By: Joseph Bangali
There is no denying that the Rokel Commercial Bank is presently the most rapidly growing bank in Sierra Leone whose major shareholder is the Government of Sierra Leone. This was again demonstrated on Friday, 26 February, 2021 when it opened its first ever branch in the Juba Hill Community in the Western Area of Sierra Leone. This is just a few months after opening another branch along Wilkinson Road in Freetown.
Present at this auspicious gathering were the Deputy Bank Governor of the Bank of Sierra Leone Mr. Alhaji Sesay, Chairman of the Board of RCB, Mr. Buffy Bailor, the astute and dynamic Managing Director, Dr. Walton Gilpin, and Mr. Charles Conteh who represented the Minister of Finance. A host of dignitaries from various organizations including the CEO of Heritage Group, Commissioner Robert Kondema Kargbo, senior management and staff of the Bank, and representatives from the community which included market women, bike riders and customers of the bank. The master of ceremonies of this august occasion Mr. George Spilsbury-Williams lauded the achievements of the bank and this he said was the reason that RCB was opening branches all over the country in quick succession. In his remarks, the representative from the Ministry of Finance, Mr. Charles Conteh congratulated the bank on its rapid expansion. He noted that the government of Sierra Leone was clearly impressed with RCB for realizing over Ninety Billion Leones in profits in 2020 as opposed to just 1.5 Billion Leones in 2015. He encouraged management and staff of the bank to be mindful of the recent remarks of His Excellency President Julius Maada Bio when he recently opened a branch of the Union trust Bank in Tonkolili District. That extending banking facilities to all and sundry around the country helps to improve the human development index. He further assured that the government was working assiduously towards completing the installation of the fiber optic network to enhance increased internet connectivity in order to digitize the banking industry. He expressed gratitude to the board, management and staff for their resilience and determination to move the bank forward and assured all that government will continue to roll out policies that will greatly improve banking conditions in the country.
The dynamic and energetic Managing Director Dr. Walton Gilpin in his usual firebrand manner thanked government profusely for creating the
enabling environment to demonstrate their knowledge and skills in the banking industry and reaffirmed that under his leadership RCB is poised to be the number one bank in Sierra Leone as it is wholly Sierra Leonean owned and managed. RCB is not intimidated by the presence of over ten foreign banks operating in the country. As far as he was concerned, this is our country and no one can come here and excel more than we the citizens in this industry excel. The bank is moving towards complete digitization and cashless banking in line with modern trends in the world. Dr. Gilpin concluded by asking residents of the Juba Hill community and its environs to take ownership of the bank in their community. The representative of the Governor of the Bank of Sierra Leone, Deputy Bank Governor Mr. Alhaji Sesay commended the management of the bank for its rapid growth and expansion. He noted that less than three months ago a branch of RCB has opened along Wilkinson road, and was therefore pleasantly surprised that another branch was being opened at such a strategic location as Juba Hill. Mr. Sesay confirmed that the Bank of Sierra Leone regulated the financial system in Sierra Leone. There are 13 commercial banks with 120 branches, 13 branches are operated by RCB, operating all across the country. Their role also is to stimulate the economy by providing financial services and loans to these institutions. He informed the audience that a Financial Regulation Secretariat is currently working on consumer protection guidelines that will adequately protect customers and this will soon be followed by the introduction of a deposit insurance scheme. Mr. Sesay reminded all that in order to avoid stagnation and limit access to capital for customers, outstanding loans must be paid back on time. He asked that the people of Juba take full advantage of the opportunities presented by the opening of this branch and be part of the digitization process.
The Chairman of the board of RCB, Mr. Buffy Bailor informed the gathering that the main partner of the bank is the government of Sierra Leone with whom they have enjoyed a fruitful relationship over the years. He admonished the branch manager to work very hard to maximize profits at this branch, as it was located in an affluent community. The manager of the new branch Mrs. Rita Macaulay thanked all for taking time off their busy schedules to grace the occasion and thanked God almighty for making the program a huge success. She also thanked the media, security personnel, market women and bike riders for their presence and encouraged them to be outstanding customers of the bank. To her MD and senior management she expressed gratitude for the confidence reposed in her and promised to use her 30 years’ experience working for RCB to move this branch forward.
The Chairman of the board, Mr. Bailor, officially opened the bank and refreshments and music followed this.