The President and Chairman of GN Bank, Dr. Papa Kwesi Nduom, said his bank is in Liberia to stay, and has pledged to establish other branches around the continent.
He made the statement recently at the official launch of GN Bank in Monrovia, stressing that the bank’s presence here is not only focused on competing with other banks, but rather to grow the banking industry. Dr. Ndoum also called on other banking institutions across Liberia to improve their investment to make Liberia financially strong.
He said GN Bank Liberia Limited stands ready to demonstrate to Liberia what it has done in Ghana and other African countries, especially the introduction of mobile banking technology.
“We believe that it is our responsibility to share in the task of nation building, and that is why we are here,” Dr. Ndoum said, assuring depositors that their capital will be managed properly.
GN Bank, according to him, will construct a multipurpose building as a demonstration of their commitment to the Liberian banking sector and commended the Central Bank of Liberia for allowing GN Bank to operate in the country, praising other banking institutions in the country for their services to Liberia.
Also speaking, Vice President Joseph N. Boakai welcomed the investment and called on other investors to emulate the good example of GN Bank.
VP Boakai said in spite of the drawdown of the United Nations Mission in Liberia (UNMIL), the country will remain stable to encourage people in the sub-region to invest in Liberia.
“We want to be grateful to our sub-region for the confidence reposed in the country. We are proud of the investment,” he said.
With all the problems in the country, he said, there is always ongoing business at banking institutions across Liberia.
He also pledged Liberia’s continuous commitment to GN Bank. “Gone are the days when we used to take about three, four to five banks to finance some projects; today, probably one or two banks can do it,” he said.
Central Bank of Liberia Governor Dr. Milton Weeks described the launch of GN Bank in Liberia as a milestone, which came through the collaborative efforts of CBL and its partners.
Governor Weeks described the US$18.5 million investment by GN Bank as a sign of confidence amid series of challenges facing the financial sector.
“We are proud that good things are coming to Liberia despite challenges in the banking sector of Liberia. It means Liberia is on the right trajectory, which is also the focus of the government,” Governor Weeks said.