|
Getting your Trinity Audio player ready...
|
In a significant move towards strengthening Ghana’s financial sector, Dr. Doliwura Zakaria, Managing Director of National Investment Bank PLC (NIB), has called on the Chief of Staff, Mr. Julius Debrah.
He expressed gratitude to President John Dramani Mahama for entrusting him with the leadership of the bank and reaffirmed his dedication to transforming NIB into a premier financial institution that plays a pivotal role in Ghana’s economic development.
During the discussions, Dr. Zakaria outlined strategic initiatives aimed at revitalizing the bank, emphasizing his commitment to implementing robust measures to enhance operational efficiency and profitability. He pledged to achieve substantial profitability by the third quarter of 2025, marking a significant milestone in the bank’s turnaround journey.
This development highlights the government’s proactive approach to ensuring the sustainability and growth of key financial institutions, with NIB poised to become a cornerstone of Ghana’s economic progress. Dr. Zakaria commended the government for promptly addressing NIB’s petition to revert the National Investigation Bureau’s acronym back to Bureau of National Investigations (BNI).
The previous acronym overlap had caused public confusion; thus, this change is anticipated to enhance NIB’s corporate identity and reinforce public confidence in the bank. Aligning with the government’s ‘BIG PUSH’ and “24-Hour Economy” initiatives, Dr. Zakaria highlighted NIB’s collaboration with the Ministry of Transport and the Driver and Vehicle Licensing Authority (DVLA).
This partnership involves establishing an ultramodern flagship branch at the Adenta DVLA office, designed to provide continuous banking services to the Adenta community and DVLA customers, thus promoting financial inclusion and convenience. Addressing the bank’s financial state, Dr. Zakaria appealed for the expedited release of the remaining recapitalization funds as outlined in the 2025 budget.
These funds are crucial for strengthening NIB’s capital base, enabling the bank to enhance its service offerings and achieve its profitability targets. The 2025 Budget Statement has earmarked GHS2.2 billion for the capitalization of NIB and the Agricultural Development Bank, reflecting the government’s commitment to bolstering state-owned financial institutions.
Dr. Zakaria discussed plans to relocate NIB’s Head Office to Cedi House, seeking the Chief of Staff’s assistance in facilitating a swift approval process with the Bank of Ghana, given the time-sensitive nature of the move. He emphasized the importance of collaborating with Ministries, Departments and Agencies and Metropolitan, Municipal, and District Assemblies and various ministries to manage project funds, thereby fostering stronger institutional relationships and expanding NIB’s business portfolio.
Dr. Zakaria expressed gratitude to the Chief of Staff and the Presidency for the audience and commended the Minister of Finance, the Governor of the Bank of Ghana, and the other sector ministers and agencies already collaborating and supporting the ban. He reiterated his commitment to steering NIB towards a prosperous future, contributing to Ghana’s economic growth and development.
In response, Mr. Debrah commended Dr. Zakaria’s approach and vision for NIB and advised the bank to prioritize the development of innovative, technology-driven products and to enhance customer experience. Such initiatives are essential to attract and retain technologically savvy, high-net-worth clients and businesses both within Ghana and internationally.
He assured Dr. Zakaria of his support in advocating the bank’s full recapitalization, recognizing its pivotal role in the nation’s financial ecosystem. This engagement underscores NIB’s dedication to aligning with national objectives and its resolve to implement strategic initiatives to solidify its position as a cornerstone of Ghana’s financial sector.
Source: GNA
