Sierra Leone:Union Trust Bank opens 8 Branches

By Bai-Bai Sesay – Union Trust Bank (UTB) can now boast of eight branches including the opening of the Njala branch in the Kori Chiefdom, Moyamba District, last Friday in the country.

The founder and chief executive officer of the bank, Mr. James Sanpha Koroma, said the opening of a branch at Kori Chiefdom and Njala University is geared towards enhancing sustainable banking environment in the socio economy development of the country; adding that UTB will help easy access to the people and students of the college in the banking system.

He said the bank is not here as a waiter to receive deposit but to create employment for people more especially students in their schooling system.  He said students can now access a saving system called students and graduates account where students can save their school fees or receive monies through the bank.

He said the bank coming to N’jala will help the growth of the District by accessing funds for agricultural activities, adding that the Bank want to see people develop in farming and Agro researchers.  He said the bank has a scheme such as loans for students and graduates accounts, and also that people can benefit 24 hours access to internet banking, advances against government grants and bursaries and at the end of academic year (opportunity to win one year tuition fees)  by opening an account of One Hundred Thousand Leones.  He encouraged the students and people of Kori chiefdom and Moyamba Districts to make the dreams of the agenda to development.

Minister of Trade and Industry, David Carew, thanked UTB for the great opportunity created for the people of the district. He said the president of Sierra Leone has reaffirmed his commitment to the private sector, which was part of government’s Agenda for Change.  He said UTB has helped greatly in the development process of the country by creating a system for the poor.  He said the private sector has helped in bringing Sierra Leone into the development arena compared to the past when the country was ranked to last on the UN development index.

He said UTB will continue to support the people of Sierra Leone in improving the lives of ordinary people, adding that the government will continue to support the bank and encourage the people to for doing business with UTB. He encouraged other banks to replicate the same.

Paramount Chief of Moyamba district, Thomas Gbepi, said Kori chiefdom which has 14 chiefdoms welcome the gesture of UTB and James Sanpha Koroma.  He said N’jala has only the Sierra Leone commercial bank and now that with the opening of UTB branch there it will allow competition in the development of the district.

He said the people will now advance in the development aspect, adding that the district is proud of UTB created, and encouraged the government and private sector to develop water supply in the district.

Deputy Chancellor, Professor Andrew Baimba, said N’jala is proud to have such development as this will enhance community development. He said the university has included department in entrepreneurship as part of its studies. He said despite the university was destroyed during the war not it is back in function, adding that banking is very important in the cosmopolitan system of university. He applauded David Carew, Sam King and James Sanpha Koroma for the wonderful gesture and the goodwill to make N‘jala a proud university.  He encouraged them to help develop the university.

Other statements were made by Dr Sheku Tejan Kamara chairman board of Directors and Wilfred Sam King. School materials were donated to primary and Secondary school at N’jala.