Liberia: Bloom Bank Assures Citizens

The Managing Director of Bloom Bank-Africa formerly known as Global Bank has assured Liberians of quality banking services as the institution launches its new brand.

Speaking Tuesday, January 30, 2024, at the official opening of the Bank, ED Lekan Balogun said his institution is committed to nurturing businesses, individuals, and institutions in Liberia, providing banking solutions that cater to their unique needs.

“Bloom symbolizes growth, development, prosperity, and a journey from good, to better, to best,” the ED said.

He indicated that the core of their strategy as a bank is to support businesses in retail, corporate, and institutional banking and tailor-made treasury management solutions to empower tomorrow’s businesses.

“Our cash management products are designed to facilitate a seamless flow of finance across all the value chains of the business industry in Liberia, creating value and convenience for all,” he added.

Speaking about new skills, he said like a flourishing flower, the bank is dedicated to delivering the right blend of capital, technology, and expertise to power the growth of businesses, support government institutions and empower the dreams of every Liberian.

He furthered that through the strategic partnerships with regional and international partners and leveraging the strength of the Oakwood Group, they will ensure the movement of finance and resources from areas of surplus to areas of deficit and be the conduit for the transformative growth Liberia needs and fostering growth where it’s most needed.

“As a bank, we are passionate about helping businesses, individuals, and institutions in Liberia to grow and develop, by providing products that speak to their inherent needs,” he added.

Giving a history, he indicated that their journey as a bank began over a decade ago, as Global Bank-Liberia Limited. In 2022, the bank underwent some transformation, to become Bloom Bank Africa (Liberia) Limited, a member of the esteemed Oakwood Green Africa Group, with the sole aim of delivering exceptional banking solely focused on creating value for Liberians whom he described as their cherished stakeholders.

“We endeavor to empower Liberians and Liberian businesses to excel and achieve more. We are particularly focused on supporting SMEs, the lifeblood of our nation’s economy by providing sound financial advice and robust support,” the ED said.

He said, “We make it happen,” epitomizing their dedication to being partner in growth and fulfilling their costumers life’s ambitions.

The official unveiling of the Bank ceremony was graced by an array of dignitaries of Liberia including lawmakers.

Also speaking, Gabriel Edgal, Chairman of Oakwood Green Africa Limited said, “As we embrace the transition to Bloom Bank-Africa Liberia Limited, we recognize a rebirth of values, a renewal of commitment, and a brighter future ahead for all Liberians.”

He said with the launch of Bloom Bank Africa Liberia Limited, they were officially welcome into the Oakwood Green Africa family, with a promise to leverage their collective strengths, the dynamism of the business community, the resolute spirit of the Liberian people and the staff of the bank who have joined hands to bring to birth this new chapter to deliver exceptional value for the people of Liberia.

He promised that his institution leverage strong partnerships, Africa focused organizations.

“We will be a conduit for knowledge that has capacity to transform lives, a conduit for Capital for development of infrastructure, we will facilitate intra Africa and international trade and the building of trade enabling structures, we will leverage technology to solve identified problems in Liberia and we will enhance the productive capacity of SMEs through our business acceleration program, Africell.

And finally, we will be the largest distributor of finance to all Liberians leveraging our digital and agent banking platforms.”

He furthered that one of such strong partnership is their collaboration with the Africa Export Import Bank, Afreximbank. “We act as the last mile facilitators of most of Afreximbank’s offerings, as strategic agents to the bank. And this is why Bloom Bank Africa Liberia Limited is poised to fund any project and financing requirements that meet its lending criteria, regardless of its size, leveraging the almost $40billion balance sheet of Afreximbank” he told the gathering.

He added, “We have positioned ourselves to move resources from areas of surplus to areas of deficit across Africa, helping to change the African narrative and empowering people, businesses and governments across Africa.”

At the end of the event, new account forms were presented to the signatories that graced the launching ceremony.

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