Papa Kwesi Nduom, the founder and president of Group Nduom, has revealed that he has made numerous attempts to persuade the government, led by President Nana Addo Dankwa Akufo-Addo, to restore his defunct businesses, including GN Bank and Gold Coast Fund Management.
GN Bank, which was once a major player in Ghana’s banking sector, was shut down in 2018 when the Bank of Ghana revoked its license as part of a broader financial sector cleanup. This decision led to the loss of about 6,000 direct jobs. Nduom explained that his companies relied on GN Bank to manage funds, pay salaries, and operate, and its closure resulted in not only a financial setback but also the collapse of several businesses under his group.
Since the bank’s closure, Nduom has tirelessly appealed to both government officials and influential figures like chiefs and religious leaders, seeking a solution to restore GN Bank. He emphasized that his primary goal was to ensure the safety of customers’ funds, secure investment returns, and revive the jobs that were lost in the process.
In a candid Facebook conversation titled “Disappointed but Not Discouraged,” Nduom shared his frustration with the lack of response from the Akufo-Addo administration. He said, “I have been speaking to people—chiefs, bishops, all manner of individuals, even people in this administration. I have been asking them to help, writing petitions, but unfortunately, all my efforts have been in vain.”
Despite his efforts, including formal petitions, Nduom has yet to receive the support he hoped for. He expressed hope that the president would address the issue before the end of his term, given that Ghana will soon transition to a new administration.
In addition to his appeals for business restoration, Nduom has begun a weekly Facebook broadcast where he engages the public on matters related to the country’s economy and the current state of his businesses. He uses this platform to share his views on potential solutions for improving Ghana’s economic landscape.
Papa Kwesi Nduom’s ongoing efforts reflect his determination to secure the future of his businesses and the livelihoods of those impacted by their collapse.
