By Abu Bakarr Bangura
The Bank of Sierra Leone (BSL) has successfully concluded its float parade in Port Loko District, marking the final stop in its nationwide campaign to promote the Salone Payment Switch Instant Payment platform. Earlier stops included Bo, Kenema, and Makeni. The aim of the campaign was to raise awareness about the platform, which enables seamless transactions across all banking and mobile money services in Sierra Leone.
The event in Port Loko saw the participation of several key financial institutions, including Sierra Leone Commercial Bank, Vista Bank, Zenith Bank, and Eco Bank, along with mobile money operators Africell and Orange, all showing their support for the initiative.
Distinguished guests at the event included the Governor of the Bank of Sierra Leone, Dr. Ibrahim Stevens; Deputy Governor Sheikh Alhaji Yayah Sesay; Managing Director of Rokel Commercial Bank, Ekundayoh Walton Gilpin; the Resident Minister; the Paramount Chief; and other local chiefs.
In his address, Governor Dr. Ibrahim Stevens reflected on the progress Sierra Leone has made in its journey toward financial inclusion, beginning in 2007. He pointed to key milestones such as card switching and the recent introduction of instant payments, which allow for real-time financial transactions across various banking and mobile platforms.
Dr. Stevens urged citizens to register for the Instant Payment platform, highlighting its numerous benefits. He thanked the country’s banks and mobile operators for their collaboration and commended the Bank of Sierra Leone staff for their hard work. He also announced that the official launch of the Instant Payment platform is scheduled for February 13, 2025.
Rokel Commercial Bank’s Managing Director, Ekundayoh Walton Gilpin, praised the Bank of Sierra Leone for its leadership in promoting instant payments, describing the move as a vital step toward a cashless economy. He emphasized the advantages of digital transactions, including enhanced security, greater financial efficiency, and convenience.
Resident Minister Ambassador Umaru Bun Wurie also commended the Central Bank for its efforts to digitize financial transactions, pointing to the success of other countries that have embraced cashless economies. He expressed optimism that Sierra Leone would reap similar benefits.
With the platform now live, individuals and businesses are encouraged to register for instant payments through their banks or mobile money operators. The initiative is expected to transform financial transactions in Sierra Leone, promoting financial inclusion and contributing to the country’s economic growth.