Papa Kwesi Nduom says Ghana’s current political climate offers fresh hope for business recovery after the restoration of GN Bank’s licence.
He made the remarks after Thursday’s ruling by the Court of Appeal.
Dr. Nduom said the current environment in the country supports growth and recovery for businesses.
“What I want to say is that we are in a very good political environment,” he said.
He added that the changing atmosphere gives businesses confidence to invest and support national development.
“With the licence restored, we will now play our part to ensure that this country achieves the prosperity needed,” he stated.
The Court of Appeal unanimously restored the licence of GN Savings and Loans.
The ruling overturned an earlier High Court decision that supported the revocation of the company’s licence during Ghana’s banking sector cleanup.
The court said the decision by the Bank of Ghana to revoke the licence was unfair and unreasonable.
It also ordered the receiver to return control of the company’s assets and operations to its shareholders.
Dr. Nduom described the ruling as a major turning point after nearly seven years of legal and financial difficulties.
He said the company can now return to business and support Ghana’s economic growth.
The businessman also spoke about the effect of the banking sector cleanup on workers, families, and businesses linked to GN Bank.
“There are just too many difficulties. Some people have died, some have lost their jobs. Assets have been destroyed,” he said.
Dr. Nduom admitted that some losses may never be recovered.
However, he said the company remains determined to rebuild and move forward.
He assured customers, workers, and stakeholders that the group plans to return stronger than before.
“We will restore our business and we will make certain that our second coming is even bigger than the first,” he declared.
