The National Investment Bank (NIB) PLC has donated one million cedis to support the Ghana Armed Forces’ housing redevelopment project at Burma Camp, as the bank signals a renewed push to strengthen its operations and deepen ties with the military.
Chief Dr. Doliwura Zakaria, Managing Director of NIB PLC, said the contribution forms part of the bank’s commitment to the Armed Forces, noting that the two institutions have maintained a long-standing relationship through both “challenging and prosperous periods.”
“Your continued confidence in us, especially during the difficult restructuring years, demonstrated institutional loyalty and trust,” he said during a cheque presentation ceremony.
Announcing the seed funding for the military’s housing initiative, Dr. Zakaria said the project’s strategic importance made the bank’s support essential.
“In view of the strategic importance of this initiative, and as a demonstration of our strong commitment to both the project and our valued partnership with the Ghana Armed Forces, we are pleased to announce one million cedis as seed funding,” he said.
Dr. Zakaria added that the bank was undergoing a structured transformation guided by its major shareholder, the government, and would as part of ongoing reforms float shares to strengthen its capital base.
The Managing Director also disclosed that the bank’s board has approved the establishment of a dedicated NIB PLC branch at Burma Camp before the end of the year, aiming to improve access to banking services for military personnel and enhance financial inclusion.
On the military side, Lieutenant General William Agyapong, Chief of Defence Staff, expressed appreciation for NIB’s support and praised the bank’s turnaround in recent years.
He said accommodation remains one of the major challenges confronting the Armed Forces, prompting discussions with the government that led to an agreement to deliver 10,000 housing units nationwide within the next five years.
To complement the government’s efforts, Lt. Gen. Agyapong said the military plans to add 250 additional housing units in Burman Camp as part of redevelopment housing project.
He revealed that a major launch and fundraising event for the project will be held on April 18, 2026, calling on corporate institutions to support the initiative.
He extended a formal invitation to NIB PLC to attend the launch.
During the brief ceremony, NIB’s management presented a citation to the Chief of Defence Staff in recognition of his leadership.
In return, Lt. Gen. Agyapong presented a military plaque to Dr. Zakaria for his role in ongoing reforms at the bank.
GNA
