ACTB Savings and Loans Commits to Supporting Private Sector Growth in Sierra Leone

28 Jun

ACTB Savings and Loans Commits to Supporting Private Sector Growth in Sierra Leone

ACTB Savings and Loans, previously known as A Call to Business Trading, is pleased to inform its customers and the general public that as Sierra Leone’s largest non-bank financial service provider, it has been officially granted license by the Bank of Sierra Leone to operate a Microfinance Bank.

The application for a Deposit-taking license was triggered by the need to raise finance locally to meet the very ambitious plans of the company.

A Call to Business Trading, as it was known before the current rebranding process, started operations in Sierra Leone in 2008 offering Micro and SME loans to economically active poor people and middle sized businesses and has never looked back ever since.

The secret to this success is the combination of a strong sense of mission and strong leadership demonstrated by the management at home and abroad, expressed David Kamara, Managing Director.

Receiving the License, Chief Executive Officer, Joe Abass Bangura emphasized the role the private sector has to play to drive the economy of the state.

He stated that growing ethical, people-focused and profitable businesses has a key role to play in alleviating poverty and the inevitable social problems that come along with it. We focus therefore on growing businesses that build our nation and leave a legacy that makes our communities better than we met them.

Following the granting of this license, actb Savings and Loans has released a list of products targeted at Small and Medium Sized Enterprises as well as private individuals seeking a new banking experience. Some of these products are tailored to fit the convenience of its valuable customers, such as the Osusu Account which allows customers to save money in a pool. The Pikin Savings Account also encourages parents, guardians or sponsors to save for their kids or those under their custody. Other products and services provided include Fixed Deposit Accounts, Premium Investment Accounts, Current Accounts, Savings Accounts which also includes General Savings and Special Savings.

Another important product that will be launched later on is the electronic banking service involving ATM and Visa Cards. “Most developed countries have digitized the way money is expended and therefore it is but prudent for actb Savings and Loans to go in that direction,” Joe Abass expressed, illustrating the rationale for this move.

“SMS and email alert services are also part of the package actb Savings and Loans will launch to keep its valuable customers informed particularly of specific account transactions.” Head of Operations, Mrs. Priscilla Kanneh shared, promising more products that actb Savings and Loans will unveil later on.

With a seed capital of $3,000, the company has grown to make tremendous gains in the market in just under a decade, rising to become the largest non-bank financial service provider with $3.8m in assets, 17,000 active subscribers, 9 branches in 8 districts and 96 staff across the country; at the time of application for the license.

“The fact that we can build our dream so doggedly, demonstrate we have the capacity to build the dream of our valuable consumers.” Joe assured

For more information, please contact our offices at 20 Old Railway Line, Brookfields or send us an email at enquiries@actb.sl or call us on +23230600800