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Business News of Sunday, 19 June 2016


GN Bank arrives in Liberia

Groupe Nduom has officially commissioned GN Bank in Liberia. GN Bank Liberia Limited is one of the over 50 subsidiaries that constitute the Groupe Nduom conglomerate.

The commissioning of GN Bank, Liberia, was performed by the Vice President of Liberia, Joseph Nyumah Boakai with support from the President and Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, with some top management personnel of the Groupe Nduom in attendance.

Dr Nduom disclosed that the establishment of GN Bank, Liberia was part of the Groupe’s commitment towards the improvement of the African community.

That conviction is premised on Dr. Nduom’s belief that as Africans, “we have the responsibility to share in the task of nation building, building of strong institutions and the sharing of prosperity across the continent.”

“We are here as patient investors; so we are here for a long term”, Dr Nduom declared, adding “you will find that soon we will be putting up our own buildings as a demonstration that we are here to stay”.

Dr. Nduom expressed sincere thanks to the Central Bank of Liberia (CBL) for its unwavering commitment during the processing of the application for a banking license.

Dr. Nduom indicated that although the bank has come to add up to the Liberian banking system, it will offer strong but healthy competition to other banks in order to help grow the banking industry and also be a good partner to all industries in Liberia.

He asserted that GN Bank Liberia will assess dispassionately every situation within the Liberian banking sector, share in the problems and difficulties where necessary; and be a partner in overcoming these challenges.

“What we have done in Ghana, we will do right here in Liberia as well. We set ourselves the task to be the bank with largest retail footprint in the banking industry in Ghana and this year marks 10 years since we started banking in Ghana; and today as I speak to you, we have achieved that objective and working to gain value from that investment starting in 2017,” Dr Nduom announced.

He further stated that “so everywhere you go in Ghana you will find a GN Bank and we put up our own signature buildings”.

The Managing Director of Ghana Growth Fund Company (GGFC) another subsidiary of Groupe Nduom, Kwame Ofori Asomaning asked management of the bank to be guided by the problems experienced by other banks and use them as useful lessons in the operations of GN Bank, Liberia.

Mr. Asomaning noted that at Groupe Nduom “we do not see impossibilities; we do not turn our backs on the challenges. We go after what is good risk and transform those challenges into opportunities”.