This page is continuously being updated – please visit us regularly to keep updated on relevant business news.

We trust you will find value in the news below and in our section News pages…..


Professor Lumumba joins Sierra Leone to take anti-corruption crusade to global level

For the first time since Sierra Leone gained independence in 1961, the country is now beginning to turn the corner in its fight against rampant corruption, which is estimated to be losing the government hundreds of millions of dollars every year.

In the last seven months, since winning presidential elections in March 2018, the SLPP government led by president Julius Maada Bio is doggedly fighting to end corruption in high places and change the culture of impunity, that has seen Sierra Leone reduced to a banana republic.  Read more ….


McKinsey shows Africa is the world’s next big growth market

A new book by McKinsey confirms that Africa is poised for economic acceleration, akin to the Asian boom. While other continents are seeing incremental growth, global companies that get in early and join the African champions shaping the right strategies, can sustain double-digit profit growth over the next few decades.  Read more ….


Our sea port is now ready to handle the nation’s economic growth – says President Bio

Speaking at the official launching of the expanded Freetown Terminal Port at the Queen Elizabeth Water Quay last Friday, 23rd November 2018, president Julius Maada Bio said that the newly expanded port is now capable of handling the nation’s economic growth.  Read more …. 


NRA to claim unpaid arrears from fishing companies for fines, local discharge

As at the end of December 2015, arrears for fines and local discharge from four fishing companies were said to have not been collected by the Ministry of Fisheries and Marine Resources (MFMR) amounting to USD$135,942 and Le522million (Le522,841,333).   The 2015 Auditor General’s Annual report revealed that it seems as if the debt collection system was not robust as the Ministry was unable to collect the full amount of fines and local discharge fees within the year under review.  Read more ….


Agriculture and development in Sierra Leone

Agriculture is arguably the largest economic sector in the country as nearly two- thirds of the population depends on it for livelihood and sustenance and it is a factor for almost hall of the country’s Gross Domestic Product ( GDP.

Economic growth and poverty reduction in Sierra Leone will be sustained if the agricultural sector is development oriented with requisite tangibles in the lives of the people. Despite well designed agricultural programmes by successive governments of Sierra Leone through the Ministry of Agriculture, Sierra Leone is still crippling with poverty, agricultural standards and development realities. No crystal cut showcasing of significant impact of interventions in the country’s agricultural sector in a bid to foster national development.  Read more ….


Energy Ministry & Partners sign solar light agreement

The Ministry of Energy, Ministry of Finance, Public Private Partnership (PPP) and Energy Ministry Agencies (EDSA and EGTC) yesterday signed a 50 mw Solar project agreement with Planet Solar Energy S.L.

The signing took place at the Ministry’s Hall in Freetown, honored by the Minister of Finance, Mr. Jacob Jusu Saffa.
In his statement, the Country Manager of the Company (Planet Solar Energy), Johnny Dupini registered the company’s commitment to the government’s Agenda, adding that it was an effort to make more people access electricity nationwide.  Read more …. 


Akinwumi Adesina spearheads leading agricultural innovation and economic growth of Africa

President of the African Development Bank – Akinwumi Adesina, is committed to the eradication of poverty, through agricultural innovation and promoting good governance, working in helping to develop Africa’s economy.

As an agricultural economist, Dr. Akinwumi Adesina has been a leader in agricultural innovation for over 30 years. He has contributed greatly to food security in Africa, aimed at improving the lives of millions currently living in poverty, throughout the African continent.   Read more ….


IMF is optimistic about prospects for Sierra Leone’s economy

After months of uncertainty about discussions between the newly elected government in Sierra Leone and the International Monetary Fund (IMF), today there is good news from the IMF about its latest review of the country’s economic performance.

An IMF team led by Brian Aitken visited Freetown from 18th of September 2018 to 2nd October 2018, to initiate discussions on a possible Extended Credit Facility arrangement that could be supported by the IMF.

At the end of the visit, Mr. Aitken issued the following statement:  Read more ….


Sierra Leone’s President at the United Nations:
‘Optimistic’ about country’s new direction as key reforms enacted

On Thursday, the newly-elected President of Sierra Leone, Julius Maada Bio, told the United Nations, that “with a strong belief in a shared vision and a common destiny, Sierra Leoneans stand with the [international community] in meeting the world’s challenges.”

Acknowledging the role that multilateralism and sustainability play in the establishment of a democratic Sierra Leone, he told world leaders gathered for the General Assembly’s annual general debate that “we are a successful model of a stable democracy.”  Read more …. 


Sierra Leone to learn about Oil exploration from Equatorial Guinea

The government of Sierra Leone has signed a Memorandum of Understanding (MOU) agreement with Equatorial Guinea on oil and gas exploration.

According to the Director General of the Sierra Leone Petroleum Directorate, Timothy M. Kabba,  “Equatorial Guinea is a nation that is mature in oil and gas exploration, and we stand to benefit as a nation from their experiences…”
He explained that during a bilateral visit to Equatorial Guinea, President Julius Maada Bio was impressed by the tremendous gains made by the country on oil and gas.  Read more ….

Why it’s exciting to be doing business in Africa

There is always something new out of Africa, the ancient Greeks used to say.
Back then, the proverb referred to the continent’s extraordinary diversity, but today it can be applied to the accelerating pace of change as Africa begins to reshape its economic destiny.

It’s an exciting time to be an African business. This is a youthful continent, experiencing the most rapid urbanisation rate in the world and, by 2034, it is expected to boast a larger working-age population than either China or India. Read more ….


Illegal fishing costing Sierra Leone US$ 50 million annually

Annually, Sierra Leone is losing an estimated US$ 50 million to illegal, unreported and unregulated fishing.

This, according to Sierra Leone’s newly-elected President Julius Maada Bio, is one of the critical challenges in the fisheries sector coupled with limited accessibility to the international market.  Read more ….

Lomé, 30th July 2018


1. The Joint Summit of the Heads of State and Government of the Economic Community of West African States (ECOWAS) and the Economic Community of Central African States (ECCAS) was held on 30th July 2018 in Lomé, Togolese Republic. The Summit was jointly chaired by their Excellencies Faure Essozimna Gnassingbe, President of the Togolese Republic and Chair of ECOWAS and Ali Bongo Ondimba, President of the Republic of Gabon and Chair of ECCAS.  Read more ….


Sierra Leone Business: SL Commercial Bank boasts of record Le1.1 trillion in deposits

The Sierra Leone Commercial Bank (SLCB) has announced that they have hit a record high of Le1.1 trillion in total deposits for the financial year 2017.
According to SLCB they are the first to hit one trillion in deposits.  Read more ….


SLeCAD introduces SAKATA Seed Company to farmers

The Sierra Leone Chamber for Agribusiness Development (SLeCAD) has on Thursday, 28th June, hosted a meeting for SAKATA Seed Company and local farmers at Radisson Blu Hotel, Aberdeen in Freetown. Read more….


Liberia Losing Gold, Diamond Revenue To Sierra Leone & Guinea

Liberia is said to be losing a huge quantity of gold and diamond daily to Guinea and Sierra Leone due to the high export tax placed on these minerals.
Dealers in the mining industry are reportedly smuggling these minerals to neighboring Guinea and Sierra Leone to avoid paying government high tariff of 5% imposed on the minerals.  Read more ….


New Maritime Boss Vows To Boost Sea Safety

The newly appointed Executive Director of the Sierra Leone Maritime Administration, Dr. Sarah F. Bendu has vowed to promote sea safety and regulate the maritime sector in accordance with the law.  Read more….


Government To Tackle Illegal Fishing

The Government of Sierra Leone has made a commitment towards the fight against illegal fishing which continues to cause sub-regional member states millions of United States dollars yearly.  Read more….


Sierra Leone Hosts Sub Regional Fisheries Commission (SRFC)

The Ministry of Fisheries and Marine Resources yesterday hosted the 19th Ordinary Session of the Coordinating Committee of the Sub Regional Fisheries Commission at the Bintumani Hotel in Freetown.  Read more….