Businessman and President of Groupe Nduom, Dr Papa Kwesi Nduom, has outlined an ambitious expansion and re-entry strategy for GN Savings, centred on digital transformation, strategic banking partnerships and a renewed push to extend financial services to underserved communities across Ghana.

Speaking to journalists at Coconut Grove Regency Hotel in Accra on Friday, May 29, Dr Nduom said the institution is actively positioning itself to enhance its money transfer capabilities through partnerships with universal banks, a move he described as essential for strengthening remittance services and widening customer access.

He explained that as a savings and loans company, GN Savings is not permitted to undertake remittance transactions directly, making collaboration with licensed universal banks a critical component of its operational model going forward.

According to him, the request for proposals is intended to identify a strong banking partner capable of supporting cheque clearing, cross-border transfers and expanded digital financial services, thereby enabling GN Savings to deliver a more comprehensive suite of products to customers.

“We want to choose which one gives us the best offer to be our partner, to clear our cheques, to do more with us, to do remittances,” he added.

Dr Nduom noted that the process is already underway and urged interested financial institutions to engage proactively, suggesting that Groupe Nduom remains open to constructive commercial partnerships that will strengthen its service delivery.

A central feature of the planned revival, he said, is a comprehensive operational overhaul that includes technology deployment, recruitment and training of staff, branch refurbishment and the rollout of enhanced digital banking platforms.

He stressed that Groupe Nduom is committed to rebuilding with modern systems that align with global financial trends while maintaining its longstanding focus on accessibility and inclusion.

“The technology decisions, recruiting and training our people, selecting the universal bank to be our partner, renovating and preparing branch offices, and the digital solutions to move with — these are the things we are going to do,” he stated. “We have started doing them.”

Dr Nduom struck a confident tone about the group’s future trajectory, insisting that it is moving forward with clarity of purpose and legal backing following recent court developments that restored the institution’s operating position.

While acknowledging that the institution’s experience under receivership over the past seven years has been challenging, he emphasised that Groupe Nduom is approaching the next phase with a spirit of cooperation rather than confrontation.

He added that the company remains open to dialogue aimed at resolving outstanding issues in a manner that allows the institution to resume full operations smoothly.

“We are willing to sit down and negotiate whatever it is that needs to be done to make us whole so we can carry on with our business,” he said.

Beyond the legal and operational restructuring, Dr Nduom framed the planned return of GN Savings as a mission-driven effort to restore financial services to communities that have been left underserved since the institution’s suspension.

He highlighted the stark disparity between urban centres, where multiple banks compete aggressively for customers, and rural or peri-urban areas where financial services are often scarce or entirely absent.

“In Accra, some people have six banks or ten banks competing for their business,” he observed. “But out there, in many places, there isn’t even one.”

Dr Nduom said GN Savings previously filled that gap by providing accessible banking services in regions that had long been excluded from formal financial systems, and that its return would once again help bridge that divide.

He expressed confidence that restoring these services would contribute meaningfully to Ghana’s broader financial inclusion agenda, particularly for small traders, farmers and micro-enterprises who depend on accessible banking systems to sustain their livelihoods.

For Dr Nduom, the revival of GN Savings represents not only a corporate restructuring exercise but also a broader developmental commitment aimed at strengthening economic participation at the grassroots level.

“Out there, the economy depends on those small businesses,” he said. “And financial inclusion must work for the whole country, not just the cities.”

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Nduom outlines plan for GN Savings return to financial market with new partnerships

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