World Bank Launches Economic Memorandum to Boost Sierra Leone’s Job Creation and Financial Inclusion
Kadijatu Barrie 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.
