Dr. Paa Kwesi Nduom finally reacts after his GN Bank was lowered to Savings & Loans

Dr. Paa Kwesi Nduom has finally reacted to news that went viral on his GN Bank shifed downloads on the banking ladder to a ‘mere’ Savings and Loans.

The business mogul in a reaction indicated things wouldn’t have gone bad if government paid at least 10% of the debt they own them.

The Bank of Ghana revoked the banking license of GN Bank after it finished what it describes as the banking resolution.

The new policy requires each commercial bank operating in the country to have a minimum capital of 400 Million Ghana Cedis which GN isn’t having.

Checkout his comment Below:

“For all those wondering what’s going on. First let me assure you that I operate on the principle that every problem has a solution. We are working to keep GN Bank doors open come 2019. The Gold Coast Fund Management problem needs a long term solution and we will put one there. Eventually it will work. It needs goodwill. All these problems were created deliberately by some people. The end game they wanted is total collapse of all Groupe Nduom entities. But we are down into the fabric of this country, Ghana. We are inextricably linked to everything Ghanaian. It is difficult now, yes. We are working hard to do better. Please keep the faith.

“We do not aspire to finance oil and gas and big money ventures. We like to work ordinary people and small towns. We are NOT a High Street bank. So we do not need GHS400million capital. If government paid us even 10% of what it owes us, we will have enough liquidity to serve our customers. We were a successful savings and loans company for 8 years. So universal, savings and loans or Microfinance or rural bank, we will be there in business for the long term. No one should take my silence or soft spoken approach to be a sign of weakness.”