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Union Trust Bank Shareholders Challenges Bank of Sierra Leone Over RCBank Takeover


Shareholders of Union Trust Bank (UTB) have formally petitioned the Bank of Sierra Leone (BSL), requesting an immediate suspension of the central bank’s decision to place UTB under a caretaker management and approve Rokel Commercial Bank (RCB) as its acquirer.

The petition, filed by ACE Legal Partners on behalf of major UTB shareholders and consultant Dr. Jonathan Bangura, alleges significant statutory and constitutional violations in the process that led to the decision.

The petition was submitted in response to BSL’s public notice on December 8, 2025, which declared that UTB would be placed under caretaker management and that RCB would take over the bank.



According to the petitioners, the central bank’s actions contravene the Banking Act, 2019, particularly Section 69, which mandates a 45-day period for UTB to submit a capital restoration plan. They claim that BSL shortened this statutory period to just 30 days, disregarding the required timeframe.

In the petition, which is addressed to the Governor of the Bank of Sierra Leone, the shareholders argue that BSL’s letter of November 14, 2025, directed UTB to submit its capital restoration plan within 30 days. However, they assert that this period was inadequate, as it fell short of the 45 days required under the Banking Act.

The petition also highlights that the central bank failed to honor even the shortened 30-day period. According to the petitioners, the letter, received on November 18, 2025, set a deadline of December 18, 2025, for the submission. However, the resolution date in the BSL’s public notice was approximately 20 days later, in violation of both statutory and constitutional principles.

The petitioners claim that this deviation from the Banking Act not only constitutes a statutory breach but also amounts to a constitutional illegality. Citing Section 105 and Section 171(15) of the Sierra Leone Constitution, they argue that any law inconsistent with the constitution is void and of no effect. As such, the petitioners contend that BSL’s actions, which diverged from the Banking Act, are unconstitutional.

ACE Legal Partners, representing the shareholders, state that they act on behalf of several prominent UTB stakeholders, including Messrs. Sabanor Trust Investment Fund, Aureol Insurance Company, Mr. Mohamed Kwanza, Mr. Yayah Nesser, Ms. Yema Woobay, and Mr. Wusu B. Koroma. Additionally, they represent Dr. Jonathan Bangura, UTB’s consultant and the individual entrusted by the late founder and CEO of UTB, Mr. Sanpha Koroma, to oversee the bank’s succession and fiduciary transition.

The petitioners have outlined three primary requests in their letter to the Bank Governor. First, they call for an immediate suspension of the BSL’s December 8 public notice, asking that all receivership, resolution, and acquisition processes be put on hold pending a transparent and good-faith review.

Second, they demand an urgent meeting involving Dr. Bangura, key UTB stakeholders, the Director of Banking Supervision, and other senior BSL officials to engage substantively on the proposed roadmap for the bank’s future. Finally, they seek approval from the central bank to proceed with UTB’s recapitalization and restructuring plan, which they assert should be carried out under BSL’s direct supervisory oversight.

In support of their position, the petitioners reference several provisions of the Banking Act, 2019, including Sections 116(1), 59, 66, 67, and 69. They also invoke constitutional principles of “fair administrative actions” and common law doctrines such as “legality, reasonableness, proportionality, and procedural fairness.”

The petitioners have expressed their hope that the Bank Governor will give “kind consideration” to their requests and allow for a swift and transparent review of their proposed recapitalization plan under the supervision of BSL. As of the time of writing, the Bank of Sierra Leone has not publicly responded to the petition.

The petitioners argue that the statutory instruments regulating public entities, such as the Bank of Sierra Leone, have quasi-constitutional effect, as they define the scope of executive discretion. They conclude that any deviation from the Banking Act would constitute not just a statutory breach, but a constitutional illegality, with far-reaching consequences for the integrity of the country’s financial system.



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Sierra Leone Commercial Bank Signs Strategic Partnership With Republic Bank Ghana


Sierra Leone Commercial Bank (SLCB) has taken a significant step toward regional integration and institutional strengthening by signing a technical cooperation agreement with Republic Bank Ghana.

This strategic partnership aims to enhance SLCB’s operational capacity and accelerate its transformation into a modern, innovation-led financial institution within West Africa.

More than just a ceremonial accord, the agreement signifies a commitment to deep technical collaboration, focusing on knowledge exchange, capacity building, and the enhancement of expertise. These elements are core to SLCB’s long-term vision of becoming a resilient bank that meets diverse financial needs across the region.



The official signing ceremony took place in Accra, Ghana, and featured key leadership figures from both banks. Republic Bank Ghana was represented by its Managing Director, Board Chairman, and other senior executives, while SLCB’s delegation included its Board Chairman, Managing Director, Director of Finance, and Head of the Company Secretariat, highlighting the strategic importance of the partnership.

Through this alliance, SLCB aims to leverage Republic Bank Ghana’s extensive experience and technical knowledge to drive excellence in service delivery, digital transformation, and sustainable banking practices. The collaboration is expected to lead to improved product offerings, more efficient systems, and greater customer satisfaction within Sierra Leone’s banking sector.

Both banks reaffirmed their shared vision of promoting higher standards in regional banking. The partnership is anticipated to yield mutual benefits, strengthening institutional performance and contributing to broader economic development in both Sierra Leone and Ghana.

This technical cooperation marks a pivotal moment in SLCB’s growth journey, signaling its readiness to embrace regional opportunities and deliver lasting value to customers, employees, shareholders, and the financial ecosystem at large.



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Bank of Sierra Leone Announces Reduction in Monetary Policy Rate to Boost Economic Growth


The Monetary Policy Committee (MPC) of the Bank of Sierra Leone (BSL) has reduced the Monetary Policy Rate (MPR) by 1 percentage point to 23.75%, effective June 24, 2025, in a move aimed at lowering borrowing costs and stimulating private sector investment.

The decision, approved by the BSL Board of Directors on June 23, follows a review of global and domestic economic conditions. Governor Dr. Ibrahim L. Stevens announced corresponding adjustments to the Standing Lending Facility Rate (SLFR) and Standing Deposit Facility Rate (SDFR), now set at 26.75% and 17.25%, respectively.

The MPC’s decision comes amid a cautiously optimistic outlook for Sierra Leone’s economy, underpinned by a significant decline in domestic inflation from 13.78% in December 2024 to 7.55% in May 2025. This drop, attributed to prudent monetary policies, fiscal discipline, stable fuel prices, and a relatively steady exchange rate, has created room for the BSL to ease monetary policy to support investment and growth.



Globally, the economic landscape remains challenging, with the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), and the World Bank revising down their 2025 global growth forecasts to 2.8%, 2.9%, and 2.3%, respectively. These downgrades reflect trade policy shifts and geopolitical tensions, which could disrupt supply chains and exert inflationary pressures on Sierra Leone’s economy. Despite these risks, the MPC noted that global inflation is expected to decline in 2025 and 2026 due to tighter monetary policies and falling commodity prices.

Domestically, Sierra Leone’s economy is projected to grow by 4.5% in 2025, up from 4.0% in 2024, driven by strong performances in mining, agriculture, and services. The MPC anticipates growth to rise further to 4.7% in 2026 and 2027, supported by government initiatives to enhance agricultural productivity. However, external risks such as global supply chain disruptions and trade tensions could pose challenges, prompting calls for policies to bolster economic resilience.

The MPC highlighted mixed developments in Sierra Leone’s external and fiscal sectors. The trade deficit widened in the first quarter of 2025 due to higher import costs and lower export earnings, while foreign exchange reserves fell to cover just 1.8 months of imports. On the fiscal front, the budget deficit grew in early 2025 due to lower domestic revenue and higher interest payments, though reduced spending on goods, services, and subsidies narrowed the primary deficit. A decline in the 364-day Treasury Bill rate has eased borrowing costs, providing fiscal space for the government.

Monetary developments showed a contraction in reserve money but moderate growth in broad money (M2) in the first quarter. While credit to the private sector increased, it remains insufficient to drive significant investment. The MPC stressed the need for a more inclusive credit environment to support private sector growth.

In its statement, the MPC emphasised that the rate cut aims to encourage private sector credit, reduce borrowing costs, and promote sustainable growth while maintaining vigilance over inflationary risks. The next MPC meeting is scheduled for 25 September 2025.



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Sierra Leone and Seven Other West African Countries in Malaysia to Unveil the Truth About QNET


QNET, a 26-year-old international direct selling company with operations in about 100 countries including Sierra Leone has invited journalists from seven West African countries to visit its Head Office in Malaysia and attend this year’s VCON, a global gathering of QNET’s independent distributors, marketing experts, entrepreneurs, and other stakeholders.

Among the journalists invited from QNET’s sub-Saharan Africa operations were senior reporters and editors from Ghana, Nigeria, Togo, Senegal, Guinea, Liberia, and Sierra Leone. The Editor of Sierraloaded represented Sierra Leone.

As part of a tradition it began in 2022, QNET annually invites journalists from various countries to its headquarters to witness first-hand its operations and attend the company’s flagship conference, VCON, in Malaysia. This is part of its continued efforts to counter misinformation and build transparency around its brand and products.



In recent years, QNET has faced widespread misconceptions, as scammers have falsely used the company’s name to defraud people. In response, QNET has increased public education through press statements, media engagement events, and partnerships with security and government agencies particularly in Sierra Leone. It has also launched a robust anti-fraud initiative called “QNET Against Scams,” aimed at offering clear, factual information about the company and its offerings.

As part of the media tour, West African journalists visited QNET’s 15-storey headquarters, the QI Tower a towering and modern facility that visibly reinforces the company’s legitimacy and global reach. They also toured the QNET product gallery, where they could see and experience the lifestyle and wellness products the company manufactures for customers in Sierra Leone, Africa, and beyond.

Journalists participated in presentations detailing QNET’s business structure, philosophy, model, and product lines. During these sessions, it was made evident that QNET is a long-established company with a genuine presence and commitment to African markets. The media team was also introduced to the RYTHM Foundation (Raise Yourself To Help Mankind), the company’s corporate social responsibility arm, which supports impactful humanitarian projects worldwide.

Day One of the tour emphasized QNET’s operations in Africa especially Sierra Leone where fraudulent individuals have used the company’s name to exploit innocent people. QNET made it clear that it has no association with such individuals and is actively working to combat scams and misinformation. Inviting journalists from several African countries is one way QNET aims to increase transparency and correct public misconceptions.

During the sessions, QNET repeatedly clarified the following:

It does not offer job opportunities abroad or require large payments in exchange for employment.

It does not offer scholarships or visa services.

QNET is not a Ponzi scheme or an investment platform.

Anyone spreading such false claims should be reported to security agencies or directly to QNET via its WhatsApp hotline: +233 256 630 005.

VCON 2025 officially opens on June 21, 2025, on the beautiful island of Penang, Malaysia, with over 8,000 participants expected from around the world.



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GTBank Sierra Leone Welcomes Daniel Attah as the New Managing Director, Bids Farewell to Ade Adebiyi


Guaranty Trust Bank (SL) Limited is pleased to announce the appointment of Daniel Attah as the Managing Director/Chief Executive Officer effective 12th May 2025.

Attah’s appointment, approved by the Central Bank of Sierra Leone, follows his nomination by the Board of GTBank Sierra Leone and Guaranty Trust Company PLC. He succeeds Ade Adebiyi, who has completed his tenure.

With over 25 years of banking experience, Attah brings extensive expertise in Corporate Banking, Retail Banking, Treasury, Risk Management and Banking Operations. He previously served as Executive Director Technology and Operations of GTBank Gambia and General Manager, GTBank Ghana where he contributed to the transformational growth in retail banking, operations and Technology.



Attah holds a bachelor’s degree in Agricultural Economics from Ahmadu Bello University Zaria and a Master of Business Administration from Ambrose Alli University Ekpoma, Nigeria. He is also a Fellow of Chartered Institute of Bankers of Nigeria and has attended various Managerial and leadership trainings.

Dr. Leonard Gordon-Harris, Board Chairman GTBank (SL) commented:

“The Board extends its gratitude to Ade Adebiyi for his exceptional leadership since 2018. Under his stewardship, the bank achieved unprecedented milestones—from expanding our customer base to pioneering innovative digital banking solutions that set industry benchmarks.

“We are equally delighted to welcome Daniel Attah and are confident his vision will further drive our commitment to delivering customer-centric solutions and maintaining excellence in banking services.”

The Board congratulates Ade Adebiyi on a successful tenure and wishes Daniel Attah every success in his new role.

About GTBank Sierra Leone

Guaranty Trust Bank (Sierra Leone) Limited, a subsidiary of Guaranty Trust Holding Company (GTCO) PLC, is a leading financial institution renowned for innovation, superior customer experience, and cutting-edge technology.



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QNET Launches Anti-Scam Campaign to Combat Fraud and Brand Misrepresentation in Sierra Leone


QNET, a global lifestyle and wellness-focused direct selling company, has launched its “QNET Against Scams” campaign in Sierra Leone. The initiative aims to educate the public and raise stakeholder awareness about fraudulent activities misusing the QNET brand.

QNET Against Scams’ coverage in Sierra Leone.
The comprehensive campaign will utilise multiple channels, including television, radio, online news portals, social media, print media, and billboards across Sierra Leone. Billboards would be mounted at strategic locations in Freetown. This will be replicated in Bo, Makeni, Kenema and other towns, while the radio, television, print and online media announcements are expected to reach the entire country.

Fight against scams is a collective responsibility
Mr. Biram Fall, Regional General Manager for QNET, stated, “We have successfully launched same campaign in Ghana and Senegal, and the feedback is amazing: people are understanding our products and business model better. This public education and media campaign is part of the deliberate actions we are taking to aggressively combat the misrepresentation and misuse of the QNET name in Sierra Leone. We must unite to fight against people and scammers who are defrauding innocent Sierra Leoneans, and awareness is our most powerful tool in this battle,” he explained.
Mr. Fall outlined the campaign’s primary objectives:
1. Raise public awareness about QNET’s legitimate business operations and its products
2. Educate individuals on identifying and avoiding scams that misrepresent and misuse QNET’s name and products
3. Collaborate with law enforcement and government agencies to prosecute offenders
4. Reinforce QNET’s commitment to transparency and ethical business practices
“QNET is about empowerment, not exploitation. And we are fighting back against scams and all forms of misrepresentation of our brand in Sierra Leone,” he concluded.



QNET provides safe reporting channels
QNET urges the public to actively participate in this campaign by reporting any suspicious activities falsely representing the company. Reports can be made via WhatsApp at +233256630005 or email at [email protected]. For more information about QNET and its products, please visit www.qnet.net.

About QNET

QNET is a prominent lifestyle and wellness company that uses a direct selling business model to offer a wide selection of exclusive products that enable individuals to embrace a healthier, more balanced life.

Since 1998, QNET’s innovative products and e-commerce-driven business model have helped build a global community of satisfied customers and microentrepreneurs, who are driven by the mission of RYTHM – Raise Yourself To Help Mankind. Popular product brands offered by QNET include the Bernhard H. Mayer range of luxury watches and jewellery, HomePure range of home care products, the Amezcua wellness range, Physio Radiance personal care range, and QVI branded holiday packages.

QNET proudly holds memberships in the Direct Selling Association in several countries, the Hong Kong Health Food Association, the Health Supplements Industry Association of Singapore, and more. QNET is also active in several global sports sponsorships including in its role as the official direct selling partner of the Manchester City Football Club and the Confederation of African Football (CAF), underscoring its commitment to excellence and global reach. Discover a world of new possibilities with QNET by visiting www.qnet.net



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Key Takeaways from Interswitch’s Sierra Leone Fintech Forum 2.0


Sierra Leone’s financial services landscape is undergoing a powerful transformation, driven by a growing commitment to build inclusive, digitally enabled systems that serve every citizen. This vision took centre stage at the second edition of the Sierra Leone Fintech Forum, recently hosted by Interswitch in collaboration with the Bank of Sierra Leone at New Brookfields Hotel in Freetown.

Bringing together regulators, banks, fintech innovators, mobile money operators, and development partners, the Forum marked a pivotal moment for the country’s digital finance journey and served as a platform for strategic dialogue, ecosystem alignment, collaborative thinking, and collective problem solving, aimed at unlocking the full potential of digital payments and financial inclusion.

From Conversations to Collaboration



Focused on the theme “Access, Inclusion and Growth – Deepening Digital Payments in Sierra Leone,” the event featured a vibrant agenda of keynote sessions, thought-provoking panel discussions, and live product showcases.

The conversations reflected a maturing ecosystem, one ready to address long-standing financial access barriers while embracing the innovations reshaping global finance. From infrastructure gaps and regulatory reforms to the evolving potential of agency banking, stakeholders leaned into the urgent need for a more collaborative and interoperable future.

In his keynote address titled “Building on Progress: Expanding Access, Driving Inclusion, and Fueling Growth for National Prosperity,” Akeem Lawal, Managing Director, Payment Processing and Switching (Interswitch Purepay), laid a strong foundation for the day’s engagements, emphasising the importance of collective action in delivering inclusive growth through digital finance.

Spotlight on Agency Banking

The forum also spotlighted Interswitch’s Agency Banking solutions, a key enabler of financial inclusion for underserved and remote communities. By empowering banks and other financial institutions to extend their reach through a network of local agents, the solution is helping to bridge the gap between formal banking and the millions previously excluded from it. This reflects a broader strategic focus, where technology does not just drive efficiency but delivers real, everyday impact for individuals, SMEs, and entire communities across Sierra Leone.
Big Themes, Bold Conversations

Two panel sessions anchored the day’s discussions. The first, “Banking Beyond Boundaries: Navigating Access, Inclusion, and Innovation in a Digital-First Economy,” explored how banks and regulators are adapting to meet the demands of an increasingly digital population. The session examined how digital payments are transforming financial access, driving economic inclusion, and spurring growth. It covered the role of interoperability, infrastructure, regulation, and collaboration with fintechs in deepening inclusion and expanding reach.

Paul Ohakim – VP, Issuing & Acquiring Management, Verve International joined the panel to offer insights on the role of payment infrastructure in enabling system-wide inclusion. Speakers from top institutions including GTBank, Rokel Bank, UBA, Skye Bank, FBN, and the Bank of Sierra Leone also contributed perspectives on how traditional banks can drive interoperability, enhance trust and security, and support regulatory frameworks to reach underserved populations.

The second session, “Building Bridges, Breaking Barriers: Unlocking Inclusive Growth Through Interoperable Digital Payments and Strategic Partnerships,” addressed one of the key priorities in Africa’s fintech space today, which is interoperability. Discussions focused on building connected ecosystems that nurture seamless transactions and equitable access across all user segments.

Olubunmi Aina – VP, Sales & Account Management, Interswitch participated in this session, highlighting the importance of partnerships and shared infrastructure in scaling digital financial services across diverse markets. Fintechs and mobile money operators such as Orange Money, CMB, Vault, and SLCB shared perspectives on platform integration, trust and risk management, and collaborative models. There was also a strong emphasis on scaling impact through agent networks, improving merchant acceptance, and harnessing Sierra Leone’s tech-savvy youth population.

A Platform with Purpose

The Sierra Leone Fintech Forum was more than just another industry gathering. It was a deliberate investment in the growth of the ecosystem. Through the event, Interswitch reinforced its belief that the future of finance in Africa will not be built in isolation, but in alignment with all key stakeholders within and outside of the payment ecosystem. It was a platform dedicated to enabling systems that are both inclusive and resilient, supporting long-term development through accessible, innovative financial solutions.

As Sierra Leone continues to expand mobile connectivity and accelerate its digital transformation agenda, the forum proved a timely catalyst, challenging stakeholders to act boldly, think inclusively, and build systems that deliver real impact. The message was clear and consistent: sustainable progress demands more than innovation. It requires collaboration.

Events such as the Interswitch Fintech Forum are crucial not only for sparking innovative ideas to propel the ecosystem forward but also for facilitating the implementation of these ideas in ways that create real value for individuals, businesses, and the wider African economy. While the journey is still in its early stages, the momentum gained is unmistakable.



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Africell Drives Digital Inclusion at 2025 Sierra Leone Innovates Summit


Africell Sierra Leone has once again positioned itself at the forefront of the nation’s digital revolution, playing a leading role in the 2025 Sierra Leone Innovates Digital Government Summit held in Freetown.

Organized by the Ministry of Communication, Technology, and Innovation (MoCTI), the high-level summit brought together government officials, private sector stakeholders, youth innovators, and international partners to explore pathways for a smarter, more inclusive digital future.

Africell, one of the summit’s main sponsors, was not just a financial partner but an active contributor to its vision and success. The company’s Chief Operating Officer, Malek El Koussa, praised the event’s organization and the government’s commitment to pushing the digital agenda.



“This year’s summit has truly raised the bar,” El Koussa stated. “We are proud to be a part of this moment where the President’s directives have clearly defined the digital vision of Sierra Leone. It’s now our shared responsibility both public institutions and private enterprises to align with that vision and deliver innovation that touches real lives.”

At its vibrant exhibition booth, Africell showcased a suite of advanced technologies, many of which are aimed at bridging the digital divide across Sierra Leone. Among the highlights was the introduction of AI EVA, a voice-powered artificial intelligence service capable of responding to verbal queries in local languages ideal for users without smartphones or internet access. Tailored for farmers, traders, students, and underserved populations, AI EVA supports digital inclusion in rural and low-literacy communities.

Africell also exhibit its AfriGBT, a localized version of the popular ChatGPT model, adapted to work offline and on basic devices. Both tools are designed to democratize access to knowledge and education through artificial intelligence.

“We believe that the future belongs to the youth and to the dreamers,” El Koussa added. “Platforms like this summit give them the opportunity to see how technology can truly shape their destiny.”

Beyond AI, Africell spotlighted its technological infrastructure, including 5G routers, Samsung smart devices, and its increasingly popular Star Fiber home internet bundles. The company is also the authorized distributor for Samsung in Sierra Leone, making high-quality devices more accessible to Sierra Leoneans.

In the financial sector, Africell demonstrated the capabilities of its Afrimoney platform, now offering seamless international remittance services. With digital finance becoming an integral part of daily life, Africell is expanding services to remote and unbanked communities, strengthening its position as a leader in financial technology.

In a strong message to Sierra Leone’s youth and broader public, El Koussa emphasized the urgency of adapting to technological change.

“Change is inevitable. We once moved from analog phones to smartphones now we are moving from manual to digital systems,” he said. “If you resist technology, it will leave you behind. If you embrace it, it will uplift you.”

The summit highlighted the vital role that private sector companies like Africell play in achieving the government’s national digital transformation goals. With President Julius Maada Bio’s administration pushing for innovation-driven governance, Africell’s contributions reaffirm its position as not just a telecom provider but a true partner in progress.



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Orange Sierra Leone Launches ‘Pay as You Go’ Energy Solar kits


Orange Energy was launched in June 2020. The idea of orange energy was born out of a survey that was conducted to know the immediate need of our customers particularly in rural areas.

The report shows that people were in dire need of energy to provide basic lighting services and to be able to charge their phones to stay connected to their loved ones & business associates.

Orange Energy allows households without access to energy to buy a solar kit with the money they would have spent on candles and oil lamps. They can buy the solar kit by paying small sums via Orange Money each week or each month (pay as you go).



Our business model is Pay as you Go (PAYG) which means that we sell our solar kits on credit. Customers must make an upfront payment plus at least one month subscription fee to start using the service. Further payments are made on monthly basis for a specified period at the end of which the product becomes free for the customer. During this period if the Solar Kits is faulty, which is not the fault of the customer, orange will either repair or replace the device immediately.

This opportunity comes at a time when there is global clamour for the adoption of clean energy. Orange Energy provides reliable and environmentally friendly energy that meets the environmental requirements without compromising the safety of our customers and the future generation.

Orange energy carters for the needs of both urban and rural families that are not connected to the national grid and provides a solution in the event of load shedding.

For further information please contact all orange facilities across the Country.



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Orange Money and AMJAM Launch KwikMoni Loan Service to Empower Small Businesses in Sierra Leone


Orange Mobile Finance SL Ltd (OMFSL) and AMJAM & Associates Ltd have introduced a groundbreaking financial initiative aimed at boosting small businesses across Sierra Leone.

The KwikMoni Loan Service, officially launched on Monday, offers digital microloans to Orange Money subscribers, agents, and merchants, providing them with quick access to credit.

The launch event, held on 5th May 2025, at the OMFSL head office, drew key stakeholders, including executives from OMFSL, representatives from AMJAM, financial institution delegates, Orange Money partners, and members of the press. The atmosphere was vibrant with optimism as industry leaders highlighted the potential of KwikMoni to transform financial inclusion and support entrepreneurship.



A Digital Solution for Financial Empowerment

KwikMoni is designed as a fast, secure, and entirely digital loan service. It enable users to borrow money directly from AMJAM with funds deposited into their OM wallets. Developed by AMJAM, the service leverages a data-driven scoring model to assess eligibility, offering loan amounts ranging from NLe1,000 to NLe5,000 for agents and merchants, and up to NLe1,000 for subscribers.

Loans are available 24/7, with repayment periods of 7 days for agents and 30 days for merchants and subscribers. The initiative is tailored to meet liquidity challenges faced by small business owners, helping them manage stock, cover short-term expenses, and maintain cash flow.

Voices from the Leadership

During the event, Sekou Amadu Bah, Board Chairman of OMFSL, underscored the strategic importance of KwikMoni:

“We are breaking down barriers that have kept too many out of formal credit systems. KwikMoni is not just a service, it’s an opportunity for growth and financial empowerment.”

David Samba Mansaray, CEO of Orange Mobile Finance SL Ltd, emphasized KwikMoni’s potential to drive economic resilience:

“KwikMoni is more than just a loan, it’s a tool for empowerment. Whether you’re a market woman, taxi driver, or small shop owner, this service grants you immediate access to working capital, helping you grow your business and secure your livelihood.”

Marju Jalloh, CCO of AMJAM, representing the CEO, highlighted the partnership between AMJAM and OMFSL:

“This collaboration showcases the transformative potential of technology. KwikMoni embodies trust, inclusion, and innovative finance values central to our commitment to the community.”

Who Can Benefit from KwikMoni?

KwikMoni is accessible to:

  • Fully registered Orange Money subscribers
  • Orange Money merchants
  • Orange Money agents

Eligibility is based on transaction consistency and usage patterns on the Orange Money platform. To apply, users simply dial:

  • #144*7# for Subscribers
  • #145*9#, select option 12 for Agents
  • #146*9# for Merchants

Empowering the Informal Economy

The introduction of KwikMoni is expected to significantly impact the informal sector, which forms a large part of Sierra Leone’s business landscape. By providing easy and immediate access to credit, the service helps bridge the financing gap that many small enterprises face.

Business owners, including traders, Keke riders, and kiosk operators, no longer need to rely on informal borrowing. The digital nature of KwikMoni means they can secure loans without leaving their workplace—no paperwork, no collateral, and no queues.

Moving Forward

KwikMoni marks the latest in a series of financial innovations from OMFSL and AMJAM, focused on expanding digital financial services to underserved communities. With a growing user base exceeding 2 million, the companies remain committed to fostering economic resilience through accessible and innovative solutions.

For more information, customers are encouraged to contact Orange Money Customer Service, dialling: 111.

This launch marks a pivotal step in Sierra Leone’s journey towards inclusive financial services, offering small businesses a reliable way to access credit and strengthen their economic stability.

 



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