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GN sues gov’t over GHS4,416,719 debt

A subsidiary of Groupe Nduom, Ghana Growth Fund Company Limited, has dragged the government to court over debts owed it.

The suit, filed by the company at the Commercial Division of the High Court on Tuesday, 9 July 2019, stated that the government’s indebtedness has made it difficult for the company to pay its investors.

The company is praying the court to help it recover GHS4,416, 719.37 plus accruing interest from the government.

About Ghana Growth Fund Company Limited

The Ghana Growth Fund Company Limited is a private equity and venture capital firm that specialises in investments in all stages of a company’s life-cycle (startups, recapitalisation, leveraged buyouts, management-led buyouts, buy-ins, expansion and development capital, mature stage, strategic minority equity investments, equity private placements, consolidations and buildups, buy and builds, and growth capital financing).

The firm also invests in property-level equity, debt and special situation transactions and businesses. It typically invests in small- and medium-sized enterprises in infrastructural development, non-bank financial institutions, information technology, manufacturing, among others.

The company is a subsidiary of Groupe Nduom, which owns a variety of other companies including GN Bank, First National Togo, First National Cote d’Ivoire, GN Reinsurance, GN Life Assurance, Gold Coast Fund Management, Gold Coast Brokerage, PenTrust and Liberian Enterprise Development Finance Company.