Appointment of managing director for NDB stalled

By EMMANUEL MAIPE
THE appointment of a new managing director for the National Development Bank (NDB) has been put on hold due to a recent ministerial directive.
NDB’s acting managing director Moses Liu told The National yesterday that due to the recent directive given by Minister for Agriculture and Livestock Tommy Tomscoll to the bank to provide a full briefing on its performance on various specific matters, progress on the appointment of a new managing director had stalled.
The bank’s external recruitment consultant has already provided the short-listed candidates to the board selection committee for interview.
Liu said the NDB board would then recommend three candidates from the list for approval by the National Executive Council through the minister responsible, but that process was currently on hold.
“NDB hopes that the hold on the appointment of the managing director will be lifted soon so that an appointment can be made as soon as possible,” he said.
Liu said the appointment has to be made soon so that the new managing director could be mandated to take effective control and manage the ongoing operations of the bank.
These tasks included archiving its strategic objectives and work plans for the year, which included the process to acquire a micro bank licence from the Central Bank and the upgrading of three new NDB branch buildings in the country.      
Former managing director Richard Maru resigned earlier this year to contest the Yangoru-Saussia seat in the national elections and is now minister for Trade and Industry.