Dr. Papa Kwesi Nduom, businessman and managing director of Groupe Nduom, outlined GN Financial savings’ formidable growth and re-entry technique centered on digital transformation, strategic banking partnerships and increasing monetary providers to underserved communities throughout Ghana.
Chatting with reporters on the Coconut Grove Regency Lodge in Accra on Friday, Could 29, Dr. Nduom stated the establishment is proactively poised to strengthen its remittance capabilities via partnership with common banks, which he stated is important to strengthening remittance providers and increasing buyer entry.
He defined that as a financial savings and mortgage firm, GN Financial savings will not be allowed to conduct remittance transactions instantly, so cooperation with licensed common banks might be a key aspect of its future working mannequin.
He stated the request for proposals goals to establish robust banking companions that may help examine funds, cross-border remittances and growth of digital monetary providers, thereby enabling GN Financial savings to supply a extra complete suite of merchandise to its prospects.
“As companions, we wish to select who provides us one of the best provide to clear checks, do extra with us, and ship cash,” he added.
Dr. Nduom famous that this course of was already underway and inspired monetary establishments to actively interact, suggesting that Groupe Nduom stays open to constructive industrial partnerships that can improve its service providing.
He stated the deliberate turnaround will heart on a complete operational assessment, together with the implementation of expertise, workers recruitment and coaching, department renovations and the rollout of an enhanced digital banking platform.
He emphasised that Nduom Group is working to rebuild with fashionable methods consistent with world monetary traits, whereas sustaining its long-standing give attention to accessibility and inclusion.
“Know-how choices, hiring and coaching workers, selecting a common financial institution to associate with, renovating and making ready branches, and migrating digital options – these are what we try to do,” he stated. “We began them.”
Dr Nduom sounded assured in regards to the group’s future trajectory, insisting that it was shifting ahead with readability of objective and authorized backing following current courtroom motion that restored the group’s operational standing.
Whereas acknowledging that the establishment’s expertise throughout the previous seven years beneath his administration had been tough, he confused that Nduom Group is approaching the following stage in a spirit of cooperation moderately than confrontation.
He added that he remained open to dialogue geared toward resolving excellent points in a manner that may enable the company to renew full operations easily.
“We’re prepared to take a seat down and negotiate no matter it takes to make us wholesome so we are able to proceed to function,” he stated.
Past authorized and operational restructuring, Dr. Nduom framed the deliberate return of GN Financial savings as a mission-driven effort to revive monetary providers to communities which have been underserved because the establishment’s shutdown.
He highlighted the stark disparity between city facilities, the place a number of banks compete fiercely for purchasers, and rural and peri-urban areas, the place monetary providers are sometimes missing or non-existent.
“In Accra, some persons are competing with six or 10 banks for enterprise,” he noticed. “However in lots of locations, there is not one.”
Dr Nduom stated GN Financial savings had beforehand crammed the hole by offering accessible banking providers to areas lengthy excluded from the formal monetary system, and its return would as soon as once more assist bridge the hole.
He expressed confidence that restoring these providers will meaningfully contribute to Ghana’s broader monetary inclusion agenda, particularly for small merchants, farmers and micro-enterprises who depend upon an accessible banking system to maintain their livelihoods.
For Dr. Nduom, the resurgence of GN Financial savings represents not solely company restructuring efforts but additionally broader improvement efforts geared toward strengthening financial participation on the grassroots stage.
“The financial system is dependent upon these small companies,” he says. “And monetary inclusion has to work throughout the nation, not simply in cities.”
