Flotation of National Investment Bank

The Financial Sector adjustment Programme (FINSAP) Implementation Secretariat has signed an agreeement with CAL Merchant Bank Limited, NedBank Investment Bank of of South Africa and Equator Investment Services Limited of the United States to handle the divestiture of the National Inmvestment Bank (NIB).

The divestiture will entail the sale of approximately 55 percent of the government share holdings in NIB. Under the agreement signed earlier this month the multi-national consortium has been tasked with valuing the bank, identifying appropriate investors, both local and foreign and generally advise the government on the best possible ways to maximise value received in respect of the shares. logic linkages which are likely to further strengthen the bank. The divestiture exercise is aimed at further liberalising the financial sector and increasing competition within the sector, NIB is the third Bank besides the SSB and GCB to be placed on the divestiture list. The actual time for the divestiture will however be decided by the government in consultation with the consortium and the Ghana Stock Exchange.