Dormaa-ahenkro: Mr Edwin Akai Nettey, the Dormaa-Ahenkro Branch Manager of the Brong-Ahafo Catholic Cooperative Society for Development (BACCSOD), has praised the government's intention to re-capitalise the National Investment Bank (NIB).
According to Ghana News Agency, Dr. Cassiel Ato Forson, the Minister of Finance, announced this decision during the presentation of the Mid-Year Budget Review to Parliament.
The government also aims to list NIB on the Ghana Stock Exchange (GSE). In an interview with the Ghana News Agency (GNA) at Dormaa-Ahenkro in the Bono Region, Mr Nettey described this move as appropriate and necessary, citing the negative capital adequacy ratio of NIB, which has hindered the bank's ability to finance its liabilities during crises.
Mr Nettey remarked that the government's decision would foster sound corporate governance and enable effective monitoring of the bank's operations by shareholders. He further advocated for the dismissal of non-performing managers of state and public enterprises, criticizing those who lead companies to underperform or incur losses.
He emphasized that the appointment of managers for state-owned enterprises should be based on merit rather than political connections. Mr Nettey warned that appointees lacking technical expertise and experience risk mismanaging vital state assets.
Accountability for those managing state institutions was another key point raised by Mr Nettey. He suggested that managers should be held accountable to prevent non-performance and mismanagement, advocating for commendation of competent managers and decisive action against underperformers.
Finally, Mr Nettey encouraged the government to implement performance-based contracts for managers, retaining only those who demonstrate competence through evaluations and performance assessments.
