Government has described as completely misplaced, claims made by some aggrieved residents of Elmina which suggested that the woes of GN Savings and Loans were as  a result of government’s failure to honour its financial obligations to GN.

According to a statement signed and issued by Deputy Minister of Information, Nana Ama Dokua Asiamah-Adjei in response to a press conference organised by the aggrieved residents last week on the revocation of the operating license of GN Savings and Loans, as at August 6, 2019, Government’s indebtedness to GN amounted only to GH¢30.33 million.

The statement said: ”An agreement has, indeed, been reached between the Ministry of Finance and GN to settle this debt. However, even when completely settled, it will still not address GN’s capital deficit of GH¢683.66 million.”

The statement further said:”The Akufo-Addo administration has nothing to gain from the closure of a company belonging to a Ghanaian. That is not how the President views his mandate. On the contrary, since assuming office in 2017, the pre-occupation of President Akufo-Addo has been to incentivize the Ghanaian private sector to be able to compete effectively in the region, the continent and the world, create jobs for the Ghanaian people, and put our nation onto the path of progress and prosperity.”

Attached below is a copy the statement

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