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News in the ‘Business & Finance’ Category

Sierra Leone Business: Businesses Smuggling Goods Through Liberia’s Unmanned Borders With Guinea and S. Leone

Tuesday, February 12th, 2019

High import duties and hefty fees and tariffs including a recently introduced US$175 per container agreement appear to be forcing more and more Liberian businesses and individuals to bypass the Liberia Revenue Authority and the National Port Authority by using poorly-manned borders between Liberia and next-door neighbors Guinea and Sierra Leone to bring goods into[…]

Sierra Leone Business: Orange objective is to connect the entire Salone – CEO Kane

Tuesday, February 12th, 2019

The Chief Executive Officer (CEO) of Orange Sierra Leone Mrs Aminata Kane Ndiaye has said that the main objective of the company this year, is to make sure that every part of Sierra Leone has Orange network. Speaking to the people of Yiffin in Nieni chiefdom on Thursday, the CEO said Yiffin is the first beneficiary[…]

Sierra Leone Business: UAE-based AMEA Power explores Salone’s investment opportunities

Tuesday, February 12th, 2019

The United Arab Emirates-based AMEA Power, an energy producing giant, is exploring investment opportunities in Sierra Leone, a top official disclosed on Tuesday. Hussain J. AI Nowais, Chairman of the company whose interest is focused in Africa, Middle-East and Asia, is currently heading a delegation on a visit to Sierra Leone. According to a release from State[…]

Sierra Leone Business: Early forecasts for cereal output in 2019 are positive

Tuesday, February 12th, 2019

Global food prices began the year on a buoyant note, as the Food and Agricultural Organisation (FAO) Food Price Index averaged 164.8 points in January 2019, up 1.8 percent from the previous month. A sharp rebound in dairy price quotations and firmer prices of palm and soy oils drove the increase, the United Nations agency said[…]

Sierra Leone News: Salone’s dependence on primary exports makes it extremely vulnerable to shocks

Tuesday, February 12th, 2019

In its review of economic prospects and projections for the continent, the African Development Bank presented its 2019 African Economic Outlook at the 32nd Ordinary Session of the Assembly of the African Union in Addis Ababa. The Country Note review of Sierra Leone stated that the country’s dependence on primary commodity exports makes the country[…]

Sierra Leone Business: Salone stock of domestic debt reached Le4.52 trillion in 2017

Tuesday, February 12th, 2019

Total domestic debt stock comprising of marketable and non-marketable securities reached Le4.52 trillion (US$594.37 million) end 2017, this is according to the Ministry of Finance Public Debt Bulletin. Conferring to the figures, the marketable securities include treasury bills and treasury bonds whilst, the non-marketable securities include Ways and Means Advance to the Government and verified domestic[…]

Sierra Leone Business: Auditor General Queries $5m loan to Beton Villa for Waterloo Roads

Monday, February 4th, 2019

An amount equivalent to US$5million in the books of Road Maintenance Fund Administration (RMFA) was reported as loan to Beton -Villa towards Waterloo township roads projects an audit into the Ministry of Finance and Economic Development (MoFED) in 2017 reveals. But according to the Auditor General the said payment was initially part of an advance[…]

Sierra Leone Business: International food commodity prices hold steady in December

Monday, January 21st, 2019
Sierra Leone Business: International food commodity prices hold steady in December

Global food prices held broadly stable in December, with rising international cereal prices offsetting declining sugar and dairy quotations, the Food and Agriculture Organization of the United Nations (FAO) said in a statement. FAO Food Price Index posted a decline in 2018 as only cereal quotations increased, and the Index averaged 161.7 points in December,[…]

Sierra Leone Business: NRA to crack down on tax defaulters at the end of first quarter

Monday, January 21st, 2019
Sierra Leone Business: NRA to crack down on tax defaulters at the end of first quarter

The National Revenue Authority (NRA) has set up a Debt Recovery/Enforcement Unit which is strategically placed under the Office of the Commissioner General and chaired by his Deputy. Responding to question on the effectiveness of the Authority’s enforcement arm to go after tax payers who fail to file their returns and make payments on the[…]

Sierra Leone Business: Govt. resumes processing of application for mineral rights

Monday, January 21st, 2019
Sierra Leone Business: Govt. resumes processing of application for mineral rights

The Ministry of Mines and Mineral Resources and the National Minerals Agency (NMA) have resumed the processing of applications for mineral rights after five months since they imposed a suspension of the process until a proper screening process is established. The Ministry and the Agency said in a statement that they have lifted the suspension[…]