Finance Minister, Dr. Cassiel Ato Forson, has defended the government’s decision to inject capital into the National Investment Bank (NIB), stating it was a deliberate move to preserve a key indigenous financial institution.
Delivering the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr. Forson explained that rather than allow the bank to collapse, government opted to invest in restructuring efforts to ensure NIB plays a meaningful role in Ghana’s economic recovery.
“We chose to spend to save a bank than spend to close an indigenous bank,” he declared.
This intervention, according to the Minister, aligns with government’s broader vision of revitalising development finance in the country. It also includes the transfer of 500 million GoG shares in Nestlé Ghana Limited to the bank to strengthen its capital base and mandate.
READ: Government transfers 500 million Nestlé Ghana shares to NIB – Finance Minister
NIB is being repositioned to support industrialisation and agricultural transformation, serving as a development-oriented institution that can extend long-term credit to key sectors of the economy.
Source: Starrfm.com.gh
