Financial analyst Toma Imirhe has shared doubts about the future of GN Savings and Loans Company Limited, even though the company has recently had its operating licence restored and its assets returned to its original owners.
According to him, the main problem is not just getting approval to operate again, but rebuilding the company and winning back the trust of the public.
During an interview on May 21, 2026, he explained that many financial institutions that went through similar situations in the past found it difficult to recover, even after getting their licences back.
He said rebuilding a financial institution is a difficult process. It involves raising enough capital, hiring staff again, restructuring operations, and most importantly, restoring confidence among customers who may still feel worried after the financial sector clean-up exercise.
Using past examples in the banking sector, he questioned whether customers would be willing to save their money with the company again after what happened during the reforms.
“They have got their licence back, but you remember Unicredit also got their licence back some years back and what came of it? You see, getting your license back is one thing, being able to resume business is another thing entirely. First of all, you have to now get sufficient share capital. You need to regain the confidence of depositors.
“You have to get your staff back. These are all very high hurdles that GN Savings and Loans will have to overcome. So, I already have my doubts. Would you go and put your deposits with GN Savings and Loans right now after all that happened since 2019?” he said.
Meanwhile, the Vice President of Groupe Nduom, Nana Ofori Owusu, said the company is fully prepared to restart operations once all the necessary procedures are completed.
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