Groupe Nduom have moved swiftly to deny speculation on Social media that they invested with embattled gold dealership firm, Menzgold.
Last week, the Bank of Ghana announced that it had reclassified the licence of GN bank which is a subsidiary of Groupe Nduom and they will now operate as a Savings and Loans Company after it failed to meet the mandatory minimum capital of GHC 400 million.
Some social media comments suggested that failed investments by GN with Menzgold had accounted for thier inability to meet the minimum capital requirement.
However, a press statement signed by the Head of Corporate Affairs at Groupe Nduom, Frank Owusu-Ofori stated that neither Groupe Nduom nor its subsidiaries, has made any investment with Menzgold Ghana Limited.
Below is the press statement by GN Bank;
The attention of Groupe Nduom has been drawn to some social media commentary, attempting to suggest Groupe Nduom has invested part of its funds in Menzgold Ghana Limited.
We wish to state unequivocally, that neither Groupe Nduom nor its subsidiaries, has made any investment with Menzgold Ghana Ltd.
Frank Owusu-Ofori Head, Groupe Nduom Corporate Affairs