By M’balu Sheriff
The Sierra Leone Bottling Company (SLBC) formerly known as ‘Cold Storage’ at George Brook in Freetown, says it has “decided to take steps to transform the facility into a distribution plant to ensure (better) service to our customers.”
A press release issued by SLBC management on Friday 14th June, 2019 stated that: “In reference to the recent news about changes at the Sierra Leone Bottling Company (SLBC), the company confirms that a number of our employees have been made redundant as part of the number of changes taking place at the company.
Following days of uncertainty in petroleum supply with fears that the commodity was becoming scarce, AYV conducted in-depth investigation into the matter to ascertain the root cause (s) and what is responsible for the recent seeming shortage of fuel across the country.
It was gathered that National Petroleum Sierra Leone (NP-SL) recorded a massive loss of over Le 96 billion (ninety six billion Leones) between January to May 2019.
Director of Crops Division
Director of Crops Division (MAF), John Kamara has said the Policy on Cocoa and Coffee will help farmers greatly in Kenema, Kono and Kailahun that are producing these products.
He said studies have shown that the three district has more climatic condition in which these products flourish.
“Since 1930 the mines have not benefited the country as a whole” he said
The leading Telecommunication operator in Sierra Leone, Africell has given Iftar to Muslims nationwide that are fasting in this Holy month of Ramadan.
Iftar is one of the religious observances of Ramadan and it is taken just after the Maghrib prayer and it is done in emulation of Prophet Muhammad (S.A.W) who before his death breaks his fast in this manner.
The International Monetary Fund (IMF) after its first economic performance review has rated Sierra Leone’s economic performance under the New Direction as very satisfactory and this will see the country benefiting from grants in the coming months.
It could be recalled that on 23rd April this year a team led by Dr. Karen Ongley as Mission Chief from the IMF commenced the first economic performance review of Sierra Leone under the New Direction and the newly-agreed programme.
One of newly installed state-of-the-art plants
The Sierra Leone Brewery Company Limited (SLBL) on Friday 26th April 2019 informed the media and officials of the Consumer Protection Agency about its recent investments in facilities upgrade in its new brew house as well as the recently overhauled packaging bottling line costing Le3.5 billion.
Since 1962, SLBL has pride itself with that rich heritage tied to the history of the country with the vision of growing with Sierra Leone as well as to further improve the efficiency of its bottling operations and to ensure that that its services are to its valued consumers and consumers in the future.
Private Sector is government’s main development partner - Hon. Tunis
Minister of Planning and Economic Development, Nabeela Tunis, has presented the Government of Sierra Leone’s Medium Term National Development Plan 2019-2023, to the British Chamber of Commerce in Sierra Leone. She said that the government recognised that the private sector is key in ensuring the successful implementation of the plan.
By Alhaji Mohamed Wusha-Conteh
Deputy Minister of Trade and Industry, Rev. Abraham James Sesay-Jones on Friday 7th May, 2019; officially launched the Trade Inspection Manual and approved the resumption of activities of the Trade Monitors.
In his remarks, Rev. Abraham Sesay-Jones emphasized that the role of Trade Monitor is very key to the Ministry, hence there was need to enhance their technical skills and knowledge on trade related issues, interpersonal relationship with the business community, reliable trade data collection, report writing, understanding the Civil Service Code, Rules and Regulations.
By the Department of Public Relations
The Parliament of Sierra Leone has extensively debated and ratified two international Agreements that are geared towards the implementation of the UN Convention on the law of the sea and the promotion of compliance with international conservation and management measures by fishing vessels on the high seas.
Observing, the Rt. Hon. Speaker of Parliament, Dr. Abass Chernor Bundu spoke on the need for coming up with regulations to give effect to these Agreements and recalled that the UN Convention on the law of the sea had been adopted by countries since 1982, adding that since the Migratory Convention was adopted in 1995, it was only after a period of 24 years had lapsed before Sierra Leone could think of ratifying it, “the reason why a yellow card had been issued to the country”.
By Prince C. Kamara
Alhaji Alpha Tanu Jalloh
Alhaji Alpha Tanu Jalloh, President of Sierra Leone Importers Association, says the current business trend is very difficult and that as an association, they are calling on the government to see how they can help the association solve the problems facing importers in Sierra Leone.
Speaking on the currency situation he said: “we have been pleading with the government to let us try a policy involving the national banks going through the Ministry of Finance to arrange for a forum with importers wherein we would see how we can peg our money at least for six months so that we would create standards. But at present it is highly challenging to live in a region wherein we cannot compete with our neighbors like Liberia and Guinea.”
Three weeks after the UBA group launched its operations in Mali, the global financial city of London hosted a high level gathering of business and public sector leaders on Thursday February 28, 2019, as the new UBA franchise, UBA UK was formally birthed in the United Kingdom amidst high expectations.
At the upscale ceremony which was held at The Prestigious Shard in the city of London, UBA UK was formerly introduced to business leaders across Europe and Africa with a commitment from the UBA Group of its readiness to galvanise trade and commerce between Europe and Africa.
The depreciation of the Leone over the past few weeks is a growing concern to consumers, firms and policy makers. Over the past year we’ve seen a 20% decline in the Leone relative to the U.S. Dollar. Currency depreciation is not necessarily a bad thing, but the current structure of the Sierra Leone economy not only makes it difficult for the country to enjoy the benefits but also increases the costs to consumers. As policy makers worry about the undesirable effects of this decline on consumer prices and interest rates, they should also examine the possible root causes and take steps that would bring relative stability to the currency. Our policy makers should not only focus on imbalances in the current account, but they should also explore capital account imbalances, if business community is reducing its exposure to the Leone because of reduced confidence in the economy. This business exposure reduction can be done by transferring capital abroad or converting it to foreign currency (forex) to secure the value of the capital. Prolonged volatility in the currency could trigger a balance of payments crisis that will undermine the fragile confidence in the economy.
The Tony Elumelu Foundation (TEF), the leading African philanthropy committed to empowering African entrepreneurs has announced 3,050 African entrepreneurs, drawn from all 54 African countries, selected to join the 5th cycle of its $100million TEF Entrepreneurship Programme.
The announcement was made at the Transcorp Hilton Abuja, following a presentation of the selection process by Accenture Development Partners.
SL Mining in Sierra Leone appoints Dr. Sheikh Umarr Kamarah as Community Relations and Development Director
Dr. Sheikh Umarr Kamarah
Sierra Leone, 20 March 2019: SL Mining Limited, a wholly owned subsidiary of Gerald Group, engaged in the exploration, development and production of iron ore concentrate at Marampa in the Port Loko District, Northern Province of Sierra Leone is pleased to announce the appointment of Dr. Sheikh Umarr Kamarah, a Sierra Leone native, as Community Relations and Development Director. Professor Sheikh has agreed to bring his extensive public service experience to this role, which coupled with his knowledge of Sierra Leone, best positions SL Mining to develop projects that will be in the best interest of all stakeholders.
By Mohamed Kai
Members of the Indian Community in Sierra Leone have expressed discontentment over the brutal attacked of a Sierra Leone businessman on Sunday 17th March this year at No.20 Guard Street in the eastern part of Freetown.
Sierra Leone, a country in West Africa. She has a special significance in the history of the transatlantic slave trade as the departure point for thousands of West African captives. The capital, Freetown, was founded as a home for repatriated former slaves in 1787.
The High Commission of Sierra Leone is already in Ghana. She will be extending invites regarding the Investor Seminar ‘Sierra Leone Investment Day in Ghana’.
By Mohamed Lamin Banya
The General Manager of the National Petroleum Sierra Leone Limited (NP-SL Ltd), Kobi Walker has said that the company is owned and controlled by 35 non-political Sierra Leoneans. He debunked earlier rumor doing the round that the NP is owned by former President Ernest Bai Koroma.
Inside the Medical Stores at New England
By Prince C. Kamara
The Pharmacy Board of Sierra Leone (PBSL) has informed journalists that it is investigating the possible presence of a fake brand of the cough syrup named Menthodex that is reported to be flooding the market.
The PBSL move was prompted following information circulated on social media about a sample of the syrup in question with a wrong production date of April 2019. Those who circulated it on social media claimed it is now flooding the Sierra Leone market.
The newly-appointed Managing Director, Ahmed Saybom Kanu is taking the Sierra Leone Shipping Company (SLNSC) to a new direction after he successfully held his first meeting with the management and staff.
According to a number of staff who attended the well-attended meeting, Mr. Kanu thanked them for the reception and promised to work together with each and every staff to bring positive reform and restore profitability to what he described as an institution that was floundering before now.
The International Finance Corporation (IFC), an agency of the World Bank Group, has held a forum at the Radisson Blu Mammy Yoko Hotel in Freetown with the objective to facilitate the matching of commercial investors with mid-size, scalable companies seeking investment.
The event, dubbed – ‘Investor CONNECT Sierra Leone’ – brought together private investors to discuss options to address solutions to difficulties facing private sector growth, from both investors’ and business owners’ perspective.
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