The price of oil has fallen sharply after the United States and Iran paused attacks, raising hopes that the conflict between the two countries may calm down.
Brent crude oil, which is used as a global price guide, fell by more than 9% after rising above $100 per barrel last week.
The drop happened after both countries announced that attacks had stopped temporarily to allow possible talks.
The conflict had caused oil prices to rise because of fears that oil supplies could be affected, especially through the Strait of Hormuz, an important route for transporting oil around the world.
Oil prices had earlier fallen after efforts to reduce the conflict, but they increased again when fighting restarted, and concerns about energy supplies grew.
By Monday, oil prices were still lower, but experts warned that the situation remains uncertain because the conflict could change at any time.
Analysts said countries are watching the situation closely because continued tensions could affect fuel prices and global energy supplies.
The development of a new dry port facility at Kent is expected to reduce cargo pressure at the Queen Elizabeth II Water Quay in Freetown. Constructed by Gento Group, the dry port will ease pressure on existing port facilities, and create new economic opportunities as the country expands its maritime infrastructure.
The project came under review on Saturday, 25 July 2026, when Chief Minister Dr. David Moinina Sengeh and Minister of Transport and Aviation Ambassador Col. (Rtd.) Alhaji Fanday Turay Esq. inspected the Gento Group’s Dry Port Project in Kent, Freetown.
The inspection highlighted the government’s continued focus on improving infrastructure through partnerships with private investors to support trade, transportation, and economic development.
During the visit, Chief Minister Sengeh described the project as a major step towards transforming Sierra Leone’s port and logistics landscape. He said the development reflects the government’s vision of turning investment commitments into practical projects that deliver national benefits.
He praised the collaboration between the government and Gento Group, noting that the project demonstrates growing confidence in Sierra Leone’s economy.
Gento Group Chief Executive Officer Mohamed Gento Kamara said the company’s operations are already providing employment opportunities, with more than 600 workers engaged, most of whom are Sierra Leoneans. He added that the company is working with technical partners while ensuring environmental standards are maintained.
The Kent Dry Port is expected to help reduce congestion at the Queen Elizabeth II Quay by providing additional space for cargo handling as trade volumes increase. Officials believe the facility will improve efficiency, lower business costs, and support economic growth.
Minister of Transport and Aviation Ambassador Col. (Rtd.) Alhaji Fanday Turay Esq. said the government remains committed to developing a modern transport system capable of supporting investment and strengthening Sierra Leone’s position within the regional maritime sector.
He noted that projects such as the Kent Dry Port, alongside other maritime initiatives, are part of wider efforts to create jobs, improve trade networks, and unlock the country’s economic potential.
The inspection reflects the government’s continued engagement with major infrastructure projects aimed at building a stronger and more competitive logistics sector for Sierra Leone.
Orange Middle East and Africa (OMEA) has published its 2025 Corporate Social Responsibility (CSR) Report, titled Building the Future Together, highlighting the company’s continued investment in digital inclusion, resilient infrastructure and sustainable development across Africa and the Middle East.
The report outlines Orange’s efforts to promote inclusive economic growth through expanded digital, financial and energy services while strengthening infrastructure and advancing responsible corporate governance.
Serving more than 179 million customers across 18 countries and supported by nearly 19,000 employees, Orange said its strategy is centred on building resilient infrastructure, expanding access to digital opportunities and maintaining high standards of ethics, transparency and sustainability.
According to the report, the company continues to invest in stronger and more secure telecommunications infrastructure through artificial intelligence, cybersecurity, renewable energy solutions and the expansion of network coverage. It also highlighted initiatives aimed at reducing environmental impact, including the increased use of solar-powered sites and the adoption of circular economy practices for digital equipment.
Orange also showcased the expansion of its digital ecosystem through services such as Max it, Orange Money, Orange Bank Africa, Orange Energies and affordable Sanza smartphones, which are designed to improve access to digital, financial and energy solutions for millions of people across the region.
A major focus of the report is the impact of the Orange Digital Centres, now operating in 16 countries. The centres have supported approximately 1.4 million beneficiaries by providing digital skills training, internationally recognised certifications, entrepreneurship programmes, business incubation and access to startup funding.
Orange said it aims to increase the number of young people trained through the initiative to three million by 2030, reinforcing its commitment to youth employability, entrepreneurship and digital skills development.
The report also highlights the company’s emphasis on responsible governance through diversity and inclusion initiatives, employee development programmes and the Orange Engage for Change initiative, which encourages staff to participate in social and environmental projects across the region.
Commenting on the report, Orange Middle East and Africa Chief Executive Officer, Yasser Shaker, said the company’s success is measured not only by the strength of its networks but also by the positive impact it creates for communities.
He said continued investments in resilient infrastructure, inclusive services and talent development are laying the foundation for sustainable growth across Africa and the Middle East.
Executive Director for CSR, Orange Digital Centre and Communications at Orange Middle East and Africa, Asma Ennaifer, said the company’s ambition is to place technology at the service of people by creating opportunities for learning, entrepreneurship, financial inclusion and access to sustainable energy.
She added that employee engagement and community-focused initiatives remain central to Orange’s vision of building a more inclusive, resilient and sustainable future throughout the region.
Orange Middle East and Africa reported revenue of €8.4 billion in 2025 and said Orange Money, now available in 17 countries, serves more than 120 million customers, reinforcing the company’s position as one of the region’s leading digital transformation partners.
West African leaders have reaffirmed their commitment to launching the long-awaited single currency, the ECO, in 2027 as a key instrument for deepening regional economic integration.
The decision was contained in the final communiqué of the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government, held on July 19 in Freetown.
The Authority resolved that the launch of the ECO shall commence with those countries that meet the established macroeconomic convergence criteria and are ready to participate. Countries not yet ready will receive appropriate support to facilitate their subsequent accession to the single currency.
To qualify for the monetary union, member states must meet benchmarks including maintaining a budget deficit of no more than 3 percent of GDP, keeping annual inflation below 10 percent, and holding gross external reserves equivalent to at least three months of import cover.
The first phase of implementation is expected to involve Sierra Leone, Liberia, Nigeria, Ghana, Guinea, and The Gambia, subject to compliance with the agreed criteria and finalization of institutional governance structures.
The Authority further directed the ECOWAS Commission to intensify consultations with Central Bank Governors to formulate consensual proposals on outstanding issues essential for the currency’s introduction. It also welcomed the registration of the name “ECO” with the African Intellectual Property Organisation (OAPI) and directed its registration with other relevant international bodies.
Additionally, the Authority approved a request from the Republic of Guinea to join the Presidential Task Force on the ECOWAS Single Currency Programme. The Commission is instructed to convene a meeting of this expanded Task Force prior to the next Ordinary Summit in December 2026, working in collaboration with the President of Côte d’Ivoire, who currently serves on the task force.
The push for the ECO, a decades-old ambition that has faced multiple delays, mirrors aspects of the European Union model and aims to reduce exchange rate risks, cut transaction costs for businesses, and stimulate trade across West Africa .
The African Development Bank (AfDB) has concluded a 10-day Policy-Based Operation Appraisal Mission in Sierra Leone, marking renewed cooperation on budget support after a three-year suspension.
The mission concluded with a meeting on Thursday, July 16, with Financial Secretary Matthew Dingie, where officials reviewed progress on key reforms, prior actions, and requirements needed for consideration by the AfDB Board.
Dingie expressed appreciation to the AfDB for its continued support, noting that the renewed engagement would contribute to Sierra Leone’s fiscal management and development priorities.
Chief Economist Alimamy Bangura said the mission was a follow-up assessment of progress made on agreed reforms and triggers under the 2026 and 2027 programmes. He added that discussions with Ministries, Departments, and Agencies were thorough and aimed at ensuring readiness for implementation.
Senior Governance Officer Andara Kamara outlined the reform measures required for the 2026 disbursement of $11.5 million, expected between September and November.
The measures include strengthening fiscal efficiency, transparency, and accountability; advancing inclusive and sustainable reforms in the mining and transport sectors; submitting the Public Financial Management Strategy; implementing audit recommendations; approving and launching the MAPS II implementation plan; introducing the Sierra Leone Critical Minerals Strategy; and securing Cabinet approval for the National Transport Sector Policy, which covers urban mobility, traffic management, and e-mobility.
Kamara said the required actions are already at an advanced stage and are expected to be completed before the scheduled disbursement.
For the 2027 programme, the agreed reform targets include drafting amendments to the Public Debt Management Act of 2011, deploying the GoAML system at the Financial Intelligence Unit, securing Cabinet approval of the revised Public Procurement Act of 2016, and approving the draft Beneficial Ownership Disclosure Regulation.
Financial Secretary Dingie expressed confidence that the 2026 Cabinet-level policy actions would be completed without delay, noting that legislative reforms usually require more time due to the approval process.
The AfDB mission was led by Senior Governance Officer Andara Kamara and included Ibrahim Bangura, Principal Governance Officer; Prosper Charle, Senior Country Economist; Philip Doghle, Regional Financial Management Coordinator; Kombo Koroma, Financial Management Specialist; Douglas Tsise, Procurement Specialist; Alex Yeanay, Senior Fragility Expert; Betty Wangozi, Chief Gender Specialist; and other officials.
The conclusion of the mission reinforces the renewed partnership between Sierra Leone and the AfDB, with the support expected to strengthen fiscal reforms, governance, and sustainable economic development.
Easy Solar has received international recognition after its partnership with the REAL Programme Catalyst contributed to winning the 2026 Ashden Award for Solving Energy Challenges, one of the world’s most respected honours for climate and clean energy innovation.
The award, presented by the UK-based Ashden organization, recognizes initiatives that are delivering practical solutions to climate and energy challenges while improving livelihoods. The REAL Programme Catalyst was honoured for its work in expanding access to clean, affordable electricity through its Energy as a Service model, implemented in partnership with Easy Solar across rural Sierra Leone.
Easy Solar described the recognition as a significant milestone for both organizations, noting that the award highlights the growing global impact of efforts to expand reliable energy access to underserved communities.
A key feature of the award presentation was the inclusion of Easy Solar’s Managing Director for Energy as a Service, Akam Kpaka, who appeared in the award video discussing the company’s work through the Lite Salone initiative. The video also showcased rural communities benefiting from the programme, underscoring Sierra Leone’s contribution to advancing global energy access.
According to Easy Solar, the partnership with the REAL Programme has developed into Africa’s largest Energy as a Service initiative, providing clean electricity to thousands of households through a fully maintained, service-based model that eliminates upfront installation costs.
The company highlighted Kambia District as a major success story, where it has installed 10,000 solar home systems, enabling households to access reliable lighting, phone charging and other essential electricity services. The initiative has reduced dependence on kerosene lamps and other unsafe or unreliable energy sources while improving living conditions for rural families.
Easy Solar said the Energy as a Service model ensures that customers receive continuous maintenance and technical support, allowing households to benefit from reliable electricity without the financial burden of purchasing and maintaining solar equipment outright.
The company noted that the Ashden Award adds to a growing list of international recognitions it has received in recent years, including being named among TIME’s World’s Top GreenTech Companies, receiving the World Economic Forum’s Schwab Foundation Outstanding Social Entrepreneur of the Year Award in 2019, and being listed among the Financial Times’ Africa’s Fastest Growing Companies in 2023.
Easy Solar stated that the latest recognition reinforces confidence in its approach to rural electrification and demonstrates that large-scale, sustainable energy access can be successfully delivered in underserved communities.
The company congratulated the REAL Programme Catalyst on the achievement and expressed appreciation to its staff, partners and the communities that have supported the initiative, reaffirming its commitment to expanding access to clean and reliable electricity across Sierra Leone.
Closing on July 24th, 2026,at 13:00 hrs (Sierra Leone Time)
A. Background
The United Nations World Food Programme hereinafter referred to as the “WFP”, with its Headquarters located in Via C.G. Viola, 68/70, 00148 Rome, Italy is the leading humanitarian organization saving lives and changing lives, delivering food assistance in emergencies and working with communities to improve nutrition and build resilience by assisting almost 100 million people in around 83 countries each year. About 17,000 people work for the organization, most of them in remote areas, directly serving the hungry poor.
The WFP Nutrition, Sierra Leone Country Office seeks to purchase the service of a Women-led enterprise with experience in food Processing for the production of fortified complementary foods, with Local food This is part of the Strengthened Agricultural Value-chain through Infant Nutrition for Growth (SAVING) an EU funded project, supporting Infant food value chain. Improve sustainability, efficiency and inclusivity of infant food value chains, using climate-smart approaches .
The primary objective of this assignment is to engage a capable, committed, and nutrition-focused Women-Led Enterprise to: Operate and manage the local food processing facility in a financially sustainable and food-safe manner.
WFP invites eligible suppliers to express their interest in providing the requested services.
B. The purpose of this EOI
The purpose of this request for EOI is to identify suppliers with verified technical and financial capacity to perform the services listed above. Eligible service providers will be invited to participate in the bidding process for the proposed tender.
Eligibility to participate in the proposed tender will be determined on the basis of Facility management and Operations 2. Nutritionally focused product development 3. Food Safety and Quality management. 4. Business development and Marketing.
After the deadline for submission of responses has passed, WFP will evaluate responses received and will notify eligible participants of the outcome of the evaluation.
C. How to prepare and submit your Expression of Interest
In order to participate in the pre-qualification exercise, companies are required to provide the following:
The filled in EOI Response Form, which includes:
Table 1. WFP Requirements
Table 2. Supplier Information;
Table 3. Supplier Financial Status;
Table 4. Supplier Relevant Experience;
[List any additional required documents, as applicable];
Signatory by the authorized company representative and company stamp.
All supporting documentation listed above shall be prepared in accordance with the instructions provided and [sent by email to ([email protected]]].
WFP will not consider incomplete or unsigned submissions. All responses and supporting documentation received will be treated strictly as confidential and will not be made available to the public.
This request for EOI does not constitute a solicitation. WFP reserves the right to change or cancel this procurement process or any of its requirements at any time during the process; any such action will be communicated to all participants.
Should you have any questions please do not hesitate to contact us at [email protected].
Sierra Leone Commercial Bank Limited (SLCB) has assured its customers and the general public that a temporary disruption to some of its banking services on Friday, June 26, 2026, was caused by an unexpected technical glitch, which has now been fully resolved.
In a public notice, the bank confirmed that all services have since been restored and operations across its branches have returned to normal.
SLCB emphasised that the disruption was strictly technical and not related to cash availability or the bank’s liquidity position. The institution reassured customers that it maintains sufficient cash reserves to meet their needs at all times.
“We wish to reassure the public that the issue was purely technical,” the statement noted, adding that customers can continue to carry out their transactions without concern.
The bank expressed regret for any inconvenience caused during the brief interruption and thanked customers for their patience, understanding, and continued confidence.
SLCB further reiterated its commitment to providing secure, reliable, and uninterrupted banking services, stating that measures are being strengthened to enhance system resilience and prevent similar occurrences in the future.
The bank also expressed appreciation for the continued trust and support of its customers and the general public.
The former Executive Director of Union Trust Bank (UTB),Wusu Bai Koroma, claimed that the Bank of Sierra Leone treated them unfairly when their bank was liquidated. Koroma made this claim during an interview with Ecko Media.
The former Executive Director expressed deep disappointment over the closure, asserting that the indigenous financial institution was “unfairly treated” despite emerging from a prolonged period of financial distress and attracting viable recapitalisation offers.
During the interview, Koroma stressed UTB’s unique position in the nation’s financial sector as the only fully indigenous bank in Sierra Leone.
“We were the only indigenous bank in Sierra Leone, meaning we were the only bank owned and managed by Sierra Leoneans,” Koroma stated, noting that the bank’s stakeholders comprised both local corporate entities and individual Sierra Leonean citizens.
When questioned about why these shareholders failed to mobilise a bailout package before the Central Bank intervened, Koroma clarified that while they could not coordinate in time, internal conflict was not the cause. Instead, he pointed to a challenging six-year period of financial losses that had severely dampened investor confidence.
According to the former Executive Director, the bank’s leadership had recently managed to reverse its fortunes through rigorous restructuring.
“We took some prudent measures, we made a lot of sacrifices for the six years we were making losses,” Koroma explained. “But we turned things around.”
He noted that as the bank returned to profitability, interest from potential investors surged. In the months leading up to the liquidation, UTB reportedly received multiple financial injection offers from both domestic and international corporate entities and private investors.
Koroma revealed that UTB had forwarded concrete investment proposals to the Central Bank aimed at meeting the required minimum capital threshold. However, he claimed these submissions were entirely ignored by the regulator.
“We had proposals that we sent to the Central Bank. They were not responded to, they were neither acknowledged… they were never even addressed,” Koroma said, adding that the Central Bank failed to engage with the interested investors to review their terms.
When asked how he felt seeing the institution slip away, Koroma did not mince words: “Unfairly treated.As a Sierra Leonean, as a Sierra Leonean business, unfairly treated.”
The Bank of Sierra Leone has maintained that its actions against non-compliant financial institutions are strictly regulatory measures intended to protect depositors and maintain the stability of the country’s financial system.
The Bank of Sierra Leone has increased its Monetary Policy Rate (MPR) by 0.25 percentage points to 17.0 percent, citing rising inflationary pressures and heightened global uncertainty driven by geopolitical tensions in the Middle East.
The decision, reached by the Monetary Policy Committee (MPC) at its meeting on 12 June 2026 and approved by the Bank’s Board of Directors on 15 June, took effect on 17 June 2026. The Standing Lending Facility Rate and Standing Deposit Facility Rate were also adjusted upwards to 21.0 percent and 11.5 percent, respectively.
Governor Dr. Ibrahim L. Stevens chaired the MPC meeting, where members reviewed recent global and domestic macroeconomic developments and assessed risks to inflation and growth.
The Committee noted that the global economic outlook has become increasingly uncertain, largely due to geopolitical tensions in the Middle East. The disruption of energy supply routes, particularly the closure of the Strait of Hormuz, has adversely affected global energy markets, increased shipping costs, and weakened investor confidence.
The International Monetary Fund, in its April 2026 World Economic Outlook, revised global growth projections downward to 3.1 percent for 2026, from 3.3 percent projected in January. Inflationary pressures have intensified globally, driven by rising crude oil prices, higher food costs, and elevated transportation costs.
Headline inflation in Sierra Leone has continued its upward trajectory since the first quarter of 2026, increasing from 8.05 percent in February to 10.24 percent in March and 10.83 percent in April. The Committee attributed this to pass-through effects from higher global oil prices and tax measures introduced under the Finance Act 2026.
The MPC assessed that risks to the inflation outlook remain tilted to the upside, particularly amid persistent external cost pressures.
Domestic economic activity is expected to moderate, with real GDP growth projected at 4.0 percent in 2026, down from 5.0 percent in 2025. The moderation reflects the adverse impact of disruptions in global energy markets and their transmission to domestic production through higher input costs and supply constraints.
The Bank’s high-frequency Composite Index of Economic Activities indicated a decline in economic activity in the first quarter of 2026 relative to the previous quarter. However, a gradual recovery is expected, supported by the Feed Salone Programme and other pro-growth government initiatives.
External sector performance improved in the first quarter, with a reduction in the trade deficit driven by significantly lower import bills. Gross international reserves declined but remain adequate to cover approximately 2.1 months of imports of goods and services. The exchange rate remained broadly stable.
The overall fiscal deficit widened in the first quarter of 2026 compared to the same period in 2025, largely due to lower government revenue and a slight increase in expenditure. However, the primary balance recorded a surplus, supported by efforts to rationalise discretionary spending.
Both Reserve Money and Broad Money expanded in the first quarter relative to 2025, though the Reserve Money target under the IMF Extended Credit Facility programme was met. Credit to the private sector also expanded and remained within programme targets.
The banking sector remained stable, profitable, and sufficiently capitalised, with key financial indicators within regulatory limits. Non-performing loans remained below the prudential limit of 10 percent, though asset quality showed some deterioration.
The Committee expressed concern over the high concentration of commercial bank assets held in government securities, which may crowd out private sector lending. Additionally, the rapid expansion of Digital Financial Services and mobile money has exposed the sector to fraud and identity theft risks, underscoring the need for robust regulatory oversight.
The MPC concluded that the balance of risks has shifted markedly, with the outlook for price stability increasingly skewed to the upside. A moderate tightening of monetary policy was deemed necessary to contain second-round effects, reinforce policy credibility, and ensure inflation returns to a downward path over the medium term.
The Committee will continue to closely monitor the Middle East conflict and its spillover effects on energy markets, supply chains, financial conditions, and domestic price and output dynamics.
“The MPC stands ready to recommend timely policy action, as needed, to preserve macroeconomic stability,” the statement read.
The next MPC meeting is scheduled for 24 September 2026.
