Ministry of Finance says the cabinet has approved a whopping GH¢2.3 billion to restructure and recapitalization of the National Investment Bank (NIB).
Addressing the media at his monthly briefing on the economy, the sector minister, Dr. Mohammed Amin Adam disclosed that the first tranche of GH¢400 million is expected to be transferred to the bank before the end of May 2024.
According to him, the move is also geared toward strengthening “the governance structure and operational efficiency, enhancing supervision, and improving risk management to improve and sustain the financial viability of NIB.”
“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,” Dr. Adam stated.
He continued: “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.”