Accra: Republic Bank (Ghana) PLC has formalized a memorandum of understanding (MOU) and non-disclosure agreement with the Sierra Leone Commercial Bank Limited (SLCB). The agreement is aimed at providing technical support to enhance banking capabilities and accelerate financial sector development across Sierra Leone and beyond.
According to Ghana News Agency, the signing ceremony took place at the headquarters of Republic Bank (Ghana) PLC in Accra, where key leaders from both institutions were present. Attendees included Republic Bank’s Board Chairman, Mr. Jonathan Prince Cann, and SLCB’s Board Chairman, Mr. Nyake I. Amara, along with the Managing Directors Dr. Benjamin Dzoboku and Mr. Yusufu Abdul Silla, and senior management from both banks.
The strategic partnership marks a significant step in Republic Bank’s mission to support African institutions through capacity building and innovation. The agreement will see Republic Bank offering technical assistance to SLCB in various areas including mortgage financing, credit card services, corporate banking, trade financing, investment banking, custody and trust services, and asset management.
Mr. Jonathan Prince Cann emphasized the importance of this partnership as a response to the need for African banks to collaborate in shaping a resilient financial future. He stated that the knowledge shared will have lasting effects, and Republic Bank is committed to leading this capacity-building agenda.
Mr. Nyake I. Amara expressed confidence in the partnership’s long-term impact, highlighting the shared purpose and mutual benefits. He noted that the transfer of technical knowledge and collaborative innovation will significantly benefit SLCB’s staff, customers, and Sierra Leone as a whole.
SLCB’s Managing Director, Mr. Abdulai Yusufu Silla, echoed this sentiment, stating that the partnership will modernize SLCB’s offerings and enhance the skills of its people, enabling the delivery of world-class services across West Africa. He acknowledged the partnership as a bold step towards transforming SLCB’s capacity to attract significant funding for development.
Dr. Benjamin Dzoboku, Managing Director of Republic Bank (Ghana) PLC, referenced the successful collaboration with the Liberian Bank for Development and Investment, underscoring the potential for institutional transformation and customer empowerment. He affirmed the role of Republic Bank as a technical support hub within the Republic Financial Holdings Limited Group, committed to regional integration and banking innovation.