Gov’t to establish a national development bank

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Business News of Tuesday, 10 September 2019

Source: www.ghanaweb.com

play videoAlan Kwadwo Kyerematen, Minister of Trade and Industry

Government has hinted of its intentions to establish a national development bank in the country.

This statement was made by the Minister of Trade and Industry, Alan Kyerematen, who was speaking at the Ghana Industrial Summit and Exhibition 2019 Tuesday.

“Ministry of Finance is also working with other financial institutions globally to establish a national development bank.”

According to the minister, government is restructuring National Investment Bank (NIB) into an industrial bank.

“Government is also refocusing the operations of NIB, restructuring it to become the Industrial bank of Ghana.”

Meanwhile, Chief Executive Officer the Volta River Authority, Ing. Emmanuel Antwi-Darkwa has charged institutions to cultivate the habit of succeeding without support from government.

Citing his outfit, he noted that the VRA developed the slogan ‘VRA beyond Ministry of Finance’, one which has been in existence since the year 2017 and is working for them.

“Let’s look beyond subsidy and support from government. That’s a challenge. It is possible for Ghanaian industries to compete despite the current challenges. Our counterparts in the sub-region are making it too with less. In this era and paradigm, we have Ghana beyond aid, I have something for the AGI, this your slogan should be AGI beyond Aid or AGI beyond Ghana government support”, he said.

At VRA, our slogan is VRA beyond government, more specifically VRA beyond Ministry of Finance and I can assure you, it’s been our guiding principle since 2017. Since 2017 we have never gone to the Ministry of Finance for subsidy, for aid, for anything”, He stated



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