Republic Bank (Ghana) PLC has signed a Memorandum of Understanding (MoU) and Non-Disclosure Agreement with the Sierra Leone Commercial Bank Limited (SLCB).
The formal signing ceremony took place at the headquarters of Republic Bank (Ghana) PLC (RBGH) at Ridge in Accra and was attended by the key leadership of both institutions.
Technical support and financial sector growth
The MoU aims to provide technical support, strengthen banking capabilities, and accelerate financial sector development in Sierra Leone and beyond.
Managing Director of Republic Bank, Dr Benjamin Dzoboku, described the signing of the agreement as “a strategic realignment of shared vision and progress.”
He noted that the agreement was borne out of trust and a corporate desire to build a robust institution with operations that meet global standards.
Driving Pan-African collaboration
In a pan-Africanist spirit, Dr Dzoboku expressed his delight in taking up the extra responsibility of training staff from Sierra Leone, stating his belief that “we have to bring Africa together, and Republic Bank Ghana is happy to do just that.”
He voiced optimism about the aptitude of the SLCB staff who will undertake the two-year training course.
SLCB Emphasises need for skills and wealth creation
Managing Director of the Sierra Leone Commercial Bank, Yusufu Abdul Silla, affirmed his bank’s readiness to send personnel who are serious about acquiring banking skills to enhance development in Sierra Leone.
He emphasised that the goal of the training is to empower staff with knowledge about wealth creation.
“We have not been able to attract huge funds to develop the country, because we didn’t have the capacity and skills,” he said.
He added, “So we thought that one of the ways to do that is to link ourselves up with people with whom you can say you have a relationship — as a door opener.”
Vision for transformational development
Mr Silla disclosed that the ultimate vision is to attract and manage funds for meaningful development across Sierra Leone, the sub-region, and the continent at large.
“The only reason we are poor is because we do not have the ability to create wealth, and that’s what this journey is all about,” he remarked.
Mutual capacity building and long-term partnership
Board Chairman of Republic Bank Ghana, Jonathan Prince Cann, said the bank is committed to opening its doors to build the needed capacity.
He further noted that the agreement would not be unidirectional, as both parties would leverage each other’s strengths and weaknesses for a mutually beneficial relationship.
SLCB Board confident in training outcomes
Board Chair of SLCB, Ira Nyake Amara, highlighted the importance of capacity building in improving service delivery in Sierra Leone.
He expressed hope that staff would acquire the necessary skills during their time in Ghana.
Broader regional impact anticipated
Commenting on the wider implications of the partnership, speakers at the ceremony underscored that “when African banks share expertise, the outcome is institutional transformation and customer empowerment.”
Republic Bank Ghana expressed confidence that the partnership will yield significant results, enhancing financial access and stability not only in Sierra Leone but across the region.
