Zenith Bank Sierra Leone

What Zenith Bank Sierra Leone does

Zenith Bank Sierra Leone Limited is a commercial bank incorporated in Sierra Leone and wholly-owned by Zenith Bank Plc of Nigeria, having commenced operations in September 2008. Headquartered at 18-20 Rawdon Street in Freetown, the bank operates a six-branch network spanning Freetown (Head Office, Lumley, Wellington Industrial Area, Cline Town), Kenema in the East, Bo in the South, and a branch at Freetown International Airport in Lungi, supplemented by three ATMs and a POS terminal network. Its service portfolio targets retail customers (salary earners, savers, children), SMEs, large corporates, NGOs, embassies, churches, and government/parastatals with current, savings, salary, domiciliary (USD/GBP/EUR), children's (ZECA), and hybrid Cheque & Save accounts.

The bank's product surface is built around core deposits, a MasterCard and Visa card suite across Classic, Gold, and Platinum tiers (debit, credit, prepaid), and electronic banking channels including individual and Corporate Internet Banking with 128-bit SSL encryption and hardware token authentication, the AlertZ SMS/email notification service, and a Realtime Access portal for transaction-level monitoring with Excel/CSV/XML downloads. Distribution is extended through Western Union international money transfer agency services, mobile money integrations with Airtel Money and Splash, and XPATH Collections - a payment collection platform that turns Zenith branches into third-party payment centers with electronic fee splitting and ERP integration. Corporate offerings include fixed deposits, call deposits, treasury bills, term loans, leases, and trade finance.

Revenue mechanics are conventional for a commercial bank: net interest spread on loans and advances (term loans, overdrafts, trade loans), account maintenance and transaction fees, card interchange and annual fees, fixed-income investment income (treasury bills, fixed and call deposits), forex revenue from domiciliary account services, and commission from Western Union agency and mobile money interoperability. The bank operates with approximately 38 employees, sells through a relationship-driven sales model combining branch-based corporate relationship managers with self-serve digital banking, and operates under an enterprise-wide AML compliance programme inherited from the Zenith Bank Plc group.

Name

Zenith Bank Sierra Leone

Legal name

Zenith Bank Sierra Leone Limited

Website

https://zenithbank.com.sl

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Zenith Bank Sierra Leone is a wholly-owned subsidiary of Zenith Bank Plc (Nigeria) operating a six-branch commercial bank in Sierra Leone, offering retail and corporate deposit accounts, card services, internet and mobile banking, Western Union agency, and trade and treasury products to individuals, businesses, NGOs, and government entities.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211)

SIC

Commercial Banks, Nec (6029)

akta.pro industry

PRIMARYFSABABAC

SME Deposits & Business Accounts (Operating, Savings, CDs)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Commercial Banking (SME & Middle Market)

SECONDARYFSABAAAA

Mass-Market Consumer Deposit Banking (Checking/Savings)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Retail Banking

Keywords

• Retail banking services
• Corporate banking services
• Digital banking platform
• Payment collection services
• International money transfer

Headquarters

HQ city

Freetownn, Sierra Leone

HQ country

Sierra Leone

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Loans and Advances: The bank generates revenue through interest charged on various loan products including term loans, trade loans, and overdraft facilities for both personal and corporate customers
2. Account Maintenance and Transaction Fees: Fees charged for current accounts, savings accounts, and various banking transactions including transfers, cheque operations, and standing orders
3. Card Services Revenue: Income from debit cards, credit cards, and prepaid cards including annual fees, transaction commissions on POS and ATM usage
4. Investment Products: Revenue from fixed deposits, call deposits, treasury bills investments, and other investment products with interest spread
5. Foreign Exchange Services: Domiciliary account services in USD, GBP, and EUR currencies generating forex transaction revenue
6. International Money Transfers: Western Union money transfer services for international remittances

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels5 records

Core offering

Zenith Bank Sierra Leone is a commercial bank providing retail and corporate banking services through six branches, digital channels, and partner networks across Sierra Leone. Its core offerings include deposit accounts (current, savings, domiciliary, salary), card services (MasterCard and Visa debit, credit, and prepaid cards), loans (term, trade, lease), investment products (fixed deposits, call deposits, treasury bills), electronic banking (internet banking, mobile money, POS, ATM), and international money transfer via Western Union. The bank serves individual consumers, salaried workers, businesses, NGOs, and government entities.

Product overview

Zenith Bank Sierra Leone operates as a commercial bank offering a comprehensive suite of personal and corporate banking products through multiple delivery channels. The bank's product portfolio centers on core deposit accounts (Current, Savings, Domiciliary, and Salary accounts), card services (Debit, Credit, and Prepaid cards via MasterCard and Visa networks), and electronic banking platforms (Internet Banking, Corporate Internet Banking, Mobile Banking via Airtel Money and Splash Mobile Money, POS, and ATM). Corporate offerings include investment products (Fixed Deposits, Call Deposits, Treasury Bills, FGN Bonds), lending solutions (Term Loans, Leases, Trade Loans), and specialized services (XPATH Collections, Western Union, AlertZ notifications, Realtime Access). The bank differentiates through its ICT infrastructure, Western Union agency network, and mobile money partnerships, serving retail customers, salary earners, and corporate clients across Sierra Leone.

Differentiator

Problem solved

Functional benefit

Products and services

• Current Account Bank account offering cheque operations, monthly statements, standing orders, optional overdraft facilities, instant ATM access, and online real-time functionality, available for individual or joint operation.
• Savings Account Interest-bearing savings account with competitive rates and branch withdrawal access for customers with specific savings goals.
• Cheque & Save Account Hybrid savings-current account combining investment features with cheque book access, offering up to three free withdrawals per month with competitive interest rates.
• Zenith Children's Account (ZECA) Savings account for children aged 0-18 years designed to teach financial discipline, with single monthly withdrawals, competitive interest, and account transfer upon reaching 18 years.
• Domiciliary Account Foreign currency account supporting USD, GBP, and EUR transactions, enabling international transfers, payments, and standing orders via debit cards, internet banking, and mobile app.
• Salary Account Bank account for employees providing easy fund access with zero opening balance, internet banking, debit card, SMS/email alerts, salary advance, consumer loans, and term loan access, including Airtel Money linkage.
• Debit Cards MasterCard and Visa debit cards providing 24-hour account access, available in Leone and dollar denominations with worldwide acceptance for ATM withdrawals, POS purchases, and internet shopping.
• Credit Cards MasterCard and Visa credit cards in Classic, Gold, and Platinum tiers supporting POS, WEB, and ATM transactions with up to 45 days interest-free period on purchases.
• Prepaid Cards Reloadable prepaid cards available in Naira, Dollar, Euro, and Pound denominations, allowing loading of specific amounts for shopping and travel with 3D online security.
• Internet Banking Online banking platform providing 24/7 account access for balance enquiries, fund transfers, bill payments, cheque management, and transaction monitoring, with 128-bit SSL encryption and hardware token authentication.
• Corporate Internet Banking (CIB) Secure real-time online banking for corporate customers enabling fund transfers, payroll administration, trade finance monitoring, multi-bank account viewing, import duty payments, and audit trail functionality.
• AlertZ Transaction notification service delivering deposits, withdrawals, transfers, and salary payment alerts via email and SMS, reducing the need for branch visits to confirm deposits.
• Realtime Access Real-time account monitoring portal displaying deposit and withdrawal transactions as they occur, supporting transaction archiving, Excel/CSV/XML downloads, and 24/7 online access.
• XPATH Collections Payment collection solution converting Zenith Bank branches into collection centers, supporting electronic fee splitting, bulk payments, installment payments, and ERP integration with real-time reporting.
• Point of Sale (POS) Terminals Card payment terminals accepting MasterCard and Visa for in-store and mobile payments, with 8-15 second transaction processing, chip-and-PIN fraud protection, and T+1 settlement.
• Automated Teller Machine (ATM) 24/7 cash withdrawal terminals accepting Visa and MasterCard, located at Head Office, Lumley, and Freetown International Airport branches.
• Mobile Banking (Airtel Money) Mobile banking integration with Airtel Money enabling wallet funding, bank-to-wallet transfers, balance enquiries, DSTV/EDSA bill payments, and mobile top-ups.
• Mobile Banking (Splash Mobile Money) Mobile banking via Splash Mobile Money supporting person-to-person transfers, Airtel/Africell top-ups, and DSTV/EDSA bill payments through Zenith Bank branches.
• Western Union Money Transfer International money transfer service with over 400,000 agent locations in 200+ countries, allowing customers to send and receive money in any currency with no charges for receiving funds.
• Fixed Deposit Short-term investment product with fixed rates for 30-365 day tenors, minimum deposit of Le1,000,000, higher interest than call deposits, subject to 15% withholding tax.
• Call Deposits Short-term investment with no maturity period and 24-hour access, available as overnight, 7-day, or 14-day call options with interest subject to 15% withholding tax.
• Treasury Bills Investment Government-guaranteed debt instruments issued by Bank of Sierra Leone with 91, 182, or 364-day tenors, discountable at Zenith Bank with confirmation certificates issued.
• Term Loans Credit facilities for short, medium, or long-term needs including property acquisition and personal consumables.
• Lease Finance and sale-leaseback solutions supporting asset or equipment acquisition.
• Trade Loans Flexible short-term borrowing facilities linked to specific import or export transactions, working as revolving credit to fund trade cycles between purchase and sale payments.
• Zenith Bureau de Change Foreign exchange services for currency conversion and international transactions.
• SwiftPay Electronic payment service for fund transfers and bill payments.
• Zenith Funds Investment fund products managed by Zenith Bank group.
• NIBSS (Nigerian Inter-Bank Settlement Scheme) Nigerian Inter-Bank Settlement Scheme integration for interbank transactions and payments.

Quantifiable outcome

• Award-winning customer service recognized by multiple international awards

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Western UnioncoreChannel Partner/ Reseller/ DistributorZenith Bank offers Western Union money transfer services enabling customers to send and receive money internationally. Western Union operates from over 400,000 agent locations in over 200 countries worldwide. Customers can send and receive money in any currency with no charges when receiving funds.
• Airtel MoneycoreChannel Partner/ Reseller/ DistributorZenith Bank is an Airtel Money partner bank with secure system integration allowing customers to link accounts to Airtel mobile wallets. Customers can fund Airtel wallets from bank accounts, transfer money to Airtel wallets, check balances, make bill payments (DSTV, EDSA), and cash in/cash out at branches.
• Splash Mobile MoneyminorChannel Partner/ Reseller/ DistributorZenith Bank partners with Splash Mobile Money allowing customers to transfer money through the bank to loved ones. Customers can fund Splash wallets or cash out through any Zenith Bank branch. Additional services include mobile top-up for Airtel and Africell, and bill payments for DSTV and EDSA.
• MasterCardcoreTechnology or IntegrationZenith Bank offers MasterCard debit, credit, and prepaid cards accepted worldwide. Card tiers include Classic, Gold (with enhanced limits and MasterCard Moments), and Platinum (with Priority Pass lounge access and concierge services). All cards feature 3D online security (MasterCard SecureCode) and contactless payments.
• VisacoreTechnology or IntegrationZenith Bank offers Visa debit, credit, and prepaid cards with global acceptance. Cards support internet shopping, ATM withdrawals, and POS payments worldwide. Security features include Verified by Visa (VbyV) for online transactions. Cards available in multiple currencies including Naira, Dollar, Euro, and Pound.
• XPATH CollectionscoreTechnology or IntegrationXPATH Collections converts Zenith Bank branches into payment centers for businesses collecting payments nationwide. Features include electronic fee splitting, bulk and installment payments, error-free posting, unique payment identification, transaction tracking, and ERP integration. Payment reports can be delivered via email in Excel format.

Scale indicators4 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• United Bank for Africa (Sierra Leone): Sierra Leone operation of Nigerian bank UBA Group, providing retail and corporate banking with pan-African reach — directly comparable as another Nigerian-bank subsidiary serving both consumer and corporate customers in Sierra Leone with regional correspondent network.
• Guaranty Trust Bank (Sierra Leone): Sierra Leone subsidiary of GTBank/Guaranty Trust Holding Company (Nigeria) — strong direct peer offering comparable retail, corporate and digital banking products targeted at the same high-value Nigerian-bank customer segment in Sierra Leone.
• Ecobank Sierra Leone: Sierra Leone subsidiary of Togo-headquartered Ecobank Transnational — a pan-African commercial bank serving retail, corporate and government clients in the same market with similar full-service retail and corporate banking offerings and digital channels.
• Sierra Leone Commercial Bank: State-owned indigenous commercial bank offering current accounts, savings, loans and trade finance to retail and corporate customers across Sierra Leone — the largest domestic legacy competitor on the ground.
• Rokel Commercial Bank: Sierra Leone-based commercial bank providing retail, corporate and trade finance services — another domestic incumbent with similar deposit and lending products competing for the same customer base.
• Access Bank (Sierra Leone): Sierra Leone subsidiary of Access Holdings (Nigeria), pursuing the same retail-corporate banking franchise with a focus on digital channels and cross-border African connectivity — comparable in product mix and target customer base.

Emerging players

• Orange Money Sierra Leone: Mobile money operator competing for deposits, payments and remittances via mobile wallets without a physical branch footprint — emerging player that overlaps with Zenith's Airtel/Splash money partnerships and retail payments franchise.

Broad incumbents

• Zenith Bank (UK) Limited: UK-regulated subsidiary of Zenith Bank Plc — sibling operation serving corporate and private banking clients, illustrating how the parent group's compliance, technology and product playbook can be deployed across jurisdictions.
• Zenith Bank Ghana: Sibling Ghanaian subsidiary of Zenith Bank Plc — operates the same product framework (current/savings accounts, cards, internet banking, treasury, trade finance) on a larger scale, providing a relevant internal benchmark for the Sierra Leone unit's potential trajectory.
• Standard Chartered Bank Sierra Leone: Sierra Leone branch of Standard Chartered (global universal bank) — broader incumbent serving premium corporate, trade finance and wealth customers in Sierra Leone with a wider international product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zenith-bank-sierra-leone

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zenith Bank Sierra Leone