The Managing Director of Bloom Bank Africa Liberia Limited has described Liberia as a basin of opportunities and a virgin space for investment on the continent of Africa, describing Liberia’s potential in the banking sector as promising in terms of location, vegetation, weather, man power, as well as the commitment of the people to serve.
Olalekan Balogun observed that when tapped into, the country could surpass most of its competitors in the banking environment in other third-world and developing countries.
He made the statement yesterday during the program marking the formal transition of Global Bank Liberia Ltd. to Bloom Bank Africa Liberia Ltd., noting, “As of January 30, 2024, Global Bank Liberia Limited has transitioned to Bloom Bank Africa (Liberia) Limited (BBALL). This rebranding signifies a commitment to delivering tailored banking solutions designed to drive prosperity for the people of Liberia.”
He stressed that the rebranding aligns with the bank’s strategic direction following its acquisition by Oakwood Holdings Liberia Limited (OHLL), and that the new identity reflects the bank’s goal to become a robust, tech-driven, Pan-African bank, focused on fulfilling the diverse financial needs of its customers, and noted that the bank’s new logo features the resilient lotus flower, which symbolizes the bank’s ability to flourish consistently.
“The logo incorporates blue, green, and orange, colors that represent the bank’s core values of excellence, growth, passion, and agility,” Balogun said.
“It is a great honor to welcome you all to the official unveiling of our new and refreshing brand, Bloom Bank Africa. Indeed, our journey as a bank began over a decade ago, as Global Bank Liberia Limited. In 2022, the bank underwent some transformation, to become what is soon to be known as 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 you, our cherished stakeholders,” the bank’s Managing Director said.
He observed that ‘Bloom’ symbolizes growth, development, prosperity, and a journey from good, to better, to best, noting that as a bank, they are committed to nurturing businesses, individuals, and institutions in Liberia, providing banking solutions that cater to the unique needs of their customers.
“Much like a flourishing flower, our 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. Through strategic partnerships with regional and international partners and leveraging the strength of the Oakwood Group, we will ensure the movement of finance and resources from areas of surplus to areas of deficit, and be the conduit for the transformative growth our country needs, 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 said.
Balogun averred that the core strategy of the 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. Ladies and gentlemen, the banking of this century and today is no longer a place you go, but a thing you do. We are stationed to be the go-to bank for providing banking services driven by cutting-edge technology, to power your financial needs wherever you may be,” he pointed out.
He bragged, “Our outlook is Pan-African. This stems from the realization that Africa is the new frontier and therefore the gaps in terms of seamless trade amongst African Countries and settlement of trade transactions need to be adequately bridged, and as a solution-focused bank, we aim to be that bridge.”
The Bloom Bank Africa Managing Director claims that his institution will endeavor to empower Liberians and Liberian businesses to excel and achieve more, saying that they are particularly focused on supporting SMEs – the lifeblood of the economy – by providing sound financial advice and robust support.
“Our mantra, ‘We make it happen,’ epitomizes our dedication to being your partner in growth and fulfilling your life’s ambitions. Our core values – Service Excellence, Innovation, Continuous Learning, Respect, and Execution – are the pillars that underpin our commitment to excellence.
During the unveiling of the new brand, the bank’s MD/CEO emphasized the bank’s redefined mission: “Our focus is on enabling our customers to prosper and facilitating significant progress for them. We are committed to being a key channel for capital investment in Liberia, fostering growth for businesses of all sizes, and supporting Liberians and their enterprises to succeed. We aim to provide reliable financial guidance and support, particularly to SMEs, ensuring the sustainability of these vital businesses that drive our nation’s economy.”
According to Balogun, the introduction of the new brand marks the initial stage of the rebranding journey, with further exciting developments and initiatives set to follow, saying, “With our new brand, we will explore the various opportunities in the banking and other sectors where investment can be actualized into benefits for both partners and the locals.”
For his part, the principal investor and Chief Executive Officer of The Oakwood Green Group said that the Global Bank Liberia’s journey epitomizes dedication, resilience, and the relentless pursuit of excellence, noting, “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. We commend the leadership of the Central Bank of Liberia for their unwavering support that has made this transformation possible. With this launch, we officially welcome Bloom Bank Africa Liberia Limited into the Oakwood Green Africa family, with a promise to leverage our 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.”
Gabriel Edgal told guests that Oakwood Green Africa was birthed to be architects of a future it desires, an Africa that all will be proud of, an Africa its people can truly call their own, built by Africans for the benefit of all Africans, home and abroad.
“Yes, we have many challenges in Africa, but we have chosen not only to point them out, but indeed, to be a part of the solution to the challenges. This is why we exist. Our Vision is to “Enable Greatness across Africa. We are passionate about Africa’s development, and its amazing potential for greatness. We aim to enable greatness in people, to enable greatness in businesses, in governments, and in the Nations of Africa,” Edgal pointed out.
He continued, “To do this, we will 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, Africeller. And finally, we will be the largest distributor of finance to all Liberians leveraging our digital and agent banking platforms.”
One such strong partnership is our 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. 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,” he said.
