Papa Kwesi Nduom says the last seven years have been very difficult since the Bank of Ghana revoked GN Savings and Loans’ licence.
His comments came after the Court of Appeal ordered the restoration of the company’s licence and overturned an earlier High Court ruling.
The court also directed that the company’s assets be returned and management handed back to the former team.
The Bank of Ghana and GN Savings and Loans have been embroiled in a court battle since 2018, when the banking industry was being cleaned up.
On January 4, 2019, GN Savings and Loans changed its name to GN Savings and Loans Business Limited after being classified as a savings and loans business.
Dr Nduom called the time after the revocation “very, very difficult” in an interview with reporters on Thursday, May 21, following the decision.
“It’s been a difficult, very, very difficult seven years. We want to thank the family. We want to thank all of our employees. We’ve had some very loyal, hardworking employees who have stood with us all these years,” he stated.
He also thanked God for giving them the strength to endure what he described as an unimaginable experience.
“This has been a very, very tough, very difficult time that we have gone through. It’s just unimaginable,” he added.
Dr Nduom further linked the court victory to what he described as a positive political atmosphere and a “wind of change” following the change in government.
According to him, the restoration of the licence would allow the company to contribute once again to Ghana’s economic growth and prosperity.
“We are in a very good political environment, and that environment has brought about a wind of change. We are expecting that with the licence restored, we will now play our part in making sure that this country achieves the level of prosperity that is needed,” he said.