Armed Forces Endowment and Loan Scheme

We Are Here To Help

The AFELS is a program developed by the RSLAF and approved by the Defence Policy Committee and the Defence Council.

Claims and Payouts
Claims can be processed within two weeks and withdrawal of funds for payment of claims shall be made upon the express approval of the Board of Trustees.
Benefits
Our members are covered in cases of invalidity, retirement, and death with an assured death benefit of Le2, 500,000. The benefits are subject to certain conditions such as a minimum of two years of uninterrupted contribution to the scheme.
Premiums and Contributions
Our optional monthly premium rates range from Le75,000.00 to Le500,000. These premiums are deducted from source, and the rate of accrued interest is 25% simple interest after two years of premium contribution.
Management & Governance
The AFELS is administered by the Ministry of Defence (MoD) under a new Directorate called 'Directorate of Armed Forces Endowment and Loan Scheme'. It is responsible to a Board of Trustees that meets quarterly to oversee the legal, governance, and advisory functions over the management of AFELS.
Investments
To ensure the stability of the funds, the AFELS invests only in low-risk investments. We do not invest more than 60% of the total endowment contribution and all investment decisions must be approved by the Board of Trustees.
Membership
Membership of AFELS is mandatory for all active service personnel. However, certain exceptions apply. For instance, personnel with less than three years of remaining military service, retired or discharged personnel, Cadets, and Recruits are not eligible for the scheme.
Who We Are

Why Choose AFELS?

Welcome to the Armed Forces Endowment and Loan Scheme (AFELS), an initiative that seeks to ensure the welfare of the Republic of Sierra Leone Armed Forces (RSLAF) personnel. Our scheme provides financial protection to our members during their service and even after retirement.

  • Endowment
  • Whole Life Policy
  • Loss Minimization
  • Subrogation
Afels

How It Works

The AFELS is a program developed by the RSLAF and approved by the Defence Policy Committee and the Defence Council. We aim to ensure the financial stability of our troops by offering an Endowment Policy that safeguards them in the face of eventualities such as invalidity, retirement, and death.

Endowment
Endowment is analogous to Insurance, and it provides for the payment of a stipulated sum to the designated beneficiary or policy holder in the event of death or eventualities. For the purpose of this policy, Endowment shall include Whole Life Policy.
Whole Life Policy
This policy covers the policy holder for as long as they live. You stay protected for your entire life; thus, it is named, whole life policy. Whole Life Policy has a limited cover. It covers the death of the policyholder and has an assured (fixed) amount which is paid by the scheme provider
Subrogation
Subrogation means, the assumption by a third party of another party’s right to collect a debt or damages. It is a legal doctrine wherever one person is entitled to enforce the substituting or revived rights of another for one’s own benefit.
Awesome Team

Meet Our Expert Team

At AFELS, we believe that behind every successful endeavor is a dedicated and talented team. Our team is the driving force behind our mission to deliver exceptional products and services to our valued customers. Allow us to introduce you to the passionate individuals who make up our remarkable team.

major-aruna
Major Mohamed F.D Aruna
FINANCE AND ACCOUNT OFFICER
colonel-gondo
Colonel Roland R. Gbondo
FOUNDER AND DIRECTOR OF AFELS
Major-Carew
Major Edmond Sundima Carew
LOAN AND INVESTMENT OFFICER
A F E L.

Membership.

Every member of the scheme has indemnity. Indemnity after two years of contribution is accrued interest plus total contribution to the scheme. Accrued interest is 25% of total contribution applicable only after two years of contribution to the scheme.

Colonel Mohamed B.S Kamara Esq. Director Legal
lead2
Commodore Philip Jesbert Juana Navy Commander
Grp Captain Hassan Sei Coomber Commander Air Wing
Staff Sgt Georgette Massaquoi Board Member 
Testimonial

What Our Clients Say's

Jonathan Bockarie

Members

"I cannot express enough how grateful I am for the loan scheme provided by [Loan Scheme Name]. As a small business owner, I was in need of financial support to expand my operations, and this loan came as a saving grace

Janet Kamara

Members

I recently availed myself of the loan scheme offered by [Loan Scheme Name], and I couldn't be happier with the experience. The scheme provided me with the necessary funds to renovate my home, and the terms and conditions were incredibly flexible.

testy3
George Taylor

Members

The armed forces endowment loan scheme has truly been a lifesaver for me during a time of unexpected financial difficulties. The loan scheme they offered provided me with the funds I needed to cover medical expenses for a family member.