By FORUM Business Editor,
The name of the popular and well liked philanthropist, Dr. Walton Ekundayo Gilpin is synonymous with banking in Sierra Leone and beyond. No one before the Managing Director of the Rokel Commercial Bank (RCBank) has made banking, their tailor made services and products for their customers and investors, especially for those previously excluded from banking so popular than the endearing and versatile Dr Gilpin. He made banking cool and an absolute necessity for the young, poor, rich and those previously excluded from the banking sector by designing services that meet the special needs of the people, trade, commerce, investments and businesses.
Dr Gilpin holds graduate degrees and professional qualifications in Economics, International Relations, Finance, Public Policy and Debt Management and is well-known for his profound contributions to the business world and the leadership role that he has played in several institutions in the academic, business, humanitarian and religious fields.
The Sierra Leonean financial don is a seasoned and internationally recognised financial expert with over 30 years of experience managing business houses, complex policies and processes in banking and banking-related institutions in Africa, Europe, South Pacific, Caribbean, and USA.
From his entrance into the banking industry, Dr Gilpin started holding high level positions of trust. He was an Economist at the Bank of Sierra Leone, then a Team Leader and Advisor to the Commonwealth Secretariat in the United Kingdom, where he served as an international civil servant leading in-country missions and managing significant financial initiatives that formed the basis of effective and sustainable reform strategies in more than 38 countries.
In this capacity, Dr. Walton Ekundayo Gilpin led technical and budget impacting missions that helped strengthen the technical and management capacity of business leaders, financial and banking sector professionals by emphasising approaches and skillsets that bode well for profit orientation, institutional transformation and enduring change.
Dr. Gilpin’s goal-oriented philosophy has been a critical hallmark of his career and this has benefitted many countries, particularly his home country, Sierra Leone in diverse ways – in leadership, business, finance, and private banking, education, humanitarian work, religion, as well as in public sector support. He has provided technical input into complex interactions with national and international players, such as the Bank of Sierra Leone, Ministry of Finance, International Monetary Fund, World Bank, Crown Agents, the United Nations Development Programme, to name but a few.
Dr. Gilpin has been instrumental in financial research analysis having worked in Research and International Financial Departments of reputable institutions. His capacity building skills were significantly useful in designing and implementing training modules in financial analysis for public sector officials in government and private sector. But most notably Dr. Gilpin played a significant role on the deliberations on the Pan African Payment and Settlement System (PAPSS) to ensure that this innovative system gains commercial traction as well as better appreciated and adopted by banks and customers across the continent.
In private practice, Dr. Gilpin has served as a profit-oriented result-based consultant in public finance, risk management, liquidity management, bank-sovereign analysis, fiscal risk and financial programming.
Furthermore, Dr. Gilpin contributed to critical thinking and intellectual development in Sierra Leone’s banking, public finance and social sector through proactive work, reports and publications. His commitment to capacity building is to mentorship and professional development in Sierra Leone. He is also a motivational speaker and Ambassador for several initiatives to develop young adults and professionals.
Dr. Gilpin continues to be a modern-day inspiration for Sierra Leone in particular and Africa in general. His contribution to leadership and capacity building through the educational TV programme, Economic Forum and humanitarian work has not gone unnoticed. Dr. Gilpin has been working towards breaking the vicious cycle of debt and deficit by taking a proactive and scientific approach to banking and finance in Sierra Leone and proving a leadership role through this effort.
Dr Gilpin has won many awards since heading the RCBank and makes salient contributions to the socioeconomic development of the country. At the end of the West African Bankers Association (WABA)’s 78th Executive Council Meeting and 42nd General Assembly, they unanimously elected Dr Gilpin as Vice President II of the association. The twin event, held in Sierra Leone at the Freetown International Conference Centre, Aberdeen was hosted by the WABA Secretariat in collaboration with the Sierra Leone Association of Commercial Banks.
Gilpin was nominated by WABA’s Vice President I, Dele Alabi from Nigeria and two Former WABA Secretary Generals – Alie Ceesay from the Gambia and Hanson Abosi from Nigeria. Their nomination was endorsed by the Registrar/Chief Executive Officer, Akin Morakinyo from the Chartered Institute of Bankers of Nigeria (CIBN). The two-day event featured presentations on Cross Border Settlement Systems, International Financial Reporting Standards, Risk Management Technology adoption, annual financial report, audit reports and subscriptions.
At a recent engagement in Maryland, USA, the Sierra Leone Association of Artists and Musicians (SLAAM) honoured the RCBank MD for his leadership and humanitarian work. The SLAAM Life Time Achievement Awards which is by far the biggest and most prestigious organised by any Sierra Leonean group in the diaspora was established to celebrate individuals who have made exceptional contributions to the growth and development of the motherland. Dr Gilpin was recognised for his outstanding leadership in the financial sector as well as his humanitarian work back home.
Gilpin’s work as a banker has been evident in the unprecedented transformation of a Sierra Leonean bank which nearly collapsed until a significant bailout package from the government of Sierra Leone. Today, after an ambitious restructuring programme launched by a new management headed by the erudite MD, the Rokel Commercial Bank stands as testament to his managerial brilliance and innovative acumen. Perhaps, more profound has been Gilpin’s commitment to serve humanity by interspersing his professional life with philanthropy through his Gilo Educational and Economic Development (GEED) Foundation. The foundation has made significant contributions towards women and girls empowerment.
Formally receiving the award, Dr Walton Ekundayo Gilpin said he was filled with a profound sense of humility to be recognised by people of talent in the diaspora and dedicated the award to his team at Rokel Commercial Bank, President Julius Maada Bio and people of Sierra Leone. He went biblical when he referenced the story of Joseph in the Bible who despite the enormous challenges and persecutions he faced from his adversaries decided to work diligently to ensure the grace of God did not depart from him.
When fire broke out in a female hostel at the University of Makeni-UNIMAK’s Yoni Campus located on the outskirts of Makeni – completely destroying large parts of the building as well as valuable student’s possessions leaving over 60 female students traumatised and with very little or nothing for their basic upkeep, in response to the Students’ Union Government plea for emergency assistance, Gilpin’s GEED Foundation (Gilo Education and Economic Development Foundation) made a modest donation that was described by the Registrar of the University, Foday Augustine Bangura as very timely.
As Dr Gilpin makes his exit from the banking sector there is hope that he will be incorporated into helping the government of Sierra Leone with his broad expertise. Among other programmes at the RCBank aimed at financial inclusion the bank introduced electronic banking, FINTECH packages, Sim Korpor, Kekeh Loan, Kombra Account, SME Loans, Internet Banking, and decentralising the bank’s services to the interior.
“Gilpin made banking attractive. Before him bank MDs were seen as aloof, afraid of mixing with the grassroots. But Gilpin is a socialite. He used the media in ways that no one before him had and so brought a lot of attention to the banking sector. His philanthropy, his many awards, his public and private lectures, and all the programmes aimed at bringing or including people that were previously excluded from the banking sector have made saving money in banks a safer option than keeping the money at home. He has set a very high bar for whoever will succeed him at Rokel Commercial Bank,” said a former colleague at the Central Bank.
The consummate Sierra Leonean banker also doubles as President of the Sierra Leone Association of Commercial Banks.
