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

News in the ‘Business & Finance’ Category

Sierra Leone Business: PRA to institute penalties against defaulting mobile operators

Thursday, October 11th, 2018
Sierra Leone Business: PRA to institute penalties against defaulting mobile operators

The Petroleum Regulatory Agency (PRA) is now discussing with the National Revenue Authority (NRA) to institute stringent penalties against defaulting telecommunication/mobile phone operators in the country. According to the PRA these operators have failed to meet their obligations by paying for their licenses for storing fuel/petroleum across the country. A combine total of nearly 500[…]

Sierra Leone Business: SLPA wants to reform manual declaration of vessel

Thursday, October 11th, 2018
Sierra Leone Business: SLPA wants to reform manual declaration of vessel

The coordination between the Sierra Leone Ports Authority (SLPA) and the shipping vessels are manual but the Authority wants its working to improve the network by investing in software to ensure that they have a liaison with shipping lines. This was disclosed by the finance officer Malcolm Leigh when asked by the Principal Deputy Financial Secretary[…]

Sierra Leone News: RMFA wants all contracts to be in Leones

Thursday, October 11th, 2018
Sierra Leone News: RMFA wants all contracts to be in Leones

The Chief Executive Officer (CEO) of the Road Maintenance Fund Administration (RMFA) Sheku M. Kanneh has said “We want all contract to be denominated in Leones, we are insisting that everything should be done in Leones, as at any time there is a change in the value of the Leones which is a normal thing[…]

Sierra Leone Business: Cacao agents owes Alibaz Trading Le1bn in business cash

Thursday, October 11th, 2018
Sierra Leone Business: Cacao agents owes Alibaz Trading Le1bn in business cash

Alibaz Trading Company, a regional buying center for cacao in Kenema, is faced with the challenge of recovering his business cash from agents that he works with in the sector. According to Solomon Leigh, the Internal Control Systems (ICS) Manager, he said that recovery is a real hell for them and that they have over Le1[…]

Sierra Leone Business: Nigerian Central Bank Signs MoU with Bank of Sierra Leone over Skye Bank

Wednesday, October 10th, 2018

The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation (NDIC), Mr. Umaru Ibrahim, has disclosed that the Central Bank of Nigeria (CBN) has signed a Memorandum of Understanding (MoU) with the Bank of Sierra Leone to protect depositors of Nigerian banks located in Sierra Leone. Mr. Umaru Ibrahim, made this disclosure on the sidelines of[…]

Sierra Leone News: Africa cannot be ignored – ADB President

Wednesday, October 10th, 2018

The President of the African Development Bank (ADB) Akinwumi Adesina has acknowledged that risk is important but it should not be an excuse not to invest in Africa and given the size of its markets, growth, and huge potential across multiple sectors, Africa cannot be ignored. This was his message at a public and private[…]

Sierra Leone Business: EDSA needs 25bn for power supply during the dry season

Wednesday, October 10th, 2018

According to the Chief Finance Officer of the Electricity Distribution and Supply Authority (EDSA) Everisto Gwaidza they need 25 billion Leones to supply electricity during the dry season in 2019, adding that in total they want 508 billion Leones to buy and supply power for 2019. He made this disclosure during the annual budget hearing at[…]

Sierra Leone Business: SaLone signs MoU for “Credit Bureau Of The Future”

Wednesday, October 10th, 2018

President Julius Maada Bio announced thursday at the 73rd Session of the U.N. General Assembly (UNGA) a partnership that brings together leading technology nonprofit Kiva, the U.N. Capital Development Fund (UNCDF) and the U.N. Development Programme (UNDP) for the launch of a bold, new initiative designed to give the country’s seven million citizens, most of[…]

Sierra Leone Business: Polaris Bank takes over Skye Bank Plc

Thursday, October 4th, 2018
Sierra Leone Business: Polaris Bank takes over Skye Bank Plc

When the doors of the parent body of Skye Bank Plc in Nigeria opens today, Monday 24th September 2018 it will start to function as Polaris Bank. The drama started to unfold on Friday 21st September when the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele announced in a press conference that the[…]

Sierra Leone News: Petroleum Agency spends over 60% of revenue collected on salaries

Thursday, October 4th, 2018
Sierra Leone News: Petroleum Agency spends over 60% of revenue collected on salaries

The Petroleum Regulatory Agency (PRA) has been asked to redo their 2019 budget because the Ministry of Finance discovered that they want to spend over 60 percent of the revenue they generate on salaries for 21 staff. The PRA presented a total budget for Financial Year 2019 of Le9.27 billion and salaries account for Le4.55 billion.[…]