Date: 9th September 2025
Venue: Meeting with Afreximbank / Oakwood Green & Sierra Leone Commercial Bank (SLCB) Management
The Sierra Leone Commercial Bank (SLCB) team engaged in a high-level meeting with representatives from Afreximbank and Oakwood Green, focusing on expanding trade finance opportunities and enhancing SME lending. The discussions mark a pivotal step in strengthening SLCB’s capacity to support Sierra Leone’s private sector under the framework of the African Continental Free Trade Area (AfCFTA).
Key Highlights of the Meeting
Trade Finance Opportunities
The meeting underscored the urgent need for a clean trade finance line, free from the complications and delays often associated with intermediary banks. Afreximbank’s representatives noted SLCB’s strong financial position, including its reduced Non-Performing Loan (NPL) ratio, which positions the bank to handle large-ticket transactions with greater confidence.
As a major outcome, Afreximbank’s Director of Products and Execution confirmed acceptance of a USD 10 million line of credit as an initial facility. This line is expected to serve as a catalyst for boosting SLCB’s trade finance operations, facilitating cross-border transactions, and empowering businesses to leverage the AfCFTA’s continental market opportunities.
SME Lending and Financial Inclusion
Recognizing the central role of SMEs in Sierra Leone’s economy, the meeting emphasized the importance of establishing a dedicated SME lending line. Such a facility will allow SLCB to expand credit access for entrepreneurs, particularly women and youth-led businesses, and to provide tailored financial products that support business growth, innovation, and market expansion.
Operational Considerations
To ensure a smooth rollout, the discussions covered:
• Documentation and requirements for engagement to meet Afreximbank’s compliance standards.
• The need for a KYC (Know Your Customer) refresh to align with international regulatory requirements.
• A review of SLCB’s 2024 financials as part of the due diligence process.
• Submission of timelines, with priority placed on concluding initial steps within the agreed timeframe.
Africa Trade Gateway (ATG) Integration
The meeting also introduced SLCB to the Africa Trade Gateway (ATG). Afreximbank’s flagship digital platform designed to facilitate trade facilitation, payments, and due diligence across Africa. Onboarding onto the ATG platform will give SLCB access to innovative digital tools that simplify trade processes, reduce transaction costs, and provide clients with greater access to continental markets.
Closing Commitments
In his closing remarks, SLCB Director of Business Development, Mr. Moses C Sesay, thanked the Afreximbank and Oakwood Green teams for their constructive engagement and reaffirmed SLCB’s commitment to delivering on agreed milestones. He assured that the process to operationalize the trade finance line and SME lending facility will be kick-started immediately, setting the stage for a robust partnership.
Strategic Significance
This development positions the Sierra Leone Commercial Bank as a frontline financial institution driving trade facilitation, SME empowerment, and economic diversification in Sierra Leone. By aligning with Afreximbank and Oakwood Green, SLCB is not only expanding its financial capacity but also reinforcing Sierra Leone’s readiness to leverage the AfCFTA framework for inclusive and sustainable growth.
