On the re-opening of SLPP Office … “We would never encourage violence” John Benjamin...

News in the ‘Business & Finance’ Category

Sierra Leone News: NASSIT to hear Golden Tulip Workers Demand

Monday, January 16th, 2017
Sierra Leone News: NASSIT to hear Golden Tulip Workers Demand

The Deputy Director General of the country’s pension fund NASSIT Amara Kuyateh has met with striking workers of Golden Tulip Hotel and has promised to discuss their concerns with the Board of the trust. The National Social Security and Insurance Trust (NASSIT ) owns Golden Tulip. Before the acquisition, it was known as Kimbima Hotel.[…]

Sierra Leone News: Inflation jumps to 15.26% in November 2016

Monday, January 16th, 2017
Sierra Leone News: Inflation jumps to 15.26% in November 2016

The annual inflation rate increased from 12.56 percent in October 2016 to 15.26 percent in November 2016. The monthly rate also increased by 2.73 percent from 177.89 percent in October 2016 to 182.74 percent in November 2016. “The increase in both the monthly and annual rates of inflation in the month November 2016 was mainly[…]

Sierra Leone News: Brewery Gets New Director, Pays Sorghum Farmers Le215m

Monday, January 16th, 2017
Sierra Leone News: Brewery Gets New Director, Pays Sorghum Farmers Le215m

The new Managing Director (MD) of Sierra Leone Brewery Limited (SLBL) is Daaf Van Tilburg. He replaces Willy Ngana who served Brewery for four years. Heineken International owns SLBL with over 80 percent shares in the company. During Mr Willy Ngana’s tenure as MD, parliament passed the Finance Act of 2016 which increased tax on[…]

Sierra Leone News: STATEMENT BY DR. J. SANPHA KOROMA

Monday, January 16th, 2017
Sierra Leone News: STATEMENT BY DR. J. SANPHA KOROMA

STATEMENT BY DR. J. SANPHA KOROMA FOUNDER AND CHIEF EXECUTIVE OFFICER  ON THE OCCASION OF THE BANK’S 2016 YEAR-END COCKTAILS ON SATURDAY, 7TH JANUARY 2017AT THE GOLDEN TULIP ESSENTIAL KIMBIMA HOTEL ABERDEEN Your Excellencies Distinguished Guests, Ladies and Gentlemen On behalf of the Shareholders, Management and Staff of Union Trust Bank Limited, it is my[…]

Sierra Leone News: President’s Recovery Priorities budgets $839m

Monday, January 16th, 2017
Sierra Leone News: President’s Recovery Priorities budgets $839m

The total budget of President Koroma’s recovery priorities is estimated at $839 million and donors including the British Department for International Development (DFID) have committed $641 million. The government has committed $179.63 million to the programme. The Lead Specialist Yvonne Aki-Sawyer told Awoko that spending priorities are energy, agriculture, education, health, water, e-governance, private sector[…]

Sierra Leone News: Shandong iron-ore future for Sierra Leone possible as Chinese investors commit

Monday, January 16th, 2017

The $700-million planned injection by Chinese State-owned mining company Shandong Iron and Steel into an iron-ore processing plant at the Tonkolili mine, in Sierra Leone, has further cemented the West African region’s strong mining outlook, BMI Research said on Friday. The new investment, which was described as the largest industrial investment in the country’s history,[…]

Sierra Leone News: High Cost of Living or Cost of Higher Living

Monday, January 16th, 2017

Since January 2016, inflation has been chasing double digits and now glowing around 15 percent. The exchange rate moved from Le5,000 to Le7,500 per Dollar and the cost of fuel whether petrol, kerosene or diesel jumped from Le3,750 to Le6,000. Many will tell you if not all that the cost of living is high. A[…]

Sierra Leone News: Mines Ministry and NMA Visits Koidu Underground Mine

Monday, January 16th, 2017

The Ministry of Mine and Mineral Resources and the National Mineral Agency (NMA) were in Koidu City last Friday to see and access the underground mining operation of Octea limited. Koidu limited is a 100 percent subsidiary of Octea mining company. In 2016 the company applied to undertake underground operations which both the mines ministry[…]

Sierra Leone News: SALCAB takes over Fiber Optic Project

Monday, January 16th, 2017
Sierra Leone News: SALCAB takes over Fiber Optic Project

ECOWAN-SL project coordinator Sahr Momodu Sewah has handed over documents, equipment, vehicles and more to the Sierra Leone Cable (SALCAB) to continue with the implementation of the project. ECOWAN-SL is a $28.27 million project that will design, develop and deploy 660 kilometres of fibre optic cable from Freetown to Zimmi connecting with Liberia and from[…]

Sierra Leone News: 2016 Review:Gov’t gets $38m from Orange/Iluka Deals in 2016

Monday, January 9th, 2017
Sierra Leone News: 2016 Review:Gov’t gets $38m from Orange/Iluka Deals in 2016

Government earned a total of $39 million from two major deals in 2016 – telecoms giant Orange acquired Airtel Sierra Leone and Iluka took over Sierra Rutile. Orange Group bought Airtel Sierra Leone in June 2016 and government received $30 million as capital gains tax. The telecoms operator is present in almost 30 countries on[…]