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Government of Sierra Leone Revokes Temporary Tax Incentives Granted to Sierra Rutile


The Sierra Leone government has revoked a generous tax break for mining company Sierra Rutile Limited (SRL), citing the company’s improved financial performance as a breach of good faith.

In a letter addressed to SRL and made available to Sierraloaded, Finance Minister Shęku A.F. Bangura announced the government’s decision to revert to the original 2001 agreement’s fiscal regime, effective July 1st, 2023. This move cancels the temporary tax base reset incentives granted in August 2021 to help SRL recover from financial difficulties.

The minister justified the action by highlighting SRL’s “increasingly growing reported revenues and Net Profit After Tax of over $75 million in each of the last two years.” He argued that this success, driven by increased production and rutile prices, contradicted the justification for the tax break and deprived the government of much-needed tax revenue.



Bangura emphasized that the initial tax incentives were offered “in good faith” to ensure SRL’s survival after it threatened to suspend operations in 2021. However, he expressed disappointment that SRL failed to inform the government about its improved financial situation.

“This is completely unfair to the Government and people of Sierra Leone,” Bangura stated, pointing out the missed opportunity to use the withheld tax revenue for development programs.

The letter instructs the National Revenue Authority to collaborate with SRL to determine the revised tax obligations under the original agreement. It concludes by urging SRL to “show responsible business practice” and accept the decision.



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The Fresh Produce Shop Nurturing Women in Agriculture Across Sierra Leone


Nyanda Local Market, a bustling enterprise in the heart of Freetown, is more than just a place to buy fresh produce. It’s a testament to the power of women’s empowerment and agricultural innovation, driven by the vision of Madam Bintu Gbaio and her organization, Women in Agriculture and Development Sierra Leone (WIAD-SL).

Born from the desire to provide an outlet for WIAD-SL’s agricultural products and support other outgrowers, Nyanda has become a beacon of success.

Since its inception in 2018, Madam Bintu has partnered with women in Kailahun district, providing them with seeds, technical assistance, and tools, fostering a collaborative share-harvesting model.



Their efforts have yielded impressive results. WIAD-SL boasts a thriving seed bank and has produced over 1,000 50kg bags of rice, with ambitious plans for further growth. Beyond rice, they cultivate vast cassava plantations, processing the harvest into diverse products like Garri, fufu, and cassava flour, all available at Nyanda Local Market.

The impact extends far beyond economic empowerment. Recognizing the importance of education, WIAD-SL implemented adult literacy programs and even sponsored members to pursue primary and secondary education. One member is even preparing for the West African Senior School Certificate Examination, a remarkable achievement.

Nyanda Local Market serves as a sustainable platform for the women’s produce, ensuring fair compensation and inclusivity. It also caters to older women who may not be actively involved in farm work, offering opportunities for all age groups.

A beneficiary expressed gratitude for the initiative, highlighting the acquisition of valuable skills in crop cultivation, especially in growing vegetables that generate income.

Madam Bintu Gabio emphasized that Nyanda Local Market’s registration as an affiliate of WIAD-SL ensures sustainability. The market sells various products produced by the women, supporting those who may no longer engage actively in farm work due to age.

Madam Gabio appealed to the government and other organizations for support, acknowledging the contribution of a few agricultural processing machines provided by the World Bank and SCARDEP. She expressed a commitment to feeding Sierra Leone through their initiative if given the necessary support from the government.

The success of Nyanda Local Market serves as a testament to the transformative impact of empowering women in agriculture, not just economically but also through education and skill development.



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Orange Sierra Leone Becomes First Telecom Company to Acquire ISO 9001:2015 Certification


Orange Sierra Leone has achieved a significant milestone, becoming the first telecommunications company in the country to be certified with the international standard ISO 9001:2015 for quality management systems.

This prestigious recognition signifies Orange’s commitment to delivering exceptional service and continuous improvement, solidifying their position as a leader in the Sierra Leonean telecom industry.

The ISO 9001 standard sets a globally recognized benchmark for quality management systems, empowering organizations to enhance performance, meet stakeholder needs, and demonstrate unwavering dedication to quality. By adhering to its stringent requirements, Orange Sierra Leone has established and implemented robust processes for continual improvement across all aspects of their operations.



“Obtaining this certification from an accredited body instills even greater confidence and trust in our commitment to improving the lives of Sierra Leoneans,” said Sekou Amadou Bah, CEO of Orange Sierra Leone. “We strive to provide exceptional and responsible digital solutions aligned with international standards, and this certification underscores our dedication to constantly refining our performance and stakeholder satisfaction, particularly our valued customers.”

Rufina Adjivon Tucker, Project Lead and Program Director at Orange Sierra Leone, echoed this sentiment. “This certification serves as a powerful testament to our unwavering commitment to quality standards and our relentless pursuit of excellence,” she remarked.

Cheikh Diongue Mbaye, Chief Compliance Officer of Orange Sierra Leone, further emphasized the significance of this achievement. “This isn’t merely a test of our integrity; it’s an opportunity to showcase our dedication to upholding the highest standards through compliance with established international norms,” he stated.

By achieving ISO 9001:2015 certification, Orange Sierra Leone has demonstrably committed to exceeding stakeholder expectations, particularly their customers. This certification signifies their dedication to fostering a culture of continuous improvement, ensuring sound quality control processes, and ultimately building trust and satisfaction.

Orange Sierra Leone is a leading telecommunications operator in Sierra Leone, providing mobile and internet services to millions of customers. The company is committed to delivering innovative and reliable solutions that connect people and empower communities. Orange Sierra Leone is part of the Orange Group, a leading global telecommunications operator present in 25 countries across Africa and the Middle East.



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Bank of Sierra Leone Approves Mohamed Alhajie Samoura as Managing Director/CEO of UBA Sierra Leone


United Bank for Africa (UBA) Sierra Leone Limited is pleased to announce the approval of Mohamed Alhajie Samoura by the Central Bank of Sierra Leone as the substantive Managing Director/ Chief Executive Officer of UBA Sierra Leone.

The “No Objection” approval was received from the Bank of Sierra Leone on 30th January 2024 following the approval of his nomination by UBA Group Office and the UBA Sierra Leone Board of Directors in December 2023. Having served as the Acting MD/CEO since February last year, Mohamed is the first Sierra Leonean to attain such position in the bank since the bank started it operations in Sierra Leone in 2008.

Mr. Samoura is the 6th MD/CEO of UBA Sierra Leone after his predecessor, Usman Isiaka who is now serving the bank as Deputy MD/CEO of UBA New York.



Since he assumed the seat, Mr Samoura has continued to build on the legacies of his predecessors, he continues to double the figures in revenue, profitability, deposits, account opening and risk assets. He is very passionate about the UBA Brand and has been an exceptional promoter of Sierra Leonean businesses.

Until his appointment as the substantive Managing Director /Chief Executive Officer of UBA Sierra Leone, he was the Executive Director, Business Development in the bank, and Acting MD/CEO UBA Sierra Leone. Mohamed is a seasoned banker with close to two decades of working experience in Sierra Leone banking industry.

Mohamed has several accolades and most recently was named amongst the 100 Most Outstanding Executives in Sierra Leone by the Sierra Ovation Awards. During this short period and under his leadership, UBA Sierra Leone team won the 2023 prestigious Bank of the Year awards from the Banker’s Financial Times UK. Africa Branding Agency celebrating Banking Excellence in Sierra Leone/recognition of UBA Sierra Leone as Top 10 Financial Institutions & Mr. Samoura Top 5 Financial Leaders in Sierra Leone. African Ovation Awards for recognition of outstanding customer service, contribution, and commitment to social and economic development of Sierra Leone. A total of 10 Executive Management staff were awarded 2023 Sierra Leone Leadership Award honouring the Top 100 Emerging Leaders in Sierra Leone 2023. The Salone Times Newspaper one of the leading news agencies in Sierra Leone named him amongst the 10 Most Influential Sierra Leoneans in 2023. The bank also won Climate Positive Bank of the Year awards at the 7thEnvironmental Care Awards organised by Shout Climate Change Africa partnering with Sierra Leone Meteorological Agency and Freetown City Council and many more accolades on records.

He holds a Bachelor of Arts Degree in History and Political Science and a master’s degree in business administration and marketing.

Mr Samoura has a wealth of experience and understanding of the country’s corporate and institutional banking landscape.

The appointment of Mr. Samoura as Managing Director is in line with the UBA Group’s strategic focus on domesticating the bank’s governance, products and services to meet the local requirements of the host economy in all its 20 presence countries in Africa and further supporting human capital development across the continent as we expose the local staff to international standards and global best practices.

Operating in twenty African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, United Bank for Africa provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with over 30,000 employees group wide and serving over 37 million customers globally. UBA Sierra Leone currently has over 400,000 customers with the strong vision to be the undisputed leading and dominant financial services institution in the banking sector in Sierra Leone.



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Notification for Public Disclosure on the Environmental Social Health Impact Assessment Report for Long Lush (SL) Ltd in Bambatok and Senehum Villages Upper Banta and Bagruwa Chiefdoms Respectively, Moyamba district, Southern Sierra Leone.


This advert serves to notify interested and/or affected persons/parties of the Environmental Social Health Impact Assessment was conducted for the Long Lush (SL) LTD, Freetown Sierra Leone.

In conformity with the Sierra Leone Environmental Protection Agency Act 2008, the LONG LUSH (SL) LTD Project needs to be planned and designed in a manner that minimizes potential negative social and environmental impacts.

This is expected to be achieved through the ESHIA Process that was undertaken by Geomining Consultancy (SL) Ltd.



The Environmental Social Health Impact Assessment (ESHIA) report has been presented to the Environmental Protection Agency (EPA-SL) to be presented to the affected and interested stakeholders during the public disclosure processes for discussion.

Geomining Consultancy, EPA – SL and Long Lush Group (SL) Ltd, propose to conduct stakeholder engagement process at the following locations and dates:
Babatok Village, Upper Banta Chiefdom, Moyamba District on 12th January 2024

Senuhun Village, Bagruwa Chiefdom, Moyamba District on 13th January 2024

The report is now available for reference purposes at any time at the following locations:

The Environmental Protection Agency Sierra Leone (EPA-SL) office, 92 Dundas street, Brookfield, Freetown;

Long Lush (SL) Ltd, 65 Siaka Steven Street Freetown

Geomining Consultancy at 33 Victoria Street Freetown.

Stakeholders and/or interested person/parties are invited to participate in the consultation process for the Public Disclosure processes at the above-mentioned locations.

Your input and any issues or insights that you may have regarding the projects will be valuable.

Comments can be submitted verbally at the Stakeholder’s workshop or written format. Written comments must be sent to the following contacts below.

We look forward to your participation in the consultation and disclosure process.



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Bank of Sierra Leone Warns of Illegal Super Advertis Investment Scheme


The Bank of Sierra Leone (BSL) issued a strong warning today against an online entity called “SUPER ADVERTIS” that is illegally soliciting investments through mobile money platforms.

The BSL emphasized that it has not licensed SUPER ADVERTIS for any financial activity, and engaging with them for investments poses a real risk to the public’s finances.

According to the BSL’s public notice, SUPER ADVERTIS appears to be enticing individuals to invest in a secretive financial scheme using mobile money platforms, which involves accepting deposits from the public. However, the BSL clarifies that “SUPER ADVERTIS” operates without the necessary license, making their operations illegal and potentially fraudulent.



The BSL urged the public to exercise extreme caution and refrain from any financial transactions with SUPER ADVERTIS. To ensure their safety, the BSL advised everyone to verify the presence of a valid BSL-issued license displayed in the premises of any financial institution before engaging in any transaction.

The BSL’s warning extends to all similar unlicensed businesses operating in Sierra Leone. The notice stresses that such illegal schemes pose a significant threat to the stability and safety of the nation’s financial system.

This timely intervention by the BSL highlights the growing concern over unregulated financial activities, particularly those targeting mobile money users. As mobile money transactions become increasingly popular, ensuring user protection and preventing fraudulent schemes remains a crucial challenge for financial authorities across Africa.

The BSL’s public notice serves as a wake-up call for Sierra Leoneans, urging them to prioritize caution and due diligence when considering any investment opportunity, especially if it involves mobile money or operates outside the official financial system.



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Orange Sierra Leone Exposes Scam Involving Super Advertis


Orange Sierra Leone, a leading mobile company in Sierra Leone has continued to disassociate itself from the fraudulent activities of Super Advertis, an online business platform reported to have defrauded Sierra Leoneans of a staggering 9 billion Leones.

In a statement made available to Sierraloaded, Orange revealed the deceptive tactics employed by Super Advertis scammers. The company clarified that unauthorized agents were illicitly collecting funds on behalf of the fraudulent platform. Immediate action was taken upon discovering these deceitful transactions, with Orange Sierra Leone promptly blocking the accounts of these unauthorized agents.

The mobile company emphasized that these agents lacked the authorization to engage in such financial transactions, and their accounts were suspended to prevent further fraudulent activities.



“They were using our agents to collect funds on their behalf. These agents are not authorised to perform these type of transactions. When we got alert of these fraudulent transactions we immediately blocked the accounts of these agents.” the mobile network company said.

Orange Sierra Leone has taken a proactive approach by reporting the issue to the Bank of Sierra Leone (BSL) and is now awaiting the next steps in the investigation.

According to Orange Sierra Leone, the blocked accounts do not show any clear indication that the embezzled funds are directly related to Super Advertis transactions. The company clarified that the primary reason for blocking the accounts was to curtail the involvement of the suspended agents. Interestingly, all attempts to reach these agents have been unsuccessful, adding another layer of mystery to the unfolding situation.

The company’s message serves as a cautionary note to its partners and the general public, urging them to remain vigilant and exercise caution when dealing with financial transactions related to Super Advertis.

Orange Sierra Leone’s commitment to transparency and swift action in response to the fraudulent activities demonstrates its dedication to protecting its partners and customers from potential scams.

As the investigation unfolds, Sierra Leoneans are anxiously awaiting updates from both Orange Sierra Leone and the Bank of Sierra Leone, hoping for justice to be served against those responsible for this significant financial fraud.



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New Online Business Company, Super Advertis Shuts Down in Sierra Leone


Newly introduced online business Company, Super Advertis has announced to customers that it will shut down in 2 – 3 days from today Tuesday 2nd January 2024.

This announcement was made on its website early today. According to the announcement, all funds of the company have been frozen by Orange, hence the reason for its shutdown.

The Company has directed its users and partners to go to Rakuten, which it stated is its other branch, to retrieve all their money.



It further directed that they contact the manager of Rakuten and send their account ID as well as their balance screenshots, to handle fund withdrawals.

The development comes a few days after mobile money giant, Orange disassociated itself of any partnership with Super Advertis saying it does not have any contractual dealings or in any way associated with the business/company.

Super Advertis company was introduced in Sierra Leone in 2023. The platform recruited online workers who were asked to complete daily tasks, with a daily income of 50-500 NLE. It also promised corresponding commissions by completing the increase in praise of the products on the platform.



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Bank of Sierra Leone Foreign Currency Exchange Rate For December 15, 2023


The Bank of Sierra Leone has on the 15th of December 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



Pounds Sterling: Buy at Le 28.718-0.35, Sell at Le 29.01588-0.35

• U.S. Dollars: Buy at Le 22.531-0.06, Sell at Le 22.7575

• Euro: Buy at Le 24.4891-0.15, Sell at Le 24.7302-0.15

Note: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.



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Rokel Commercial Bank’s MD Dr. Walton Gilpin to Represent Sierra Leone, Speak at Global Reputation Forum & Fintech Awards


Dr. Gilpin, the astute Managing Director & CEO of Rokel Commercial Bank, has been nominated as one of the Top five (5) Financial Leaders in Sierra Leone. He is set to represent the country at the prestigious Global Reputational Forum & Reputation Fintech Awards hosted by Reputation Poll International on December 8th & 9th, 2023, at the Marriott County Hall in London. Additionally, he’ll serve as a speaker at this esteemed event.

Reputation Poll International Limited, renowned for listing the world’s 100 most reputable individuals and bank CEOs, is organizing this event in collaboration with WINTRADE and Go Global Trade, chaired by Lord J.D Waverley. The 2023 Global Reputation Forum aims to recognize the remarkable growth, integration, and reforms within Africa’s banking and financial sector.

The event is designed to acknowledge rapid expansion, integration, accelerated growth, and reforms of Africa’s banking and financial sector. The event will honor and celebrate outstanding Banks and Fintech Institutions that are moving Africa’s rapidly transforming finance sector. Expectations: 1. The forum is expected to bring together Executives from leading banks (Bank of England, HSVC, Europe Exim Bank ect) investors, Chairs, Technology and Innovation Top Executives. 2. Exclusive meeting with The Parliamentary Co-Chair of the U.K Trade and Investment including other Executive VIP Delegates.



The 2023 Global Reputation Summit will also feature a broad range of discussions and debates by top facilitators from Africa and Europe bringing theoretical & practical experiences to guide on how various sectors can work together to build credible reputation, branding strategies for accelerated growth; providing Banks, Fintechs, Global brands, individuals and organizations with the awesome opportunity to learn winning branding strategies that will help to build their reputation and maintain dominance in their markets.

These accolades reflect Rokel Commercial Bank’s commitment to leveraging cutting-edge strategies in technology and innovation, positioning itself as a key player in Africa’s innovative landscape.

RCB – The Bank of Choice!!!



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