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British International Investment Boosts Private Sector Growth in Sierra Leone With Ecobank Partnership


The United Kingdom Government, through its development finance institution, British International Investment (BII) has announced a $25 million risk-sharing facility with Ecobank Sierra Leone to stimulate private sector growth in high-impact sectors of the economy.

The facility, which includes a comprehensive technical assistance program, will support Ecobank in increasing lending to ambitious businesses in this frontier market.

The private sector plays a crucial role in Sierra Leone’s economy, primarily through small and medium-sized enterprises (SMEs) that employ around 70% of the population. However, these businesses often struggle to access capital due to various factors, including limited financial products, high collateral requirements, and short-term loan tenors.



The new facility will support local currency lending, demonstrating BII’s ability to act as a first mover in frontier markets. By increasing credit limits and extending loan tenors, the investment will help Ecobank Sierra Leone grow its loan book and boost business growth, job creation, and private sector contribution to the economy.

This transaction marks a significant milestone as the first investment under the Africa Resilience Investment Accelerator (ARIA), a collaborative initiative launched by BII and FMO, the Dutch entrepreneurial development bank. ARIA aims to boost investment in frontier markets like Sierra Leone.

The Sierra Leone economy faces challenges including a depreciating currency, a large trade deficit, and insufficient infrastructure investment. BII’s investment targets critical sectors such as renewable energy, agriculture, agro-processing, infrastructure, and manufacturing to spur economic growth and development.

UK Minister for Development, Anneliese Dodds, expressed her delight at the partnership, stating that it will support local currency lending, bring much-needed capital into high-impact sectors, and contribute to job creation and economic growth.

Samir Abhyankar, MD and Head of Financial Services at BII, highlighted the facility’s potential to be a game-changer for Sierra Leone, providing much-needed capital for local businesses to accelerate their growth, spur job creation, and deepen impact.

Sebastian Ashong-Katai, Managing Director of Ecobank Sierra Leone, expressed his enthusiasm for the partnership, emphasizing its importance in boosting Ecobank’s lending capacity and supporting Sierra Leone businesses.

Alex Kucharski, BII’s Head of West Africa for ARIA, added that ARIA aims to unlock investment in Sierra Leone and that the investment in Ecobank Sierra Leone will bring much-needed growth capital to underserved businesses in the country.



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SABCO Sardines Boosts Sierra Leone Economy With 14,000 Units Produced


Chief Minister Dr. David Moinina Sengeh confirmed the positive impact of President Bio’s recent launch of SABCO Sardines. Just weeks after its introduction, the factory has produced around 14,000 units, signifying a promising start for this local venture.

Beyond introducing a new product, SABCO Sardines has significantly benefitted the local economy. The project has created 500 direct jobs, providing much-needed employment opportunities during challenging times. The initiative has also had a cascading effect on other local industries.

Sardine production has bolstered the pepper and oil industries, creating additional demand and ensuring their growth and sustainability. This interconnected development highlights the potential of supporting local industries and fostering a self-sufficient economy.



A key aspect of the SABCO Sardines initiative is its affordability and accessibility. Competitive pricing aims to make the product attainable for a broad segment of the population. Additionally, SABCO Sardines are now readily available in supermarkets nationwide, ensuring convenient access for customers.

The successful launch and rapid production of SABCO Sardines reflect the government’s commitment to promoting local industries and economic growth. Chief Minister Dr. David Moinina Sengeh expressed his enthusiasm about the project’s success and its potential to further contribute to the country’s economic development.

“We are thrilled to see the positive impact of the SABCO Sardines initiative on our local economy,” said Chief Minister Dr. David Moinina Sengeh. “It’s not just about sardines; it’s about creating jobs, supporting other industries, and building a resilient and self-sufficient economy. We are committed to continuing our support for initiatives like this that drive economic growth and benefit our people.”

The initial success of SABCO Sardines breeds optimism about its future growth and its potential to further stimulate the local economy. As the product gains popularity, it is expected to create even more employment opportunities and support for local industries.





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SABCO Sardines Boosts Sierra Leone Economy With 14,000 Units Produced


Chief Minister Dr. David Moinina Sengeh confirmed the positive impact of President Bio’s recent launch of SABCO Sardines. Just weeks after its introduction, the factory has produced around 14,000 units, signifying a promising start for this local venture.

Beyond introducing a new product, SABCO Sardines has significantly benefitted the local economy. The project has created 500 direct jobs, providing much-needed employment opportunities during challenging times. The initiative has also had a cascading effect on other local industries.

Sardine production has bolstered the pepper and oil industries, creating additional demand and ensuring their growth and sustainability. This interconnected development highlights the potential of supporting local industries and fostering a self-sufficient economy.



A key aspect of the SABCO Sardines initiative is its affordability and accessibility. Competitive pricing aims to make the product attainable for a broad segment of the population. Additionally, SABCO Sardines are now readily available in supermarkets nationwide, ensuring convenient access for customers.

The successful launch and rapid production of SABCO Sardines reflect the government’s commitment to promoting local industries and economic growth. Chief Minister Dr. David Moinina Sengeh expressed his enthusiasm about the project’s success and its potential to further contribute to the country’s economic development.

“We are thrilled to see the positive impact of the SABCO Sardines initiative on our local economy,” said Chief Minister Dr. David Moinina Sengeh. “It’s not just about sardines; it’s about creating jobs, supporting other industries, and building a resilient and self-sufficient economy. We are committed to continuing our support for initiatives like this that drive economic growth and benefit our people.”

The initial success of SABCO Sardines breeds optimism about its future growth and its potential to further stimulate the local economy. As the product gains popularity, it is expected to create even more employment opportunities and support for local industries.



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Elephant Bet Boosts Strand Base Organisation in Freetown


Elephant Bet, a respected betting company in Sierra Leone, has extended sponsorship to the Strand Base Organisation as part of their corporate social responsibility.

The sponsorship is for the upcoming carnival show on December 2nd at Big Waterloo Street in Freetown. The donations from the sponsorship include umbrellas, handbands, stickers, and t-shirts.

Prince Abdulai Kargbo, the chairman of the Strand Base Organisation, expressed gratitude for Elephant Bet’s support. He mentioned their previous attempts with other organizations that hadn’t yielded success. However, upon approaching Elephant Bet, they promptly answered their call and extended assistance. Kargbo pledged support to Elephant Bet and promised to utilize some items for advertising and promoting Elephant Bet.



In response, Vincent Moal, the Chief Commercial Officer of Elephant Bet, expressed their happiness in supporting community leaders and youth movements. Moal emphasized Elephant Bet’s commitment to the community and announced that this sponsorship is the first of many. He invited all their customers to support the Strand Base Organisation’s event.”



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