Groupe Nduom Determined to Resume Operations After Court of Appeal Ruling – Dr Papa Kwesi Nduom
Businessman and President of Groupe Nduom, Dr Papa Kwesi Nduom, has reaffirmed the group’s commitment to resume operations of GN Savings and Loans following the Court of Appeal’s decision restoring the company’s operating licence.
Dr Nduom emphasised that the group remains law-abiding and will proceed with preparations to restart business activities unless a higher court issues an order reversing the current ruling.
His comments come after reports that the Bank of Ghana has filed an appeal against the Court of Appeal’s judgment, which overturned the revocation of the licence during the financial sector clean-up.
“Let me be very clear… The orders that we have as I stand here are orders from the Court of Appeal, nowhere else,” he stated.
Dr Nduom noted that, to the best of his knowledge, the Bank of Ghana had not yet been formally served with the consequential orders from the judgment. He added that he had also not received any official notification of an appeal.
He stressed that the group would not act on media reports or unofficial information but would rely strictly on formal legal processes.
“But when we get anything at all from anybody, we are ready with our attorneys to deal with anything with dispatch,” he said.
Dr Nduom made it clear that the group would not suspend its recovery plans unless directed otherwise by a superior court.
“Even if something is served on us, until someone gives us an order different and also superior to what the Court of Appeal had given, we are not moving. We are not waiting for anybody,” he declared.
He disclosed that practical steps are already underway to restore operational capacity, including infrastructural rehabilitation, organisational restructuring, and personnel arrangements.
“So I hope you understand that we are working. We are on the road. We are working, restoring, repairing, putting our things together, looking for people, and so on,” he added.
The development has renewed discussions on the long-term impact of the financial sector clean-up and the fate of affected indigenous financial institutions.
Editor:
Obiri-Yeboah
