Papa Kwesi Nduom, the founder and president of Group Nduom, recently revealed that his repeated appeals to the Nana Addo-led government to restore his collapsed businesses have been declined. The closure of his renowned GN Bank in 2018, following a license revocation by the Bank of Ghana (BoG), was part of a broader financial institutions reform. Additionally, his Gold Coast Fund Management company was affected, leading to the loss of approximately 6,000 jobs.
Nduom explained that GN Bank had held the operational funds for all his companies, including payroll. With the bank’s closure and funds held by the BoG, his businesses faced shutdowns, resulting in significant job losses across Ghana.
In a recent Facebook broadcast titled “Disappointed but Not Discouraged,” Nduom shared that he has reached out to government officials, traditional leaders, and clergy members since 2018, urging the restoration of GN Bank to help revive jobs and restore his businesses. However, he claims the government has ignored his petitions.
“I’ve spoken to chiefs, bishops, and even people within the administration,” Nduom said. “I’ve written to the Akufo-Addo administration to find a solution that prioritizes customers’ funds. Sadly, my efforts have been futile.”
Nduom’s appeals aim to regain operational licenses and revive jobs, with a focus on securing customer investments. As the current administration nears its term end, he hopes for a favorable response from President Akufo-Addo.
Nduom has also launched a weekly Facebook broadcast to discuss economic issues, the state of his businesses, and to offer suggestions on enhancing Ghana’s economy.
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