In recent times, the Public Account Committee has raised concerns regarding the Sierra Leone Commercial Bank lack of specific loan policy for Political Exposed Persons.
The concerns came following an Audit revealing that by December 31 2022, the SLCB had issued loans reportedly totaling SLE 41,448,000 to Politically exposed People without clearer policies or Procedures.
However, The Director of Corporate Affairs of the Sierra Leone Commercial Bank (SLCB), Victor Thomas Biandoma, Esq., addressed concerns over unjustified loan issuance.
The Director clarified that the loans in question raised in the Auditor General’s Report underwent a thorough vetting process in line with the bank’s stringent credit policies.
Emphasizing the institution’s commitment to transparency and due diligence, the Victor detailed the criteria met by the borrower, which included a strong credit history, a viable business plan, and other supporting documents.
He further assured customers and stakeholders that loans’ approval was based on sound financial judgement and aimed at fostering economic growth.
“The SLCB, recognised for its robust governance framework, remains dedicated to maintaining its reputation for financial integrity,” he averred.
The Director also mentioned that any allegations of impropriety are being taken seriously and investigated to uphold the bank’s standards and customer trust.
QNET, a global lifestyle and wellness company that uses a direct-selling business model to promote unique products that enable people to take charge of their health, well-being, and lifestyle, has marked this year’s Father’s Day celebration by empowering dads around the world with business opportunities and wellness solutions.
Recognizing and celebrating the exceptional impact fathers have on shaping families, communities and the future, QNET is providing them with the chance to excel effortlessly in their roles through its direct selling business opportunity, along with products that enhance their wellness and lifestyle.
A report by daduniversity.com reveals that, “there is an intense pressure on fathers to provide financially for their families as raising a child comes with expenses. Although families come in various financial structures, the responsibility to contribute can weigh heavily.” QNET is dedicated to empowering aspiring entrepreneurs, particularly fathers, by providing them with the tools and support they need to succeed.
For fathers who aim to build a better future for their families, the company offers a platform that not only helps kick-start their businesses but also nurtures their growth. Through QNET’s business platform, fathers gain access to comprehensive product and business training and customer support, ensuring that they have the knowledge and skills necessary to thrive and feel empowered in their entrepreneurial journey.
“We believe that every father deserves the chance to succeed both professionally and personally,” said Biram Fall, Regional General Manager, QNET Sub-Saharan Africa. “Our mission is to provide fathers with the opportunities and resources they need to achieve their goals and support their families. Through our business opportunities and health-promoting products, we are dedicated to empowering fathers to build better lives for themselves and their loved ones.”
In addition to business opportunities, QNET offers a variety of products designed to help men lead healthier and more fulfilling lives. This Father’s Day, QNET is highlighting two exceptional products that exemplify this commitment: QAlive and the Bernhard H. Mayer 150th Anniversary timepiece. QAlive is a plant-based supplement that naturally increases testosterone levels for men’s complete health and performance.
Packed with essential nutrients and antioxidants, QAlive supports immune function, boosts energy levels, and helps fathers stay healthy and active. The Bernhard H. Mayer 150th Anniversary watch is more than just a timepiece; it symbolizes sophistication and success. Designed with precision and style, it is perfect for the modern father who values both functionality and elegance. With its advanced features and sleek design, the Bernhard H. Mayer wristwatch is a testament to QNET’s dedication to quality and innovation.
This and every Father’s Day, QNET encourages everyone to celebrate fathers who work tirelessly to provide for their families and communities. By offering unparalleled business opportunities and top-tier health products available via www.qnet.net, QNET continues to support and empower fathers to reach their full potential.
About QNET
QNET, a global lifestyle and wellness company, uses a direct-selling business model to promote unique products that enable people to take charge of their health, well-being, and lifestyle.
Since 1998, QNET’s innovative products and e-commerce-driven business model have helped build a global community of satisfied customers and microentrepreneurs, who are driven by the mission of RYTHM – Raise Yourself To Help Mankind. Popular product brands offered by QNET include the Bernhard H. Mayer range of luxury watches and jewelry, HomePure range of home care products, the Amezcua wellness range, Physio Radiance personal care range, and QVI branded holiday packages.
QNET proudly exemplifies high industry standards and is a member of numerous Direct Selling Associations worldwide. Its active engagement in several global sports sponsorships including in its role as the official direct selling partner of the Manchester City Football Club (MCFC) and the Confederation of African Football (CAF), highlights the company’s commitment to excellence.
Discover a world of new possibilities with QNET by visiting www.qnet.net
The Central Bank of Sierra Leone has announced a significant treasury bills auction scheduled for Wednesday, June 19, 2024. The auction will offer a total of NLe333.07 million, spanning a variety of government securities including short-term treasury bills and longer-term treasury bonds.
This auction presents a mix of 91-day, 182-day, and 364-day treasury bills, alongside 2-year and 3-year treasury bonds, providing a range of investment opportunities for financial institutions and individual investors alike. The move underscores the Central Bank’s ongoing strategy to manage national debt and stimulate investment in government securities.
A detailed breakdown of the offerings reveals that NLe1,568,750.00 has been allocated for the 91-day bills, NLe3,137,500.00 for the 182-day bills, and a substantial NLe284,290,600.00 for the 364-day bills. In addition, NLe16,255,600.00 will be available for the 2-year bonds and NLe27,734,000.00 for the 3-year bonds.
This week’s offer marks a notable 28.9 percent increase from the previous auction on June 6, 2024, which saw a total of NLe63,654.60 million offered across similar instruments. The increase in allocation reflects the Central Bank’s effort to attract more investment into government securities, ensuring liquidity and a stable debt management process
The Managing Director of Rokel Commercial Bank, Dr. Ekundayo Walton Gilpin (COOR), has on June 7th 2024 been bestowed with a prestigious award for his exceptional leadership and dedicated service to humanity at the 9th Sierra Leone Association of Artists and Musicians (SLAAM) Awards held in the United States on June 7th, 2024. The accolade was presented by Min. Amb. Gilleh Kebbie Scholz, President of SLAAM AWARDS.
The president of SLAAM AWARDS, also the CEO of Giileh Global Productions (GGP), a media production, talent branding, and marketing company, has demonstrated years of expertise in bringing out the best in individuals and their endeavors.
The SLAAM Awards annually convenes a diverse and talented group of individuals from around the world to showcase their dreams and aspirations. This year marks the ninth edition of the event, which has been honoring legends in various artistic categories for their lifelong contributions to their respective fields.
The nomination and voting process, overseen by the SLAAM Planning Team, ensures that only the best candidates are considered for the awards. Over the past eight years, the event has seen significant participation, with 300k votes cast in six days on the event website in 2023.
The 2024 SLAAM Lifetime Achievement Awards featured eminent personalities such as Yvonne E. Clarke (Humanitarian), Bosca Banks (Music), Felix Sandy (Sports), Vicky Fornah Hassan (Gospel), Alimatu Bateh Sangarie-Sammarie (Humanitarian), Pastor Bai Sesay (Leadership), Joseph Okito Nelson-Edwin (Comedy), Joseph Musa (Excellence), and Mohamed Mansaray (Theatre).
Dr. Gilpin graciously accepted the award and dedicated it to his family, the Board, Management & staff of RCBank, and particularly to the leadership and people of Sierra Leone. This recognition stands as a testament to Dr. Gilpin’s unwavering commitment to excellence and his significant contributions to humanity and the financial sector.
On Thursday, June 6th, 2024, RCBank celebrated the 5th anniversary of its Tree Planting Project at Petifu Kangalop, Masiaka, reinforcing its commitment to environmental sustainability.
The event, which drew hundreds of guests and community residents, was themed: “Plant More Trees, So That the Next Generation Can Get Air for Free.”
RCBank Limited has continually demonstrated its dedication to protecting and preserving the environment. The Deputy Managing Director, Mr. Emmanuel E. Borbor, highlighted the bank’s responsibility to integrate with and support the communities in which it operates. “Planting trees improves the air quality for humans to breathe and prevents heavy winds from causing destruction,” Borbor stated. “Tree planting is universal and the cleanest form of agriculture. Anyone can start tree planting as it requires minimal capital.” He encouraged the community to join the initiative, emphasizing the myriad benefits of tree planting. Borbor also appealed for additional land to expand the project further.
Neneh Tunis, CEO of Keeping Hope Alive, underscored the dual importance of planting and maintaining trees. “It is one thing to plant trees, but challenging to maintain them,” she remarked. “Tree planting also provides job creation for locals and mitigates the effects of climate change. We must all work together to create a sustainable and resilient environment.”
Paramount Chief of Petifu Kangalop, Masiaka, PC Bai Kompra Bomboli III, spoke about the origins of the project, initiated by his father in collaboration with RCBank. “We will never stop planting trees,” he affirmed. He addressed the challenges faced by local communities, including the demand for charcoal. “The demand for charcoal in the capital, Freetown, drives local deforestation. I urge the government to provide alternative fuel sources, like gas, to reduce reliance on charcoal.” He pledged continued collaboration with RCBank and vowed to educate the populace on climate change. He commended RCBank’s dedication and promised to allocate more land for the initiative.
Ambrose Bindi, head of Tree Crop at the Ministry of Agriculture, delivered the keynote address. Bindi commended RCBank for its contribution to environmental conservation. He underscored the importance of tree planting in supporting food security initiatives, urging widespread participation in the Feed Salone project. “The stomach does not belong to a party of color, so it is important that everyone supports the Feed Salone project,” he said. He praised RCBank and Neneh Tunis for their contributions to tree planting, a crucial element in combating climate change. Bindi highlighted that the initiative by RCBank is part of a global effort and stated, “It’s commendable for a bank to engage in such an important venture.”
Madam Shola Taylor Pearce, Executive Secretary of the Sierra Leone Association of Commercial Banks, congratulated RCBank on behalf of all 13 managing directors. “Five years ago, I planted a tree here, and today it is taller than me. This symbolizes the power of a seed and the importance of roots, much like RCBank’s roots in this initiative,” she stated. “Together everyone achieves more, and that is what our association stands for.”
The celebration was climaxed by the planting of 30 trees by dignitaries and both senior and junior staff of RCBank, symbolizing their continued commitment to environmental stewardship and community engagement.
The vote of thanks was given by Mrs. Mariama Jajua, Head of Marketing, Business Development, and Corporate Affairs, who acknowledged and appreciated all guests, community members, and staff of RCBank for supporting this wonderful initiative.
As part of efforts to raise awareness about the importance and benefits of milk consumption in the country, Premium Divine Trading Company Ltd, a food distribution company that operates as an agent for Promasidor, a leading supplier of quality food products to more than 30 African countries, including Sierra Leone, joined the world on Friday, May 31, and Saturday, June 1, 2024, to commemorate World Milk Day.
This international day, established by the Food and Agriculture Organization (FAO) of the United Nations, recognizes the importance of milk as a global food and has been observed on June 1 every year since 2001.
During this year’s commemoration, the company embarked on a massive milk education campaign. A motorcade float parade commenced on May 31, 2024, from Cline Town to Jui for the East End of Freetown, and continued on June 1, 2024, from Cline Town to Funkia Market for the Western Area Urban.
Additionally, the company sampled Cowbell products, giving actual and potential consumers the opportunity to enjoy good nutrition through Cowbell milk at key points during the motorcade float parade. This was executed by offering dry samples of Cowbell powdered milk to commuters.
In addition to the educational campaign, the company donated 50 cartons of Cowbell Milk to the Aberdeen Women’s Centre in Aberdeen to support malnutrition efforts in Sierra Leone.
Presenting the donation to the Aberdeen Women’s Centre, the Country Manager of Premium Divine Trading Ltd, Kenneth Konuah, highlighted that his company has been supporting the work of the Aberdeen Women’s Centre for some time now, adding that in celebration of this year’s World Milk Day, observed annually on June 1st to recognize the importance of milk as a global, affordable and nutritious food, Premium Divine Trading Ltd aimed to increase awareness about the benefits of milk consumption for all.
As part of their massive milk education campaign, he disclosed that the company deemed it fit to donate 50 cartons of Cowbell milk to the facility to support pregnant women, lactating mothers and children.
Kenneth Konuah expressed appreciation for the tremendous work being done by the Management and Staff of the Aberdeen Women’s Centre and promised continuous support for the facility.
He also noted that Premium Divine Trading Ltd, as a responsible company, undertook the exercise to commemorate World Milk Day by raising awareness of the importance and benefits of milk within the Freetown Municipality.
During this process, they educated thousands of commuters about the significance of consuming Cowbell milk, which is a rich source of protein, calcium, and vitamins A, B, C, D, E and K, collectively known as Vitarich.
Receiving the donation, the Country Director, Aberdeen Women’s Centre Ruth Milliken expressed gratitude to Premium Divine Trading Ltd for the generous contribution, which she described as crucial for the facility.
She mentioned that the donated cartons of milk will be immensely beneficial, particularly for their busy maternity ward, and will greatly support pregnant women, lactating mothers and children. The Country Director assured that the donation will be used for its intended purpose, benefiting those whom it is meant to support.
On his part, Head of Sales of Premium Divine Trading Limited, Kwaku Ampadu Afoani, highlighted that the massive milk campaign is part of their efforts to promote the consumption of quality food products in the country. He explained that Cowbell products come in various sizes, including 14g sachets, 20g sachets, 360g sachets and 400g tins for milk. Additionally, Cowbell food drink packages, such as Coffee, Strawberry, Coconut, Choco-Malt and Cowbell Mocha, are available in 40g sizes. These products are produced in Ghana by Promasidor Ghana Limited and exported to several West African countries, including Sierra Leone, where Premium Divine Trading Company Ltd serves as the sole distributor.
Kwaku Ampadu Afoani added that Premium Divine Trading Company Ltd also distributes and markets Onga, Miksi Chocolate and coffee drinks, Kremela, and Yumvita the latter being an infant cereal with milk containing wheat, rice and maize.
He emphasized that the company guarantees the availability of quality milk for everyone, aiming to discourage the use of unsafe milk products on the market.
He concluded by encouraging everyone to choose the company’s products, especially Cowbell Milk, which he assured, is of high quality and provides essential nutrients for the body.
One of the beneficiaries, Ibrahim Sesay, a driver who benefited from the milk education and sampling, commended Premium Divine Trading Company Ltd for their commendable effort in reaching out to communities with the milk education. He described the initiative as vital for the development and growth of all.
Ibrahim Sesay praised Cowbell Coffee and Milk for their rich nutrient content, essential for proper growth.
He also encouraged everyone to purchase products from Premium Divine Trading Company Ltd, assuring that they would not regret their choice, given the high quality and nutritional value of their products.
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Akeem Lawal, the Managing Director of Interswitch, the Payment Processing and Switching (Pure pay) business division, along with the team from Nigeria, paid a courtesy visit to RCBank Management.
Interswitch is a leading technology-driven digital payments company, is actively shaping the payment landscape in the growing e-commerce sector in Africa.
The meeting focused on crucial topics such as the POS acquiring project, transaction processing engagement, Verve Card engagement, and strategic plans for business expansion in the Sierra Leone market.
Interswitch’s broad network and robust payments platform have been instrumental to the development of the Nigerian payments ecosystem and provide Interswitch with credibility to expand across Africa.
Today, Interswitch is a leading player with critical mass in Africa’s rapidly developing financial ecosystem and is active across the payments value chain, providing a full suite of omni-channel payment solutions.
In a significant move to address the ongoing fuel crisis in Pujehun district, NP (SL) Limited has opened a new state-of-the-art fuel station in Pujehun Town, Southern Sierra Leone, offering convenience and easy access to fuel to provide for the community’s diverse energy needs on Monday 27th May 2024.
Ambassador Kobi Walker, Chief Executive Officer of NP SL Limited officially inaugurated the Nyakel Amadu NP filling station in Pujehun town.
Ambassador Walker conveyed his gratitude to Honorable Dixon Momoh Rogers and the people of Pujehun. He emphasized the high quality and standards of the newly established facility, assuring that it is built to endure and serve the community for a long time.
Reflecting on his connection to Pujehun District, CEO Walker recalled his earlier positive contribution in the district during his tenure at Union Trust Bank and Sierra Leone Brewery Limited. He highlighted the company’s past support for individuals establishing Fuel Stations in Pujehun District and assured that this support would continue.
Amb. Walker encouraged the public to patronize NP-SL, emphasizing the company’s dedication to empowering Sierra Leoneans through job creation, tax contributions and support for local businesses. He also announced that the commissioning of the Filling Station would mark his final function as CEO, as he is set to retire on June 1, 2024, with Saidu Mansaray, the current General Manager, succeeding him. He urged full support for Saidu Mansaray in his new role.
Additionally, the Chief Executive Officer unveiled NP-SL’s plan to digitize their system introducing the NP Smart Card, known as NP-Energy Pass, for customers to access fuel at various Filling Stations.
Saidu Mansaray, the General Manager of NP-Sierra Leone Limited (NP SL-Ltd), reassured residents of Pujehun Town that the newly established NP-SL Filling Station would effectively resolve the longstanding issue of fuel shortages in the area. He encouraged residents to take ownership of the Filling Station to ensure its long-term sustainability.
The General Manager acknowledges the positive impact of having multiple Filling Stations in Pujehun Town, stating his commitment to ensuring uninterrupted fuel availability. He pointed out that the new Filling Station would not only guarantee constant fuel supply but also create employment opportunities for local residents.
Highlighting the importance of fuel infrastructure for local development, Saidu Mansaray noted that the presence of Filling Stations would attract investors to the area. He concluded by referencing Pujehun District’s historical significance as the resting place of an old warrior, underscoring the district’s importance and potential for growth and development.
In his welcome address, Paramount Chief of Kpanga Chiefdom, PC Andrew Ibrahim Jaiah Kaikai, expressed gratitude to NP SL and all attendees for taking time out of their busy schedules to attend the event.
He praised NP SL and Honorable Dixon Momoh Rogers for their continuous efforts to foster development in the district and assured his support to anyone willing to bring further development to his chiefdom. He also urged the newly employed staff at the filling station to work diligently in the best interest of the community.
Speaking on behalf of the Bike Riders Union, Chairman Brima Dao Samba , expressed their happiness and appreciation for the new facility.
He highlighted that the establishment of the filling station would significantly alleviate the longstanding fuel shortages in the district and pledged the union’s full cooperation with the new facility.
In his address, Honorable Dixon Momoh Rogers, who doubles as the Chief Executive Officer of the Nyakel Amadu NP filling station, thanked everyone for their support in realizing the project. He reaffirmed his commitment to listening to the needs of his people and addressing them effectively.
Rogers emphasized that the new filling station is intended to serve the entire Pujehun district and called on the community to take ownership of the facility. He also hinted at more developmental plans he has in store for the district.
The grand opening ceremony drew a large and diverse crowd, including paramount chiefs, section and town chiefs, government officials, NP company staff, members of the bike riders union, drivers union, traders union, other filling station owners, security personnel, family members, youth, women, and members of the press.
NP continues to solidify its position as the dominant petroleum company in the oil market by providing fuel access and assuring a constant supply of petroleum products nationwide. The inauguration of the Nyakel Amadu NP filling station marks a pivotal step towards resolving the fuel crisis in Pujehun, promising to bring much-needed relief and development to the district.
As part of its annual Environmental Week celebrations, Orange Sierra Leone (Orange SL) kicked off a week-long series of activities on Monday, May 27, 2024, themed “The earth is all we have…let’s go green.”
The launch event, held at the company’s Hill Station Head Office, was attended by Orange SL’s management team, staff, the Honourable Minister of Environment and Climate Change Jiwoh Abdulai, and members of the Fort estate community.
Head of Corporate Social Responsibility, Mimi Mugo, announced that the celebrations would focus on natural resource management and would involve various activities designed to educate and empower individuals on the importance of environmental preservation. Throughout the week, there will be awareness sessions across different departments, aimed at both organizational and individual levels. A beach cleaning exercise, organized in partnership with the International Organization for Migration (IOM), will take place on Friday, demonstrating Orange SL’s commitment to environmental protection. Additionally, a special ceremony will commemorate the first anniversary of their tree planting site cleaning initiative.
Edward Sesay of Orange SL highlighted the detrimental effects of pollution, noting that many people, especially in Africa, are unaware of the damage their actions cause. He contrasted this with Western countries, where environmental harm is often a result of intentional developmental pursuits. Sesay warned of the dire consequences if environmental destruction continues unchecked, emphasizing the deadly impact of air pollution, which is often overlooked. He mentioned that countries like the UK have taken steps to combat air pollution, such as reducing the number of cars on the roads, and stressed the need for similar measures globally.
Sesay also pointed out the distinction between indoor and outdoor pollution, with indoor pollution being particularly hazardous due to confined spaces. He urged everyone to take proactive steps in protecting the environment, emphasizing that solutions to pollution are universal but that pollution itself varies by region.
Addressing the gathering, the Climate Change Officer emphasized the importance of this year’s theme, which serves as a reminder of the significant impact of our actions on the environment.
“It is crucial for us to recognize our collective responsibility to the environment, our well-being, and the well-being of future generations,” she said.
She highlighted their commitment to environmental sustainability, noting that in 2023, their renewable energy ratio was 20%, which has now increased to 72% of their sites being powered by solar energy. Additionally, they planted 3,000 trees at Mortormeh Community in Regent, where a mudslide occurred, to restore ecological balance.
She also disclosed that last year, Orange Company was recognized as the Carbon Zero Champion Mobile Company of the Year for its sustainable efforts to reduce environmental impact.
She concluded by stating that despite these achievements, there is still more work to be done, and they are stepping up their efforts and setting more ambitious environmental goals for the future.
CEO of Orange Sierra Leone, Sékou Amadou Bah, emphasized the importance of environmental protection, stating, “We need to protect the environment more than protecting ourselves because we need the environment more than the environment needs us.” He highlighted common environmental challenges such as climate change, pollution, and deforestation, noting that a small percentage of humanity is responsible for a significant portion of the damage. Bah called for a collective effort to reduce our carbon footprint by minimizing waste, utilizing renewable energy, supporting sustainable agriculture, and advocating for robust environmental policies.
Minister of Environment and Climate Change, Jiwoh Abdulai, commended Orange SL for supporting government efforts to raise environmental awareness. He stressed the importance of community engagement in addressing environmental issues, as local stakeholders are crucial in implementing effective strategies. Abdulai detailed the government’s initiatives, including policy implementation and community sensitization, aimed at mitigating harmful human activities. He praised Orange SL for their compliance with environmental regulations and underscored the importance of such events in promoting environmental awareness.
