Makeni, Friday 28 August 2026 — The Temporary Investment Fund (TIF) Board has called on Rural Financial Institutions (RFIs) to strengthen governance, prudent financial management and responsible utilization of investments to ensure that the gains achieved through the Fund are sustained beyond the life of the Rural Finance and Community Improvement Programme (RFCIP).

The call was made during the ongoing performance review of RFIs in Makeni, following a similar session held in Kenema from 25 August 2026. The Makeni session, which commenced on 28 August at Garden State Hall, is providing a platform to assess the performance of the TIF investments and agree on measures to strengthen portfolio management, recovery, accountability and institutional performance.

Attention is being given to the repayment of the Additional Finance 2 (AF2) TIF capital investments, which are now due, as well as outstanding dividend obligations. The review also facilitates the reconciliation of amounts due from beneficiary RFIs and the agreement of clear actions for the immediate execution of repayment and their dividend obligations.

Addressing representatives of the RFIs, the TIF Board Chairman, Edward O. Kangagu emphasized the need to protect and sustain the gains made through TIF investments. “It is important to note that the gains achieved through the TIF investment must be protected and sustained beyond the life of RFCIP II. This requires strong governance structures, prudent financial management, and responsible utilization of the investment by beneficiary institutions.”

Also addressing the meeting, the RFCIP Financial Controller, Santigie M. Turay, stressed that effective management is fundamental to the survival and sustainability of financial institutions.

“A bank is not an institution that fails; it is poor management that makes a bank fail.”

He noted that weak management, compromised governance and poor loan management systems can cause even a well-capitalized financial institution to collapse, underscoring the importance of sound institutional management and effective portfolio oversight by the project and the Apex Bank.

The portfolio review is part of RFCIP’s continued efforts to ensure that the TIF resources are effectively managed and recovered. While the TIF provides investments to Community Banks (CBs) and Financial Services Associations (FSAs), its primary objective is to Capitalize and Strengthen the Apex Bank. The said CBs and FSAs are required to repay 2.5% of the investment each quarter to the Apex Bank, with the full value of whatever amount invested to be refunded to Apex Bank at the end of RFCIP. The TIF therefore serves as a Revolving Capitalization Mechanism, investing in RFIs while ensuring that repayments eventually strengthen the financial sustainability and capital base of the Apex Bank.