Business News Thu, 9 Nov 2017

NIB engages customers over breakfast

The National Investment Bank (NIB) has engaged a section of its customers at a breakfast meeting held in Accra.

The purpose of the meeting was to interact with NIB Customers across all business sectors of the economy to address the challenges they face in financing their businesses.

It was also to create an avenue for customers to have issues regarding NIB operations addressed during the open forum session.

At the meeting, the Deputy Managing Director of NIB, Mr George Alfred Thompson informed customers that the bank plans to revert to its core mandate as a development bank.

He explained that this will enhance fast industrialization in the country. He added that the Bank would however continue to offer retail banking services to its customers.


Mr Thompson added that NIB was well poised to assist Small and Medium Scale Enterprises (SMEs) and corporate customers to‘‘stand on their feet’’.

He affirmed that NIB had the experience and track record for grooming and growing start-up businesses.

Mr Thompson dispelled news making the rounds that NIB was being taken over. He was emphatic that the bank will meet its capital requirement without having to be acquired or merged with any other bank.

The Managing Partner of Trust Consult, Mr Charles Mensah in a presentation on “Funding for Business Expansion” shared thoughts on appropriate sources of funding for meeting varied needs of businesses. He cautioned business owners and managers on ways to fund various aspects of their businesses without stressing their cash flow and compromising the survival of their businesses.

Addressing an enquiry on NIB flagship product “We Pay for Your Dreams” the General Manager for Client Services Mr Yaw Akosah Antwi explained that it is a Consumer Asset Finance product which allows Institutions, Associations and Individuals own their dream assets. He added that assets available range from building materials, motorbikes, home appliances etc. He explained that NIB pays the vendor of item purchased and recoup repayment from buyer over an agreed period at zero percent interest.

Source: thefinderonline.com