NIB PLC and GNPC Re-establishes and Strengthens collaboration to Drive Economic Growth

National Investment Bank PLC (NIB) paid an official visit to the Ghana National Petroleum Corporation (GNPC) on March 19, 2025, with the aim of revitalizing the relationship between the two institutions and exploring financial partnerships to support GNPC’s operations and projects.

The meeting brought together key representatives from both organizations. The GNPC team was led by CEO Mr. Kwame Ntow Amoah, alongside Mr. Shooter, Head of Finance, and Mr. Vincent Kofi Sunu-Attah, Technical Advisor. NIB was represented by its Managing Director, Chief Dr. Doli-Wura Zakaria, and a distinguished team, including Aba Katu, Head of Excel Banking; Henrietta Kwakye, Head of Legal; Linda Akyaa Afrani, Board Secretary; Marian Toure, Head of Marketing and Corporate Communications; Mr. Samuel Appiah Danquah, Branch Manager, Tema Main; and Ramat Ebella Whajah, Zonal Head for Accra-Tema.

Discussions and Key Areas of Collaboration

Chief Dr. Zakaria initiated the discussions by reaffirming NIB’s mandate to support businesses, industries, and state-owned enterprises. He emphasized the government’s commitment to recapitalizing NIB, strengthening its capacity to serve as a reliable financial partner for institutions like GNPC.

In response, GNPC CEO, Mr. Amoah, acknowledged the longstanding relationship between GNPC and NIB and expressed optimism about revitalizing and strengthening their collaboration. He identified several key areas where GNPC required financial support, including:

a Gas Pipeline Project where they needed financing for the construction of a gas pipeline in Tema; Facility Refinancing which involved reviewing and possibly refinancing an existing loan to optimize costs and efficiency and Housing Financing for the development flats for GNPC staff among others.

These initiatives, among others, were identified as critical to GNPC’s operational and financial growth.

Actionable Steps and Follow-Ups

 To advance this partnership, both parties agreed on key action steps. A joint committee will be formed to review GNPC’s loan facility with other financial institutions. The findings from this review will serve as the foundation for developing a detailed proposal with recommendations on the best path forward.

Additionally, NIB will assign a dedicated relationship manager to provide customized financial support to GNPC. To ensure continuous progress, periodic follow-up meetings will be scheduled to track developments and address any emerging issues.

Commitment to Strengthening Ties

In his concluding remarks, Mr. Amoah reiterated GNPC’s commitment to rebuilding its relationship with NIB. He emphasized the importance of collaboration between state institutions under the theme “RESET AND RESTORE.”

Chief Dr. Zakaria assured GNPC of NIB’s unwavering support in providing innovative financial solutions to facilitate its operations and expansion plans.

This renewed partnership marks a significant step towards leveraging local banking solutions to enhance the efficiency and growth of Ghana’s energy sector, ensuring sustainable development and economic progress for the nation.