Rokel Commercial Bank Executives Explore Partnership Opportunities with Equity Bank in Rwanda
A high-level delegation from Rokel Commercial Bank, consisting of Chairman of the Board of Directors Buffy Bailor, Managing Director Dr. Walton E. Gilpin, and Director of Finance Abassie Thomas, has traveled to Kigali, Rwanda, to discuss potential collaboration and partnership with Equity Bank. The visit aims to strengthen bilateral ties and explore new investment opportunities between the two financial institutions. The delegation is also participating in an important seminar organized by the Rwandan Institute for Capacity Development, which focuses on financial management training for top executives, enhancing their professional and intellectual capabilities.
Speaking from Kigali, Dr. Walton Ekundayo Gilpin emphasized the significance of engaging with larger financial institutions and the necessity of broadening the management team’s horizons to adapt to emerging trends in the financial sector. He highlighted that the collaboration with Equity Bank could unlock substantial investment opportunities, further contributing to Rokel Commercial Bank’s phenomenal growth over the years.
“Apart from the immense growth potential that would be garnered from our potential collaboration with Equity Bank, it is also very important for us to learn and return home to implement those strategies that have contributed to turning these financial institutions into global giants,” Dr. Gilpin remarked.
Equity Bank, under its parent body Equity Group Holdings headquartered in Kenya, has been ranked as the second strongest brand globally in 2024. In Rwanda, the bank operates a total of 47 branches and is part of a larger conglomerate of commercial banks in Kenya, Uganda, Tanzania, South Sudan, the Democratic Republic of the Congo, and Ethiopia. This extensive network provides a robust platform for potential collaboration and shared growth.
During their visit, the Rokel Commercial Bank team also visited I&M Bank, a subsidiary of I&M Group PLC, a leading financial banking group in Eastern Africa with operations in Kenya, Mauritius, Rwanda, Tanzania, and Uganda. This visit aimed to explore additional avenues for collaboration and to gain insights into the successful strategies employed by I&M Bank.
Dr. Gilpin underscored the importance of learning from the experiences of successful financial institutions like Equity Bank and I&M Bank. He pointed out that the knowledge gained from these engagements would be invaluable in implementing strategies that can drive Rokel Commercial Bank’s growth and transformation.
Rwanda, like Sierra Leone, is a post-conflict country that has achieved remarkable economic transformation over the past few decades. Financial institutions such as Equity Bank have played a pivotal role in this development, providing essential financial services and fostering economic growth. Dr. Gilpin noted the parallels between Rwanda and Sierra Leone, emphasizing the potential for similar transformative progress in Sierra Leone’s financial sector.
The seminar organized by the Rwandan Institute for Capacity Development provided an opportunity for the Rokel Commercial Bank team to enhance their skills in various levels of financial management. This training is expected to equip the bank’s top executives with the knowledge and tools needed to implement effective financial strategies and drive sustainable growth.
Dr. Gilpin expressed optimism about the potential outcomes of their visit, stating that the collaboration with Equity Bank and the insights gained from the seminar would significantly contribute to Rokel Commercial Bank’s mission to expand and innovate within Sierra Leone’s financial sector.
The visit to Rwanda and the engagements with prominent financial institutions underscore Rokel Commercial Bank’s commitment to seeking out strategic partnerships and learning from global best practices. This proactive approach is aimed at ensuring the bank remains at the forefront of financial innovation and continues to play a leading role in Sierra Leone’s economic development.
