The Minister for Finance, Mohammed Amin Adam has said cabinet has approved a plan for the restructuring and recapitalisation of the National Investment Bank (NIB).
Amin Adam said as part of the plan, the government will recapitalise the NIB with an amount of GHC2.3 billion in the next 12 months.
He said a first tranche of GHC400 million is expected to be transferred to the NIB by the end of this month (May 2024)
Speaking at the monthly economic update in Accra on Friday (24 May), Amin Adam said, “As part of the implementation of the PCPEG, cabinet has approved the plan for restructuring and recapitalisation of the National Investment Bank (NIB). This will require an injection of about GHC2.3 billion and this will be done over the next 12 months.”
“The first tranche of GHC400 million is expected to transferred to the National Investment Bank before the end of this month. This demonstrates our commitment to implementing the recapitalisation and restructuring programme of NIB. The plan also includes measures to strengthen the governance structure.
“The government has intervened in NIB in the past and so this time around, the capital intervention is going to be backed by governance reforms in NIB in order to assure us and the people of Ghana to their money that would be put into NIB would be managed well.”
The minister said some of the governance reforms that is expected to be implemented will include strengthening the structural and operational efficiency of the bank, enhancing supervision and also improve risk management to sustain the financial viability of the bank.
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