The President of Groupe Nduom, Nana Kweku Nduom, has confirmed that GN Savings and Loans could resume operations before the end of 2026 following the restoration of its licence by the Court of Appeal.

GN Savings and Loans was among several financial institutions affected by Ghana’s 2019 banking sector clean-up exercise, which led to the revocation of licences and major restructuring within the banking and savings and loans industry.

His comments come after Groupe Nduom secured a major legal victory when the Court of Appeal overturned an earlier High Court ruling that had upheld the revocation of GN Savings and Loans’ licence during the financial sector clean-up exercise.

The appellate court described the decision to revoke the licence as “unfair and unreasonable” and ordered that the company’s assets, management, and operational control be returned to its shareholders.

Speaking in an interview on Channel One TV on Monday, May 25, 2026, Dr Nduom expressed optimism that the institution would resume operations 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 stated.

According to him, the reopening process will depend on the completion of regulatory approvals and other administrative procedures required to restore full operations across the company’s branches.

He noted that management is currently focused on ensuring a smooth transition following the court ruling.

The legal battle dates back to August 2019 when the Bank of Ghana, under the leadership of former Governor Ernest Addison, revoked the licence of GN Savings and Loans and appointed a receiver as part of measures aimed at sanitising the financial sector.

The company subsequently challenged the decision in court, arguing that the revocation was unlawful and unjustified.

Reacting to the ruling after court proceedings, Dr Nduom described the past seven years as extremely difficult for the company, its workers, and customers.

“This has been a very, very tough, very difficult time that we have gone through. It’s just unimaginable,” he said, while assuring customers and stakeholders that the company would work to rebuild the business stronger than before.

ANAS/MA

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