The National Provident Fund, NPF board, is seriously evaluating the possibility of opening an investment bank for its members.
Talking to members of the media on future investments, NPF Board Chairman Baoro Laxton Koraua says his board has been carrying out feasibility studies on this for nearly two years and convinced there is a market for such an investment.
“This investment bank is partly in answer to our member’s need to borrow money for various reasons, whether it is for a new homes, for investment, lifestyle improvement, school fees, medical attention. Instead of getting the fund, the NPF to finance all that, we will actually set up with the Central Bank’s approval an investment bank will allow our members to borrow and we will guarantee to the value of membership contributions to a certain portion of membership contributions.”
Mr Koraua adds, another consideration is a Mini-Capital Market.
He explains, this is a strategy where NPF can offer parts of its successful companies on a mini stock market.