ICU optimistic about NIB’s future with government recapitalization move


The Industrial and Commercial Workers Union, ICU-Ghana, says government’s bold decision to recapitalize the National Investment Bank, NIB, will help to reposition the bank to continue its support to financing industry.

The union maintains that the track record of NIB in the past in championing industrialization, cannot be taken for granted.

The ICU-GHANA leadership stated this as part of its response to the 2024 Budget, presented to Parliament on Wednesday.

The General Secretary, Morgan Ayawine, told the media that the union since 2018, opposed moves to take over NIB. He said the ICU again reiterated its position at a meeting with the Finance minister, on the eve of the presentation of the budget.

Mr. Ayawine, in the company of his two Deputies, Emmanuel Benimah, in charge of Operations and Samuel Ananga, in Charge of Administration and Finance, commended government’s resolve to give NIB a new lease of life.

The ICU General Secretary acknowledged the sacrifices of social partners of NIB, in keeping the bank in operation.

He said staff of the bank denied themselves salary increase for two years. He called for urgent attention to the plight of other distressed State Enterprises, like Neoplan, PBC limited and Aluworks.



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