Commemorating SLONEC’s First Year Anniversary, RCBank Top Management has participated in SLONEC Business Seminar on Tuesday 30th April, 2024 at the Freetown City Council.

SLONEC is an accountancy and consultancy firm that specializes and provides a wide range of accountancy and consultancy services to individuals, businesses, and organisations within Sierra Leone and beyond.

Dr. Walton E. Gilpin Managing Director of RCBank served as the Guest Speaker for the Buisness Seminar with the theme let’s celebrate and Excel in Business. Dr, Gilpin presented along side with the founder and CEO of SLONEC Mr. Ishmail Bangura, Manager and Tax guru at NRA Matilda Z. Kamara and Dr. Alpha Grace (Founder & CEO of CHANGEYOURSELF).

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The Managing Director of RCBank Staged a PowerPoint Presentation on Navigating Loan Financing for SME’s and Avoiding Business Failures. Under key topics like National Public Debt Securities cycle, The Lending cycle and Access to Finance, Loan Cycle, Loan recall, Loan maturity, Cancellations and Restructuring, his presentation objectives focused on understanding the basic debt terminology in the loan cycle, Relationship between stages in the loan cycle and data requirement which could help reduce incidence of delinquency.

Speaking on the issue of granting loans, Dr. Gilpin states”debt collection is in trouble- especially when it comes to the delinquent credit. According to figures from the International Monetary’s fund‘s Global Financial Stability Report non-performing loans make up 3.925% of total gross global loans,”

Mr. Adikalie S. Kamara, Head of Operations at RCBank pointed out that the essence of the Banking system is to bring safety and soundness of the financial sector adding that there is low public understanding about loan initiation and the importance of the financial sector. He pointed out that there is a stand out guidelines by the Central Bank not to have more than 10% of loans in nonperforming category as it would be described as a delinquent loans, He applauded SLONEC as a new Financial Company set up by Sierra Leoneans to come together to contribute to enhance the financial sector.

Mr. Ishmael Bangura, CEO of SLONEC thanked the Management and Staff of RCBank for gracing the occasion. He reflected that while growing up he realized that he has to make a change and contribution to society.

He reflected on his experience in the United Kingdom and commented on what countries of the Western World are doing positively and differently. He revealed, he discovered one of the reasons why the Western Countries are far ahead of us it’s because they value the things we take for granted
He cited that one of the things that sometimes people take for granted back home is integrity, which he intends to bring and to uphold it as a core value in the financial sector.

Head of Public Relations, RCBank Mr. Aruna Dumbuya pointed out in his Public Lecture that Integrity, Objectivity, sustainability, professional competence, sincerity and probity are all core values that enhance the banking sector to thrive. He acknowledges the need for people in the financial Sector to imbibe all these qualities because the absent of some of these ethical conducts then we would not have people who will manage the finances of this country.

He emphasiszed on the need for customers that will enhance the availability and procedures of securing a loan adding that the Bank Prioritizes financial literacy in a bid to enhance customers Protection. He affirmed that over the years, the leadership of RCBank have been doing public Lectures at Universities and in Public Places both national and International, which is a core value of the Sierra Leone National Strategy for Financial Inclusion (NSFI 2022-2026).

He added that as a bank, they have seen how climate Change and environmental issues are impacting the world adversely, and it is so important that the country embraces urgent actions for positive climate change.

Mr. Dumbuya expressed thanks and appreciation to the SLONEC Management for the Invitation and assured the Bank’s unwavering commitment to respond to their call and to other institutions that will contribute positively to the Development of Sierra Leone.

RCBank – The Bank of Choice!!