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News in the ‘Business & Finance’ Category

Sierra Leone Business: Technical Audit recommends structural integrity assessment on Golden Tulip Hotel

Monday, April 15th, 2019
Sierra Leone Business: Technical Audit recommends structural integrity assessment on Golden Tulip Hotel

The Auditor General has recommended that the NASSIT Management should commission a structural integrity assessment on the entire Golden Tulip Essential Kimbima building to determine whether the building is fit for purpose, before further expenditure is done on maintenance. In the Technical Audit Report 2019 she stressed that the Management must engage a qualified structural engineer[…]

Sierra Leone Business: Regional SME’s to benefit from trade fair exhibition

Monday, April 15th, 2019
Sierra Leone Business: Regional SME’s to benefit from trade fair exhibition

The Director General of the Local Content Agency Fodeba Daboh has disclosed that they are proposing a regional trade fair exhibition which will take place in the provincial headquarters towns of Port Loko, Makeni, Bo and Kenema as part of the Agency’s strategic work plan in the second quarter. Daboh is hopeful that with the ILO’s[…]

Sierra Leone Business: Le2 billion spent under Orange CSR IN 2018

Monday, April 15th, 2019
Sierra Leone Business: Le2 billion spent under Orange CSR IN 2018

Orange Sierra Leone has declared that in 2018, they spent Le2 billion under their Corporate Social Responsibility (CSR), and they say they hope to improve on that this year. Talking on the company’s achievement under their CSR and investment, a member of Staff Desmond Spaine said Orange adopted 50 kids from the age of six months[…]

Sierra Leone Business: ‘Black Bill Gates’ unveiled as Commonwealth Chair for Business and Technology Initiatives in Africa.

Monday, April 15th, 2019
Sierra Leone Business: ‘Black Bill Gates’ unveiled as Commonwealth Chair for Business and Technology Initiatives in Africa.

The Africa Head of The Royal Commonwealth Society, John Apea has said, “The Commonwealth theme for 2019, is ‘A connected Commonwealth’ which is “most appropriate as we outdoor Herman to lead out technology and business initiatives”. Mr. Herman Chinery-Hesse was chosen because of his experience in leadership and success at driving businesses to growth which has[…]

Sierra Leone Business: Zenith posts Le145m increase in Profit Before Tax for 2018

Monday, April 15th, 2019

Zenith Commercial Bank has posted a 0.5% increase in Profit Before Tax in its 2018 financials. In 2017, the bank posted a profit of Le28.7 billion (Le28,763,343,000) which has increased by 0.5% (Le145,478,000) to Le28.9 billion (Le28,908,821,000) in 2018. In its core business, deposits from customers grew by 17.8% (Le72.8 billion) from Le334 billion in 2017 to[…]

Sierra Leone Business: SLRSA ordered to pay RMFA Le21bn shortfall

Monday, April 15th, 2019

Under collection of revenue amounting to Le21 billion (Le 21,102,777,910.39) was identified by auditors looking into the activities of the Sierra Leone Roads Safety Authority (SLRSA). This was discovered while examining the amount remitted to Road Maintenance Fund Administration (RMFA) by SLRSA. According to Section 19 (a) of the Roads Transport Authority Act of 2007 it was[…]

Sierra Leone Business: SLRA award $732,710 contracts without evaluation

Monday, April 15th, 2019

The Technical Audit conducted into the activities of the Sierra Leone Roads Authority (SLRA) by the Auditor General discovered that about US$ 732,710.92 worth of contracts were awarded without any evaluation. Two contractors (M/s Awesome Consortium Limited and M/s Moliba Investments Limited) signed the Weima Bridge projects on Friday, 7th July 2017 covering a total[…]

Sierra Leone Business: NASSIT Management failed to explain benefit payment of Le4.7bn

Tuesday, April 9th, 2019
Sierra Leone Business: NASSIT Management failed to explain benefit payment of Le4.7bn

A review and analysis of the benefit paid on salary at the National Social Security and Insurance Trust (NASSIT) by Auditors has discovered that the salaries of 193 contributors upon which benefits were calculated amounting to Le4.7 billion (Le4,743,141,975.66). The Management was however faulted for not explaining why and how the benefits and grants were calculated.[…]

Sierra Leone News: EDSA faulted for delay in recovering of over Le80bn worth of prep-paid vouchers

Tuesday, April 9th, 2019
Sierra Leone News: EDSA faulted for delay in recovering of over Le80bn worth of prep-paid vouchers

A Special Technical Audit report 2019 has faulted the Electricity Distribution and Supply Authority (EDSA) for failing to take action for the difference of Le80 billion (Le80,817,560,181.74) as sales for pre-paid vouchers. According to the report the difference was calculated from the estimated total amount of Le435 billion (Le435,235,871,304.96) with an actual amount of Le391,168,942,529.36 between[…]

Sierra Leone Business: Improper SIM card registration… More than 60% of crimes committed are cyber related-NATCOM Infor cyber security manager

Tuesday, April 9th, 2019
Sierra Leone Business: Improper SIM card registration… More than 60% of crimes committed are cyber related-NATCOM Infor cyber security manager

In an effort to reduce the rate of cyber crimes and impersonation across the country, the National Telecommunications Commission (NATCOM) is currently working on serious penalties to be levied on people who refuse to properly register their SIM cards. The Manager Cyber Security Information at the Directorate of Regulatory Affairs Abdul S. Kamara disclosed this, during[…]