Accra: Businessman Dr Papa Kwesi Nduom has expressed his relief and gratitude following the Court of Appeal's decision to reinstate the licence of GN Savings and Loans Company Limited. This verdict concludes a protracted legal struggle that extended over several years.
According to Ghana Web, the Court of Appeal delivered a unanimous decision on Thursday, May 21, 2026, overturning a previous High Court ruling that had upheld the revocation of the company's licence during a comprehensive banking sector reform. The restoration of the licence marks a significant victory for Dr Nduom, who has been contesting the decision in court.
In a video shared by TV3, Dr Nduom reflected on the challenges faced over the past seven years, describing the period as extremely trying for himself, the employees, and the customers associated with the business. He expressed gratitude for the health and resilience that enabled them to withstand the ordeal.
Dr Nduom attributed the favorable court outcome to shifts in the political climate of the country, which he believes have ushered in a positive change. He emphasized that the restoration of the licence is a crucial step for GN Savings and Loans to resume operations and contribute to national development.
He acknowledged the severe impact that the licence revocation had on individuals connected to the company, noting that some experienced job losses and financial setbacks, with others facing even more dire consequences. Despite these challenges, Dr Nduom assured stakeholders of the company's commitment to rebuilding and emerging stronger.
With the reinstatement of the licence, Dr Nduom reiterated his promise to restore the business and enhance its operations during this second phase, aiming to support the country's journey towards prosperity.