President of Groupe Nduom, Dr Nana Kweku Nduom, says GN Savings and Loans could resume operations before the end of 2026 following the restoration of its licence by the Court of Appeal.
Speaking in an interview on Accra-based Channel One TV, Dr Nduom explained that the reopening of the institution would depend on the completion of the necessary approvals and regulatory processes.
Despite the outstanding procedures, he expressed optimism that the company would return to full operation before the end of the year.
“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 said.
His comments follow the Court of Appeal’s decision to overturn an earlier High Court ruling that had upheld the revocation of GN Savings and Loans’ licence during Ghana’s banking sector clean-up exercise.
The appellate court also ordered that all assets of the company be returned to its original owners and directed that management be handed back to the former leadership, paving the way for a gradual reopening of branches.
GN Savings and Loans was among several financial institutions affected by the 2019 financial sector clean-up exercise, which led to the revocation of licences and major restructuring within Ghana’s banking and savings and loans sector.
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