Being an opponent doesn’t mean you should shut my businesses down… ” Dr. Papa Kwesi Nduom
Dr. Papa Kwesi Nduom, Chairman of Group Nduom and founder of the Progressive People’s Party (PPP), has publicly expressed his discontent regarding the collapse of his businesses in Ghana, specifically his now-defunct GN Bank. This is not the first time the prominent businessman and politician has voiced concerns about the downfall of his ventures.
In a Facebook Live session on Wednesday, October 30, 2024, Dr. Nduom accused the government of deliberately undermining his businesses due to his political affiliations. Drawing a comparison with the United States, he pointed to entrepreneur Elon Musk’s position, saying, “Elon Musk disagrees with the current president, Joe Biden. He [Elon Musk] is even campaigning for the opponent of the current vice president. But is he not working? Is he not wealthy?”
He continued, “Yes, he is even benefiting from the space programs, grants, and budget that are being implemented by the Biden administration. Nobody is saying, ‘Go and kill him or his businesses because he supports another political party.’”
According to Dr. Nduom, the political climate in Ghana contrasts sharply with that of the U.S., arguing that if America were to operate similarly, it would stifle progress. “Why do we do this to ourselves here in Ghana? Because he disagrees with me, because he is a member of the Progressive People’s Party, because he used to be a member of the CPP, and we are this and we are that, his businesses must be destroyed? He shouldn’t be allowed to eat, and his employees should go home. It must not be.”
Dr. Nduom expressed his disappointment, adding that political opposition should not justify shutting down businesses. “Being an opponent doesn’t mean you should shut my businesses down, as some people have tried to do.”
The troubles of GN Bank began in 2017 when the government, under President Nana Addo, undertook a restructuring of the banking sector, ultimately leading to the creation of the Consolidated Bank of Ghana. Dr. Nduom’s statements underscore his ongoing belief that his businesses were targeted due to his political stance, sparking debate over the influence of politics on business operations in Ghana.
