VIEWPOINT Letters:The Establishment of Branches of the Sierra Leone Commercial Banks Overseas (London) Posted by on Mar 21, 2008, 01:45

Dear Sir,

I have seen your article about the Nigerian First Guaranty starting banking operations in the UK.This is indeed is a step in the right direction for the Nigerians!!! Congratulations to them.

When, and would there be any plans, may be, in the distant future, for the Sierra Leone Commercial Bank, which I understand is wholly owned by the Government and people of Sierra Leone establishing similar operations overseas, particularly in London the world financial centre?

I appreciate this may not be quite feasible at the moment in view of the precarious economic situation in Sierra Leone, coupled with the more vital and immediate needs waiting to be tackled. Do you know whether the Bank has got any such intention in their strategic plans for the future ,  overseas branches?

I am of the opinion that if such overseas branches are  established, Sierra Leonean would be so highly delighted and proud to support their indigenous bank, it would boost trade and investment for the country and provide desperately needed foreign exchange reserves.

This all said,  though there may be insurmountable difficulties in achieving this goal, I think this idea amongst others should remain paramount on our minds, notwithstanding what the views of the pessimists might be. You might want to give this idea some prominence in your journal which is widely read in the UK, and elsewhere.

Mr  Edmond Browne

(UK