As Rokel Commercial Bank (RCBank) prepares for its 25th-anniversary celebration, the bank is expanding its Small and Medium Enterprises (SMEs) development programme, targeting market women, Okada riders, and Keke drivers in Freetown.

The Managing Director, Dr. Walton Ekundayo Gilpin, along with his team, recently visited the Salad Ground Market and the bustling Dwarzak intersection to strengthen partnerships and introduce new digital financial solutions aimed at grassroots businesses.

RCBank’s outreach is part of a broader strategy to bring banking services to the informal sector, which constitutes a significant portion of Sierra Leone’s economy. Since launching the SME programme in 2021, the bank has made strides in supporting small businesses across the country.

Now, by focusing on digital payment solutions like QR codes and the Rokel Simkorpor mobile payment app, RCBank is making it easier for market women, Keke riders, and Okada operators to accept payments without handling cash.

Speaking to the traders and riders, Dr. Gilpin emphasized the importance of integrating grassroots businesses into the formal financial system.

“Our vision is to take banking to the grassroots because these businesses are the backbone of the economy,” he said.

“We want them to understand that they can be part of the financial system by having bank accounts and receiving payments directly into those accounts.”

Dr. Gilpin also highlighted the convenience and security that digital transactions offer. He explained that by using the QR codes or USSD payment methods, even those without cash on hand can quickly make payments via mobile phones. This reduces the need for physical cash, minimizes wear and tear on currency, and alleviates the burden of standing in long queues at the bank.

RCBank’s digitalization efforts aim to make banking more accessible and efficient for everyone, with the ultimate goal of promoting financial inclusion across all sectors of the economy. “We believe that the informal sector holds the key to unlocking much of Sierra Leone’s GDP. By focusing on these businesses, we are connecting with the real drivers of the economy,” Dr. Gilpin added.

The Chairlady of the Vegetable Sellers at Salad Ground revealed that, based on information from the bank’s marketing staff, the institution offers an account known as the “Osusu Account,” which she described as highly beneficial for businesswomen.

She further explained that they often save their money with individuals who disappear without a trace, but with the Osusu Account, this problem would be resolved.

She also mentioned learning about the Visa Card, which makes payments easier when they travel abroad for business.

To secure the educational future of their children, she encouraged her colleagues to consider opening the “Kombra Account” with the bank.

The bank’s initiative was also warmly welcomed by Sorie Kamara, Vice Chairman of the Dwarzark Bike Riders Association, expressed his appreciation, noting how this system would improve security by reducing the need for riders to carry physical cash, which often attracts thieves.

He also emphasized that the ease of digital payments would help resolve frequent disputes between riders and passengers over fares.

As RCBank looks to the future, it aims to continue leading the way in digital banking, enhancing its services to better meet the needs of its customers while driving financial growth and stability throughout Sierra Leone.