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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government of Ghana has recapitalized the National Investment Bank (NIB) with GH₵ 1.4 billion.
This, sources say, was done in the form of cash and bonds to support the operations of NIB.
The move is part of efforts to restructure the bank and put it on a strong footing going forward.
In addition, the government has been forced to fast-track the process as part of the conditions before the International Monetary Fund (IMF) staff takes Ghana’s fourth programme review to the IMF Board for approval.
Source: newsthemegh.com