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The Management of Groupe Nduom financial companies is calling on its debtors to engage in a sit-down discussion with it on a settlement approach.
The approach of communication and negotiation to reach workable solutions, according to the Management, is influenced by the fact that the economic environment in the country is “tough”.
The clarion call follows the disregard of the organizations and individuals including contractors and government agencies for the polite request made by Groupe Nduom.
If it would be recalled, Today Newspaper published a statement in 2019 that read: “We wish to inform our debtors about the urgent need for them to settle their debts – loans, commercial paper, investments, etc. We remain flexible to work out payment terms to suit the needs of all stakeholders. We are asking all debtors to contact officers …to begin the process of settling their debts immediately. We are conveniently located everywhere in the country. We are asking for this to be done by 28th February 2019. Those who fail or refuse to come in for settlement negotiations will face several consequences we do not wish to impose.
This would include publication of names and liabilities in the media, claim placed on collateral, legal action and other actions available under the laws of the Republic of Ghana.”
However, their failure to heed the call led to the publishing of the list of over 4,000 debtors with the headline “Nduom releases list of over 4,200 companies, individuals and schools owing him GH¢434million”.
Some of the over 4,000 companies sighted in the list included Agyakot, Dynamic Star, GLICO, Healthcare Network, Asabea Engineering, Platinum Seal, Jewuu Construction, and Madara Limited.
The publication, however, did not include the receivables tied to government agencies.
Meanwhile, numerous lawsuits were in the midst of the call filed against government agencies, contractors, and companies in fields such as investment, insurance, construction, health and education.
It was at the time when several GN companies had suffered from loss of licenses, low liquidity and general business difficulties.
According to the Management, it has been strategizing over the past week on how to energize, strengthen and build back a better business organization.
An important part of the process is a fresh effort to recover the debts owed to its companies.
“Starting this week, very rigorous contacting of debtors of GN companies will begin”, a source who spoke on condition of anonymity said.
The objective, according to the source is to pave the way for a sit-down aimed at resolving debt payment challenges.
“When it becomes necessary, we will begin to publish detailed facts with figures to show how each company became indebted, the purpose of the original facility and efforts made over the years to get them to pay. A desk has been set up to make it easier for communication between debtor companies and the GN office responsible for workouts. Debtors are encouraged to call these two numbers: MTN: 0598383232 and VODAFONE: 0205529331” the source added.
The GN officer promised that plans were far advanced to use all available legal debt collection tools to motivate debtors to pay attention and fulfil their obligations.
The source also indicated the Today Newspaper which has been investigating the happenings is “standing by to begin publication of those companies and individuals who prove difficult to reach.”
