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News in the ‘Business & Finance’ Category

Sierra Leone Business: SKYE Bank posts 2.8% growth in Profits

Monday, June 5th, 2017

Nigerian affiliated Skye Bank (SL) has posted a modest profit of Le4.4 billion in Profits Before Tax for the year 2016. This shows a perceptible increase of 2.8% or Le123.7 million (Le123,766,000) growth from Le 4.3 billion (Le4,313,238,000) in 2015 to Le4.4 billion (Le4,437,004,000) in 2016. However deposits from customers dropped by 2.6% or Le1.5[…]

Sierra Leone Business: $2.5b investment forum opens today

Monday, May 29th, 2017
Sierra Leone Business: $2.5b investment forum opens today

The World Bank Group in collaboration with the government of Sierra Leone  today Monday 29th May will open a two days Development Finance Forum (DFF) for the purpose of unlocking private investment in Sierra Leone. According to Parminda Brar World Bank Country Manager, the new $ 2.5 billion Private Sector Window will help the entire[…]

Sierra Leone Business: OPEC appoints Nigerian as board Chairman

Monday, May 29th, 2017
Sierra Leone Business: OPEC appoints Nigerian as board Chairman

The Organisation of Petroleum Exporting Countries (OPEC) on Friday, announced the appointment of Mr Olusegun Adekunle as the Alternate Chairman of the Economic Commission Board. The Organisation of Petroleum Exporting Countries (OPEC) on Friday, announced the appointment of Mr Olusegun Adekunle as the Alternate Chairman of the Economic Commission Board. OPEC made the announcement in[…]

Sierra Leone Business: Cape Lambert Takes Timis Mining to High Court

Monday, May 29th, 2017
Sierra Leone Business: Cape Lambert Takes Timis Mining to High Court

A row has broken out between two friends and business partners. Tony Sage and Frank Timis are both Australians involved in the mining business. While Tony Sage is CEO of Cape Lambert Resources and iron ore miner with concessions in Sierra Leone, Frank Timis was also the CEO of African Minerals another iron ore miner[…]

Sierra Leone Business: HOW TO START AND SUCCEED IN CAKE MAKING BUSINESS FROM HOME

Monday, May 29th, 2017
Sierra Leone Business: HOW TO START AND SUCCEED IN CAKE MAKING BUSINESS FROM HOME

For most ceremonies the glitz and glamour is not usually complete without the organizers making available beautifully designed cakes to add colour to the occasion. It has become more common to see cakes that come in different shapes, sizes, flavours, designs and colours taking centre stage at many ceremonies. Such huge and beautifully decorated cakes[…]

Sierra Leone Business: Court restrains CBN from transferring Keystone Bank shares

Monday, May 29th, 2017
Sierra Leone Business: Court restrains CBN from transferring Keystone Bank shares

The Federal High Court sitting in Abuja has restrained the Governor of the Central Bank of Nigeria, CBN, Godwin Emefelie, and the management of Keystone Bank from the transfer of the bank’s shares to those it was purportedly sold to, pending the determination of the motion on notice before the Court of Appeal. The decision[…]

Sierra Leone Business: Iron ore crashes again to below $58 a tonne

Monday, May 29th, 2017
Sierra Leone Business: Iron ore crashes again to below $58 a tonne

The last time it fell below the $60/tonne threshold was in October 2016. Iron ore prices were in full-scale retreat once again Friday, with the steelmaking material collapsing below the psychologically key $60 a tonne threshold, and marking the commodity third consecutive weekly fall. Ore with 62% content in Qingdao lost $2.33 a tonne to[…]

Sierra Leone Business: Sierra Leone develops new Core Minerals Policy

Monday, May 29th, 2017

In Sierra Leone the Ministry of Mines and Mineral Resources is in the process of preparing a new Core Minerals Policy (CMP) in line with the Africa Mining Vision (AMV). In support of this initiative, the African Minerals Development Centre (AMDC) will assist the government of Sierra Leone in its roll out of a sensitisation[…]

Sierra Leone Business: UBA posts Le25Billion Profit Before Tax

Tuesday, May 23rd, 2017
Sierra Leone Business: UBA posts Le25Billion Profit Before Tax

The United Bank of Africa (UBA) has posted a Le25.3 billion Profit Before Tax for 2016. This shows a 22% jump in profits over the 2015 financial year. The 2016 figures of Le25,318,956,000 (Le25.3billion) jumped by Le6billion (Le5,549,750,000) from Le20billion (Le19,769,206,000) in 2015. The Customer Deposits grew by 12% (Le29,750,073,000) from Le219 billion (Le218,932,605,000) in[…]

Sierra Leone Business: HOW AN UNDERGRADUATE STUDENT STARTED AND GREW A MULTI-MILLION DOLLAR TRANSPORT BUSINESS

Tuesday, May 23rd, 2017
Sierra Leone Business: HOW AN UNDERGRADUATE STUDENT STARTED AND GREW A MULTI-MILLION DOLLAR TRANSPORT BUSINESS

It is a known fact that the Igbo tribe of Southeastern Nigeria are one of the industrious group of people in Africa today. Their undaunted spirit, courage, resilience and high business acumen have made them the bedrock of economic activity especially at the small and medium scale enterprises level in Nigeria.  They are known to[…]