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Africell Launches 5G Network in Sierra Leone


Africell, Sierra Leone’s premier mobile network provider, unveiled its advanced 5G network on Thursday, October 26, 2023. The event, which attracted high-ranking government representatives, industry leaders, and media personnel, was held at the Sea View Lounge, New City Hall, Freetown.

Prominent figures present included Chief Minister, Dr. David Moinina Sengeh, Ministers Chernor Bah and Hon. Salima Bah, Ambassador Joe Blell, Chairman of the NatCa Board, and Mr. Amara Brewah, Director-General of the National Telecommunications Authority (NaTCA).

Shadi Gerjawi, Africell’s CEO, shared the company’s transformative journey from its 2G roots through its 4G era, and now to the groundbreaking 5G technology. He emphasized that 5G, being 100 times faster than 4G, plays a pivotal role in closing the digital gap, thereby enhancing lives.



As part of the event, Africell also showcased a new multi-functional mobile application, accessible via a QR code. The app provides various services, ranging from bill payments for utilities and services like EDSA, WAEC, DSTV, and Mercury, to facilitating financial transactions and complimentary SMS services for users.

Reiterating Africell’s broader vision, Gerjawi said, “Africell’s mission goes beyond being a telecommunications provider; it demonstrates our commitment to being a responsible corporate citizen.” He lauded Africell’s ongoing efforts in sectors like education, health, and youth empowerment.

He also extended heartfelt gratitude to the Sierra Leonean government, especially to Minister Salima Bah, Ambassador Joe Blell, and Director-General Amara Brewah for their unwavering faith in Africell’s mission.

In his remarks, NaTCA’s Director-General, Mr. Brewah, celebrated the arrival of 5G in the nation as a monumental step towards embracing a digitized future. He stressed the invaluable partnership between telecommunications giants and NaTCA, highlighting the anticipated advancements in internet quality, economic growth, education, healthcare, and governance.

Mr. Brewah also addressed the impending tariff hikes, reassuring that the enhanced quality of internet service would provide value proportionate to the costs.

Africell’s 5G network signifies Sierra Leone’s steadfast march towards a technologically advanced and interconnected tomorrow.



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Air France’s Final Flight Leaves Sierra Leone as Operational Suspension Takes Effect


October 28th, 2023 marked the final day of Air France’s operations in Sierra Leone. The airline bid adieu with its last flight departing from Freetown International Airport, heading to Paris via Guinea Conakry. This departure came following the airline’s earlier announcement of the suspension of its services at FNA due to persistently low passenger numbers, resulting in substantial financial losses.

For over two decades, Air France has been a prominent contributor to Sierra Leone’s tourism and aviation sector, aiding the government in job creation and bolstering the country’s revenue through tax payments. However, the dwindling profitability rendered the continuation of operations unviable, causing the regrettable cessation of services.

This development has significantly impacted Sierra Leone, particularly amidst the recent inauguration of the country’s state-of-the-art airport. The absence of Air France not only stands as a substantial loss but also raises concerns about reduced competition among the limited airlines operating within the nation.



The reduced competition might precipitate higher ticket prices for passengers traveling in and out of Freetown International Airport. This increase in costs could potentially burden travelers, posing a concern for the accessibility and affordability of air travel in and out of Sierra Leone.

The discontinuation of Air France’s services is a setback for the nation’s aviation industry, casting a shadow over the immediate future of air travel within Sierra Leone. As the country navigates this change, stakeholders are left contemplating the impact on both the economy and the ease of travel for its citizens and visitors.



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Sierra Leone Civil Aviation Authority Addresses Rising Air Ticket Prices


During the Ministry of Information and Civic Education’s Press Conference on October 24, 2023, the Director General of the Sierra Leone Civil Aviation Authority, Musayeroh Barrie, addressed the pressing issue of escalating air ticket prices.

Barrie highlighted several key factors contributing to the surge in ticket costs, shedding light on the challenges faced by both passengers and the government.

In her statement, Barrie emphasized that the increase in air ticket prices can be attributed to a combination of factors, including passenger volumes, reduced airline options, and the relentless impact of inflation.



In her words, “passenger volumes, fewer airlines, and inflation are among the factors that influence air tickets.”

She disclosed her own firsthand experience, having purchased a ticket from Freetown to London on the same day, October 24, 2023, at a cost of $1871. Of this sum, only $139 constituted government taxes, underlining that the vast majority of the ticket price is beyond the government’s regulatory influence.

This revelation underscores the complexities surrounding the air travel industry, where external factors play a significant role in determining the final cost of tickets.

As passengers grapple with rising expenses, Director General Musayeroh Barrie’s statement brings attention to the challenges faced by governments and regulatory bodies in managing airfare costs, striving to strike a balance between affordability and maintaining a sustainable aviation sector.



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Heavy Taxes Force Business Shutdowns in Freetown


Shops and businesses in Sierra Leone’s capital, Freetown, have been forced to close their doors due to the burden of heavy taxes imposed by the government. The situation remains in limbo as it’s unclear when these businesses will be able to resume operations.

As part of the government’s efforts to staunch revenue leakages, the installation of electronic machines is being implemented to ensure that not a single cent is lost. This initiative aligns with President Julius Maada Bio’s manifesto of blocking fiscal inefficiencies. Unfortunately, shop owners have placed blame on the National Revenue Authority (NRA) for exacerbating the harsh economic environment that they face daily.

Facing the brunt of this economic crunch, many traders have made the painful decision to leave Sierra Leone in search of more business-friendly climates in neighboring countries, with Liberia being the preferred destination to escape harassment and undue hindrances.



The situation has only worsened with a recent press release from the NRA, which imposes fines on taxpayers failing to integrate or complete the integration processes with the Electronic Cash Register (ECR) system. The press release warns that non-compliance will result in a penalty of 250,000,000 Leones and potential revenue loss assessments. The NRA, represented by Commissioner-General Ibrahim Brima Swarray, has given taxpayers a two-month grace period starting from October 20th of this year, during which the integration process can be facilitated for a minimal fee. Failure to meet this deadline will invoke penalties stipulated by law.

This shutdown marks the latest in a series of protests by businessmen in Freetown, with the introduction of the Goods and Services Tax (GST) system in 2022 being a major point of contention. Under this system, electronic machines will record sales and collect taxes, primarily affecting various businesses such as supermarkets, hotels, restaurants, bars, and more. The business community has expressed deep discomfort with these changes, viewing them as a form of economic exploitation, particularly in these times of economic hardship.

In response, businesses have grumbled that the NRA’s insistence on using these machines is an unnecessary burden and a potential exploitation of their economic challenges. Failure to issue a GST receipt generated from ECR machines can result in severe penalties, including hefty fines or imprisonment. To keep business afloat, GST taxpayers are required to notify the NRA of any issues during the installation and operation of these machines within 24 hours. They must also regularize their registration information to obtain a new Taxpayer Identification Number and install the machines promptly.

The relationship between the government and traders has deteriorated significantly due to these measures, leading to a dire business environment, with businesses folding under the strain. Business owners are now calling on the government to protect their businesses rather than impose further hardships.





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Send Money For Free With The Orange Money App


Orange Money is offering its customers the opportunity to send money with absolutely no charges.

This limited-time offer allows users to make transactions without incurring any fees, making it easier and more affordable to send money to family and friends.

To take advantage of this incredible offer, all you need to do is download the Orange Money App on your Android or iPhone device. Here are the download links:



Android Users: Download the Orange Money App on Google Play – https://play.google.com/store/apps/details?id=com.orange.orangemoneyafrique

iPhone Users: Download the Orange Money App on the App Store – https://apps.apple.com/fr/app/orange-money-afrique/id1313536959

This free money transfer promotion is available until the 31st of October, 2023, so don’t miss out on the opportunity to send money to your loved ones without any charges. Make your transactions hassle-free with Orange Money today!



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34,000 Workers to Benefit From ARISE IIP Multi-Million Dollars First Phase Investment


In a strategic move to showcase Its ongoing progress on the construction of their industrial Zone, Arise Integrated Industrial Platforms [ARISE IIP] has conducted a special visitation tour with Journalists, Community stakeholders to monitor construction work on Friday 20th October, 2023 at Koya.

The ongoing construction work is part of the project, which was launched by His Excellency President Julius Maada Bio on 26th April 2023, marking as a pivotal moment for the foundation of the Special Koya Industrial Zone (SIZ-Koya) in Koya Chiefdom, Port Loko District



Speaking on the rationale behind ongoing Project, Ambassdor Anthony Navo thanked the government and the Koya community stakeholders for being very supportive to make the project success. He revealed that this is the first media tour at the Koya Sierra Leone Industrial zone since his Excellency President Julius Maada Bio launched the Project some months adding that the work commenced on the 1ST of September with a 24 months Plan to complete the first phase of the Project.

“In the first Phase we are going to build the first set of factories with 15O hectares land space. This factory will also have to transport local produce across the country because ARISE also support farmers across Sierra Leone because we are doing a 500 megaton rice mill here. If farmers are planting rice, they will be give seed money, fertilizers and after harvesting they sell to ARISE. That is why we are praying for us to get the transportation train to bring these various produce inside the zone because it’s a twin project. You went to Gabon and see how train went to up country pick produce and come to the zone and it is the same format. For the entire Project in Phase one we target to employ 34,000 workers before we go to phase 2 and 3,”  Navo stated.

He further revealed that the estimated worth of the first Phase project is 410 million dollars and they are also planning to build a 200megwatts powers to generate electricity for the Industrial zone sell some to the government. He affirmed that if all things being equal the first phase is expected to be completed in 24 months.

Appreciating the groundbreaking investment, Paramount Chief Bai Kompa Bomboli 111 of Koya Chiefdom Port Loko started by thanking the almighty God and the various institutions for witnessing the historic development. He recalled that when the President commissioned the Project he spoke with them and encouraged the entire people of Koya Chiefdom to embrace the Project. He confirmed that when the initiative was brought to him about the construction of ARISE industrial Zone he was a bit worried. However, considering the fact that Koya has 19 or Area or rural Chiefdoms, a boundary with Moyamba District, Western Area rural and Urban and he is unable to create Jobs for them adding that he believes this investment will change the narrative. He thanked the ARISE Investors and President Bio for being very kind to his community.

He urged Journalists to do proper investigative Journalism and report fairly. He recalled that at first people were attributing the launching of the project as a political stunt but now politics is over and the Project is ongoing. He emphasized that if the Industrial Zone is created thousands of youths will benefits the youths Sierra Leone devoid of background or region. He affirmed that the Jobs that ARISE will be providing will help to reduce unemployment and crime rates in the country. He encouraged Journalist to reach out to them if they have any doubts or want to make clarifications.

The Construction Manager  Santosh  Goham pointed out that ARISE believes that the investment in Sierra Leone will to create a sustainable economic development  for the country and their operational areas. He confirms that they have already started to construct a boundary wall which covers 150 Hectares of land. He assured that they will achieve the construction of International Ideal Production standards which include roads, water, electricity supply system, storage, warehouse facilities and Logistics adding they will make provision for the Inland Container Port in collaboration with the Port authorities. He emphasized that in the first phase their commitment will cover the Manufacturing of Rice Mill, Pharmaceuticals, Tiles, Recycling, Paints, amongst others small and large scale Manufacturing. He confirmed that they are also working simultaneously with their International Partner for the creation of Power to provide sustainable electricity for effective production in the Industrial Zone.

ARISE Integrated Industrial Platforms (ARISE IIP) is also expecting the arrival of Passenger Railcars in the country. This initiative is part of a broader strategy to revamp the mining sector, offering improved access to rail and port facilities and stimulating economic activities.

 



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RC Bank Hits Le94 Billion Profit Amid Unprecedented Expansion And Digitization


The Bank of Sierra Leone has approved the 2022 financial statements and balance sheet of the Rokel Commercial Bank, showing a staggering profit (before tax) of Le94BN (Ninety-four Billion Old Leones), representing a 5.96% increase from Le88BN. (Eight-Eight Billion Old Leones) profit in 2021.

Customer deposits also grew from Le1.7 Trillion (old Leones) in 2021 to Le2.4 Trillion (Old Leones) in 2022. While its 2023 balance sheet is yet to be reported, sources say RCbank is set to announce a record-breaking profit of aroud Le200 BN (Two Hundred Billion old Leones) this year. The bank has again pulled this through in the midst of a harsh global economic environment invariably affecting the local economy.

Clearly, the Rokel Commercial Bank is unrelenting in its pursuit to become the biggest and most digitalized financial institution in Sierra Leone and the entire sub region.



Currently, the bank boasts of the highest number of branches and cash points across the country triggering an exponential increase in customer base.  In September, this year RCbank launched a number of Electronic Banking (E-Banking) products and services, prominent among are Pre-Paid Cards, Visa Cards and cardless Automated Teller Machines (ATMS).

While plans are afoot to extend these user friendly and highly securitized banking cards to other institutions, the bank is completing the installation of 20 additional ATMs to its current stock of 15 at branches and outlets nationwide – leaving the Rokel Commercial Bank with largest spread of ATMS ever in the history of the Sierra Leone banking industry.



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President Bio Pledges Support For Business Growth in Sierra Leone


Sierra Leone’s President Julius Bio made a resounding commitment to bolster business development in Sierra Leone during his address at the Rebranding Africa Forum meeting held in Brussels on 20 October 2023.

President Bio emphasized his dedication to supporting and encouraging business growth in Sierra Leone while addressing officials and fellow African leaders. He stressed the strong and harmonious relationship between the government of Sierra Leone and the private sector, underscoring a robust bond that facilitates cooperation.

The President’s statements were corroborated by the recent annual political dialogue he had with the European Union and various private companies operating in Sierra Leone, reflecting the collaborative efforts to promote economic progress.



“I am here fighting, or attempting to be a marketer because I want to convince you that I am up to the task,” President Bio declared.

He expressed his unwavering commitment to attracting more businesses to Sierra Leone, stating, “Whatever it takes to bring more businesses into Sierra Leone, I am prepared to convince you and provide support.”

President Bio’s remarks highlight his administration’s dedication to fostering economic growth and strengthening Sierra Leone’s position as an attractive destination for investments and business development.

The Rebranding Africa Forum provided a platform for African leaders to discuss strategies for enhancing the continent’s economic prospects, and President Bio’s strong endorsement of Sierra Leone’s private sector aligns with the broader goals of the event.



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Ministry of Finance Engages Sierra Leone Private And Banking Sector on FY2024 Proposals


Sierra Leone’s Ministry of Finance has engaged the banking sector and other key private sector players in the 2024 finance bill formulation.

The Ministry commenced consultations with these sector players in developing tax policies to form part of the 2024 Finance Bill to be tabled by the Minister of Finance later this year for proper justification and approval.

These consultations according to them are part of the Ministry’s approach to formulating revenue and tax policies with public institutions and the private sector to get their input and seek cooperation when these policies eventually come into effect.



They maintained that the engagements would continue with Importers, exporters, Local Manufacturers, Telecoms, and private sector players.



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AfriMoney Announces Free Daily Money Transfers For Customers


Africell, one of the leading mobile money service providers, has announced a new, customer-centric initiative. Under the slogan, “Send Money for FREE everyday on Afrimoney,” the company is now offering its users the opportunity to send money without incurring any charges, regardless of the transaction amount.

Africell’s Afrimoney, a trusted mobile money platform, has long been recognized for its commitment to customer satisfaction and its dedication to simplifying financial transactions for its user base. This new offer underscores the company’s mission to make financial services more accessible and affordable for all.

Africell confirmed this new offer in their recent SMS message they sent to their customers, “Send Money for FREE everyday on Afrimoney. Zero charges, no matter the amount EVERYDAY only on Afrimoney. Dial 1611# now. Afrimoney cares for you.”



From their message, customers are now able to send money to friends, family, or business associates without the burden of fees or transaction costs. This bold move aligns with Afrimoney’s motto, “Afrimoney cares for you,” demonstrating the company’s unwavering commitment to the financial well-being of its customers.

To take advantage of this exciting offer, customers can simply dial 1611# on their mobile devices and follow the prompts to initiate fee-free money transfers on Afrimoney. This initiative is set to make a significant impact on mobile money services in the region, empowering users to manage their finances with greater ease and convenience.

Africell’s Afrimoney is expected to gain even more prominence in the mobile money service sector with this initiative, setting a precedent for affordable and customer-friendly financial solutions in the region.



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