The president and Chairman of Groupe Nduom has described 2019 as a “particularly difficult” year for the Groupe.
Dr. Papa Kwesi Nduom said many challenges were “put our way with very negative consequences, intended and unintended.”
“More than 3,000 employees lost their jobs due to these challenges. Other jobs are at risk,” the 2016 presidential candidate of the Progressive People’s Party (PPP) said in his Christmas message to Ghanaians.
“This [year] has been a particularly difficult one for us at Groupe Nduom. We acknowledge the difficulties experienced particularly by our banking and investment customers. For that, we are sorry,” he said.
Businesses belonging to the Groupe were affected by the banking reforms undertaken by the Bank of Ghana, including GN Bank which was not able to meet the minimum capital of GH₵400 million.
Also, Blackshield Capital Management, an investment firm belonging to the Groupe was affected by the Security and Exchanges Commission (SEC) reforms in the latter part of the year.
In the midst of these challenges, Dr Nduom shares his optimism about 2020.
“We are determined to leave behind the difficulties of 2019, and enter the new year, 2020, with bright new ideas, with renewed strength and with the support that we believe will come from many quarters, so that we can get back into place and deliver the kinds of services and produce the goods that have come to be associated with Groupe Nduom,” he said.
He added: “We will prove to everyone particularly ourselves that indeed when we say Groupe Nduom; Beyond Excellence, we mean that; we will live it.”