Minister for Finance, Dr Cassiel Ato Forson, has announced the successful recpaitalisation of the National Investment Bank (NIB).

On July 9, Dr Cassiel Ato Forson announced the government's decision to recapitalize the NIB and added that further details of the comprehensive recapitalization plan will be unveiled during the upcoming mid-year review.

Just as stated, the Finance Minister, while presenting the 2025 Mid-Year budget review on the floor of Parliament on Thursday, July 24, shared the ambitious and credible plan to return NIB to profitability and sustainability.

According to the sector minister, to recapitalise the NIB, the government undertook the following initiatives: injected a total cash of GHC450 million, issued re-marketable bonds with a face value of GHC1.5 billion to the National Investment Bank, and transferred GHC500 million of Government of Ghana shares in the Nestle Ghana Limited to the National Investment Bank.

Dr Cassiel Ato Forson indicated that these transfers have significantly improved the capital adequacy ratio from -53.13% at the end of December 2024 to a positive 23% in May 2025.

“By taking these major steps, we have preserved depositors funds valued at GHC6.4 billion. We have also saved over 900 direct jobs at the National Investment Bank. We have preserved an indigenous Ghanaian bank. Unlike the previous administration, we chose to spend to save a bank rather than spend to collapse a bank.”

The incumbent government has prepared a forward-looking, overarching restructuring plan for the National Investment Bank to put the bank on a sustainable path of profitability.

The plan also aims to enhance board independence and objectivity, strengthen risk management, promote accountability and transparency, prevent insider dominance, and improve strategic decision-making.

This plan will, among other things, strengthen the corporate governance framework and systems, improve enterprise risk and controls, establish a modern business model, revamp operational strategy, improve financial performance, institute and enhance supervisory measures, and eventually we will list the NIB on the Ghana Stock Exchange.

Currently, the National Investment Bank has a total paid-up capital of GHC3.4 billion and a capital adequacy ratio of 23%.

“On behalf of the President, I want to use this opportunity to assure the people of Ghana and depositors that our indigenous bank, National Investment Bank, is now prime for business.

More importantly, NIB is back. NIB is now liquid, NIB is now safe and NIB is fully capitalized,” the Finance Minister further stated.

He, thus, encouraged all and sundry to do business with the revitalized Investment Bank (NIB). In May last year, the erstwhile government earmarked GH¢2.3 billion for the recapitalization of the National Investment Bank (NIB).

"As part of the implementation of the Post Covid-19 Programme for Economic Growth (PC-PEG), Cabinet has approved the plan for restructuring and recapitalization of the National Investment Bank (NIB)," the former Finance Minister Dr. Mohammed Amin Adam said.

The recapitalization plan was to involve a programmed equity injection of about GHS2.3 billion over a year, with the first tranche of GHS400 million expected to be transferred to NIB before the end of May last year. This initiative was critical to strengthening the governance structure, enhancing operational efficiency, and improving risk management to ensure the financial viability of NIB.

The International Monetary Fund (IMF) upon approving the disbursement of $370 million to Ghana after reaching a staff-level agreement after the fourth review, noted that further strengthening the country's financial sector stability "requires fully implementing the plan to strengthen NIB, finalizing the reform strategy to support state-owned banks’ viability and sustainability, and developing contingency plans to address weak banks that fail to recapitalize."

Inauguration of NIB Board

Finance Minister Dr Cassiel Ato Forson has inaugurated the new 9-member Board of Directors for the National Investment Bank (NIB). The swearing-in ceremony was held on July 9. The sector minister expressed his congratulations to the new board.

The Board of Directors will be chaired by Mr. Frank Adu Jnr, who has been appointed as Managing Director. Dr Ato Forson noted that under this new leadership, "NIB will operate with the independence and professionalism it deserves."

The complete board composition includes distinguished professionals including Dr. Doli-wura Awushi Abdul-Malik Seidu Zakarai (Managing Director), Hon. Dr. Othniel Ekow Kwainoe, Hon. Ebenezer Kwaku Addo, Dr. Mrs. Mercy Naa Aku Ofei-Koranteng, Dr. Shani Bashiru, Mr. Max George Cobbina, Dr. Kwasi Akyem Apea-Kubi and Dr. Alfred Attuquaye Botchway.

Recapitalizing ADB, CBG

Finance Minister Dr Cassiel Ato Forson has announced the government's decision to recapitalize the Agricultural Development Bank (ADB) and Consolidated Bank Ghana Limited (CBG).

The government aims to recapitalize the Agricultural Development Bank in 2026. This move, according to the sector minister, is aimed at strengthening ADB’s financial position to better support farmers, agribusinesses, and agricultural value chain initiatives.

The recapitalisation of the Consolidated Bank Ghana Limited (CBG) will be done in the coming year. This comes after approximately GH₵30 billion was spent to purportedly salvage and restore confidence in the financial sector.

Newly appointed Board Chairman of CBG, Mr. Ernest Mawuli Agbesi, commended the government’s resolve to recapitalize the bank and pledged that the board would work diligently to deliver value to both the government and the Ghanaian people.

Dr Ato Forson has inaugurated the new Board of Directors for the Agricultural Development Bank (ADB). The sector minister highlighted the critical role of agriculture in national development, noting that no country can achieve sustainable growth without a vibrant and resilient agricultural sector.

He therefore tasked the new ADB Board chaired by Mr. Kenneth Kwamina Thompson "to remain focused and guided by their primary mandate—serving Ghana’s agricultural sector."

The newly inaugurated board is chaired by Mr. Kenneth Kwamina Thompson, with Mr. Edward Ato Sarpong serving as Managing Director.

Other members of the board include Hon. Andrew Dari Chiwitey, Mr. Siisi Essuman-Ocran, Hon. Dr. E. Prince Arhin, Hon. Misbahu Mahama Adams, Wing Commander Samuel J.A. Allotey, Mr. Courage Akanwunge Asabagna and Mr. Abdul Nasir M. Saani.

The sector minister has sworn in the Board of Directors for Consolidated Bank Ghana Limited (CBG). To the Consolidated Bank Ghana Limited (CBG) Board of Directors, the Finance Minister issued a firm warning against the era of excessive salaries and board allowances within State-Owned Enterprises (SOEs). He stressed that such practices would not be tolerated under the current administration.

"It is equally important that this board safeguards taxpayers’ money, as you have been entrusted with a crucial national asset,” Dr Ato Forson charged.

The newly inaugurated CBG Board also includes Dr. Naomi Wolali Kwetey — Managing Director, Ms. Irene Ackuaku, Mr. David Adom, Mr. Michael Kwasi Anyamesem, Mr. Stephen Kporzih, Dr. Sa-ad Iddrisu, Mrs. Immaculate Kawe Kanlisi and Mr. John Alexander Ackon.