• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Government approves GHS 2.3 billion for National Investment Bank recapitalization

1 year ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
353
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Government approves GHS 2.3 billion for National Investment Bank recapitalization

The government of Ghana has approved a substantial financial package aimed at restructuring and recapitalizing the National Investment Bank (NIB).

The total approved amount is GH¢2.3 billion, with the first installment of GH¢400 million expected to be disbursed by the end of May 2024.

This decision was announced by Dr. Mohammed Amin Adam during the Ministry of Finance’s monthly briefing.

“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,” he averred.

The restructuring and recapitalization initiative is part of a broader strategy under the government’s Post-COVID-19 Economic Growth Program (PC-PEG).

The plan involves a comprehensive approach to strengthen NIB’s governance, operational efficiency, supervision, and risk management to ensure the bank’s long-term financial stability.

RelatedPosts

The Rise of Women-Tailored Insurance Policies in Africa

Energy Ministry, NPA Engage Industry on Proposed Petroleum Sector Legislation

President Mahama Targets Billion-dollar Ghana–Singapore Trade in 24-Hour Economy Pitch to Investors

Dr. Adam emphasized that these measures are crucial for sustaining NIB’s viability and its role in the economy.

The Minority Caucus in Parliament in September 2023 alleged that the government was scheming to sell the National Investment Bank to its cronies when it announced plans to either merge the bank with the Agricultural Development Bank or collapse it.

Isaac Adongo, speaking on behalf of the Minority Caucus, criticized the government’s plan, suggesting it was an attempt to state capture rather than a genuine effort to revitalize the bank.

“It is clear that this is not about the interest of NIB. This is the last step towards passing through the back door to acquire NIB and ABD for themselves in a state capture,” he quipped.

The restructuring and recapitalization of NIB are critical steps for the bank’s future, aiming to enhance its capacity to support economic growth. The controversy surrounding the government’s intentions, however, highlights the political and public scrutiny over how state-owned financial institutions are managed and reformed.

Tags: Government approves GHS 2.3 billion for National Investment Bank recapitalizationNational Investment Bankrecapitalization
No Result
View All Result

Highlights

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

Dollar Slides as Trump Fires Fed Governor Lisa Cook

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

Trending

Business

The Rise of Women-Tailored Insurance Policies in Africa

August 26, 2025

The Rise of Women-Tailored Insurance Policies in Africa For decades, women’s protection has remained largely tucked under...

Energy Ministry, NPA Engage Industry on Proposed Petroleum Sector Legislation

August 26, 2025

President Mahama Targets Billion-dollar Ghana–Singapore Trade in 24-Hour Economy Pitch to Investors

August 26, 2025

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

August 26, 2025

Dollar Slides as Trump Fires Fed Governor Lisa Cook

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.