Accra: Businessman Dr Papa Kwesi Nduom has reacted to the Court of Appeal's decision to restore the licence of GN Savings and Loans Company Limited after years of legal battle. The Court of Appeal, in a unanimous decision on Thursday, May 21, 2026, quashed the earlier High Court ruling which had upheld the revocation of the company's licence during the banking sector clean-up exercise.
According to Ghana Web, Dr Nduom, speaking after the judgment in a video shared by TV3, described the past seven years as painful and difficult for him, as well as for workers and customers connected to the business. He expressed gratitude for their health and resilience during this challenging period, stating, "Well, it's been a very difficult seven years. We give thanks to Almighty for keeping us healthy enough to be where we are because this has been a very tough, very difficult time that we have gone through. It's just unimaginable."
Dr Nduom linked the court victory to what he described as a changing political environment in the country. He remarked, "What I want to say also is that we are in a very good political environment. That environment has brought about a wind of change." He emphasized that the restoration of the licence presents an opportunity for the company to return to business and contribute to the country's development. "We are expecting that, with the licence restored, we will now play our part in making sure that this country achieves a level of prosperity that is needed," he noted.
He further spoke about the impact the revocation had on individuals connected to the company, mentioning the loss of livelihoods and financial setbacks suffered by many. "Some people have died. Some have lost their jobs. Assets have been destroyed. Many things will not get back," he said. Despite these setbacks, Dr Nduom assured customers and supporters that the company would rebuild and return stronger.
In conclusion, Dr Nduom promised a renewed effort to restore the company and improve upon its previous operations. "What we promise is that we will restore this company. We will restore our business and we will make certain that our second coming is even better than the first one," he added. He reiterated the company's commitment to contributing to the nation's prosperity with the restored licence.