Sierra Leone and Seven Other West African Countries in Malaysia to Unveil the Truth About QNET


QNET, a 26-year-old international direct selling company with operations in about 100 countries including Sierra Leone has invited journalists from seven West African countries to visit its Head Office in Malaysia and attend this year’s VCON, a global gathering of QNET’s independent distributors, marketing experts, entrepreneurs, and other stakeholders.

Among the journalists invited from QNET’s sub-Saharan Africa operations were senior reporters and editors from Ghana, Nigeria, Togo, Senegal, Guinea, Liberia, and Sierra Leone. The Editor of Sierraloaded represented Sierra Leone.

As part of a tradition it began in 2022, QNET annually invites journalists from various countries to its headquarters to witness first-hand its operations and attend the company’s flagship conference, VCON, in Malaysia. This is part of its continued efforts to counter misinformation and build transparency around its brand and products.

In recent years, QNET has faced widespread misconceptions, as scammers have falsely used the company’s name to defraud people. In response, QNET has increased public education through press statements, media engagement events, and partnerships with security and government agencies particularly in Sierra Leone. It has also launched a robust anti-fraud initiative called “QNET Against Scams,” aimed at offering clear, factual information about the company and its offerings.

As part of the media tour, West African journalists visited QNET’s 15-storey headquarters, the QI Tower a towering and modern facility that visibly reinforces the company’s legitimacy and global reach. They also toured the QNET product gallery, where they could see and experience the lifestyle and wellness products the company manufactures for customers in Sierra Leone, Africa, and beyond.

Journalists participated in presentations detailing QNET’s business structure, philosophy, model, and product lines. During these sessions, it was made evident that QNET is a long-established company with a genuine presence and commitment to African markets. The media team was also introduced to the RYTHM Foundation (Raise Yourself To Help Mankind), the company’s corporate social responsibility arm, which supports impactful humanitarian projects worldwide.

Day One of the tour emphasized QNET’s operations in Africa especially Sierra Leone where fraudulent individuals have used the company’s name to exploit innocent people. QNET made it clear that it has no association with such individuals and is actively working to combat scams and misinformation. Inviting journalists from several African countries is one way QNET aims to increase transparency and correct public misconceptions.

During the sessions, QNET repeatedly clarified the following:

It does not offer job opportunities abroad or require large payments in exchange for employment.

It does not offer scholarships or visa services.

QNET is not a Ponzi scheme or an investment platform.

Anyone spreading such false claims should be reported to security agencies or directly to QNET via its WhatsApp hotline: +233 256 630 005.

VCON 2025 officially opens on June 21, 2025, on the beautiful island of Penang, Malaysia, with over 8,000 participants expected from around the world.




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Bank of Sierra Leone Announces Reduction in Monetary Policy Rate to Boost Economic Growth


The Monetary Policy Committee (MPC) of the Bank of Sierra Leone (BSL) has reduced the Monetary Policy Rate (MPR) by 1 percentage point to 23.75%, effective June 24, 2025, in a move aimed at lowering borrowing costs and stimulating private sector investment.

The decision, approved by the BSL Board of Directors on June 23, follows a review of global and domestic economic conditions. Governor Dr. Ibrahim L. Stevens announced corresponding adjustments to the Standing Lending Facility Rate (SLFR) and Standing Deposit Facility Rate (SDFR), now set at 26.75% and 17.25%, respectively.

The MPC’s decision comes amid a cautiously optimistic outlook for Sierra Leone’s economy, underpinned by a significant decline in domestic inflation from 13.78% in December 2024 to 7.55% in May 2025. This drop, attributed to prudent monetary policies, fiscal discipline, stable fuel prices, and a relatively steady exchange rate, has created room for the BSL to ease monetary policy to support investment and growth.

Globally, the economic landscape remains challenging, with the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), and the World Bank revising down their 2025 global growth forecasts to 2.8%, 2.9%, and 2.3%, respectively. These downgrades reflect trade policy shifts and geopolitical tensions, which could disrupt supply chains and exert inflationary pressures on Sierra Leone’s economy. Despite these risks, the MPC noted that global inflation is expected to decline in 2025 and 2026 due to tighter monetary policies and falling commodity prices.

Domestically, Sierra Leone’s economy is projected to grow by 4.5% in 2025, up from 4.0% in 2024, driven by strong performances in mining, agriculture, and services. The MPC anticipates growth to rise further to 4.7% in 2026 and 2027, supported by government initiatives to enhance agricultural productivity. However, external risks such as global supply chain disruptions and trade tensions could pose challenges, prompting calls for policies to bolster economic resilience.

The MPC highlighted mixed developments in Sierra Leone’s external and fiscal sectors. The trade deficit widened in the first quarter of 2025 due to higher import costs and lower export earnings, while foreign exchange reserves fell to cover just 1.8 months of imports. On the fiscal front, the budget deficit grew in early 2025 due to lower domestic revenue and higher interest payments, though reduced spending on goods, services, and subsidies narrowed the primary deficit. A decline in the 364-day Treasury Bill rate has eased borrowing costs, providing fiscal space for the government.

Monetary developments showed a contraction in reserve money but moderate growth in broad money (M2) in the first quarter. While credit to the private sector increased, it remains insufficient to drive significant investment. The MPC stressed the need for a more inclusive credit environment to support private sector growth.

In its statement, the MPC emphasised that the rate cut aims to encourage private sector credit, reduce borrowing costs, and promote sustainable growth while maintaining vigilance over inflationary risks. The next MPC meeting is scheduled for 25 September 2025.




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Sierra Leone Commercial Bank Signs Strategic Partnership With Republic Bank Ghana


Sierra Leone Commercial Bank (SLCB) has taken a significant step toward regional integration and institutional strengthening by signing a technical cooperation agreement with Republic Bank Ghana.

This strategic partnership aims to enhance SLCB’s operational capacity and accelerate its transformation into a modern, innovation-led financial institution within West Africa.

More than just a ceremonial accord, the agreement signifies a commitment to deep technical collaboration, focusing on knowledge exchange, capacity building, and the enhancement of expertise. These elements are core to SLCB’s long-term vision of becoming a resilient bank that meets diverse financial needs across the region.

The official signing ceremony took place in Accra, Ghana, and featured key leadership figures from both banks. Republic Bank Ghana was represented by its Managing Director, Board Chairman, and other senior executives, while SLCB’s delegation included its Board Chairman, Managing Director, Director of Finance, and Head of the Company Secretariat, highlighting the strategic importance of the partnership.

Through this alliance, SLCB aims to leverage Republic Bank Ghana’s extensive experience and technical knowledge to drive excellence in service delivery, digital transformation, and sustainable banking practices. The collaboration is expected to lead to improved product offerings, more efficient systems, and greater customer satisfaction within Sierra Leone’s banking sector.

Both banks reaffirmed their shared vision of promoting higher standards in regional banking. The partnership is anticipated to yield mutual benefits, strengthening institutional performance and contributing to broader economic development in both Sierra Leone and Ghana.

This technical cooperation marks a pivotal moment in SLCB’s growth journey, signaling its readiness to embrace regional opportunities and deliver lasting value to customers, employees, shareholders, and the financial ecosystem at large.




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Air Sierra Leone Warns Travelers Against Unauthorized Winter Ticket Sales |


Air Sierra Leone has issued a formal advisory warning travelers and the general public to refrain from purchasing airline tickets for the upcoming November December period through unofficial channels.

The airline clarified that tickets for the winter season have not yet been released and any current offers circulating online particularly those on UK-based travel websites are unauthorized and invalid.

According to a public notice signed by Augustine Bona, the airline’s Head of Commercial, these fraudulent sales are being carried out by individuals and agencies falsely presenting themselves as legitimate agents of Air Sierra Leone. The airline emphasized that official tickets will only be available through its website and authorized Sales Representatives.

“We urge all passengers to verify sources and avoid falling victim to schemes that could result in loss of funds or denied boarding,” the notice stated.

Air Sierra Leone has vowed to take decisive legal action against perpetrators engaged in deceptive practices or misrepresentation of the company.

This warning comes amid increased demand for holiday travel, making unsuspecting travelers more vulnerable to ticketing fraud. The airline’s move is widely seen as a proactive effort to safeguard public trust and ensure the integrity of its booking system.

Travelers are advised to monitor the airline’s official channels for accurate updates and refrain from making purchases until a formal announcement is made.




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Africell Sierra Leone Launches Easy SIM Update with National Identification Number (NIN) |


Africell Sierra Leone is making it simpler than ever for customers to update their SIM cards with their National Identification Number (NIN).

With just a few quick steps, subscribers can now complete the process themselves from the comfort of their phones.

To update, customers simply need to dial *999# and follow the on screen instructions. After entering their NIN, they only need to provide their year of birth.

For those who prefer in person assistance, Africell’s POS shops across the country are ready to help customers update their SIMs hassle free.

Mr. Abdul Kamara, Africell’s Customer Experience Manager, stated, “We are committed to providing our customers with easy, secure, and convenient ways to stay connected while complying with national regulations. This SIM update process empowers our subscribers to take control and update their details at their convenience.”

Africell reminds those without a NIN to visit the National Civil Registration Authority (NCRA) office to obtain their National Identification Card.

A spokesperson from NCRA added, “Obtaining your National Identification Card is essential for accessing various services, including SIM registration. We encourage all Sierra Leoneans to register promptly.”

This initiative is part of Africell’s commitment to ensuring seamless connectivity and compliance with national regulations.




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Bank of Sierra Leone Cuts Monetary Policy Rate Amid Declining Inflation |


The Monetary Policy Committee (MPC) of the Bank of Sierra Leone (BSL), following its quarterly meeting on July 24, 2025, has announced a significant reduction in its key policy rates, effective July 29, 2025.

The move aims to sustain macroeconomic stability, address inflationary pressures, and stimulate private sector credit.

The Monetary Policy Rate (MPR) has been reduced by 2 percentage points to 21.75%. Concurrently, the Standing Lending Facility Rate (SLFR) has been lowered to 23.75%, and the Standing Deposit Facility Rate (SDFR) to 14.25%. These adjustments were approved by the BSL’s Board of Directors on July 28, 2025.

According to the MPC, the decision was premised on several positive developments:

  • Declining Inflation: Inflationary pressures have continued to ease, with headline inflation dropping to 7.10% in June 2025, down from 7.55% in May 2025. This follows a reported 13.8% in December 2024.
  • Falling Treasury Bill Rates: There has been a further reduction in the 364-day Treasury Bill rate, falling from 20.40% on June 12, 2025, to 15.77% on July 17, 2025, attributed to ongoing fiscal consolidation efforts by the government.
  • Improved Economic Activity: Real GDP growth is projected to increase to 5.5% in 2025, a rise from 4.4% in 2024. The BSL’s Composite Index of Economic Activity (CIEA) indicates a slight slowdown in economic activity in the second quarter of 2025.
  • Private Sector Credit Growth: A slight decrease in private sector credit growth was noted, from 3.72% of GDP in March 2025 to 3.69% of GDP in May 2025.
  • Stable Exchange Rate: The Leone/US Dollar exchange rate has remained relatively stable, supported by monetary and fiscal policy coordination, leading to improved market sentiment.

Despite these positive trends, the MPC acknowledged that global economic uncertainty remains a risk.

The MPC emphasized that the balance of risks to the inflation outlook has shifted downwards. Therefore, a more consistent monetary policy stance is being adopted to align with developments in the money market, stimulate private sector credit, and enhance price stability.

The committee reiterated its commitment to maintaining price stability and will continue to recommend adjustments to the monetary policy stance before the next MPC meeting, should market conditions warrant. The next MPC meeting is scheduled for September 25, 2025.

The statement was issued by Dr. Ibrahim L. Stevens, Governor of the Bank of Sierra Leone.




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Governments of Sierra Leone and Liberia to Eliminate Cross-Border Call Charges |


The governments of Sierra Leone and Liberia have taken a major step towards enhancing regional connectivity by signing a Memorandum of Understanding (MoU) to launch Free Roaming services. 

This initiative, supported by the Economic Community of West African States (ECOWAS), aims to eliminate cross-border call charges, facilitating smoother communication between the two countries.

The announcement was made during the “Connecting Nations, Empowering Citizens” conference held in Liberia, which gathered representatives from regulatory bodies, mobile network operators, development partners, and policymakers from across West Africa.

The delegation was led by Mr. Amara Brewah, Director General of the National Communications Authority (NatCA), who emphasized the commitment of both governments to advancing digital integration in the region.

The conference notably reflects two pivotal milestones: the introduction of seamless roaming services between Sierra Leone and Liberia, and the signing of an additional MoU to establish roaming agreements with Côte d’Ivoire.

Brewah stated that those developments are crucial for enhancing regional trade, improving mobility, and expanding digital connectivity. He noted that the Free Roaming service aligns with ECOWAS’ ongoing efforts to promote greater unity among member states.

The new Free Roaming service is expected to benefit both citizens and businesses by making communication more accessible and affordable, thereby fostering stronger ties between Sierra Leone and Liberia.




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Governments of Sierra Leone and Liberia to Eliminate Cross-Border Call Charges


The governments of Sierra Leone and Liberia have taken a major step towards enhancing regional connectivity by signing a Memorandum of Understanding (MoU) to launch Free Roaming services. 

This initiative, supported by the Economic Community of West African States (ECOWAS), aims to eliminate cross-border call charges, facilitating smoother communication between the two countries.

The announcement was made during the “Connecting Nations, Empowering Citizens” conference held in Liberia, which gathered representatives from regulatory bodies, mobile network operators, development partners, and policymakers from across West Africa.

The delegation was led by Mr. Amara Brewah, Director General of the National Communications Authority (NatCA), who emphasized the commitment of both governments to advancing digital integration in the region.

The conference notably reflects two pivotal milestones: the introduction of seamless roaming services between Sierra Leone and Liberia, and the signing of an additional MoU to establish roaming agreements with Côte d’Ivoire.

Brewah stated that those developments are crucial for enhancing regional trade, improving mobility, and expanding digital connectivity. He noted that the Free Roaming service aligns with ECOWAS’ ongoing efforts to promote greater unity among member states.

The new Free Roaming service is expected to benefit both citizens and businesses by making communication more accessible and affordable, thereby fostering stronger ties between Sierra Leone and Liberia.




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Bank of Sierra Leone Cuts Monetary Policy Rate Amid Declining Inflation


The Monetary Policy Committee (MPC) of the Bank of Sierra Leone (BSL), following its quarterly meeting on July 24, 2025, has announced a significant reduction in its key policy rates, effective July 29, 2025.

The move aims to sustain macroeconomic stability, address inflationary pressures, and stimulate private sector credit.

The Monetary Policy Rate (MPR) has been reduced by 2 percentage points to 21.75%. Concurrently, the Standing Lending Facility Rate (SLFR) has been lowered to 23.75%, and the Standing Deposit Facility Rate (SDFR) to 14.25%. These adjustments were approved by the BSL’s Board of Directors on July 28, 2025.

According to the MPC, the decision was premised on several positive developments:

  • Declining Inflation: Inflationary pressures have continued to ease, with headline inflation dropping to 7.10% in June 2025, down from 7.55% in May 2025. This follows a reported 13.8% in December 2024.
  • Falling Treasury Bill Rates: There has been a further reduction in the 364-day Treasury Bill rate, falling from 20.40% on June 12, 2025, to 15.77% on July 17, 2025, attributed to ongoing fiscal consolidation efforts by the government.
  • Improved Economic Activity: Real GDP growth is projected to increase to 5.5% in 2025, a rise from 4.4% in 2024. The BSL’s Composite Index of Economic Activity (CIEA) indicates a slight slowdown in economic activity in the second quarter of 2025.
  • Private Sector Credit Growth: A slight decrease in private sector credit growth was noted, from 3.72% of GDP in March 2025 to 3.69% of GDP in May 2025.
  • Stable Exchange Rate: The Leone/US Dollar exchange rate has remained relatively stable, supported by monetary and fiscal policy coordination, leading to improved market sentiment.

Despite these positive trends, the MPC acknowledged that global economic uncertainty remains a risk.

The MPC emphasized that the balance of risks to the inflation outlook has shifted downwards. Therefore, a more consistent monetary policy stance is being adopted to align with developments in the money market, stimulate private sector credit, and enhance price stability.

The committee reiterated its commitment to maintaining price stability and will continue to recommend adjustments to the monetary policy stance before the next MPC meeting, should market conditions warrant. The next MPC meeting is scheduled for September 25, 2025.

The statement was issued by Dr. Ibrahim L. Stevens, Governor of the Bank of Sierra Leone.




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Africell Sierra Leone Launches Easy SIM Update with National Identification Number (NIN)


Africell Sierra Leone is making it simpler than ever for customers to update their SIM cards with their National Identification Number (NIN).

With just a few quick steps, subscribers can now complete the process themselves from the comfort of their phones.

To update, customers simply need to dial *999# and follow the on screen instructions. After entering their NIN, they only need to provide their year of birth.

For those who prefer in person assistance, Africell’s POS shops across the country are ready to help customers update their SIMs hassle free.

Mr. Abdul Kamara, Africell’s Customer Experience Manager, stated, “We are committed to providing our customers with easy, secure, and convenient ways to stay connected while complying with national regulations. This SIM update process empowers our subscribers to take control and update their details at their convenience.”

Africell reminds those without a NIN to visit the National Civil Registration Authority (NCRA) office to obtain their National Identification Card.

A spokesperson from NCRA added, “Obtaining your National Identification Card is essential for accessing various services, including SIM registration. We encourage all Sierra Leoneans to register promptly.”

This initiative is part of Africell’s commitment to ensuring seamless connectivity and compliance with national regulations.




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