Former Employees of GN Savings and Loans Urge Gov’t to restore license

A group calling itself the concerned employees of the defunct GN Savings and Loans Limited has appealed to the government to restore the company’s license.

The group asserts that reinstating the license would contribute to job creation efforts and help sustain livelihoods.

They made this passionate appeal at a presser in Accra to mark four years since the loan company’s license revocation.

The former Eastern Regional Manager of the defunct bank, Kofi Fosu, who spoke on behalf of the group, expressed concern over the negative impact the decision of the Bank of Ghana has had on more than 3000 households.

“We passionately appeal to the President of the Republic to intervene by using his executive powers to urge the Governor of the Bank of Ghana to restore the operational license of GN Savings and Loan Limited,” stated Fosu.

He emphasized that such action would not only benefit employees, customers, shareholders, and the business community but also restore confidence in indigenous Ghanaian entrepreneurs and revive the private sector as an engine of economic growth.

Mr. Fosu further urged the Receiver to take necessary measures to safeguard the remaining assets of GN Savings and Loans, which has been grappling with the aftermath of its license revocation.

GN Savings and Loan Limited, previously operating under the Groupe Nduom brand, was part of a group of financial institutions whose licenses were revoked in 2019 as part of the banking sector clean-up exercise.