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Business


Managing Director of Rokel Commercial Bank, speaks to The Worldfolio about the investment opportunities in Sierra Leone PDF Print E-mail
Written by Sheriff Mahmud Ismail   
Monday, 02 October 2017 11:18

John D. Okrafo-Smart, Managing Director of Rokel Commercial Bank, speaks to The Worldfolio about the investment opportunities in Sierra Leone and gives his insight into the banking landscape.

Excerpts shared by Sheriff Mahmud Ismail

The Government of Sierra Leone is placing great priority in improving the business climate, enhancing infrastructure and support to private sector development. In line with the government focus, the Central Bank is targeting price stability in support of economic recovery, enhancing monetary policy instruments and liquidity management and also limiting intervention in the foreign exchange market, which will be important to preserve foreign exchange reserves.

The above measures will help in the strengthening of the banking system to support financial intermediation. Commercial banks are thus poised to benefit and take advantage of the improved economic and business environment by offering better services to their customers, including loans and overdrafts and forex to import, thereby creating wealth and boosting government revenue.

Read more...
 
NRA Boss flies the Sierra Leone flag at the 3rd International Conference on Tax in Nigeria PDF Print E-mail
Written by Expotimes   
Friday, 29 September 2017 17:26

The Commissioner-General of Sierra Leone's National Revenue Authority is currently representing Sierra Leone at the 3rd International Conference on Tax in Nigeria organised by the African Tax Administration Forum (ATAF). The conference which takes place from 26-29 September 2017 brings together over 200 tax experts from across Africa and the world to discuss tax issues and compliance factors affecting African countries.

During the session on improving the collection of Corporate Income Tax in Africa, Madam Kallah-Kamara highlighted the successes Sierra Leone has achieved over the past few years under her administration which is as a result of embracing international best practice in tax administration.

She said “in all our reforms adopted in Sierra Leone in the area of tax administration, we have ensured that we learn from other countries in Africa in terms of how they have improved things, the challenges they faced and their successes”.

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ACC CAPACITATES SIERRA LEONE COMMERCIAL BANK STAFF ON ANTI-BRIBERY AND ANTI-CORRUPTION ISSUES PDF Print E-mail
Written by Expotimes   
Wednesday, 26 July 2017 21:42

The Anti-Corruption Commission (ACC) on the request of the Management of the Sierra Leone Commercial Bank (SLCB) on Thursday 20th July, 2017 commenced anti- bribery and anti-corruption training with staff of the Bank.

The training which was held in the Bank's Conference Room 9th Floor, Christian Smith Building 29/31 Siaka Stevens Street, Freetown attracted over twenty members of the Executive Management.

 

Last Updated on Thursday, 28 September 2017 08:42
Read more...
 
ACC URGES EDSA BO TO TACKLE BRIBERY AND PETTY CORRUPTION PDF Print E-mail
Written by ALIMAMY LAHAI KAMARA   
Tuesday, 27 June 2017 18:02

“Electricity is an essential commodity. Operations of Government offices and private enterprises hinge on the availability of electricity. And in the homes, every single Sierra Leonean will like to enjoy electricity service; therefore, we cannot afford to tolerate petty corruption and bribery in the energy sector,” ACC Southern Regional Manager told staff of Electricity Distribution and Supply Authority (EDSA) at a general meeting at EDSA conference room.

Samuel Marah said EDSA staff have to brace up for the job and conduct themselves in line with best practice. He said meters, poles and cables, ladders, pliers, and computers do not involve in malpractices by themselves, but it is the individuals who use them as they interact with the gullible public. The public most times is unable to identify EDSA staff from non EDSA staff.

He said EDSA in Bo must implement measures already designed to tackle petty corruption and bribery happening in the sector. May 2017 PNB complaints report indicated bribes paid for meter replacement, new connection, reconnection, bill reduction and avoiding disconnection. These hotspots continue to feature repeatedly in the report and it is about time actions are taken. Erection of service charter indicating costs for services can be a huge measure to curbing petty corruption.

Read more...
 
Sierra Leone Embassy & Beijing Chamber Of Commerce for Cultural Industries Launch China-Sierra Leone Hand-In-Hand International Foundation PDF Print E-mail
Written by John Baimba Sesay- CHINA   
Saturday, 17 June 2017 17:23

The Sierra Leone Embassy in China in collaboration with the Beijing Chamber of Commerce for Cultural Industries on Saturday 17th June, 2017 launched the China-Sierra Leone Hand-in-Hand International Foundation with a view of cultivating good citizenship by enhancing social, environmental, cultural and economic wellbeing of communities in Sierra Leone.

It also will among others, serve as a bridge of friendship between the two nations in a bid to promote international culture and art exchanges and contribute to economic development.

Speaking at the event, Madam Kumba Alice Momoh, the embassy’s Chargé d'Affaires   referred to the launch of the China-Sierra Leone Hand-In-Hand International Foundation as “the birth of a new era during a period that Sierra Leone is celebrating 46 years of bilateral relationship with China”

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Editorial

26th IPRA Conference in Sierra Leone Ends on a High Note

The International Peace Research Association (IPRA) successfully held its 26th General Conference on ‘Agenda for Peace and Development: Conflict Prevention, Post-Conflict Transformation, and the Conflict, Disaster Risk and Sustainable Development Debate’ in collaboration with the 10TH Dealing With Disasters Series, Northumbria University (UK)and Sakarya University (Turkey) and  the University of  Sierra Leone at the Bintumani Conference Centre in Freetown, Sierra Leone from November 27 to 1st December 2016.

Read more...

Business News

Managing Director of Rokel Commercial Bank, speaks to The Worldfolio about the investment opportunities in Sierra Leone

John D. Okrafo-Smart, Managing Director of Rokel Commercial Bank, speaks to The Worldfolio about the investment opportunities in Sierra Leone and gives his insight into the banking landscape.

Excerpts shared by Sheriff Mahmud Ismail

The Government of Sierra Leone is placing great priority in improving the business climate, enhancing infrastructure and support to private sector development. In line with the government focus, the Central Bank is targeting price stability in support of economic recovery, enhancing monetary policy instruments and liquidity management and also limiting intervention in the foreign exchange market, which will be important to preserve foreign exchange reserves.

The above measures will help in the strengthening of the banking system to support financial intermediation. Commercial banks are thus poised to benefit and take advantage of the improved economic and business environment by offering better services to their customers, including loans and overdrafts and forex to import, thereby creating wealth and boosting government revenue.

Read more...

Media News

Freedom of Expression Violations Rise Sharply in West Africa

The incidents of freedom of expression rights violations in West Africa more than tripled in the first quarter (January-March) of 2017.

Over the three-month period, a total of 47 violations were recorded as against 14 violations for the last quarter (October-December) of 2016. The violations recorded in the quarter under review range from arrests and detentions to physical attacks, online violations, shutdown of media houses, censorship, seizure and destruction of property and killings. The 47 violations occurred in 10 out of the 16 countries in West Africa.

 

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Commentary

Dr. Tam Baryoh’s Only Crime!

Boris Johnson as a Journalist worked at The Times and Daily Telegraph newspapers. He edited The Spectator newspaper between 1999 and 2006. He was Member of Parliament for Henley from 2001 to 2008 and was also Mayor of London. He is a member of the Conservative Party and the current UK Foreign Secretary.

Nnamdi Azikiwe was to serve as the first president of independent Nigeria from 1963 to 1966. He opened and edited a number of newspapers in Ghana and Nigeria and later became an active politician. Obafemi Awolowo was a great Nigerian politician. He also was an active journalist and edited The Nigerian Worker, amongst other publications.

There is a clear link between politics and journalism though, there seems to be a very thin boundary, or perhaps, “a reflective door in the firewall, such that with time, politicians and journalists cross the line changing roles and moving from side to side,” argues Aminat Afolabi in a piece, titled ‘Politics and Journalism, the Interwoven Relationship between Them.”

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View Point

How and Why I endorse Julius Maada Bio for President?

I have

I have endorsed Retired Brigadier Julius Maada Bio for the SLPP presidential ticket in the March 7 2018 elections because I strongly believe in his project and ability to succeed as our next president if given the opportunity.  Perhaps I need to provide  some context as to how, when and why I took this decision.

Maada Bio is the second presidential candidate I have ever endorsed in Sierra Leone. The first was late president TejanKabbah during the campaigns in the 1996 general elections, which he won. I was then publisher and Editor-in-Chief of Expo Times, which won the best-selling newspaper award from the National Vendors Association that year. At the time, my newspaper was the largest circulation and most widely read newspaper in the country and my nearest competitors were For Di People and Concord Times. When the presidential election campaigns became heated and the battle lines were clearly drawn with the three front-runners, TejanKabbah of the SLPP, Karefa-Smart of the UNPP, and Thaimu Bangura of PDP (SORBEH), For Di People declared for and endorsed Karefa-Smart and the UNPP while Concord Times declared for and endorsed Thaimu Bangura and the PDP. Dr Prince Harding and Banda-Thomas then approached me to endorse and help TejanKabbah of the SLPP, who was then the clear frontrunner according to Opinion polls, to win the elections. 

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News - Press Release

CrPcEPd Life-saving jingle hits the airwaves

Freetown- 9 October 2017 – A new jingle that forewarns Sierra Leonean about the dangers of residing in disaster-prone communities will be released on 10 October 2017.

The 1:30-second radio jingle, aired twice daily for 70 days will be aired on seven major radio stations across the country.

The radio announcement is in Krio, the country’s Lingua Franca, and Mende, Themne and Kono- the widely spoken languages in Sierra Leone.

When radio-lovers tune in on Tuesday morning and evening for the next 70 days they will be informed about the changes in the weather.

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Society -Local News

ACC COMMISSIONER LAUNCHES PAY NO BRIBE CAMPAIGN IN KONO DISTRICT

The Commissioner, Anti-Corruption Commission (ACC) Ady Macauley Esq., on Monday 2nd October, 2017 officially launched the Pay No Bribe (PNB) campaign in Kono District. The PNB in the first phase had targeted, Western Area Urban and Rural, Bombali, Bo and Kenema Districts.

In his keynote address at the District Council Hall, Koidu City, Mr. Macauley  called on all Sierra Leoneans to fight bribery and petty corruption very seriously, stating that their consequences are debilitating. 

He thanked the Department for International Development (DFID) for the support provided to the ACC in the implementation of the PNB and assured that the ACC will play its part to ensuring a successful implementation of the campaign. Commissioner further commended the MDAs implementing the PNB and highlighted the astute and formidable leadership demonstrated by the Inspector General of Police (IG) Francis Munu as the SLP has dismissed and terminated police officers for various acts of corruption and malfeasance and instructed the dismantling of 23 illegal checkpoints nationwide.

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Development

THE CASE FOR REFORM OF THE UN SECURITY COUNCIL
  1. In recent years many UN member States have begun urging a change of the Security Council more so by demands of African states led by Sierra Leone.
  2. The main argument for reform is that change is necessary to make the Security Council more reflective of today’s International realities.
  3. Since the Council was created in 1945 more than a hundred and ninety two nations have come into existence and former defeated states in the last World War such as Germany, Japan and Italy have rejoined the World Community. While many developing states have become economic and trade dynamos yet the Security Council still operates on the same basic principles and with the same P5 (permanent Five) UK, USA, CHINA, FRANCE and USSR.

 

Sierra Leone has consistently and with farvour put the case for Africa at every fora upto some weeks ago in New York but it is difficult to assess the response of the UN or the P 5 respectively.

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Politics

PRESIDENT KOROMA SAYS… “I am very proud of Ansumana Usman Koroma”

President Dr Ernest BaiKoroma has informed Sierra Leoneans that, “I am very proud that we have people like Ansumana. We need many more Ansumana Usman Koromas that will go out there as Ambassadors of our country, showing and telling a good story about Sierra Leone.”

Whilst speaking at his Presidential office in Freetown, President Koroma affirmed that, “I am very proud of Ansumana and I am encouraging him to do more by helping his people.”

Read more...
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