a six-month period to meet specific requirements.
This was after GN Bank was unable to meet the Bank of Ghana’s minimum capital of GH¢400 million by December 31, 2018.
When the six-month period elapsed, the BoG in August 2019 revoked GN bank’s licence together with 22 other insolvent savings and loans companies and finance houses.
After meeting with some presidential aspirants and announcing the end of a nationwide tour, Dr Ndoum said only two candidates have assured to revive his collapsed bank.
“I want to express my appreciation for the positions taken by two aspirants, Mr Alan Kyerematen and former president John Dramani Mahama, who have said publicly that should they win the impending election they will subscribe to our ‘bring back GN bank agenda’” he said.
On his confidence that the next government will restore the bank’s license. Dr Ndoum said “I believe the next administration will give us our license back.”
He said the posturing of some members within the NPP despite petitioning its flagbearer suggest they are reluctant in meeting with him.
“Now when you even ask for an appointment, you write letters and send messages, many of them do not want to meet. Some say quietly on the side that they do not want trouble. “
Read also:
https://editors.3news.com/news/col-festus-aboagye-beyond-symbolic-gestures-reimagining-ghanas-electoral-peace-pact-in-a-fractured-democracy/
