Rokel Commercial Bank Records Le88 Billion Profit
The Bank of Sierra Leone has approved the 2021 Financial Statements of the Rokel Commercial Bank and the figures show why the bank is indisputably the fastest growing financial institution in Sierra Leone.
According to the financial statements, the bank recorded a profit (before tax) of Le88, 706,445 (Eighty-Eight Billion, Seven hundred and six Million, Four Hundred and Forty-Five Thousand Leones) for the 2021 financial year. This represents a 6.1% increase from Le83, 566,323 billion (profit before tax) in 2020.
Profit after tax amounted to Le65,814,471 (Sixty-Five Billion, Eight Hundred and Fourteen Million, Four hundred and Seventy-One Thousand Leones) as against the previous year’s profit (after tax) of Le 57, 593, 377 (Fifty-Seven Billion, Five hundred and Ninety -Three Million, Three Hundred and Seventy-Seven Thousand Leones). The bank has also done extremely well with its prudential statistics as its positive retained earnings increased from Le44 Billion in 2020 to over Le77 Billion in 2021.
In spite of the harsh global economic climate occasioned by the outbreak of the Corona epidemic and its consequent effect on the nations’ economy, the Rokel Commercial Bank is on an upward growth trajectory with a very solid capital base.
There are strong indications that the bank will also be paying a dividend that far exceeds the amount it paid to its majority and minority shareholders last year. With 56.80% Capital Adequacy ratio, its loan to deposit ratio is 27.36% which is within the Bank of Sierra Leone’s minimum threshold.
In more recent times, the bank has expanded its digital space with a new Core Banking System that is flexible but robust enough to serve its customers. It has also increased its loan portfolio through a life changing SME scheme that mainly targets the informal sector and this has been like a magic wand in the growth and success of the bank.
*“We want to make profit but we equally want to serve as an engine of growth in Sierra Leone. Therefore, we will continue to innovate and explore better opportunities that will create wealth and better livelihoods for citizens* said Rokel Commercial Bank’s Managing Director, Amb Dr Ekundayo Gilpin.
Orange Money SL Launched ” Orange Money For All”
By Feima Sesay
Orange Money SL has on Friday,9th September, 2022 at their Hill Station Headquarters together with their partners launched a new product “Orange Money For All” for customers and non customers in Sierra Leone.
The launching of the Orange Money App which is tagged orange money for all was well attended by senior staff of the orange SL and their partners including influencers and some tik tok stars.
The head of marketing, strategy and partnership Abibatu Baxter, welcome the guests and made declaration of purpose which was based on the new service that orange has provided for orange and non orange customers using smartphones
The Chief Executive Officer of orange money Mr David Mansaray in his statement preceding to the launching ceremony expressed how excited he was to launch this new service and elaborated on the journey of orange money from it insignificant stage to now that is making waves in the nation and other nations.
He talks about their challenges and the success they are now enjoying.
In his concluding statement he announce that the reason for the auspicious summoning is to launch the Orange Money app with the feature orange money for all, adding that before the launch only orange customers can have access to orange money but they are changing it in order to enable non orange customers have access to their finance using orange money service with any network that is applicable in the country.
Madam Alimatou Mbaye Commercial Director of Orange Sierra Leone congratulate the team for a job well done, she express that her team will also do their part to market the service.
The chief marketing officer Mr Abdoulaye Dia also told the audience that orange believed in invention and innovation as the orange money team are working tirelessly to support digitalization and access to mobile money.
Abiabatu Baxter, take the audience through the App Demo on how to access it on smartphones and she explained the prerequisites for using the app.
She admonishedthe audience to first download the app and use it on any other sim.
she further explain how it work.
To get the app on your phone you first have to download orange money Africa which applies for both android and Iphone users.
Upon Opening the app it will ask for your number to check if you are registered or not.
Then it will command you to read the terms and conditions, after which it ask for your details which includes your full name and Identification Number, then it will send you a summary of your personal details been entered for confirmation and you can change the password from it default to one your are comfortable using.
climaxing the meeting question and answer session was moderated by madam Baxter whiles the head of direct sales Bollor T Sesay made the closing courtesies and emphasized for their influencers to make the message go viral.
Registration Challenges are Delebrate
Most elections across the world are not rigged on polling day. Governments and election management bodies rigged elections before the actual day of voting and what the SLPP is doing in the ongoing registration process is no different.
All the plethora of complaints floating on social media is a well calculated ploy by the SLPP to discourage and disenfranchised registrants in the opposition All Peoples Congress-APC strongholds. The number of complaints relating to registration challenges coming from the Western Area and the North are enormous compared to the isolated ones coming from the Southeast.
There are no complaints of faulty computers or lack of power to charge computer batteries coming from the Southeast. There is a video making the rounds on social media in which the former Minister of Foreign Affairs and Ambassador to the United Nations and now Ambassador to Egypt, Dr Alie Kabba talking about the registration process. If the content of that video is anything to go by, all the hiccups and challenges in the registration process are well planned by the government and EC-SL.
The ruling Sierra Leone People’s Party-SLPP took a bill to parliament with a clause requiring people to show National Identification Numbe-NIN before registering them during the registration process. The opposition Members of Parliament vehemently kicked against it and it was expunged from the bill, but ECSL staff are still asking people in the Western Area and the North to produce the same document that was expunged from the bill. This is the first time in the history of elections and democracy in Sierra Leone for people to encounter such man made and cumbersome challenge in registration.
President Julius Maada Bio and his supporters are all over the place telling Sierra Leoneans that they have fulfilled all that is contained in their 2018 manifesto and what their government is now giving us bonus. That statement is the most provocative and insulting one a politician to have ever spewed in our political history. Insulting the collective intelligence of Sierra Leoneans is deja Vu for Maada Bio and his supporters. Even Paul Kagame of Rwanda will not tell his people that he fulfilled all his manifesto promises. The most talked about free quality education is a sham and deception as parents and guardians are spending more money than when they were paying school fees.
If President Julius Maada Bio is really sure to have fulfilled all his manifesto promises, then let him allow the people to register and vote him for a second term. You cannot say you have fulfilled all your manifesto promises but you are deliberately disenfranchising thousands of people form exercising right to register.
Most right thinking Sierra Leoneans know the game plan of the SLPP. The SLPP don’t want the registration figures to expose the their sham and disgraceful census figures that they said Kenema District is more populated than Western Area Urban.
The other deliberate attitude of the ECSL staff to discourage and disenfranchised registrants is the unusual two hour lunch they always go for. How can they go for a two hour lunch and only to return and tell people the computers have run out of power and there are no spear batteries if it is not a deliberate ploy to disenfranchised them? The procurement of those computers and software equipment for the voter registration should be investigated if he there was a better and people focused Anti Corruption Commission. The incompetence of those operating the computers and of software equipment is another ploy employed by the ECSL to delay the process especially in the Western Area and the North. A National Elections Watch-NEW official was saying on the popular Africa Young Voice program- ‘AYV on Sunday’ that his institution used to observe the recruitment process of ECSL staff on voter registration over the years, but they were never allowed to observe and monitor the recruitment of the current staff working in the voter registration process. They refused to process to be observed because the recruitment was not on merits but on connection, tribalism and political patronage and now people are suffering the gross incompetence exhibited by those staff.
Please President Julius Maada Bio, allow the people to register and vote you for a second term.
Orange SL Hands Over Brand New Car To Lucky Winner.
By Feima Sesay
One of Sierra Leone’s leading telecom operator, Orange-SL, on Saturday 17th September 2022, at the company’s Rawdon Street branch customer care center in Freetown officially handed over a brand new Toyota Corolla car after conducting a transparent electronic draw.
Orange SL has been running a prize draw called “Points Up” in which customers receive one point every time they recharge their account by SLL, 2,000.
During the program, a draw was made for five other finalists for weekly winners, where each person won one million Leone each, before the commencement of the grand draw.
The winner, Mansaray, a resident of Waterloo stated that orange SL is the best mobile company in the country, adding that the company is not only operating in Sierra Leone to do business and make profits but it has provided lots of support to its customers.
Mansaray added that he was busy with his work at the IMATT community when he received the call informing him about the win.
Mansaray whose mobile number is 076959355, commended the company for putting their words to action.
“I have been an Orange customer for almost twenty years and this is my first win”, he said.
He however urged other customers to continue patronizing Orange, adding that the gift is from God.
His number was verified and proven that it was registered before the prize was handed over to him by Orange SL Chief Executive Officer Sekou Amadou Bah and the chief commercial officer.
However, five weekly draws were held on Saturday with the lucky winners grabbing Le 1 million each.
The president for Orange SL Women Martha Sumaila in a statement said that this was not the first time the company has engaged in such promo, furthering that they have given out five cars and a lot of cash in their last promotions.
She furthered that the ceremony is to deliver a brand new car to the lucky winner for his personal use.
Performance was done by I- Tribe, one of Sierra Leone’s finest musician, who entertained the invitees and non invitees before the grand draw.