Empowering Women Entrepreneurs in Sierra Leone: a Case Study of A Call to Business (ACTB)
FCDO Invest Salone Programme, Sierra Leone Focus Area: Economic Empowerment
In Sub-Saharan Africa, more than a quarter of working women are engaged in entrepreneurial activity—the highest rate globally. However, in Sierra Leone, only 25% of women entrepreneurs have access to finance. The barriers they face include low financial literacy and a lack of financial products tailored to their unique needs.
To address these challenges, the UK Foreign, Commonwealth & Development Office-funded Invest Salone programme, implemented by CADMUS International UK Limited, partnered with London-based impact investing group Truestone Impact Investment Management (Truestone), and its portfolio company A Call to Business Savings and Loans (ACTB). This case study showcases how the partnership has empowered women entrepreneurs by providing them with financial products designed specifically for their needs.
The Challenge
While women are key drivers of the entrepreneurial sector in Sierra Leone, many struggle to access the financial resources necessary for business growth. Traditional financial institutions often overlook women’s specific needs, and the lack of tailored financial products hinders their ability to scale their businesses.
The Solution
Invest Salone awarded a grant to Truestone, enabling investments totalling £10,955,000 into ACTB, one of Sierra Leone’s largest microfinance banks. With a customer base of over 70% women, ACTB offers microloans and SME loans designed to meet the needs of women entrepreneurs, helping them access capital to grow their business.
Impact
With the support from Invest Salone, ACTB has been able to expand its operations, increase its reach, and provide more loans to women entrepreneurs.
“In 2023 alone, we disbursed about US$9.8 million in loans. This has been made possible because of the support we received from Truestone through Invest Salone. About $US5 million of our portfolio is in the hands of women.” – David Kamara, CEO of ACTB.
Stories of Empowerment
“I started as a petty trader with a small shop. Then three years ago, I moved into Henry Street with just one shop. I went to ACTB to get a microloan because I wanted to grow the business and needed the money to clear a large shipment from the ports. After this I took an SME loan to buy more stock. Within seven months I was able to rent the next-door premises as well.” —Aminata Bangura, Entrepreneur
“I was introduced to ACTB by my sister, who was also a customer. I initially took out a microloan from ACTB to buy goods from China which I mainly sold online. When I was ready to grow and expand the business, I rented a shop on Circular Rd and took out an SME loan to buy more stock and to cover the clearing and forwarding costs. I have been able to employ my aunty and sister – so we are all women working in the shop.” —Hawa Bundu, Entrepreneur
