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Dr. Paa Kwesi Nduom Launches Initiative To Revive Defunct GN Bank
May 28, 2024
Amidst broken doors, shattered windows, and overgrown compounds, Dr. Paa Kwesi Nduom, the Global Chairman of Groupe Nduom, embarked on a nationwide campaign to revive the defunct GN Bank. This initiative, dubbed "BringBackGNBank," aims to visit all 300 former GN Bank branches across Ghana, assess the condition of the facilities, engage with customers, and share plans for resuscitating the institution.
The first phase of the campaign began last Sunday with visits to numerous branches in the Central Region. Dr. Nduom was accompanied by management and staff members of Groupe Nduom as they inspected old offices in Kasoa Amanfrom, Awutu Breku, Gomoa Potsin, Afranse, Biriwa, Makessim, Cape Coast, and Takoradi. The tour revealed a mix of conditions: while some offices were relatively intact, others, such as those in Kasoa Amanfrom and Awutu Breku, had been repurposed by local churches.
Dr. Nduom expressed deep concern over the state of disrepair at many of the former GN Bank locations. Since the bank's collapse, many customers have been excluded from the formal financial system. This exclusion is particularly pronounced in remote areas where GN Bank previously operated, providing essential financial services that have since been lost.
"We were the only bank to recognize the potential in these deprived areas. Since our licence was revoked, no other bank has stepped in to fill the gap," Dr. Nduom lamented. He highlighted the challenges faced by these communities, including limited savings options and restricted economic growth opportunities, which GN Bank was addressing before its closure.
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