NIB celebrates 60th anniversary with commitment to industrialization strategy

National Investment Bank (NIB), Ghana’s first development bank, has launched its 60th anniversary celebration with a promise to continue supporting Ghana’s industrialization strategy. The bank is leveraging its expertise and resources to offer innovative financial solutions to businesses in the country.

The anniversary celebration, themed “NIB@60: Our Bank, Our History, Our Pride,” will last for a year and includes a range of activities such as community service, staff recognition, customer appreciation, long service awards, and Thanksgiving service. NIB hopes these events will strengthen its relationship with stakeholders and show appreciation for the support over the past 60 years.

The Managing Director of NIB, Mr. Samuel Sarpong, noted that surviving for 60 years was a significant achievement, with only 30% of businesses surviving after ten years. He said that being around for 60 years called for celebration, reflection, and renewal of commitment to providing financial solutions to customers.

Over the years, NIB has helped establish many joint-venture businesses, supported key sectors of the economy such as agriculture, industry, and construction, provided financial support to organizations and communities, and created employment for many Ghanaians. NIB now serves individuals, small and medium-sized businesses, and corporate clients through its 48 branches and three agencies located across the nation.

The Deputy Minister for Finance, Dr. John Kuma, praised NIB for its contributions to the economy since 1963, promoting and strengthening rapid industrialization. He said the government was committed to supporting development banks like NIB and Agricultural Development Bank to help accelerate growth in the industrial and agricultural sectors.

NIB is a major player in Ghana’s industrialization strategy, and the government has directed its Board and Management to work towards returning the bank to its original core mandate of supporting industry. Mr. Kofi Owusu-Sekyere, Board Chairman of NIB, stated that the bank would continue to collaborate with government stakeholders, private investors, and the local business community to create jobs, improve living standards, and drive economic transformation.

For the most part, NIB’s 60th anniversary celebration reflects its long and illustrious history, critical role in providing financing to both public and private institutions, and offering innovative financial services to citizens. NIB’s renewed commitment to driving and supporting the nation’s development is an exciting time for the bank and Ghana.

Source: Ghana News Agency