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    HomeEditor's PicksRestore GN Savings and Loans license – Former staff urges govt

    Restore GN Savings and Loans license – Former staff urges govt

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    A group calling itself concerned former employees of defunct GN Savings and Loans Limited is appealing to the Akufo-Addo government to restore the bank’s license to complement efforts in creating sustainable jobs.

    GN Bank which was under the Groupe Nduom brand lost its operational license after it was reclassified as a Savings and Loans firm in 2019.

    Speaking at a press conference in Accra to commemorate 4 years of the bank’s license revocation, the former Eastern Regional Manager of the defunct Bank, Kofi Fosu, lamented that the decision of the Bank of Ghana has negatively impacted the livelihoods of over 3000 households.

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    “Passionately, we are appealing to the President of the Republic to intervene by using his executive powers to urge the Governor of the Bank of Ghana, to restore the operational license of GN Savings and Loans. Such action will restore the lost opportunities to the employees, customers, shareholders and the business community.”

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    “Restoration of GN Savings and Loans will also help to restore the lost confidence in indigenous Ghanaian entrepreneurs and galvanise the private sector as an engine of economic growth,” the former Eastern Regional Manager of GN Bank appealed.

    Kofi Ofosu further called on the Receiver to protect the remaining assets of GN Savings and Loans.

    “We also call on the Receiver to take appropriate measures to protect the remaining assets of GN Savings and Loans from further destruction”.

    The Supreme Court on July 20 gave businessman and politician, Paa Kwesi Ndoum the green light to challenge the revocation of the license of GN Bank at the High Court.

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