Mohamed Alhajie Samoura, President of the Sierra Leone Association of Commercial Banks (SLACB) and the MD/CEO UBA Sierra Leone, organised a strategic meeting Thursday 10th April, 2025 at UBA Headquarters in Freetown, with key representatives from UN Women and the Africa Solidarity Fund (ASF).
Attendees included Setcheme Jeronime M. Mongbo, UN Women Country Head in Sierra Leone; Aly Guindo, ASF Country Manager; Mame Khary Diene, UN Women International Consultant; and Mohamed Kargbo, UN Women Communications Officer.
The meeting aimed to explore banking sector opportunities in Sierra Leone and identify financial products and services to empower women and youth in both private and public sectors.
Aly Guindo highlighted ASF’s guarantee products designed to support commercial banks and businesses in sectors like mining, energy, and construction. He stated, “Sierra Leone’s membership in ASF opens access to funding opportunities aligned with government and central bank credit guidelines.”
ASF currently operates in 23 member states with over $300 million in capital as of 2024. The organization provides services such as bank loan guarantees, import-export financing, refinancing, interest rate subsidies, and third-party fund management to fuel economic growth across Africa.
The President of (SLACB), Mohamed Samoura, addressed challenges faced by Sierra Leone’s banking sector, including high interest rates and loan recovery risks.
He emphasized the potential value of ASF’s intervention: “ASF’s guarantee package can support banks, individuals, and corporations in key business investments.”
The meeting concluded with optimism for collaboration between UBA Sierra Leone, the Sierra Leone Association of Commercial Banks, UN Women, and ASF to drive impactful business outcomes for women empowerment and youth for broader economic development in Sierra Leone.
