Strengthening Trade Finance and SME Lending: SLCB Engages Afreximbank and Oakwood Green

Strengthening Trade Finance and SME Lending: SLCB Engages Afreximbank and Oakwood Green

Sierra Leone Commercial Bank Limited (SLCB) has taken another bold step in its transformation journey by engaging with Afreximbank and Oakwood Green to unlock new frontiers in trade finance and small and medium-sized enterprise (SME) lending. The strategic meeting held on 9th September 2025 marked a decisive turning point for the Bank and the country’s financial sector aligning Sierra Leone more firmly with the opportunities of the African Continental Free Trade Area (AfCFTA).

The engagement spotlighted one pressing issue: the need for clean trade finance lines that bypass the delays and complications of intermediary banks. Afreximbank acknowledged SLCB’s improved financial standing particularly its reduced Non-Performing Loan (NPL) ratio and confirmed that the Bank is well-positioned to handle large-ticket transactions. A major outcome of the discussions was Afreximbank’s commitment to extend an initial USD 10 million line of credit to SLCB. This facility will strengthen SLCB’s ability to underwrite trade finance operations empowering Sierra Leonean businesses to transact seamlessly across borders and giving them the leverage to tap into AfCFTA’s continental market.

Beyond big-ticket trade the partnership placed strong emphasis on SME lending. Recognizing that SMEs are the bedrock of Sierra Leone’s economy the parties agreed on the urgent need for a dedicated SME facility. This new line will not only improve access to credit but also prioritize women-led and youth-led enterprises thereby expanding financial inclusion boosting innovation and nurturing the next generation of Sierra Leonean entrepreneurs. From market women in Freetown to agro-processors in Bo and small-scale manufacturers in Kenema the ripple effects of this initiative promise to transform local economies and inspire new success stories.

SLCB’s integration into Afreximbank’s Africa Trade Gateway (ATG) was another key highlight of the meeting. The ATG is a cutting-edge digital platform designed to simplify trade processes reduce transaction costs and open continental markets to African businesses. By onboarding SLCB onto ATG clients will gain access to innovative tools for trade facilitation payments and due diligence. For Sierra Leone this means a faster smarter and more competitive approach to regional and international trade.

To deliver on these commitments the meeting outlined a series of operational steps including the completion of compliance and documentation requirements in line with Afreximbank’s international standards a KYC (Know Your Customer) refresh to reinforce due diligence across the client base a comprehensive review of SLCB’s 2024 financials as part of the due diligence process and agreement on timelines and milestones to ensure prompt execution. These measures reflect SLCB’s determination to not only secure access to facilities but also to strengthen governance compliance and operational readiness in line with global best practice.

Speaking at the conclusion of the meeting Mr. Moses C. Sesay Director of Business Development at SLCB expressed gratitude to Afreximbank and Oakwood Green for their support while reaffirming the Bank’s commitment to swift action. “This isn’t just about a facility or a platform; it’s about unleashing Sierra Leone’s trade potential. We are ready and implementation starts now ” he said. His remarks captured the momentum and the sense of urgency driving this partnership.

This collaboration firmly positions SLCB as a frontline financial institution in Sierra Leone’s economic transformation. By engaging with Afreximbank and Oakwood Green the Bank is not only expanding its capacity for trade finance but also championing SME empowerment digital innovation and inclusive growth. The significance is twofold: for Sierra Leone it means greater readiness to harness AfCFTA as a lever for economic diversification and regional integration; and for businesses it means faster access to finance broader market reach and stronger opportunities to scale operations beyond national borders.

The partnership between SLCB Afreximbank and Oakwood Green is more than a financial arrangement — it is a statement of intent. It signals that Sierra Leone is not content with being a spectator in Africa’s trade renaissance but is determined to take a seat at the table driving its businesses forward into a future of shared prosperity. With bold moves like this SLCB is writing a new chapter in Sierra Leone’s trade and financial history — one that is rooted in empowerment inclusion and continental collaboration.