The government has approved GH¢2.3 billion towards the restructuring and recapitalization of the National Investment Bank (NIB).
This was disclosed by the Finance Minister, Dr. Mohammed Amin Adam, at the Finance Ministry’s monthly briefing.
According to him, the first tranche of GH¢400 million is expected to be transferred to the bank before the end of May 2024.
He explained that the restructuring and recapitalisation process also include strengthening “the governance structure and operational efficiency, enhance supervision, and improve risk management to improve and sustain the financial viability of NIB.”
“Ladies and gentlemen, as part of the implementation of the PC-PEG, the Cabinet has approved the plan for restructuring and recapitalization of the National Investment Bank (NIB). This will involve a programmed equity injection of about GH¢2.3 billion over the next 12 months, with the first tranche of GH¢400 million expected to be transferred to NIB before the end of this month.
“The plan also includes measures to strengthen the governance structure and operational efficiency, enhance supervision, and improve risk management to improve and sustain the financial viability of NIB.”
By: Rainbowradioonline.com/Ghana
