From Awareness Times Newspaper in Freetown

Local News
In Sierra Leone, UTB Opens Njala Branch ÖLaunches students and graduates account
By Augustine Samba
Nov 15, 2010, 12:18

One of the most unique indigenous banks in Sierra Leone, Union Trust Bank (UTB), on Friday 11th November 2010, officially opened a new branch at  Njala University, Mokonde Campus, in the Moyamba District.

To make the launch more auspicious, UTB used the forum as an opportunity to unveil a new product known as students and graduates account.

CEO assuring the host Communities.


The ceremony attracted various distinguished personalities including the Trade and Industry Minister, Mr. David Carew, Deputy Vice Chancellor, Professor Andrew Baimba, Chief Executive Officer of UTB, Sanpha Jim Koroma, Chairman of UTB, Mr. Sheku Kamara, a leading indigenous business bomba, Wilfred Sam King and a host of traditional rulers.

In his statement, the chairman of the ceremony, Mr. Wilfred Sam-King, congratulated the UTB CEO Mr. Sanpha Koroma, whose vision and initiative has brought the goodies being provided by the bank.


Traditional rulers pouring libation, while the minister and others look on.


The UTB, he continued, has recorded rapid economic growth and sustainability since its inception in the country.

He maintained that the products and services provided by UTB are worth emulating.


Deposit account, school fees account, savings account, western union money transfer and other related products are all being provided by the UTB, he pointed out.

Mr. Sam King chairman of ceremony on the high table.

According to him, the opening of UTB at Njala campus will contribute greatly towards improving the lives of the students, residents and traders in the host chiefdom of Kori.

Deputy Vice Chancellor of Njala University, Professor Andrew Baimba, said the opening of the bank will contribute to the modernization and improvement of the University as well as its surrounding communities.

He expressed optimism over the establishment of more private sector support programmes at Njala campus, as well as the Bo campus.

The minister of Trade and Industry.

The Minister of Trade and Industry, David Carew, said the promotion of private sector to enhance growth was part of his governmentís vision. According to him, improving a conducive environment was part of their mission as embedded in the agenda for change.

The Minister used the forum as an opportunity to appeal to the press to continue to write articles that will promote the country and attract investors.

In his remarks, the CEO UTB, Mr. Sanpha Jim Koroma, said the aim of the bank is to empower, encourage and support ordinary citizens and investors.

He informed that UTB has always partner with Finance Salone, a micro finance institution, the consumer finance and leasing company, a novel financing facility, to facilitate modern life style, and splash mobile company to give deserving products and services to their customer. Customer satisfaction, he emphasized, is top on the bankís agenda.

He said UTB is very much determined to reinforce the efforts of local investors as a major pillar of national and socio economic development. He maintained that through the efforts of the local investors more foreign investors will come into the country.


He formally launched the new product called students and graduates account, which is designed for students in colleges and campuses all over Sierra Leone.

According to him, the product provides a bridging facility for all undergraduates and post-graduate students who have scholarships either from government or other institutional arrangements. This product will afford students an opportunity to continue their academic career while their sponsorship process is in progress.


He emphasized that the facility is interest free, adding that it underscores the UTB recognition of the importance of education to develop Sierra Leone.

The donation of educational materials by Mr. Sanpha Koroma formed part of the ceremony.

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