Dr Cassiel Ato Forson is the Minister of Finance
As part of efforts to revitalise the National Investment Bank (NIB), the Government of Ghana has transferred GH₵500 million worth of its shares in Nestlé Ghana Limited to the state-owned bank.
The move, according to the Minister for Finance, Dr Cassiel Ato Forson, forms part of a broader recapitalisation strategy aimed at restoring the financial health of NIB and reinforcing its capacity to support national development.
The Finance Minister made the disclosure when he presented the 2025 Mid-Year Budget Review to Parliament.
He explained that the transfer is one of several key interventions government has undertaken to strengthen the bank’s balance sheet.
“In addition to the GH₵450 million cash investment into NIB, we have issued a remarketable bond with a face value of GH₵1.5 billion and transferred GH₵500 million worth of Government of Ghana’s shares in Nestlé Ghana Limited to the bank,” he stated.
He noted that these measures have helped preserve depositor funds to the tune of GH₵6.4 billion and have contributed to stabilising the bank which had previously come under scrutiny.
The restructuring of NIB comes within the context of a broader financial sector reform programme aimed at enhancing the resilience of financial institutions, improving governance, and repositioning state-owned banks—particularly development finance institutions—to play a more active role in Ghana’s medium- to long-term growth.
Government’s decision to transfer equity in a profitable private company such as Nestlé Ghana is being seen as a strategic step to shore up NIB’s asset base while giving it access to long-term value.
The recapitalisation of NIB is also in line with prior actions under Ghana’s ongoing programme with the International Monetary Fund (IMF) which has been pushing for decisive action on the future of the bank.
While there were calls from some quarters for the bank to be shut down due to financial challenges, the government chose instead to strengthen it through fresh capital injection, asset transfers, and governance reforms.
AS/AME
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