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The World Bank has officially launched its Country Economic Memorandum (CEM), aimed at facilitating structured transformation and job creation in Sierra Leone as the nation strives for middle-income status.
At the launch event, Ecobank Sierra Leone Managing Director Sebastian Ashong-Katai joined a panel of government officials and private sector leaders to discuss critical economic issues. He highlighted the urgent need for improved financial inclusion, revealing that less than 35% of the population currently has access to formal financial services.
“Our goal is to raise that figure to 70%,” Ashong-Katai stated, underscoring the importance of broadening access to financial resources for all citizens.
He also introduced “Ellevate by Ecobank,” an initiative designed to empower women-led businesses, recognizing their significant role in economic development. Additionally, he pointed out the necessity of addressing low financial literacy levels in the country to enhance access to credit.
