With such an endowment… Sierra Leone should not be a poor country – Bank Governor

Giving his keynote address yesterday in a Financial Technology Roundtable organized by SBTS Group at Old Skool conference hall, the outgoing Central Bank Governor of Sierra Leone, James D. Rogers said that Sierra Leone has an abundant supply of fertile soil although agricultural activities continue to be dominated by small-scale producers largely for subsistence.
He noted that “the country is also endowed with a wealth of marine and mineral resources”, adding that with such an endowment, the potential for development and growth in Sierra Leone is great.
The outgoing Bank Governor maintained that, with fertile land in abundance, rich marine and mineral resources base, Sierra Leone should not be a poor country- let alone be classified as one of the poorest and be placed close to the bottom of the United Nation’s Human Development Index.
Dr Rogers averred that, in the immediate post-war-period, “the emphasis of economic management was on rehabilitation and reconstruction”.
This effort he said yielded positive results and key economic indicators attest to this.
He disclosed that, the GDP has increased steadily from $769Million to $1.3Billion in 2006, and continues to grow at an estimated rate of 9.0%.
He noted that financial sector development is critical to stronger economic growth, improved productivity, increased savings and investment.
In a power point presentation on Automated Credit Bank (ACM), Craigg Ballance a Financial Technology Specialists with SBTS Group said that ACM requires a significant start up effort to build database and constant monitoring and input.
The specialists also talked about the use of the ATM’s POS, mobile Phone Payments, ACH and clearing systems as well as RTGS and Credit Bureaus.
Earlier, in his opening remarks Evelyn Lewis, Chief Executive Officer of SBTS, said that the SBTS Group provides firms with technical expertise, project management skills, and vast Information Technology experience enabling firms to focus on their core business.
He added that with over 200 courses, SBTS Group offers premier hands –on training services to all clients, stating “we become your in-house training department.”