By Ralph Sesay
Sierra Leone’s leading GSM network, has signed an MOU with the largest economic community in the country, the Sierra Leone Commercial Bike Riders’ Union in Freetown over the weekend.
The well-loaded MOU is geared towards ensuring that motor bike riders who are believed to be everywhere in the country are used as Africell money agents to help provide Africell money services in the nook and cranny of the country.
Chief of Corporate Affairs Africell, Joe Abass Bangura, while delivering the keynote address at the ceremony stated that the MOU is critical in pushing through efforts to penetrate financial services into hard to reach areas in the country.
‘’This step from Africell is a direct response to Government and the Bank of Sierra Leone to fulfill the aspirations of the National Financial Strategy,’’ Mr.Bangura stated.
He continued that studies have proved that there is a direct correlation between growth in financial inclusion and growth in the GDP of a country.
Published studies, according to him, have confirmed that 80% of adult Sierra Leoneans are financially excluded.
‘’…they do not have access to formal financial services’’. The cost of providing formal banking services in some places, he reiterated, is very high and therefore unsustainable. The most effective means of reaching these areas is through mobile financial services,’’ he added.
The details in the well-loaded MOU provided the Sierra Leone Commercial Motor Bike Union five thousand (5,000) Africell Life Insurance policies worth two Hundred and fifty million Leones.
This as per the MOU should be equitably distributed across the membership of the union.
Africell as per the MOU also provided thirty million Leones (Le30, 000, 000) to support the incoming constitutional review process of the union expected to hold soon in the east of the country.
The MOU also provided non-cash items and printed materials to further support the constitutional review process of the Union.
Africell Radio, Airadio will also provide airtime to the Commercial Bike Riders’ Union to raise sensitization on their activities ahead of the constitutional review process.
The Sierra Leone Commercial Motor Bike Riders’ Union in turn is expected, according to the MOU, to use their members across the country to penetrate hard to reach areas with Africell Money services.
The Sierra Leone Commercial Bike Riders’ Union is, amongst other things, expected as per the MOU to identify and provide reliable members across the country to serve as agents; identify and provide members to be used on the marketing collaterals etc.
Victoria Mamamh, Africell’s Life Insurance Products and Services Manager, disclosed that the company is giving the Commercial Bike Riders Union a total of five thousand (5,000) life insurance policies and that the beneficiaries of the policies are entitled to $1,000.
Africell, according to her, would be parting with two hundred and fifty million Leones an an equivalent of five million United States Dollars for the five thousand (5,000) insurance policies given to the union.
Mohamed Tally Bah, President, Sierra Leone Commercial Motor Bike Riders’ Union stated that their union was looking for opportunities to change the narrative and welcomed the initiative from Africell.
He assured the Management of Africell that they will work towards their aspirations as a company.
Mr. Bah boasted that they have the numbers and the required reach to increasingly ensure that Africell’s money services are extended to the nook and cranny of Sierra Leone.
Representatives of the union from all the regions in the country including the national chairlady made statements at the ceremony assuring Africell that they will measure up to their expectations.
The climax of the ceremony was the presentation of the five thousand insurance policies to the President of the Commercial Motor Bike Riders Union and the signing of the MOU.
A representative from Africell explained the steps required to get Motor Bike riders to sign up with the Africell money service.
Members of the Union were urged to sign up for the Africell money service to be able to catch up with the Africell money services and the Life Insurance policy.
Driving the Financial Inclusion Revolution… Africell Signs MOU with Commercial Bike Riders’ Union
