ACTB Pushes Beyond Banking to Build Sierra Leone’s Next Generation of Millionaire Entrepreneurs

By Sahr Ibrahim Komba

232news –

A Call To Business Bank (ACTB) has expanded beyond traditional banking services with a renewed focus on building Sierra Leone’s next generation of millionaire entrepreneurs through financial inclusion, mentorship, networking, and business support systems.

The initiative brought together ACTB staff and clients from across Freetown and surrounding communities to discuss strategies aimed at strengthening both the bank’s services and the growth of customer businesses. The engagement was held at the New Brookfields Hotel in Freetown.

Speaking at the event, ACTB Chief Executive Officer, David Koroma, reaffirmed the institution’s commitment to supporting small businesses beyond conventional banking, emphasizing the need to create an ecosystem capable of nurturing entrepreneurs into future millionaires and billionaires.

During an interactive session with customers, business owners, and entrepreneurs, Koroma stated that ACTB’s vision extends beyond providing loans and opening accounts. Instead, the institution is focused on long-term business growth, mentorship, networking, and improved market access.

“We are not interested only in transactions. We want our customers to become the next generation of millionaires and billionaires in this country,” Koroma said.

He explained that ACTB categorizes its customers into micro-businesses, micro-enterprises, and Small and Medium Enterprises (SMEs), noting that the institution is committed to supporting entrepreneurs as they transition from informal businesses to fully formalized enterprises. He described the approach as a systematic, long-term relationship between the bank and its customers.

According to Koroma, many businesses remain stagnant for years due to limited guidance, inadequate support structures, and restricted access to opportunities.

“We don’t only want to give loans. We want to create an ecosystem where businesses can thrive, connect with markets, access suppliers, and grow sustainably,” he added.

Koroma further disclosed that ACTB has expanded its customer engagement initiatives nationwide, bringing together clients from branches across Freetown and the Northern, Eastern, and Southern regions to discuss challenges facing businesses and identify practical solutions.

He emphasized that listening to customers remains critical in designing products and services that respond directly to the realities entrepreneurs face.

“Training alone cannot make successful entrepreneurs. Discipline, networking, access to markets, and the right support system matter,” he noted.

Several customers and local business owners used the platform to share their experiences and outline challenges affecting business sustainability and expansion.

One ACTB customer operating a retail business recounted years of struggling with slow sales and limited capital despite being in operation for nearly eight years. The entrepreneur praised ACTB staff for their customer support but admitted that sustaining growth remains difficult.

“Business has been slow. Sometimes expectations are high, but when profits do not come quickly, capital becomes affected,” the customer explained.

The customer also highlighted challenges associated with importing goods from overseas, particularly from China, where attractive prices often encourage purchases, but shipping delays and financial constraints create setbacks.

Local business owner, Madam Mariama, raised concerns over prolonged shipping delays, explaining that imported containers sometimes remain uncleared for months, significantly increasing financial pressure on traders.

“When containers are delayed for four or five months, clearing them becomes difficult. We need flexible repayment periods and grace periods,” she appealed.

She urged ACTB to develop mechanisms that would accommodate genuine business challenges rather than treating delayed repayments solely as defaults.

Meanwhile, Mr. Caulker, a restaurant owner, stressed the importance of trust between financial institutions and customers, arguing that entrepreneurs require supportive relationships with loan officers and branch managers.

“It’s about commitment and trust. If businesses face challenges, there should be room for discussion and understanding,” the restaurant owner said.

He further commended ACTB’s customer service, describing staff as attentive, responsive, and supportive.

Throughout the session, speakers repeatedly emphasized the importance of networking among local businesses and supporting domestic enterprises.

Participants called for stronger collaboration among Sierra Leonean entrepreneurs, suggesting that local businesses should prioritize patronizing one another rather than relying heavily on foreign suppliers.

Koroma noted that creating stronger connections among entrepreneurs could help reduce costs, improve market access, and unlock new business opportunities.

“If businesses support one another, they can create stronger supply chains and expand together,” he stated.

The engagement concluded with calls for continuous dialogue between ACTB and its customers, with participants expressing optimism that such interactions would help shape financial products and services better suited to the realities of Sierra Leone’s business environment.

ACTB and its customers agreed that beyond access to loans, entrepreneurs require mentorship, strategic networks, market opportunities, and flexible financial support to achieve sustainable growth and contribute meaningfully to the country’s economic development.