By: Fayia Jr. Moseray
The Sierra Leone Commercial Bank (SLCB) has held a high-level strategic meeting with the African Export-Import Bank (Afreximbank) and Oakwood Green Africa, focusing on expanding trade finance solutions and enhancing access to finance for Small and Medium-sized Enterprises (SMEs) in Sierra Leone and the wider West African sub-region.
The meeting, held on Tuesday, September 9, 2025, was part of broader efforts to position SLCB as a key facilitator of economic growth and private sector development under the African Continental Free Trade Area (AfCFTA) framework.
One of the major outcomes of the engagement was the establishment of a “Clean Trade Finance Line” a facility designed to streamline transactions by reducing delays typically caused by intermediary banking processes.
Citing SLCB’s reduced Non-Performing Loan (NPL) ratio and its improving financial stability, Afreximbank expressed renewed confidence in the bank’s ability to manage large-scale financial operations. This confidence was further reflected in the approval of a USD 10 million line of credit, which will serve as a catalyst for SLCB’s trade finance activities and cross-border business development.
The meeting also emphasized the importance of SMEs in Sierra Leone’s economic transformation. Plans were outlined to develop a dedicated SME lending facility, with a strong focus on empowering women- and youth-led enterprises. This initiative is expected to stimulate innovation, entrepreneurship, and inclusive business growth across the country.
Operational frameworks were discussed, including compliance documentation, Know Your Customer (KYC) updates in line with international standards, and a detailed review of SLCB’s 2024 financial performance. Clear timelines were also agreed upon to meet due diligence requirements necessary for unlocking the new financial lines.
As part of the engagement, SLCB was introduced to Afreximbank’s Africa Trade Gateway (ATG) a flagship digital platform designed to facilitate intra-African trade through simplified payment systems, efficient due diligence processes, and market access tools. Once onboarded, SLCB will gain access to an integrated suite of solutions that will reduce transaction costs and enhance trade participation for its clients.
In closing, SLCB’s Director of Business Development, Mr. Moses C. Sesay, reaffirmed the bank’s commitment to implementing the agreed milestones and initiating immediate steps toward operationalizing both the trade finance and SME lending facilities.
“This partnership marks a significant leap forward in our mission to support the private sector and empower SMEs across Sierra Leone. We are fully committed to delivering on all agreed benchmarks,” he stated.
The engagement marks a pivotal moment for Sierra Leone’s financial sector, positioning SLCB as a frontline institution in driving trade facilitation, SME empowerment, and broader economic diversification while reinforcing the country’s readiness to harness the full benefits of the AfCFTA.