Traders and market women in the Sekondi-Takoradi have welcomed the Court of Appeal ruling ordering the restoration of the operating licence of GN Savings and Loans, describing it as a major boost for small businesses and informal traders.
The ruling, which overturned the earlier revocation of the bank’s licence during the 2019 financial sector clean-up, has sparked excitement among petty traders who relied heavily on the bank’s daily susu collection system and flexible micro-credit services.
Many traders said the collapse of the financial institution left them struggling to access loans and maintain their businesses, as larger commercial banks failed to provide the same level of support to small-scale operators.
Speaking at the temporary market sites near the Takoradi Market Circle, several traders expressed optimism that the return of the bank would revive business activities and improve access to working capital.
A vegetable seller, popularly known as Auntie Mary, described the court’s decision as a victory for ordinary market women, saying GN Bank understood the realities of small traders by bringing banking services directly to their stalls.
She noted that after the closure of the bank, many traders found it difficult to secure loans to sustain and expand their businesses.
Mr. Kweku Essuman, a footwear dealer, also praised the decision, stating that the return of the bank would restore flexible credit opportunities for traders.
According to him, GN Bank was not designed for only wealthy customers but served the needs of ordinary Ghanaians and small business owners who depended on accessible financial support to grow their enterprises.
With preparations underway for the institution to resume operations, traders say they are eager to reactivate their savings accounts and reconnect with a bank they believe played a critical role in supporting the local economy.
