Naagyei 90.3 Fm Agyapa
Papa Kwesi Nduom, the founder and president of Group Nduom, has disclosed that he has repeatedly pleaded with the Nana Addo-led administration to revive his shuttered companies.
Following the Bank of Ghana’s (BoG) 2018 licence revocation as part of the government’s financial institutions reform drive, his well-known GN Bank failed. Gold Coast Fund Management was another of Papa Kwesi Nduom’s businesses that was impacted by the reform. He claims that the demise of GN Bank resulted in the loss of almost 6,000 direct employment that he had established in the nation.
He clarified that the now-defunct bank stored the funds for all of his businesses and was also used to pay staff. But the bank’s demise, which resulted in the BoG locking up cash, caused his businesses to fail and, consequently, his jobs to be lost.
In a Facebook post titled “Disappointed but Not Discouraged,” Mr. Nduom stated that he has been making every effort since 2018 to persuade the current administration, along with traditional leaders and the clergy, to assist in restoring GN Bank. This would help revive his businesses that had collapsed and restore jobs. He asserted, however, that his requests have gone unanswered by the Nana Addo-led administration.
“I have been talking to people,” Mr. Nduom stated, “chiefs, bishops, and all kinds of people, including people in this administration.” With the primary goal of ensuring the safety and security of clients’ monies, I have been pleading with them for assistance and submitting petitions to the Akufo-Addo administration. But regrettably, all of my hard work has been in naught.
The restoration of the bank was also necessary, Mr. Nduom noted, in order to “get our licences back and get the business going so that the jobs will be restored, and more importantly, to secure the investment funds of our customers.” But he claimed that his attempts had failed, so he was now taking his predicament to the public.
He went on to say that he is telling his experience because the government led by Nana Addo is about to leave office and he hopes the president will hear him out before passing the reins to a new administration.
Papa Kwesi Nduom started a weekly Facebook livestream in which he interacts with the public on a range of subjects, such as the status of his enterprises and the nation’s economy. Additionally, he makes recommendations for how to boost Ghana’s economy using the platform.
