West African Bankers' Association Hosts Major Meetings in Sierra Leone

The West African Bankers' Association recently hosted major meetings in Sierra Leone, a country with a growing economy and a strong financial sector.

The association's meetings brought together top banking professionals from across the region to discuss key issues affecting the industry.

These meetings provided a valuable platform for sharing knowledge and best practices, helping to drive innovation and growth in the sector.

One key outcome of the meetings was the signing of a Memorandum of Understanding between the West African Bankers' Association and the Bank of Sierra Leone.

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Waba serves as a forum for discussion of common problems among banks in the West African sub-region. It provides a platform for the exchange of information on banking practice.

The association aims to enhance the promotion and strengthening of links between banks in the sub-region. This is achieved through its intermediary role between banks and the West African sub-regional Committee of the Association of African Central Banks (ACCB).

Waba also plays a key role in policy advocacy for banks within the sub-region, with its headquarters located in Freetown, Sierra Leone.

The West African Bankers' Association (Waba) was created with the primary objective of providing and exchanging information on banking practices in the sub-region.

This serves as a forum for discussion of common problems, allowing member banks to share knowledge and experiences.

To enhance the promotion and strengthening of links between banks in the sub-region, Waba aims to facilitate collaboration and cooperation.

As an intermediary between banks and the West African sub-regional Committee of the Association of African Central Banks (ACCB), Waba plays a crucial role in facilitating communication and coordination.

Waba seeks to contribute to the development of commerce, industry, and agriculture in the sub-region and Africa as a whole.

The Association identifies available training facilities in the sub-region and disseminates information to member banks, promoting knowledge sharing and capacity building.

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The West African Bankers' Association (WABA) is organizing its 78th Executive Council Meeting and 42nd General Assembly in Freetown, Sierra Leone from August 8th-9th, 2024.

The event will be hosted by the Sierra Leone Association of Commercial Banks (SLACB) at the Freetown International Conference Hall.

Key speakers at the event include the Minister of Finance, Sheku Ahmed Fantamadi, the Governor of the Bank of Sierra Leone, Dr. Ibrahim Stevens, the President of WABA, Dr. Guy Laurent Fondjo, and the President of the Sierra Leone Bankers' Association (SLACB), Dr. Walton Ekundayo Gilpin.

The program will feature panel discussions on IFRS 9 for Directors, Cross-Border Settlement System, and Debt Management and Recovery.

WABA's Secretary General, Alhajie Geng, expressed delight at the commitments received from the Central Bank of Sierra Leone and the Sierra Leone Association of Commercial Banks in hosting the event.

The event will also include the reporting of WABA's financial accounting, annual audit reports, annual subscriptions, and the day-to-day running of the Secretariat.

WABA's dual role as a professional and political organization aims to safeguard the interests and viewpoints of its members while serving as a channel for communication between the Commission, ECOWAS States, and the Banking and Financial System.

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The West African Bankers Association (WABA) has a new Vice President II, Dr Walton Ekundayo Gilpin, a Sierra Leonean banker who also doubles as President of the Sierra Leone Association of Commercial Banks.

This appointment was made possible after Senegal's withdrawal from the association created a vacancy in the leadership structure.

Dr. Gilpin was nominated by WABA's Vice President I, Dele Alabi from Nigeria, and two Former WABA Secretary Generals – Alie Ceesay from the Gambia and Hanson Abosi from Nigeria.

His nomination was endorsed by the Registrar/Chief Executive Officer, Akin Morakinyo from the Chartered Institute of Bankers of Nigeria (CIBN).

The election of Dr. Gilpin as Vice President II was unanimous, taking place at the 78th Executive Council Meeting and 42nd General Assembly of WABA in Sierra Leone.

The event was hosted by the WABA Secretariat in collaboration with the Sierra Leone Association of Commercial Banks.

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The West African Bankers' Association has made significant strides in promoting regional trade and financial integration.

CBG Governor Buah Saidy has acknowledged the importance of supporting trade finance activities to unlock the potential for African trade.

Financial institutions have a key role to play in shaping the framework to facilitate financing within the region.

Banks have been leading the way with significant progress on several fronts, particularly in integrating the region's payment infrastructure.

This integration has become ever more relevant today, enabling the efficient flow of transactions across borders.