Sahrfoa Matturie
The arrival of First Bank of Nigeria in Makeni is being welcomed as a significant development expected to enhance economic activity, expand financial inclusion, and create employment opportunities in the northern city.
Speaking at the official opening, Chairman Kobie Walker underscored the bank’s legacy, noting that while it is new to Sierra Leone, it brings over 130 years of operational experience. He described the institution as one of Africa’s oldest and most established banks, with a global network of partnerships. Walker emphasized a customer-focused approach, stating that the bank is committed to building long-term relationships with individuals and businesses by supporting their financial needs at every stage.
He stressed that the bank’s entry into Makeni goes beyond routine operations, positioning it as a partner in local development. According to him, the institution aims to contribute to making the city more dynamic and entrepreneurial through accessible and reliable financial services.
City authorities have also expressed optimism. Ibrahim Nelson Kamara, Deputy Mayor of the Makeni City Council, described the development as a major boost for the municipality. He noted that the presence of additional financial institutions could stimulate economic activity, strengthen the city’s revenue base, and generate both direct and indirect employment opportunities. He further encouraged residents to utilize the bank’s services.
From the academic community, Joseph Alimamy Turay, Vice Chancellor of the University of Makeni, welcomed the move, highlighting its potential to create job opportunities for young people, particularly graduates seeking entry into the workforce.
Economically, analysts suggest that the bank’s entry could intensify competition within Makeni’s banking sector. Increased competition typically leads to improved service delivery, greater access to credit, and enhanced support for small and medium-sized enterprises—key drivers of entrepreneurship and local business growth.
However, they caution that the long-term impact will depend on the bank’s ability to effectively serve a broad customer base, including small businesses and low-income groups. Its contribution will also be measured by its level of investment in the local economy and commitment to community development.
Overall, the establishment of First Bank in Makeni signals rising confidence in the city’s economic potential and presents new opportunities for businesses and residents.
