By Isaac Arkoh, GNA
Elmina (C/R), May 25, GNA – Residents of Elmina in the Komenda-Edina-Eguafo-Abrem (KEEA) Municipality on Sunday afternoon held a jubilant procession to celebrate a High Court order restoring the licence of GN Savings and Loans.
Hundreds, dressed predominantly in white, thronged Elmina’s narrow streets and the Bakaano waterfront to show solidarity with GN Savings and Loans and its founder, Dr Papa Kwasi Nduom, Chairman of Group Nduom, who intends to open the institution’s first branch in Elmina where the bank began.
The procession was led by the Chief Priest, Nana Kwaku Omanyi, who invoked the protection and blessings of the 77 gods of the land for Dr Nduom and his business interests.
Market women, fishermen, youth groups, elders and community leaders joined in the lively drumming and singing to give thanks to God.
Some traders temporarily suspended their trading activities to join the event, while fishermen anchored their canoes offshore to witness the celebrations.
The Chief Priest, flanked by community leaders and business owners, described the court ruling as the restoration of an institution, local pride and economic hope.
“This is a day of healing for our people. GN Bank began here and its revival here signals opportunity for jobs, for local businesses and for the next generation,” he said.
Mr Kobina Badu, the Convener, thanked the judiciary for upholding justice, noting that “the wheel of justice, indeed grinds slowly.”
He said the restoration of the licence would revive depositors’ confidence, reopen credit lines for small enterprises and strengthen relationships between the bank’s regional branches and community stakeholders.
He added that for Elmina, a major fishing hub, the bank’s return means fishermen and fish processors could access predictable loans for inputs and gear.
“Fishmongers will have reliable deposit and payments services to receive proceeds from sales and cold-chain and transport businesses secure finances to expand, reduce post-harvest losses and stabilise incomes,” he said.
Mrs Ama Serwaa, a fishmonger who lost GH¢8,500 when the institution suspended operations, told the Ghana News Agency, she would re-open her stall and resume regular saving with bank to rebuild working capital.
Mr Daniel Kodjo, a transport operator whose savings of about GH¢12,000 was affected, announced plans to restart his tricycle fleet and apply for small loans from the revived bank to repair engines and hire extra hands.
Other petty traders and market women said they hoped to renew their transactions with the bank.
GNA
Edited by Alice Tettey/Benjamin Mensah
Reporter: Isaac Arkoh