November 15, 2018 9:13 AM
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Groupe Ndoum to help rural banks meet BoG capital requirements

Groupe Ndoum to help rural banks meet BoG capital requirements

Multinational Family Holding Business, Groupe Ndoum has promised to bail out rural banks that are unable to meet the Bank of Ghana’s minimum capital requirement of GHc 1 million cedis.

The Chief Executive Officer (CEO) of Gold Coast Fund Management, Kwame Asumaning gave the assurance at the Northern Ghana sector Rural Banks Seminar in Tamale.

“GN Bank is ready to assist rural banks unable to raise the 1 million as minimum capital in line with the Bank of Ghana’s directive. We will support you, build you up and encourage financial inclusion.”

According to him, GN Bank, which is an offshoot of Group Groupe Ndoum, is strengthened by the competition in the rural banking sector, hence the move to sustain financial integration.

He reaffirmed Groupe Ndoum’s commitment to build synergies with clients and rural banks to become active industry players in the banking sector.

“The essence of the seminar is to cement Group Ndoume’s relationship with its customers and industry players in the rural banking sector.”

He allayed the fears of the management of rural banks that GN Bank’s national visibility was to frustrate their operations but rather to enhance competition.

“Trust and believe in Groupe Ndoum to meet your needs. Goupe Ndoum is ready to support rural banks to grow.”

There were presentations on the achievements of other sectors of Groupe Ndoum including the GN Life and GN Mobile banking.

The seminar brought together rural bank managers and their stakeholders from the three regions of the north.

Upper West Regional Manager of Gold Coast Fund Management, Augustine Tugbog stated that, “We are committed to providing exceptional products for customer satisfaction. Be reassured of improved products and services that will add value to your businesses.”

The participants raised concerns about the influx of GN Banks which according to them is affecting rural banks sustainability.

With 25 years good standing in the banking sector, the Gold Coast Fund Management has created jobs and added value to rural banking.

The refurbished Tamale branch of the Gold Coast Fund Management was also relaunched.

By: Abdul Karim Naatogmah/

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