Sierra Leone Commercial Bank (SLCB) in collaboration with Africel yesterday unveiled mobile wallet to Bank account ‘vice versa’ system. The system will ensure Africel subscribers have access to move money from their Bank account at SLBC directly to their Africel money account and also move money from they wallet to the Bank account at any time of the day and also check their accounts balance. According to the National Financial Inclusion Strategy released by the Bank of Sierra Leone, 80% of Sierra Leoneans do not have access to financial services in the country. Studies have also shown that there is a direct correlation between the rate of financial inclusion and a country’s GDP.
The Sierra Leone Commercial Bank Managing Director, Fidelis Turay, disclosed that Africel and SLCB have a strategy to improvethe country’s financial inclusion by introducing the ‘Bank to wallet,’ system which will help bring people to financial inclusion. Government to people is another project with Africel where by people can move money using their bank account which is what they are partnering with Africel. He said they are currently working on the ‘Government to people’ system project that will soon be completed to enable government employees to access their accounts using Africel money and also check their accounts across the country seven days a weeks. “We moving towards a cashless society that will bring speed, ease of stress and bring confidence in the people moving around peacefully with their monies in their phone’” he assured.
The Chief Corporate Affairs Officer at Africel, Joe Abass Bangura, maintained Africel is pleased to partner with SLCB in the process of making life simple for both their subscribers and banking customers who can proudly move with their monies in their phones. “This is the first time something like this is happening in the country,” he said, disclosing that presently Africel have over 4million subscribers who will benefit from this package at a very reasonable rate. He disclosed that with the mobile wallet to Bank account system, one can transfer from Le 1,000 to Le 15m as the case may be with the Africel mobile money transfer system – helping people transfer money at a very fast and reliable process. He explained for Africel subscribers who are also SLCB account holders should simply dial *161# and then follow the instruction to access their accounts and do their business by paying bills, transfer money, check balance among others. “Africel is proud to always be taking the lead in introducing cutting edge voice, data and fintech services in the country; thus reducing cost, improving the speed, comfort and security with which people link and conduct their financial transaction.
By Alhaji Manika Kamara
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