- An initial tranche of GH¢400 million will be transferred
- The plan goes beyond just financial injection
- The new plan emphasizes improving NIB's financial viability
The government has announced a plan to restructure and recapitalize the National Investment Bank (NIB) with a total investment of GH¢2.3 billion over the next year.
First Tranche of GH¢400 Million Arrives This Month
An initial tranche of GH¢400 million will be transferred to the bank by the end of May 2024.
Beyond Investment: Improving Governance and Efficiency
The plan goes beyond just financial injection. It also includes measures to strengthen NIB’s governance structure, boost operational efficiency, enhance supervisory oversight, and improve risk management practices. These steps aim to ensure the bank’s long-term financial health.
Previous Concerns Addressed
This announcement follows concerns raised by the Minority Caucus in Parliament in September 2023. They had expressed worries that government plans to merge or restructure NIB were a precursor to selling it to private interests.
The new plan emphasizes improving NIB’s financial viability, rather than privatization. This could be seen as an effort to address those concerns.
