Rokel Commercial Bank and Vult by Metro Cable Team Up to Revolutionize Financial Access in SL

On December 9, 2024, Rokel Commercial Bank and Vult by Metro Cable launched a transformative partnership aimed at advancing digital financial inclusion across Sierra Leone. The collaboration promises to revolutionize how citizens access financial services, focusing on innovative solutions to bridge gaps in banking access and empower underserved populations.

In an official statement at the launch event, Dr. Walton Gilpin, Managing Director and CEO of Rokel Commercial Bank, expressed his enthusiasm for the partnership’s potential to transform the country’s financial landscape. “We are committed to ensuring that every Sierra Leonean has access to reliable, efficient, and secure banking services. This partnership with Vult enables us to reach people who have been excluded from traditional banking systems, providing them with the tools they need to manage their finances,” he said.

The partnership will integrate Vult’s mobile payment solutions with Rokel’s banking services, creating a seamless platform for users to access banking tools, make payments, and transfer money, both domestically and internationally.

Vult’s Chief Operating Officer, Pierre Johnson, took the stage to explain the vision behind the company’s digital platform. He highlighted that Vult’s mobile app allows users to easily send and receive money, purchase goods and services, and conduct cross-border transactions using a secure digital wallet.

“What we’ve created is a truly accessible financial ecosystem. With just a mobile phone and an internet connection, people can open digital wallets, make payments, and transfer money both in Sierra Leone and beyond,” Johnson explained. He also emphasized Vult’s focus on security, ensuring users’ data and transactions are protected through advanced encryption technology.

Vult’s platform has been gaining momentum in Sierra Leone, with more than 200,000 downloads and over 13,000 active users since its launch. The company has also established partnerships with Mastercard and Money-Me, expanding its reach to offer cross-border money transfer solutions.

Abdul Salam Kallon, Head of Compliance at Vult, spoke about the company’s focus on fostering trust among users. “Financial inclusion is not just about offering a service; it’s about creating an environment where people feel secure in managing their money,” he said. “That’s why we’ve prioritized robust security features and easy-to-use interfaces, allowing users to take control of their financial lives with confidence.”

David Pakima, Founder and CEO of Vult, explained how the partnership with Rokel Commercial Bank aligns with their long-term goals for digital financial inclusion. He noted that Vult’s growth was built on the success of Metro Cable, which made Freetown one of the best-connected cities in Africa. “From the beginning, our mission has been to provide cutting-edge digital tools to communities that need them the most. By collaborating with Rokel, we can offer even more opportunities for financial independence.”

Pakima emphasized the value of the partnership, stating, “Rokel brings a wealth of experience and a shared vision to the table. This collaboration will allow us to provide an integrated solution that empowers people to access banking services, make payments, and manage their money in ways that were previously unavailable to them.”

The launch of this partnership is part of a broader effort to integrate more people into the formal financial sector, with an emphasis on affordability, security, and ease of use. Dr. Gilpin stressed that the collaboration would significantly reduce the barriers to banking for underserved populations in both urban and rural areas.

“The future of banking in Sierra Leone is digital. With this partnership, we are ensuring that no one is left behind,” he said.

Looking ahead, the partners plan to expand the service to additional regions, with an eye toward increasing the number of users and driving greater adoption of digital financial tools.

“This is just the beginning,” Dr. Gilpin concluded. “Together, we are laying the foundation for a more inclusive and digitally connected Sierra Leone, where everyone has the opportunity to participate in the financial system.”