Accra: Dr. Doli-Wura Awushi Abdul-Malik Seidu Zakaria, Managing Director of the National Investment Bank PLC (NIB), has announced that the bank’s financial stability has been significantly strengthened following a successful recapitalization effort. This development is seen as a critical step in accelerating Ghana’s industrial transformation.
According to Ghana News Agency, NIB is now well-positioned as a key player in facilitating greater investment opportunities. The bank is focusing on enhancing accessibility, fostering institutional collaboration, and supporting the 24-hour economy agenda. “Today, NIB stands transformed: fully capitalized, strategically repositioned, and reenergized to deliver on its mandate. The Bank is now well-placed to support Ghana’s 24-hour economy, scale up SME financing, and be a leading partner in national development,” Dr. Zakaria stated.
During the official launch of NIB’s new branch at the Driver and Vehicle Licensing Authority (DVLA) offices in Adenta, Dr. Zakaria emphasized that the new branch symbolizes NIB’s renewed strength and commitment to national goals. “It is a statement that NIB is back, stronger and more focused than ever. A statement that we believe in the future of Ghana’s economy and we are investing in it,” he declared.
Dr. Zakaria expressed gratitude to President John Dramani Mahama for his leadership in the recapitalization of NIB. The GH?1.92 billion capital injection is part of a national effort to recalibrate the economy, restore investor confidence, and provide sustainable financing to strategic sectors such as manufacturing, agribusiness, energy, healthcare, and technology.
The Adenta branch exemplifies NIB’s commitment to increasing financial access by integrating banking services within essential public institutions and reaching underserved communities. “By collaborating with vital national institutions such as the DVLA, we aim to make banking more convenient and better integrated into the everyday public service ecosystem,” Dr. Zakaria noted.
Dr. Zakaria also announced plans to relocate NIB’s head office to Cedi House by the end of July, aiming to reduce rental costs and reinvest savings into customer service and sustainable growth. “This initiative forms part of our broader commitment to operationalize the president’s 24-hour economic vision,” he said.
The bank’s strategy is to transform into a profitable institution that supports job creation, business growth, and inclusion. “We are determined to deliver resources not just for the government, but for the good people of Ghana and the world,” Dr. Zakaria asserted.
Mrs. Owusu-Brefo, Head of Customer Service Experience at NIB, emphasized the bank’s commitment to professionalism and customer-centric service. She highlighted the importance of teamwork and discipline, urging employees to maintain confidentiality and professional conduct. “Our goal is to deliver the satisfaction they deserve through unmatched professionalism,” she stated.
Over the years, NIB has evolved from a development finance institution to a commercial bank, facing challenges such as undercapitalization and legacy debts. By the end of 2018, NIB was burdened with over GHS 2.4 billion in nonperforming loans and liabilities, threatening its survival.