One of the many Dr Papa Kwesi Nduom’s companies under the Groupe Nduom conglomerate, Gold Coast Securities Company Ltd, now BlackShield and Ghana Growth Fund Company Limited has won a huge GHS174 million judgment against Health Network Company Limited.
On Thursday, July 15, 2021., the ruling was given by the commercial division of an Accra High Court. In a report filed by CitiNews, the ruling, according to Groupe Nduom owners and other stakeholders stated that their license was revoked in a hasty manner.
The report also indicated that the actions of the regulators have caused huge collateral damage to related companies as they have been starved of deposits they placed with their sister companies.
However, Groupe Nduom still stands by its claim that government agencies and the contractors they gave legitimate contracts to, owe the Groupe, more than GHS3 billion with accrued interest.
The ruling further proves the point that if those who had taken money placed with them had paid even 15 % of what was due GN Bank/GoldCoast/Blackshield, the companies would still have been in operation.