Elated traders at the Kotokuraba Central Business District have welcomed the Court of Appeal’s decision to restore GN Bank’s licence, seven years after it was revoked by the Bank of Ghana.

Despite heavy rains and slow sales when news of the court’s decision reached them on Thursday morning, the visibly relieved traders said the move would help stabilise the operations of small and medium-sized enterprises and restore confidence in local lending services.

They said the restoration of the licence would reopen essential banking services, revive credit lines previously relied upon by small businesses and ease cash-flow constraints that had hampered trade during the bank’s regulatory difficulties.

The traders urged GN Bank and regulators to ensure a smooth and transparent resumption of services so customers could promptly regain access to deposits, loans and payment services.

Madam Efua Agyapong, a second-generation textile trader at Kotokuraba, said GN Bank’s quick microloans had kept her business afloat during slow trading periods.

She said whenever she needed money to bring in new fabrics from Accra, GN Bank provided her with a short-term loan on the same day she applied for it.

Madam Fatimatu Iddrisu, a sanitary items seller, praised the bank’s understanding of local commerce and its faster turnaround time on small loans compared with larger banks.

She added that GN Bank’s branches across the region, particularly in Cape Coast and Elmina, had provided convenient deposit, withdrawal and payment services, reducing the need for traders to travel long distances to access banking services.

Daniel Mensah, who operates a provisions and rice shop, recalled that he had relied on GN Bank’s overdraft facilities to purchase rice in bulk and expand his business.

He said traders lost business opportunities when the bank ceased operations and expressed hope that the restoration of the licence would enable him to restock and serve more customers.

Akosua Darko, a frozen fish seller, highlighted the convenience of GN Bank’s mobile and branch services, which enabled her to collect daily susu contributions and pay suppliers without enduring long queues.

She added that before the bank’s closure, it had helped her save money and send funds to her family in northern Ghana.

Many traders described GN Bank as a dependable source of short-term loans and overdraft facilities that helped them purchase stock and meet seasonal demand.

The traders said they viewed the court’s decision as evidence that regulatory and legal processes could correct disruptive outcomes, restore customer confidence and help normal trading activities resume.