By: Aaron Parker
The Western African Bankers’ Association (WABA) collaborates with the Sierra Leone Association of Commercial Banks (SLACB) and convened pivotal training session on the 4 and 5 of July, 2024 at the D’Bim D’Bam Hall at Wellington Street Freetown. The two day capacity development programme was aimed at bolstering banking operations across the West African sub-region. The training brought together senior officials from commercial banks who took part in the initiative that will go a long way in elevating banking standards and fortify economic efficiency while mitigating risks.
Alhajie Jeng, Secretary General of WABA, highlighted the seminar’s objective in his welcome address. He emphasized its role in equipping bankers with cutting-edge tools and insights essential for delivering superior customer service.
“The purpose of this seminar is to upgrade the standard of banking practices, providing bankers with the latest tools and economic efficiency to mitigate risks and offer superior service to customers,” he affirmed.
Hilton Jarret, Chief Director of Financial Stability at the Bank of Sierra Leone, delivered the keynote address, underscoring the transformative role of banks in national economies. He stressed the evolution of banking from traditional transactions to sophisticated financial activities such as investments, foreign exchange trading, and digital innovations. “As bankers striving for excellence, we must prioritize customer satisfaction, develop customer-centric products, and maintain clear communication,” he asserted.
The Guest Speaker for the Training Ceremony, Dr. Walton E. Gilpin, President of SLACB, stated: “Banks have a key role to play in ensuring the heart of the economy continues to beat, adding that Bankers need to understand the metrics, ratios, and the essence of banking itself.
They cannot remain static with traditional procedures but must innovate; embracing Digital Banking. Other essential factors for bankers to grasp include financial discipline, efficiency, account policies, and the broader economic impact of banks.
Dr. Gilpin emphasized the imminent growth of Digital Commercial Banking, underscoring its reliance on technology to harness its benefits and propel banking into the future, ensuring widespread accessibility across the country.
He stressed the necessity for bankers to enhance their competencies to align with 21st– century banking innovations. He urged them to consider variables that sustain a vibrant economy and meet the expectations of a digitally-driven 21st– century society.
The Executive Secretary of SLACB Madam Shola Taylor-Pearce in her statement commented on the vision of WABA; as WABA is envisioned to become the leading regional banking association in Africa by 2030, as it will continue to promote good governance, harmonize professional practices, and drive economic growth across ECOWAS member states. She deliberated on the importance of Operational Excellence in banking and encouraged participants from the different banks to build on their competencies on the subject matter.
The Training sessions featured two seasoned bankers; one from the Bank of Sierra Leone (Mr. Philip Bangura – Director) and the other from Rokel Commercial Bank Sierra Leone Limited (Mrs. Millicent Cole – Risk Director) as training facilitators.
Established in 1981 under the Economic Community of West African States (ECOWAS), WABA aims to promote regional economic and monetary integration. The association, now primarily supported by commercial banks, operates with a focus on solidarity, openness, and scalability. The WABA Secretariat in Freetown serves as a hub for fostering regional cooperation, professional development, and advocacy within the banking sector.
