Republic Bank partners Liberian Bank to provide technical services
Republic Bank (Ghana) PLC and the Liberian Bank for Development and Investment (LBDI) have signed a technical services agreement to strengthen the financial ecosystem of LBDI.
The signing in Accra, which marked a significant milestone in regional financial collaboration and was witnessed by senior executives of both institutions, would enable LBDI to benefit from Republic Bank’s market-leading expertise in mortgage loans, credit cards, and other banking solutions while strengthening its institutional processes and operational structures.
While the Managing Director of Republic Bank (Ghana) PLC, Benjamin Dzoboku, signed on behalf of his bank, the President/Chief Executive Officer of LBDI, Dr Christian N. Allison Jr., initialled for LBDI.
A release issued in Accra further explained that the agreement is aimed at “diversifying LBDI’s product portfolio, enhancing operational capacity through knowledge-sharing, capacity-building, and the development of efficient operational structures.
These will support LBDI in the expansion of its product portfolio in response to growing customer demand for mortgage loans, credit card services, SME financing and the improvement of service delivery.”
Significance
Mr Dzoboku highlighted the significance of the relationship, describing it as a commitment to shared goals of innovation and regional growth.
“This Technical Services Agreement brings to the fore our vision of a republic Africa and our proven expertise in mortgage financing, credit card services, and institutional banking, and LBDI’s ambition to diversify its offerings and meet Liberia’s growing demand for tailored banking solutions,” he stated.
He further underscored the alignment between the two banks’ visions and emphasised the broader impact of the partnership.
“This is a testament to the power of regional partnerships in advancing economic development across Africa. Together, we will unlock opportunities, empower businesses, and positively impact livelihoods.
“At Republic Bank, we recently launched our five-year strategic plan, which prioritises mortgage financing, SME growth, and credit card solutions. Therefore, through initiatives such as the Republic Academy, Republic Bank is committed to facilitating the knowledge transfer and capacity-building required to achieve the objectives of the agreement,” he added.
Strategic vision
Dr Allison expressed his optimism about the agreement, describing it as a pivotal step in realising LBDI’s strategic vision.
He acknowledged the long-standing efforts leading up to the partnership and highlighted its alignment with LBDI’s current strategic goals.
“I am particularly excited about this partnership, as it has been in the works for nearly five years, and we are thrilled that it aligns perfectly with the launch of our three-year strategic plan,” he stated.
He emphasised that the collaboration would help LBDI’s strategic objectives of expanding its offerings and improving service delivery for its customers.