The Minister for Finance, Dr Cassiel Ato Forson, has inaugurated a new nine-member board of the National Investment Bank (NIB), signaling a renewed effort to strengthen and reposition the state-owned bank.

Speaking at the inauguration on July 9, 2025, Dr Forson emphasised that the new leadership is expected to operate with the independence and professionalism the institution deserves.

He also announced that the government plans to recapitalise NIB as part of broader efforts to revamp Ghana’s financial sector. Full details of the comprehensive recapitalisation plan, he said, will be presented during the upcoming mid-year budget review.

“I extend my congratulations to the newly inaugurated board, led by Frank Adu Jnr, who has been appointed as Managing Director, bringing fresh leadership to the institution,” the finance minister stated.

Established in 1963, the National Investment Bank is a state-owned development and commercial bank that was originally set up to provide financing for Ghana's industrial and manufacturing sectors.

Over the years, the bank has undergone significant transformations but has faced financial and governance challenges in recent times.

Meanwhile, the recapitalisation plan and leadership overhaul are expected to restore confidence and reposition NIB to play a more impactful role in industrial financing and private sector development.

The complete board composition includes:

1. Doli-wura Awushi Abdul-Malik Seidu Zakarai (Managing Director)

2. Dr Othniel Ekow Kwainoe

3. Ebenezer Kwaku Addo

4. Dr Mrs. Mercy Naa Aku Ofei-Koranteng

5. Dr Shani Bashiru

6. Max George Cobbina

7. Dr Kwasi Akyem Apea-Kubi

8. Dr Alfred Attuquaye Botchway