The President of Groupe Nduom, Dr Nana Kweku Nduom, has expressed optimism that GN Savings and Loans could resume operations before the end of 2026, following a favourable ruling by the Court of Appeal.
Speaking in an interview on The Point of View on Channel One TV on Monday, May 25, Dr Nduom indicated that the institution’s reopening would depend on the completion of regulatory approvals and other required processes.
“I think it would be this year. I think maybe in the quarter. I think before the end of the year will be a very safe estimate. Before September will be somewhat ambitious,” he stated.
His remarks come after the Court of Appeal overturned an earlier High Court decision that upheld the revocation of GN Savings and Loans’ licence during Ghana’s financial sector clean-up exercise. The appellate court further directed that all assets of the company be returned to its original owners and that management control be restored to its former leadership.
The ruling has paved the way for Groupe Nduom to begin efforts toward restoring full operations of the savings and loans company, with expectations of a phased reopening of its branches once all conditions are met.
GN Savings and Loans was among several financial institutions affected during Ghana’s 2019 banking sector reforms, which led to widespread licence revocations and restructuring across the industry.
With the latest court decision and ongoing regulatory processes, the company is positioning itself for a return to the financial services market, raising hopes among customers and stakeholders for a revival of its operations.
