July 26, 2017
The newly appointed Governor of the Bank of Sierra Leone, Dr Patrick Saidu Conteh assumed office on Monday 24th July, 2017 following his appointment by President Ernest Bai Koroma and unanimous endorsement by Parliament on 18th July, 2017.
During his first day in office, he held sessions with members of the Board of Directors and Management of the Bank, who congratulated him on his appointment and assured him of their cooperation and support.
In his initial comments, Dr Patrick Saidu Conteh thanked all for the warm reception and noted their pledged support. He specifically thanked the Deputy Governor, Dr Ibrahim L. Stevens for diligently holding the fort and providing leadership until his appointment.
Dr. Patrick Saidu Conteh has for the last 18 months been Sierra Leone’s Minister of State responsible for fiscal affairs in the Ministry of Finance and Economic Development. As fiscal affairs Minister, his primary responsibility was to oversee the prudent management of the government’s budget as well as oversight of all fiscal matters ranging from the management and control of expenditure to debt issues.
Dr. Conteh served as a member of the Economic Management Team of the Government which placed him in a vantage point in dealing with international financial institutions such as the IMF, World Bank, etc.
He is credited for being part of the fiscal team that successfully negotiated the recent IMF and World Bank Country Programs both of which have earn Sierra Leone over USD 300m.
His role in the Ministry of Finance also covered dealings with Development Partners like the UK DFiD, the EU, ADB, IDB, etc. on matters relating to budget support, public financial management, Revenue and Tax policies; etc.
The new Central Bank Governor has over 20 years of progressive working experience in the field of banking and finance spanning both the private and public sectors.
He has intricate knowledge of the financial system both at the local, regional and international levels. He was formerly the Deputy Managing Director of the Sierra Leone Commercial Bank Limited
He has an excellent combination of academic and professional trainings and qualifications: PhD in Management with concentration in Finance (Walden University, USA); MBA-Masters of Business Administration (Oxford Brookes University, UK); FCCA-Fellow of the Association of Chartered Certified Accountants of the UK. B.Sc. (Hons) Bachelor of Science with Honours in Economics (Fourah Bay College, University of Sierra Leone).
Dr. Conteh also doubles as the Alternate Executive Director at the African Development Bank representing Sierra Leone, Liberia, Ghana, Sudan and Gambia.
Dr Patrick Saidu Conteh is the publisher of a study report on “The Credibility of Government Budget- The Case of Sierra Leone.”
He is married with three children.