By Jariatu S. Bangura
Rokel Commercial Bank (RCB) has been recognized as one of Sierra Leone’s most successful State-Owned Enterprises (SOEs), reflecting its strong financial performance, strategic growth, and commitment to national development.
The commendation came from Hon. Daniel Koroma, Deputy Opposition Leader 1 in Parliament, who praised RCB’s transformation into a model institution for other SOEs in the country. He also acknowledged Sierra Leone Commercial Bank and National Petroleum (NP) for their significant contributions to the economy.
Hon. Koroma, a strong advocate for economic growth and public sector efficiency, highlighted RCB’s impressive turnaround, emphasizing that its success is proof that state-owned enterprises can thrive with the right leadership, strategy, and corporate governance.
“The success of Rokel Commercial Bank and others demonstrates that SOEs can be viable and contribute meaningfully to Sierra Leone’s economic development if supported with the necessary financial resources. The bank has not only increased its profitability but has also played a significant role in financial inclusion and national progress,” Hon. Koroma stated.
For years, many state-owned enterprises in Sierra Leone have struggled due to financial mismanagement, inefficiency, and lack of innovation. However, RCB has defied the odds, proving that government-backed institutions can be both profitable and beneficial to the public.
The bank has recorded steady financial growth, expanding its revenue and asset base while continuously improving its services. With a growing network of branches and digital banking platforms, RCB has strengthened its position as a leader in the financial sector.
Several factors have contributed to Rokel Commercial Bank’s achievements, including consistent increased its revenue and expanded its assets, positioning itself as a stable financial institution, introduction of digital banking solutions has enhanced customer convenience and accessibility, regaining the trust of depositors and businesses, attracting more customers and boosting financial stability and a competent management team and effective corporate policies that have driven the bank’s progress.
Hon. Koroma emphasized that RCB’s success should serve as a blueprint for other state-owned enterprises in Sierra Leone. He urged SOEs to embrace accountability, innovation, and customer-focused strategies to drive national growth.
“For Sierra Leone to develop, all SOEs must operate efficiently and contribute meaningfully to the economy. Rokel Commercial Bank has shown that with dedication and the right policies, state-owned institutions can become both profitable and impactful,” he said.
