GN Bank to be listed on the Ghana Stock Exchange – Dr Ndoum

Paa Kwesi Nduom
Paa Kwesi Nduom

The GN Bank, a subsidiary of the Group Nduom (GN) conglomerate, would soon be listed on the Ghana Stock Exchange (GSE) in 2017, Dr. Paa Kwesi Ndoum has announced.

Dr. Nduom, a business magnate who is the President of the GN Companies made the announcement when he cut the tape to officially open a branch of the Bank at Odumase in the Sunyani West District of Brong-Ahafo Region.

He said the Bank was a wholly Ghanaian-owed financial institution and would be listed on the GSE to float shares for the general public to be part of its ownership.

Dr. Nduom, former flagbearer of Progressive Peopls’ Party (PPP) said Management of the Bank had planned to increase its branches from the current 245 to 300 nationwide by the end of 2016, with the aim of bringing banking services to the doorsteps of the people in the rural, deprived and hard-to-reach communities.

He said the GN had about 60 business holdings locally and internationally which included investments in the financial, hotel and tourism, electronic manufacturing, the media, packaging and the education industries.

Dr. Nduom stressed the need for hard work, and said irrespective of the individuals’ social and political background working with assiduity was a necessary prerequisite to create wealth for the socio-economic well-being of the people and the general progress of the country.

The District Chief Executive (DCE) for Sunyani West, Ms. Agnes Kusi said the District was predominantly a farming area with most of the farmers engaged in the cultivation of maize whilst a large proportion of other residents were also engaged in the maize supply chain business.

She said since the Odumase maize market was closed to the location of the Bank, the traders could take advantage of the Bank’s customer-friendly products and services to expand their businesses.

Ms. Kusi assured that the District Assembly would offer the needed support for the successful operations and survival of the Bank in the area.

Mr. Fred Manu, the Bank’s General Manager for the northern sector,  earlier said one of the major objectives of the Bank was to inculcate the culture of savings in Ghanaians.

He said because of that the Bank offered nine per cent instead of five per cent interest rate annually on savings accounts of customers.

Source: GNA

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