The National Investment Bank (NIB) will be restructured and recapitalized with GH¢2.3 billion approved by the government. It is anticipated that the bank will receive the GH¢400 million first tranche by the end of May 2024. At the Ministry of Finance‘s monthly briefing, Dr. Mohammed Amin Adam announced the approval and added that as part of the restructuring and recapitalization process, “the governance structure and operational efficiency, enhance supervision, and improve risk management to improve and sustain the financial viability of NIB” will also be strengthened.
Ladies and gentlemen, the National Investment Bank’s (NIB) reorganisation and recapitalization plan has been authorised by the Cabinet as part of the PC-PEG implementation. The first tranche of GH¢400 million is anticipated to be handed to NIB by the end of this month. This will comprise a planned equity injection of roughly GH¢2.3 billion over the next 12 months.
“To improve and sustain the financial viability of NIB, the plan also includes measures to strengthen the governance structure and operational efficiency, enhance supervision, and improve risk management.” When the government revealed intentions to either merge the National Investment Bank with the Agricultural Development Bank or collapse, the Minority Caucus in Parliament said in September 2023 that the administration was plotting to sell the bank to its friends. It is evident that NIB’s interests are not at stake in this. At a news conference, Isaac Adongo stated, “This is the final step towards using the back door to obtain NIB and ABD for themselves in state capture.”
