GN Savings and Loans could resume operations before the end of 2026 following the restoration of its licence by the Court of Appeal. President of Groupe Nduom Ghana, Dr. Nana Kweku Nduom, says GN Savings and Loans is currently working through regulatory approvals and operational processes ahead of reopening.
Speaking in an interview on Channel One TV’s The Point of View on Monday, May 25, Dr. Nduom expressed confidence that GN Savings and Loans would return before the close of the year. According to him, reopening before September may be ambitious, but resuming operations before the end of 2026 remains a realistic target.
The development follows a Court of Appeal ruling overturning an earlier High Court decision that upheld the revocation of the GN Savings and Loans license during Ghana’s banking sector clean-up exercise. The appellate court further directed that all assets belonging to GN Savings and Loans be returned to the original owners.
The court also ordered that management of GN Savings and Loans be handed back to the former leadership, paving the way for a phased reopening of branches across the country. The ruling is expected to restore confidence among customers and stakeholders affected by the closure.
GN Savings and Loans was among several financial institutions affected during the 2019 financial sector clean-up exercise, which resulted in widespread licence revocations and restructuring within Ghana’s banking and savings and loans industry.
Dr. Nduom says the company remains focused on meeting all regulatory requirements to ensure that GN Savings and Loans returns to full operation smoothly.
