DSTI and Bank of Sierra Leone Collaborate to Strengthen FinTech and Blockchain Innovation
Umu Bah The Directorate of Science, Technology and Innovation has held strategic meeting with the Governor and Directors of the Bank of Sierra Leone to improve the exploration of Web3 and blockchain technologies within Sierra Leone’s financial sector.
The meeting serves as a new chapter of collaboration between the two institutions, with the aim of strengthening the regulatory and technological framework necessary to support new innovations in financial technology.
DSTI previously supported the establishment of Bank of Sierra Leone’s FinTech Regulatory Sandbox in 2018, something that created a regulatory environment for testing innovative financial products and services. Building on that foundation, DSTI is now partnering with key organizations, including UNICEF and the Christex Foundation, to develop the institutional capacity required to responsibly explore new blockchain and Web3 use cases under the sandbox framework.
Based on the meeting held, the initiative shows commitment by the Government of Sierra Leone to enhance digital financial inclusion, foster responsible innovation, and make sure that technological advancement is in line with national development goals.
Some officials say the collaboration will focus on knowledge sharing, stakeholder engagement, and ensuring regulatory readiness to support the safe and effective use of new technologies in the financial ecosystem.