Story by Lawrence Odoom/Phalonzy
Finance Minister Hon. Cassiel Ato Forson has taken a significant step in revitalizing the National Investment Bank (NIB) by inaugurating a new 9-member Board of Directors.
This move aims to restore confidence and drive professionalism in the state-owned bank’s operations. The newly constituted board, chaired by renowned banker Mr. Frank Adu Jnr, brings a wealth of expertise from both public and private sectors.
Under the leadership of this board, NIB is expected to operate with the independence and professionalism it deserves. Dr. Doli-wura Awushi Abdul-Malik Seidu Zakarai will serve as the Managing Director, alongside other esteemed members, including Hon. Dr. Othniel Ekow Kwainoe, Hon. Ebenezer Kwaku Addo, and Dr. Mrs. Mercy Naa Aku Ofei-Koranteng, among others.
A key highlight of the inauguration was the announcement of the government’s bold decision to recapitalize NIB. This move is designed to strengthen the bank’s balance sheet and reposition it to better serve Ghana’s industrial and development financing needs. Comprehensive details of the recapitalization plan will be unveiled during the upcoming mid-year budget review.
Hon. Ato Forson expressed optimism about the bank’s future under the new leadership, stating, “Under this new leadership, NIB will operate with the independence and professionalism it deserves.”
He also congratulated the newly inaugurated board, confident that they will help NIB regain its strategic role in national development.
The recapitalization of NIB is seen as a critical intervention to boost confidence in Ghana’s banking sector and revitalize one of the country’s key state-owned financial institutions. With this development, NIB is set to play a more significant role in driving Ghana’s economic growth and development.
