The Progressive People’s Party (PPP) has said it now believes the closure of Groupe Nduom’s companies was politically-motivated.

The party, in a statement, alleged that the collapse of GN Bank, Gold Coast Fund Management, among others, was a deliberate attempt to destroy the PPP’s former founder and former presidential candidate Dr Papa Kwesi Nduom’s entrepreneurial and job creation agenda.

“In 2012 and 2016, the Progressive People’s Party (PPP) fielded the same presidential candidate, Dr Papa Kwesi Nduom, who is known throughout the country as ‘Edwumawura’ for creating thousands of good permanent jobs, directly and indirectly in Ghana. He was considered a ‘doer’ by people from all walks of life due to his job creation accomplishments that people could see and feel”, the statement signed by its National Secretary Paa Kow Ackon said.

The PPP continued: “Since the 2016 elections, however, Dr Nduom’s job creation machine has been shut down for political considerations, contrary to what pertains in right-thinking societies; that the job creation abilities of citizens like Dr Nduom, evidenced in his private life as a global giant of enterprise, is an asset that he would bring to bear on solving the unemployment problem in Ghana.”

“It is sad, but we wish to put on record that prospective entrepreneurs, majority in the youth bracket of the Ghanaian population, who looked up to Dr Nduom, have been denied the critical mentorship needed to achieve their dreams and have now added up to the unemployed graduates and jobless youth associations with dire consequences for the country’s economy, security and democracy.”

The party further served “notice that the challenges that have been deliberately foisted on Groupe Nduom companies, particularly GN Bank and Gold Coast Fund Management (GCFM), resulting in the loss of thousands of jobs, cannot and will not be ignored in the call to account for the increased unemployment situation in the country.”

The party emphasised that: “Over the past two years, we have restrained ourselves as a political party from getting involved in what we considered to be corporate affairs, separate from politics. However, the legal gymnastics by lawyers of the Bank of Ghana, Ministry of Finance and their collaborators in the ruling government, to unduly delay and orchestrate the denial of justice in the GN Bank case before the courts, have convinced us that the closure of GN business interests is politically-motivated and must be seen as such, without prejudice to the proceedings in court.”


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