Accra: 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.
According to Ghana News Agency, 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.' He acknowledged the Armed Forces' confidence in the bank during its restructuring years as a demonstration of institutional loyalty and trust.
Announcing the seed funding for the military's housing initiative, Dr. Zakaria emphasized the strategic importance of the project, declaring the bank's support as essential. He further mentioned that the bank is undergoing a structured transformation guided by its major shareholder, the government, with plans to float shares to strengthen its capital base.
Additionally, Dr. Zakaria disclosed that the bank's board has approved the establishment of a dedicated NIB PLC branch at Burma Camp by the end of the year. This move aims 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 highlighted accommodation as a major challenge for the Armed Forces, leading to discussions with the government to deliver 10,000 housing units nationwide within the next five years.
To complement the government's efforts, Lt. Gen. Agyapong announced plans to add 250 additional housing units in Burma Camp as part of the redevelopment project. He revealed that a major launch and fundraising event for the project will be held on April 18, 2026, and called on corporate institutions to support the initiative, extending 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, while Lt. Gen. Agyapong presented a military plaque to Dr. Zakaria for his role in ongoing reforms at the bank.