Patronise indigenous banks – Dr. Nduom
Dr. Paa Kwesi Nduom, President of Group Nduom (GN) Companies has advised Ghanaians to patronize the services of indigenous Ghanaian banks to increase and retain financial accruals which could promote the economic growth of the country.
He said that would also stem capital flight which could not only be invested further to expand the financial base of the economy but also serve as a means of wealth creation for individuals the people.
Dr. Nduom gave the advice at a mini durbar to officially open the Bechem branch of the GN-Bank on Wednesday at Bechem in the Tano South District of Brong-Ahafo Region.
The former flagbearer of the people’s Progressive Party (PPP) and business magnate referring to some developed countries like the United Kingdom (UK), the United States of America (USA) and Japan said these countries had resilient and buoyant economies because their citizens had loyally and seriously been patronizing their native banks.
The GN conglomerates is a Ghanaian/international group of business concerns including banking and hotel services, media organizations, real estate development, electronics manufacturing and financial investments within and outside Ghana.
He cited the JP Morgan Bank of the USA, the Barclays Bank of England and many others had contributed and continued to contribute towards the economic development of their respective countries because whatever profits accrued from investments with customers and other business partners remained in those countries.
Dr. Nduom announced that currently there were 245 branches of GN-Banks in the country and added that 55 of them were in the middle zone, the Ashanti and Brong-Ahafo Regions.
“The primary objective of expanding the GN Bank branches was to bring banking services to the doorsteps of the people, especially in the unreached and unserved communities and also to inculcate the culture of savings among the people whilst promoting small – scale business enterprises.
Nana Fosu Gyeabour Akoto 11, Paramount Chief of the Bechem Traditional Area, lauded Dr. Nduom for actually demonstrating that the private sector was really the engine of the economic growth of the country.
Nana Akoto said this was based on the fact that Group Nduom, with over 50 business concerns locally and internationally, had provided employment for thousands of Ghanaians and urged the residents in the area to patronize the services of the Bank.
Relatedly, another branch of the Bank was also officially opened at Duayaw-Nkwanta in the Tano North District.
Source: GNA