Elmina city protests and demands reinstatement of the GN Bank
On Monday, December 2nd, 2024, the town of Elmina in Ghana’s Central Region witnessed a powerful display of public sentiment as hundreds of protestors, led by prominent businessman Dr. Paa Kwesi Nduom, took to the streets. This demonstration formed part of the ongoing “Bring Back GN Bank” campaign, a nationwide movement demanding the reinstatement of the collapsed GN Bank.
The demonstration, a vibrant cross-section of Elmina’s citizenry, underscored widespread frustration and anger over the bank’s closure in 2019. Protestors voiced their concerns about the severe economic consequences, highlighting the bank’s pivotal role in supporting local businesses and providing employment opportunities. Many expressed a profound sense of betrayal, criticizing both the government and local traditional authorities for their perceived failure to protect GN Bank and the livelihoods it sustained. Specific disappointment was directed towards the leadership of the Elmina Traditional Council.
Dr. Nduom, the founder of Groupe Nduom and GN Bank, addressed the impassioned crowd, expressing his own deep frustration with the circumstances surrounding the bank’s closure. He vehemently rejected the official narrative, arguing that the closure was not simply a matter of regulatory compliance but a targeted attack designed to stifle Ghanaian entrepreneurship and innovation. Despite this setback, Dr. Nduom remains optimistic, expressing hope that a future administration will recognize the vital role GN Bank played and reinstate it.
He passionately emphasized the devastating impact of the bank’s closure on small businesses and particularly vulnerable rural communities, where GN Bank offered essential and accessible financial services. Dr. Nduom insisted that the campaign transcends his personal interests, framing it as a fight to restore hope and confidence in Ghana’s local economy and its people.
The Elmina protest represents a significant event within a broader national campaign aiming to mobilize public support for GN Bank’s reinstatement. Similar demonstrations have taken place across the country, amplifying the message and highlighting GN Bank’s significant contributions to the Ghanaian economy before its license was revoked. Dr. Nduom concluded his address by expressing unwavering optimism, asserting that with continued public support, the campaign will ultimately prevail and GN Bank will be restored.
