Building a Secured Future Through Services Delivery

Rokel Commercial Bank (formerly Barclays Bank) was established in 1917 as Barclays Bank DCO with 100% shares owned by the parent company

On 17th September 1999, Barclays Bank PLC which was the majority shareholder at the time (60% shares) withdrew from its operations in Sierra Leone after extensive discussions with the Government of Sierra Leone. The Bank after consultations with the Government was renamed Rokel Commercial Bank (Sierra Leone) Limited.

Rokel Commercial Bank (SL) Ltd. is the dominant bank in the market place providing about 25% of all banking business in the country.The Bank has 26 branches and outlets nationwide. With branch and outlet in hard to reach areas like Bonthe, and Tongo. This clearly shows the banks' drive for financial inclusion.

The Bank is headed by a visionary and dynamic Managing Director; Ambassador, Dr. Walton Gilpin, a seasoned and internationally recognized financial expert with over 27 years of experience in managing complex policies and processes in Banking and banking-related institutions in Africa, Europe, South Pacific, Caribbean, and the United States. He is ably supported by a management team comprising of professionals with extensive experience in the financial Industry

All our Branches provide real time banking services and the concept of banking with the bank is manifested through our network of branches, among which is the SME Loan Scheme for low income earners and small business owners nationwide.

Rokel Commercial Bank SME Loan Scheme

The Sierra Leone Small and Medium Enterprise Development Agency is a government entity established under SMEDA Act No. 11 of 2016. This Act was developed through a stakeholder's consultation and a Memorandum of Understanding, signed between the Bank of Sierra Leone, the Ministry of Finance, Ministry of Trade and Industry and the International Labor Organization (ILO) in order to finetune the policy on SME and strategy that was developed in 2014.

One of the key drivers of the SME Project is Financial Inclusion and R.C Bank as a key financial Intermediary with its support from the un-matching zeal of excellence of the Managing Director Dr Walton E. Gilpin has provided loans and technical support to various SME businesses nationwide in a way that has helped to boost socio-economic and human capital development.

The Impact Of Sme Project On The Lives Of Beneficiaries In The Economy

The SME arm of our institution (Rokel Commercial Bank (SL) Ltd) was re-introduced as a result of the need to support government through the National Strategy for Financial Inclusion (NSFI) launched by the Central Bank in increasing availability, accessibility and affordability of finance for Micro Small and Medium Enterprise in Sierra Leones.

As at the end of 2022, through the SME Loan Scheme the bank has been able to impact the lives and livelihood of One Thousand (1,000) individuals of which 300 are Men and 700 are Women .We provide loans for expansion purposes and thus we have thereby expanded over a thousand small businesses which means the SME project has been able to provide /keep these individuals in jobs which in turn provide a source of livelihood for them and their dependents. Thus, the project has helped government in providing access to basic social amenities for these families (Food, Shelter, Housing and access to Education etc).Traders, farmers and wives of military officers have so far benefitted from this scheme.

Conclusion

From the above indications you can see the tremendous impact the SME project has made to the beneficiaries and the economy of Sierra Leone as a whole. It is clear from this perspective that the Rokel Commercial Bank SME project is a multiplier tool to the technical efficiency and growth of Sierra Leone's GDP