Chairman of Groupe Nduom, Papa Kwesi Nduom has said Ghana is currently enjoying a favourable political environment capable of supporting business recovery and national prosperity following the restoration of the licence of GN Savings and Loans.
Speaking after an order by Court of Appeal for the restoration of the license of GN Savings and Loans on Thursday, Dr. Nduom said the prevailing atmosphere in the country has inspired renewed hope and a “wave of change” that could help businesses bounce back and contribute meaningfully to economic growth.
“We are in a very good political environment. That environment has brought about a wave of change, and we are expecting, with the licence restored, that we will now play our part to ensure that this country achieves the prosperity needed,” he stated.
The comments follow a unanimous decision by the Court of Appeal to restore the operating licence of GN Savings and Loans after overturning a High Court ruling that upheld the revocation of the company’s licence during Ghana’s banking sector cleanup exercise.
The Court of Appeal on May 21, 2026 unanimously quashed the High Court’s decision which upheld the revocation of the licence of GN Savings and Loans Company Limited.
The three-member panel justices held that of the the decision to revoke the license was unfair and unreasonable.
The court also directed the receiver to hand over possession, management and control of the assets and other activities of the bank to shareholders of the company.
“Any third party party interest created shall be determined on good faith of third parties and case by case basis,” the Court of Appeal added.
The decision of the court effectively leads to the restoration of the license of GN Savings and Loans Company Limited.
