Ghanaian businessman and President of Groupe Nduom, Papa Kwesi Nduom, has disclosed how his company lost a major investment opportunity following the revocation of GN Savings and Loans' licence.
Speaking at a press briefing on Friday, May 29, 2026, Dr Nduom revealed that before the licence revocation, he had secured a $20 million loan agreement from a private investment institution in the United States.
According to him, the revocation of GN Savings and Loans’ licence disrupted the deal, depriving the company of access to the funding.
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Dr Nduom explained that the facility was intended to support traders and small-scale businesses across the country, but the collapse of the institution made the disbursement impossible.
“Before the licence was revoked, we had reached an agreement with what was then known as the Overseas Private Investment Corporation (OPIC) of the United States.
“I had travelled there, and we signed the contract and agreement for a $20 million loan, which was only awaiting disbursement. The funds were meant to help traders and small business owners do whatever they needed to do. Unfortunately, that opportunity was lost,” he said.
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Dr Nduom further stated that his company remains committed to complying with the directives issued by the Court of Appeal regarding the matter.
“So, there are many things that need to be completed, and we are going to do them. What I have told you is that we have received our orders from the Court of Appeal, and we are going to comply with those orders. Those orders contain the word ‘immediate.’
“I have also told you that we have a purpose and a reason to return because what we were trying to achieve had become successful,” he added.
Watch the video below:
“We lost a $20 million loan due to the revocation of our license.”
— 𝐀𝐒𝐊 (@askghmedia) May 29, 2026
— Dr. Papa Kwesi Nduom, Founder and CEO of Groupe Nduom, reveals pic.twitter.com/RxTiru1U4H
JHM/BAI
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