Minister for State Enterprises, William Duma, CMG, MP, has refuted misleading opposition claims relating to equity raising in National Bank Corporation Limited (NBCL). “The Opposition was complaining that there was not enough private equity in the bank, and they have now been proven wrong,” Minister Duma noted. “The Government continues to dilute its stake as a condition precedent to the issue of the banking licence. “The issuance of shares by way of equity is the common and legal practice for banks, and is aligned with the interest of all shareholders to grow the company. “Competition in the banking sector will deliver strong positive economic benefits for our people and our country.”