Support reinstatement of GN Savings licence, Nduom petitions Cheddar and Alan [Video]

The management of Groupe Nduom, led by its chairman, Dr Papa Kwesi Nduom has lined up a series of meetings with presidential aspirants asking them to support the reinstatement of the license of GN Savings.

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.

Other requirements of the BoG included changing of the name and downsizing and even went further to assign an advisor.

When the six-month period elapsed, the BoG in August 2019 revoked the licenc together with 22 other insolvent savings and loans companies and finance house companies.

But the management of Groupe Nduom has constantly argued that it met all the requirements and therefore it was a surprise the …