New National Development Bank should stick to its mandate – SDD-UBIDS lecturer
Senior Lecturer at the Simon Diedong Dombo University of Business and Integrated Development Studies (SDD-UBIDS) School of Business, Dr. Joseph Derry Nyeadi has urged government to ensure that the National Development Bank stick to its core mandate.
He said this in an interview with Info Radio at the sidelines of a public lecture delivered by Finance Professor, Prof Joshua Yindenaba Abor, former Dean of the University of Ghana Business School (UGBS) at the Simon Diedong Dombo University of Business and Integrated Development Studies (SDD-UBIDS), Wa.
The Banking and Finance Lecturer said previous established development banks such as the Agricultural Development Bank (ADB) and the National Investment Bank (NIB) seem to have outgone on their mandates by operating as commercial banks.
He also counseled the government not to politicize the operation of the National Development Bank which he said is likely to take a bite.
Government says the new development bank is a key pillar in the country’s efforts to quickly recover from the effects of the COVID-19 pandemic and quickly resume the economic transformation path as articulated in the Ghana CARES/Obantanpa Programme.
It is also set up to address two important constraints in the financial system, namely the lack of long-term funding, and the lack of adequate funding to the productive sectors of the Ghanaian economy.