Ecobank Sierra Leone and British International Investment (BII) marked a significant milestone in their investment partnership with a celebration dinner held on Wednesday, May 7, 2025, at Lagoonda, West of Freetown. The event commemorated the successful disbursement of the first round of funding aimed at revitalizing Sierra Leone’s real economy.
The event drew senior dignitaries, including the British High Commissioner to Sierra Leone, H.E. Josephine Gauld, along with representatives from BII, business leaders, and Ecobank clients.
At the heart of the evening was Ecobank’s renewed focus on long-term, development-driven investments, steering away from short-term, high-yield financial instruments like treasury bills.
Ecobank Managing Director, Sebastian Ashong-Katai, emphasized the bank’s strategic shift during his remarks. “We didn’t take the money from BII and buy treasury bills,” he stated. “We’re investing it in the real economy.”
Ashong-Katai underscored the partnership with BII—formally launched in October 2024—as a transformative extension of an existing relationship. The collaboration includes both funding and technical assistance, bolstering Ecobank’s capacity to target underfinanced sectors and drive sustainable growth. Priority projects include green energy, gender-based financing, and critical infrastructure such as water systems and renewable energy networks.
Impact Already Visible
The impact of the initiative is already evident. Tamba Sesay, Business Development Manager at BSB International, shared how his company benefited from a facility exceeding all previous funding received since its inception. Thanks to BII’s $1.6 million contribution, supplemented by Ecobank, BSB International is now positioned to expand its operations.
“This partnership with Ecobank is more than just a financial arrangement; it’s a strategic alliance,” Sesay said. “They are not just bankers—they are partners who are committed, accessible, and supportive.”
Similarly, Saad N. Saad of Saad Group Sierra Leone Limited highlighted how the funding is transforming their operational capacity. The financing will enable the construction of new warehouses, boost employment, and increase community investment.
“This partnership empowers us to achieve our goals and contribute meaningfully to the local economy,” Saad noted.
A Breakthrough for Private Sector Financing
Alex Kucharski, BII’s representative, described the initiative as a pioneering effort in one of the world’s most underfinanced private sectors. He noted that only about $60 million in private sector loans are disbursed annually in Sierra Leone, making the Ecobank-BII facility a critical intervention.
“Ecobank is the first to offer long-term loans—three, four, five years—for businesses here,” Kucharski said. “This is not business as usual. It’s a strategic breakthrough that is already inspiring similar models across Africa.”
British High Commissioner Josephine Gauld commended the partnership as a significant step forward in the UK’s Africa Resilience Investment Accelerator initiative. She emphasized the importance of local currency financing and long-term loans in markets like Sierra Leone, where access to finance remains a formidable challenge.
“It is encouraging to see this facility delivering tangible results so soon after its launch,” she stated. “The level of commitment at BII and across the UK government reflects a strong belief in Sierra Leone’s economic potential.”
Empowering Business-Led Development
Victor Williams, Head of Commercial Banking at Ecobank Sierra Leone, reaffirmed the bank’s strategic focus on enabling business-led development. With the $25 million risk-sharing agreement in place, Williams urged more businesses to leverage the opportunity.
“This is about unlocking private capital for high-impact sectors like agriculture and renewables,” he said. “We are proud to be leading this change.”
As the evening drew to a close, a clear message resonated: Sierra Leone is no longer on the sidelines of investment conversations. With bold partnerships and a shared vision for sustainable economic transformation, the country is poised to redefine its narrative—one loan, one project, and one business at a time.
By Feima Sesay
