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Wednesday, February 28, 2024

V.P. Foh launches the ACTB Savings and Loans Limited

HomeAYV NewsV.P. Foh launches the ACTB Savings and Loans Limited

V.P. Foh launches the ACTB Savings and Loans Limited


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In his Keynote Address, VP. Foh on behalf of His Excellency the President, Dr. Ernest Bai Koroma congratulated the Board, Management and Staff of ACTB Savings and Loans Limited for the great achievement in graduating from a Credit-only Microfinance Institution, to one that, like any bank, can now take deposit from its customers.

The awarding of deposit-taking license to the ACTB Institution, VP. Foh said, is a clear manifestation of the confidence reposed in them by the Bank of Sierra Leone, the national financial regulator. This, he furthered, is no doubt a testament to the extraordinary commitment to serving their customers whilst meeting the demands of their investors.

VP. Foh commended the all-Sierra Leonean Management Team and Staff for the note-worthy achievement of becoming the biggest non-bank lender in the country; reaching 17,000 active customers, 26 billion leones lending portfolio, with 9 branches in 8 Districts in the country and a staff strength of 96, noting that this is truly a success story.

Vice President Foh used the occasion to encourage Sierra Leoneans to utilise their potential in a way and manner that would add value to the country.

He averred that the provision of access to high quality and affordable financial services to the economically active poor people, is a strategic tool for fighting poverty in any nation. “Being cognisance of this, since he assumed office in 2007, President Dr. Ernest Bai Koroma and his Government have made financial and economic growth a central theme in our nation’s development agenda, the Agenda for Prosperity”, VP. Foh declared. He informed that the Financial Sector Development Plan and the recently launched National Financial Inclusion Strategy, are only a few of the critical steps taken by Government to lay a clear path to ensuring that affordable financial services are available and accessible to all Sierra Leoneans. He therefore, entreat the Private Sector to take the lead in economic growth.

VP. Foh asserted that his presence at the ACTB’s launching is a testament of Government’s commitment to fulfill all of its promises to the people of this country; supporting the growth of businesses that provide financial lifeline for the people of Sierra Leone. He assured his audience that the APC led Government will continue to provide the enabling environment for businesses like ACTB Savings and Loans to grow, thrive and expand their operations so that more and more Sierra Leoneans will have access to much needed financial services, prosper personally and grow our economy for the benefit of all Sierra Leoneans.

In closing, Vice President Foh saluted the Board, Management and Staff of ACTB Savings and Loans Limited, calling the occasion a success story that is worth sharing and replicating. He then, on behalf of His Excellency the President, Dr. Ernest Bai Koroma wished the Institution every success in their operations.

The program was chaired by the CEO of A Call To Business (ACTB), Joe Abass Bangura.

©PR/ Media Coordinator-Office of the Vice President

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