If you had paid the GHc30 million as the debt you claim to owe, I would’ve paid depositors their funds-Nduom fights back

The Chairperson of Groupe Nduom, Dr. Papa Kwesi Nduom has reacted to statement issued by government, which said payment of the GHc30 million debt owed him would not have addressed the GN Capital of GHC683.66 million.

The government has responded to a press conference organised by some aggrieved residents of Elmina last week on the revocation of the operating license of GN Savings and Loans.

According to the government, the claim made by the organisers of the press conference that the troubles of GN Savings and Loans had been caused because the government had failed to honour its financial obligations to GN Savings and Loans is completely misplaced.

A statement signed and issued by the Deputy Minister of Information, Nana Ama Dokua Asiamah-Adjei, it said: “Indeed, as at 6th August, 2019, Government’s indebtedness to GN amounted only to GH¢30.33 million. An agreement has, indeed, been reached between the Ministry of Finance and GN to settle this debt. However, even when completely settled, it will still not address GN’s capital deficit of GH¢683.66 million.”

It added:”The Akufo-Addo administration has nothing to gain from the closure of a company belonging to a Ghanaian. That is not how the President views his mandate. On the contrary, since assuming office in 2017, the pre-occupation of President Akufo-Addo has been to incentivize the Ghanaian private sector to be able to compete effectively in the region, the continent and the world, create jobs for the Ghanaian people, and put our nation onto the path of progress and prosperity.”

But the Chairman of Groupe Nduom in his response has said the debt if paid would have helped the company paid the withdrawal of deposit of GN Bank customers LAST YEAR and provided liquidity for mobile money customers.

He added: ‘’ Just 5 million of the money would have been given to contractors with completed projects to ensure certification which would have yielded at least 200 million more funds within six months. This 200 million would have paid the investments of about 25,000 accounts.
Five (5) million would have paid the capital outstanding for 5,000 small Gold Coast Account holders.’’

Read Below his full post:

THE MYSTERIOUS 30 MILLION GHANA CEDI GOVERNMENT INFRASTRUCTURE RECEIVABLE – MY FINAL TAKE ON THIS.

What can 30 million do? Read on.

For the avoidance of doubt:

1. This 30 million amount has been known to authorities for over 2 and a half years. It did not just show up a month ago.
2. If this had been paid, 20 million of this could have paid the withdrawal of deposit of GN Bank customers LAST YEAR and provided liquidity for mobile money customers.
3. Just 5 million of the money would have been given to contractors with completed projects to ensure certification which would have yielded at least 200 million more funds within six months. This 200 million would have paid the investments of about 25,000 accounts.
4. Five (5) million would have paid the capital outstanding for 5,000 small Gold Coast Account holders.

MY POINT IS THIS. LETS FOCUS ON THE CUSTOMERS AND DISBURSE EVERY PESEWA VALIDATED SO THAT THE NEEDS OF MORE THAN 50,000 PEOPLE CAN BE MET.

Please note that the amount involved is a lot more than 30 million!

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