Elated traders at the Kotokuraba Central Business District in Cape Coast had welcomed the Court of Appeal’s decision to restore GN Bank’s licence after its revocation by the Bank of Ghana some seven years ago.

Despite heavy rains and slow sales when news got to them of the Court’s decision on Thursday morning, the visibly relieved traders said it would help stabilise the operations of small and medium-sized enterprises and restore confidence in local lending services.

They said the licence restoration would reopen essential banking services, revive credit lines previously relied on by small businesses and ease cash-flow constraints that had hampered trade during the bank’s regulatory difficulties.

The traders urged GN Bank and regulators to ensure a smooth, transparent resumption of services, so customers could promptly regain access to deposits, loans and payment services.

Madam Efua Agyapong, a second-generation textile trader at Kotokuraba, said GN Bank’s quick microloans kept her business afloat during quiet months.

She said that when she needed money to bring new fabrics from Accra, the GN Bank gave her a short loan the same day she requested for it.

Sanitary items seller, Madam Fatimatu Iddrisu praised the bank’s understanding of local commerce and its faster turnaround on small loans compared with larger banks.

She added that GN Bank’s local branches across the region, particularly in Cape Coast and Elmina, had provided straightforward deposit, withdrawal and payment services, which had reduced the need for traders to travel to distant banks.

Mr Daniel Mensah, who operates a provision and rice shop, recalled that he had relied on GN Bank’s overdraft to buy bulk rice to boost his business.

He said they lost business when the bank stopped and that, with the licence restored, he hoped to restock and serve more customers.

Mrs Akosua Darko, frozen-fish seller, highlighted the convenience of GN Bank’s mobile and branch services, collecting daily ‘susu’ and paying suppliers without long queues.

She added that before the closure the bank had helped her save and send money to her family in the north.

Many traders described GN Bank as a dependable source of short-term loans and overdrafts that they had used to buy stock and meet seasonal demand.

Traders said they saw the court’s decision as evidence that regulatory and legal processes could correct disruptive outcomes and help restore customer confidence and normal trading rhythms.