The RCBank Prepaid Card is designed to enable Sierra Leoneans in the diaspora and at home to make purchases online, withdraw cash at an ATM, and pay for goods and services safely and conveniently from anywhere in the world.
With the RCBank Prepaid Card, you can fund, budget, withdraw at any ATM, and spend safely.
The card is available for both RCBank and non-RCBank customers. This means you can access the prepaid card and load it to avoid handling cash on your next trip. It is acceptable on international POS or ATM.
The card is:
Great for budgeting and controlling your spending
For RCBank and Non-RCBank Customers
Reloadable and not linked to any account
Usable on ATM, POS, and online anywhere in the world
Great for gifting to your loved ones
Able to generate mini-statements
Enjoying unrivalled protection with 3D security for online transactions
Home Remittance
Transferring money home for your family occasionally or regularly? The RCBank Prepaid can provide safe and secure home remittances when registered on the RCBank Simkorpor App.
How to Start Using The RCBank Prepaid Card
The RCBank Prepaid Card is not linked to your regular savings or current account at the Bank. It gives you the flexibility to spend only when it has been loaded on the card and saves you the risk of exposing too much money online. The Prepaid Card is specifically helpful if you are trying to stick to a budget or if you are trying to avoid overspending.
With over two hundred Agency Operating Points, 17 Branches and several Outlets in Sierra Leone; Rokel Commercial Bank has an ever-expanding network and correspondent banks worldwide, rest assured that RCBank will get your money into the hands of those closest to you, no matter how far they are.
Guaranty Trust Bank (GTBank) Sierra Leone has presented prizes to 32 lucky winners in its ‘Kip for D Bambai’ reloaded promotion. The winners were selected through a raffle draw for August and September, and they received gift prizes including bags of rice and cooking oil.
The presentation ceremony On Friday, October 17 was attended by bank executives, staff members, and the winners. The prizes were distributed to winners residing in both Freetown and various provincial areas of the country.
One of the winners, Joseph Fofanah, expressed his gratitude and initial skepticism when he received the call from GTBank informing him of his win. He initially believed it was a fraudulent attempt but later confirmed the authenticity of the call with a bank staff member. Fofanah encouraged other customers to continue banking with GTBank to benefit from its many offerings.
Another winner, Memunatu Dumbuya, shared a similar experience of disbelief when she received the winning call. She initially ignored the call but later followed up and confirmed her win. Dumbuya expressed her excitement and gratitude for the opportunity.
Victor Cleveland, Head of Retail Banking, explained that the ‘Kip for D Bambai’ raffle is designed to reward customers who make a minimum deposit of NLE 250. He encouraged customers with dormant accounts to activate them and non-customers to open new accounts to participate in future draws.
Cleveland also highlighted the rationale behind providing cooking condiments instead of cash prizes. He explained that the aim was to alleviate the burden of rising prices in the market and provide essential items for customers.
The ‘Kip for D Bambai’ Reloaded promotion is a six-month Deposit and Win campaign running until December 2024. A grand draw in January 2025 will award four motorbikes to lucky customers.
Guaranty Trust Bank (GTBank) Sierra Leone celebrated Customer Service Week from October 14th to 18th with a variety of activities designed to honor and appreciate its valued customers.
The week-long event showcased the bank’s commitment to providing exceptional service and building strong relationships within the community.
The celebration kicked off with a Career Day, where staff members dressed in attire representing various professions symbolizing the deep connection between the bank and its diverse clientele. On Tuesday, staff members wore the national Green White and Blue colors of Sierra Leone to express their patriotism and solidarity with the country.
The Product Showcase Day featured staff members dressed in T-shirts showcasing the bank’s innovative products and services, including 9737, GTWorld, Salary Loan, Mastercard, Smart Kids Save (SKS), and more. This event allowed customers to learn about the various banking solutions offered by GTBank and how they can benefit from them.
Thursday brought back the nostalgia of the 80s with staff members sporting iconic fashion trends of the era. This fun-filled event provided a lighthearted atmosphere and a chance for customers to reminisce about the past.
The week culminated with a Traditional Day, where staff members dressed in traditional attire to celebrate the rich cultural heritage of Sierra Leone. This event highlighted the importance of preserving and promoting the country’s cultural diversity.
As a grand finale, GTBank held a Dip and Win draw where 30 customers won exciting prizes, including mugs and keyholders. This gesture was a token of appreciation for the bank’s customers and a way to show that their loyalty and support are valued.
Ade Adebiyi, the Managing Director of GTBank Sierra Leone, expressed his gratitude to the bank’s customers for their continued trust and support. “We take customer satisfaction as our No. 1 priority,” he said. “We continue to develop products and services that make banking convenient and enjoyable for our customers.”
The 2024 celebration of Customer Service Week demonstrates GTBank’s dedication to providing exceptional service and building lasting relationships with its customers.
Chief Minister Dr. David Sengeh on Monday lauded the newly refurbished Government Printing Department, hailing it as a prime example of a successful Public Private Partnership (PPP).
The surprise visit was made alongside the Ministers of Information and Civic Education.
Taking to his X page (formerly Twitter), Dr. Sengeh highlighted the positive outcomes of the refurbishment, stating, “This is an excellent example of what a good Public Private Partnership can look like.” He further explained that the project followed a build, operate, and transfer model, which initially involved private sector participation but is now fully managed by the Government of Sierra Leone.
The renovation of the Government Printing Department is expected to enhance the quality and efficiency of official publications and document production in the country. The printing press, which had been in dire need of modernization, now boasts state-of-the-art equipment and is geared toward improving service delivery for public sector needs.
The visit underlines the government’s commitment to revitalizing critical infrastructure through innovative partnerships and investment in key sectors. The Chief Minister’s praise for the project reflects broader government efforts to strengthen the country’s administrative capacities while fostering economic collaboration with the private sector.
The refurbishment is expected to streamline operations at the printing press, which plays a vital role in producing government documents, official notices, and educational materials. By adopting the build, operate, and transfer model, the government successfully leveraged private sector expertise in the initial phases, ensuring the sustainability of the project.
This development is seen as a significant step toward achieving efficiency in public service delivery, with the facility now fully under government control.
Rokel Commercial Bank, in partnership with Fanta’s Kitchen Catering Services and Afrigas, successfully staged the biggest ever cooking competition facilitated by an indigenous bank on October 12th, 2024, at the Family Kingdom Complex, Aberdeen, Freetown.
The bank, known for its trailblazing initiatives and implementation of innovative strategies, continues to set the pace in aligning with regulatory standards to meet the requirements of Sierra Leone.
The event was hosted by Fanta’s Kitchen, one of the leading catering service organizations in Sierra Leone, which has proudly represented the country in both local and international cooking competitions.
Fanta Fofanah, the CEO of Fanta’s Kitchen, is a renowned entrepreneur in the catering industry, working closely with institutions across Sierra Leone, with aspirations of gaining wider recognition in Africa and globally.
Rokel Commercial Bank Sierra Leone Ltd. has long been partnering with various organizations to fulfill its Corporate Social Responsibility (CSR) commitments. The theme for this competition, “Impacting Young Entrepreneurs,” aligns with the overarching theme of the bank’s 25th anniversary, “Taking Banking to the Grassroots.” This recent initiative builds on other partnerships and collaborations, including:
Equity and I&M Banks in Rwanda (July 2024) for cross-border transactions,
EST Applied Intelligence (February 2024) for cybersecurity and financial inclusion,
National Scrabble Association Sierra Leone (August 2023) for promoting scrabble in schools,
Institute of Public Administration and Management (IPAM) (January 2022) for a Banking & Finance seminar,
Afrimoney (November 2022) for quality service provision,
Orange Sierra Leone (March 2021) to facilitate mobile money and banking transactions, and
Keeping Hope Alive (2019) to address climate sustainability and tree maintenance.
The cooking competition, organized in collaboration with Fanta’s Kitchen and Afrigas, featured a panel of esteemed judges, including Naasu Fofanah (CEO of Susue Pemehun), Vivian Samuel Coker (CEO of Sam’s Brother’s Investment), and Mrs. Hawa Alpha of Prosgil Delicious.
Contestants hailed from various vocational institutes, including the Young Women’s Christian Association (YWCA), Useful Hands Vocational Institute, Women’s Vocational Center (Ormamy), Winning Center, and Murialdo. Other catering institutions, such as REAPS and CEFORD Vocational Center, were also present to witness the competition.
Useful Hands Vocational Institute from Wellington emerged as the winner, receiving a cash prize of Le10,000. The second position was clinched by Winning Center Vocational Institute from Murray Town, which received Le7,000, while the third-place winner received Le5,000. The contestants who finished in fourth and fifth place were awarded consolation prizes.
At the conclusion of the event, the Managing Director & CEO of Rokel Commercial Bank, Dr. Ekundayo W. Gilpin, congratulated the participants and acknowledged the contributions of the bank’s staff, the judges, and representatives from partnering institutions. He praised the collaboration with Fanta’s Kitchen and Afrigas for their role in making the event a success.
Dr. Gilpin highlighted that the competition demonstrated RCBank’s commitment to empowering young entrepreneurs by providing them with a platform to showcase their skills. This initiative, he noted, is aimed at preparing them for both local and international business challenges, ensuring they remain competitive in an ever-evolving market.
The Bank of Sierra Leone has approved the Rokel Commercial Bank Statements of Account – revealing a staggering NLE191, 627, 038 (One Hundred and Ninety-One Million, Six Hundred and Twenty Thousand and Thirty-Eight Cents) for the 2023 Financial Year.
Profit after tax is Nle142,802,319, eclipsing the NLe69,48,024 the previous year.
This significant achievement represents a 104% increase from the NLe94 Million recorded in 2022. Consequently, customer deposits rose to NLe2.9Billion indicating a 25% increase from NLe 2.35Billion recorded in 2022.
The growth in deposits has triggered a significant growth in the bank’s balance sheet from NLe3.2Billion in 2022 to NLe3.8Billion in 2023 representing a 18.75% increase respectively. Total earnings per share also grew from NLe0.76 per share (2022) to NLe1.56 per share (2023).
In September this year, the RCBank Celebrated its 25th Anniversary after a smooth transition from Barclays Bank Plc in 1999 which had operated the bank for nearly a century.
The celebrations were marked by several indoor and outdoor activities including Christian and Muslim thanksgiving services and a special event to recognizing staff who have had 15 to 35 years of unbroken record of service.
In each of these events, the Managing Director, Dr Walton Ekundayo Gilpin re-echoed a renewed sense of hope and commitment in expanding and making Rokel Commercial Bank a dominant force in the subregional finance industry.
The United Kingdom Government, through its development finance institution, British International Investment (BII) has announced a $25 million risk-sharing facility with Ecobank Sierra Leone to stimulate private sector growth in high-impact sectors of the economy.
The facility, which includes a comprehensive technical assistance program, will support Ecobank in increasing lending to ambitious businesses in this frontier market.
The private sector plays a crucial role in Sierra Leone’s economy, primarily through small and medium-sized enterprises (SMEs) that employ around 70% of the population. However, these businesses often struggle to access capital due to various factors, including limited financial products, high collateral requirements, and short-term loan tenors.
The new facility will support local currency lending, demonstrating BII’s ability to act as a first mover in frontier markets. By increasing credit limits and extending loan tenors, the investment will help Ecobank Sierra Leone grow its loan book and boost business growth, job creation, and private sector contribution to the economy.
This transaction marks a significant milestone as the first investment under the Africa Resilience Investment Accelerator (ARIA), a collaborative initiative launched by BII and FMO, the Dutch entrepreneurial development bank. ARIA aims to boost investment in frontier markets like Sierra Leone.
The Sierra Leone economy faces challenges including a depreciating currency, a large trade deficit, and insufficient infrastructure investment. BII’s investment targets critical sectors such as renewable energy, agriculture, agro-processing, infrastructure, and manufacturing to spur economic growth and development.
UK Minister for Development, Anneliese Dodds, expressed her delight at the partnership, stating that it will support local currency lending, bring much-needed capital into high-impact sectors, and contribute to job creation and economic growth.
Samir Abhyankar, MD and Head of Financial Services at BII, highlighted the facility’s potential to be a game-changer for Sierra Leone, providing much-needed capital for local businesses to accelerate their growth, spur job creation, and deepen impact.
Sebastian Ashong-Katai, Managing Director of Ecobank Sierra Leone, expressed his enthusiasm for the partnership, emphasizing its importance in boosting Ecobank’s lending capacity and supporting Sierra Leone businesses.
Alex Kucharski, BII’s Head of West Africa for ARIA, added that ARIA aims to unlock investment in Sierra Leone and that the investment in Ecobank Sierra Leone will bring much-needed growth capital to underserved businesses in the country.
The Bank of Sierra Leone has on the 4th of October, 2024 released the official foreign exchange rate in the country.
The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.
In the week from September 30 to October 4, 2024, the US dollar experienced notable gains against both the British pound and the euro, marking a significant shift in the foreign exchange market.
The Central Bank’s disclosed rates are as follows:
Pounds Sterling: Buy at Le 30.2348, Sell at Le 29.9318
U.S. Dollars: Buy at Le 22.7415, Sell at Le 22.5153
Euro: Buy at Le 25.1831, Sell at Le 24.9328
Meanwhile, in the unofficial market, the US dollar settled at Le25 (Buying) and Le24.2 (Selling) on Monday, October 7, 2024. This is according to parallel market operators in Central Freetown and Lungi.
NOTE: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.
Guaranty Trust Bank (GTBank) and Catholic Agency for Overseas Development (CAFOD) have successfully concluded their three-year collaboration as part of the Women and Girls FIRST financial inclusion project, funded by Jersey Overseas Aid (JOA).
This initiative has made significant strides in Kenema, Port Loko, and Kambia districts, recruiting 150 “Financial Champions” from project project Village Savings and Loans Associations (VSLAs).
These champions have been registered and trained as GTBank mobile banking agents to support remote communities across eight chiefdoms, boosting financial inclusion.
The Women and Girls FIRST project aims to improve financial access and resilience for women and girls in these regions.
In a significant move that reinforces its leadership in Sierra Leone’s telecommunications sector, Orange Sierra Leone officially launched its new brand logo and identity under the slogan, “Orange is Here,” on Monday, September 30, 2024.
This fresh identity, also translated into the local Krio as “Orange dae ya,” highlights the company’s unwavering commitment to being a reliable and ever-present partner to its customers. The unveiling event took place at Orange SL’s headquarters on Hill Station, drawing key stakeholders from across the country.
Philip Emeh, Orange SL’s Head of Communications, Brand, and Sponsorship, shed light on the importance of this rebranding effort. He emphasized the power of perception in shaping a company’s image and building trust with its customers. “Our brand signature and how we are perceived as a company are fundamental to our success,” Emeh stated. “When customers see us as caring, responsible, and bold, it strengthens our mission. These qualities are essential to meeting our goals and fulfilling our role as the top telecommunications provider in Sierra Leone.”
Adding to this, Alpha Bundu, the Customer Experience Director, expressed optimism about the company’s future and its ability to overcome challenges. He noted that the telecom giant is at a pivotal moment, where turning obstacles into opportunities is crucial for continued success. “We must embrace change if we want to continue progressing,” Bundu remarked. “Being caring means standing by our customers, especially in difficult times. Today’s event reaffirms our commitment to addressing the challenges they face, and we are investing in cutting-edge technology to ensure we remain Sierra Leone’s number one telecom provider.”
The high point of the event came when Orange Sierra Leone’s Chief Executive Officer, Sekou Amadou Bah, took the stage to formally introduce the company’s new brand tagline and signature: “Orange is here.”
“Dear valued customers, Orange is here!” the CEO proclaimed. “This new tagline embodies our three core values: care, responsibility, and boldness. We are committed to offering the best to our customers, keeping our promises, and driving innovation to open new opportunities.”
Bah assured the audience that Orange SL is dedicated to maintaining the highest standards of quality and reliability, with its teams working diligently to meet customer expectations. “Our promise to you remains unshaken,” he added, “as we continue to be transparent and nurture the confidence you have in us. ‘Orange is here’ is more than a tagline—it’s a commitment. ‘Orange dey ya!’”
In his address, Bah also acknowledged recent challenges faced by the company, but reassured customers and stakeholders that Orange SL remains steadfast in its mission to provide excellent service. “Despite the uncertainties, we are here to stay,” Bah affirmed. “Our new brand signature reflects our dedication to delivering more than just telecom services. We are committed to innovation that improves the lives of our customers, and ‘Orange is Here’ represents our unwavering dedication to keeping our promises.”
As the event drew to a close, Bah emphasized that Orange Sierra Leone’s future lies in constant improvement and collaboration. He stated that the new logo and brand identity are not merely cosmetic changes but reflect the company’s broader vision of growing alongside the needs of the nation and offering cutting-edge solutions for its customers.
With the launch of its new brand identity, Orange Sierra Leone is set to further cement its position as the country’s leading telecommunications provider. The company is poised to push the boundaries of innovation, ensuring that it continues to serve as a customer-centric, forward-thinking entity dedicated to the people of Sierra Leone.
