Investment: Union Trust Bank

Union Trust Bank Limited
Union Trust Bank Limited (UTB) was incorporated in April 1995 as a private limited liability company in Sierra Leone and the only locally owned bank focused on delivering financial services to the rural areas.  UTB also owns 45% of Finance Salone, the country’s leading microfinance organization.  UTB’s mission is to establish an efficient, sound and enduring financial institution that gainfully explores the vast human and material resources of the country in order to create national wealth and ensure lasting prosperity.

Why we invested
Unlike other financial institutions in Sierra Leone, Union Trust Bank Ltd’s primary focus is to lend to small and medium enterprises (SMEs) and increase lending in rural areas, targeting the low-income segment.  SEDF’s investment allows UTB to expand its operations to these segments and to specifically target agribusinesses, thereby creating jobs and alleviating poverty in one of Africa’s most impoverished countries.

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