wpid-uniben.jpgIn the wake of intense competition among financial institutions in the country in recent times, the National Investment Bank (NIB) has announced its intention to embark on a major capitalization drive to raise funds through private placement to enable the Bank maintain its credential as one of the foremost and best in the country.

The bank is targeting to raise at least GHC 250 million through the capitalization exercise.

The Managing Director of the Bank, Dr. Percival Alfred Kuranchie disclosed this in Accra last week during a thanksgiving service to climax the bank?s golden jubilee celebration. He said the bank has contracted NTHC for advise on how best to embark upon the venture in order to maximize gains.

NIB has over the years contributed significantly through equity and debt financing to the overall development of the nation`s economy. Some projects that the bank has helped to establish includes Novotel hotel, Aluworks, the jute factory, cable metals, merchant bank, Apeno Soap Industry and Western Customs among others.

The bank has also produced quality manpower who have in the past contributed and presently contributes to the development of the national economy. NIB has produced Albert Adomako and J.S Addo who were all past managers of the central bank.

Dr. Kuranchie is convinced that, with the support and policy direction, NIB is capable of attaining leadership in Ghana`s financial market.

He was very grateful to God for his mercy and grace that has sustained the bank through challenging times and pray for his guidance to enable the bank grow in leaps and bounds in the years to come.

The Managing Director expressed gratitude to the board, management and staff for their hard work that has brought the bank this far. He salutes all customers of the bank for their loyalty over the years.

He paid glowing tributes to the pioneers of the bank for their forthrightness.

The Director challenged the present staff to exhibit a high sense of dedication and commitment to duty in order for the Bank to realize its set objectives. “This is the time for the present generation of employers to do their best,? he stated.

The National Investment Bank was set up in 1963 through the leadership of Osagyefo Dr Kwame Nkrumah as a development Bank to spearhead Industrialization and Construction for the total development of the national economy.

Source: Christian Kpesese

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