Bright Simons questions appointment of parliamentary candidate as NIB Managing Director

Ghanaian

Bright Simons, the Vice President of IMANI Africa, has raised concerns regarding the appointment of a Parliamentary Candidate for the 2024 election as the Managing Director of the National Investment Bank (NIB), a state financial institution facing challenges.

Tweneboa Kodua Fokuo, the newly appointed MD of NIB, secured the position after emerging victorious in the New Patriotic Party's primary to

Read full articlerepresent the Manso Nkwanta Constituency in the Ashanti Region. His appointment, effective from May 13, 2024, replaces the outgoing MD, Samuel Sarpong.

Prior to his elevation, Fokuo served as the Deputy MD of the bank. The announcement of his appointment, made through a memo, emphasized continuity in the bank's restructuring and transformation efforts under his leadership.

However, Bright Simons criticized the decision, arguing that the dual responsibilities of political campaigning and managing a struggling national asset could potentially hinder effective leadership. In a social media post, he questioned the wisdom of appointing a Parliamentary aspirant instead of a turnaround specialist to address NIB's challenges.

Simons highlighted the bank's longstanding struggle with insufficient capital, suggesting that such a critical institution required focused leadership unencumbered by political obligations.

I am very curious to know what the @thebankofghana thought when they were informed & asked to approve a request that a VERY BUSY parliamentary aspirant for the ruling party should be the CEO of a struggling state-owned bank. ????

— Bright Simons (@BBSimons) May 11, 2024