GN Savings Licence Revocation Cost $20M Investment Opportunity — Nduom

Dr. Papa Kwesi Nduom, President of Groupe Nduom, revealed that the revocation of GN Savings and Loans' operating licence led to the loss of a significant $20 million investment opportunity intended for Ghana's small business sector. Prior to the regulatory action, the company had secured a loan from a U.S.-based investment institution, which was set to enhance access to credit for traders and small-scale businesses. During a press conference on May 29, 2026, Dr. Nduom explained that the agreement with the Overseas Private Investment Corporation (OPIC) was finalized, with all necessary documentation completed, and only the fund disbursement was pending when the licence was revoked. He emphasized that this funding was crucial for supporting micro, small, and medium-sized enterprises (MSMEs) in Ghana, which are vital to the economy. The loss of this financing opportunity has deprived many businesses of affordable capital, exacerbating the existing challenges in accessing credit for entrepreneurs. Dr. Nduom highlighted that before the licence revocation, GN Savings and Loans had built a strong customer base across the country, underscoring the impact of the regulatory decision on the business landscape.