By Edward Vamboi
In order to celebrate banking excellence in Sierra Leone, the Sierra Leone Bankers Association and the African Achievers Award Association in partnership with the Government of Sierra Leone and other institutions convened a Press Conference at the Hill Valley Hotel on the 27th February 2020 to officially launch the Sierra Leone Bankers Conference & Awards -2020.
In his address, the Chief Executive Officer (CEO) of the Association, Dr. Alex Bangura disclosed that the banking system plays significant roles in the modern economic world. He underscored that it is indeed safe to save monies in banks maintaining that such savings could be utilized to produce capital for investments.
He further disclosed that banks contribute significantly to national growth processes stating that the Sierra Leone Bankers Conference and Awards will be hosted for the first time in Sierra Leone on the theme: “Sustaining the Sierra Leone Banking Sector in a Competitive Market for Economic Growth”.
He explained that they will be discussing pertinent issues that are relevant to the sound operations of the banking sector in Sierra Leone in relation to the business landscape as a way to promote economic transformation and growth.
The CEO noted that there is the need for more enhanced financial technology in Sierra Leone to combat financial terrorism and money laundering.
He said the award ceremony will be held to celebrate banking excellence, to raise awareness on issues relating to the financial sector, marketing, research, development and innovation.
He disclosed that the award ceremony will be based on success stories, best practices and how key challenges facing the Sierra Leone banking sector in the global market were tackled.
He said that during the award ceremony banking executives will be honored for their tremendous contributions towards the development of the banking and financial sectors and how they relate to the development of the country.
Dr. Alex Bangura said the Sierra Leone banking sector plays a crucial role in the economy of Sierra Leone, saying it is estimated that the sector excluding the Government of Sierra Leone provides more than 60% of the workforce of the country and contribute significantly to the Gross Domestic Product (GDP) of the economy.
“The sector is the heart that pumps the economic blood to the vital organs of the Sierra Leone’s economy,” he furthered adding that the sector promotes wealth and prosperity in the country adding that the SLBA in partnership with the Sierra Leone Government and other institutions in the private sector introduced the 2020 Sierra Leone Bankers Conference and Awards.
He said the rationale behind the initiative is to identify and recognize performing bankers in the country, saying the award ceremony will showcase the country’s most outstanding Sierra Leone bankers and financial institutions.
He maintained that the winners will be awarded and such will be based on the principles of fairness, trust, credibility and transparency.
According to the Country Head of Blue Crest College, Dr. Shailesh Kumar the initiatives will help to improve the banking sector in the country.
Momoh Vandy extended thanks and appreciation for the initiatives saying it is a way of showing appreciation and recognition which will definitely motivate financial institutions to do better.
He finally suggested that Government should encourage financial institutions to support the initiatives. He also said that t as Board Members they will do everything possible to make the forth coming conference and award ceremony a success.
