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.”
Sierra Leone’s Bank Governor, Dr Ibrahim Stevens, has confirmed that the old Leones is to finally ceased to be a legal tender in the country by the end of 2023.
He was speaking in an exclusive interview with Radio Democracy 98.1, on Wednesday 22nd November, 2023 where He better explained the transition from the old Leones to the new one.
He said by the 31st December of this year, the old notes would not be allowed to be used in transactions, adding that it will totally cease to circulate in transactions.
However, he noted that although the old Leones would not be allowed in transactions after that period, Sierra Leoneans would not forfeit their monies. He said they would not lose any value, adding that they only need to go with their old currency to the Bank of Sierra Leone or any Commercial Bank from the 1st January to 31st March next year, and exchange them for the new notes with the same face value as the ones they went with.
“if you bring with you OLE 10,000, you should be given Nle 10” he assured.
Sierra Leone is presently using two Leone notes: the Old Leones (Le) and the New Leones (NLE). This has been since the introduction of the redenominated currency on the 1st July, 2022.
The old Leones would have ceased to be a legal tender in October last year, according to the announcement by the government a few weeks after the launch of the New Leones. The expiry date was later extended to the 31st March, 2023.
However, the old notes remained dominant in the market, even after the end of the extension, raising questions on the adequacy of the redenominated notes.
Sierra Leone’s esteemed betting company, Elephant Bet Lotto, stands as a beacon of transparency in the country’s lottery scene, offering one of the most meticulously conducted lotto draws.
The daily 5/90 Lottery draws, spanning seven days a week, encompass six draws each day from Monday to Sunday, held at precise intervals – 10:00am, 12:00pm, 1:30pm, 3:00pm, 4:30pm, and 6:00pm.
The day commences with the Elephant Bet special draw at 10:00am, followed by the Diamond Elephant Bet draw at 12:00pm. Afternoon draws unfold with the “Kailondo draw” at 1:30pm and “Betteh Don Kam draw” at 3:00pm. Concluding the day are the “Ndawo” draw at 4:30pm and the “Big Bonana” draw at 6:00pm.
Setting itself apart, Elephant Bet Lotto offers an impressive 15 chances to win, doubling the opportunities provided by other competing companies, which typically offer only seven chances. Moreover, to ensure an uninterrupted draw, Elephant Bet Lotto operates on a generator, circumventing any potential disruptions from the local electricity grid (EDSA).
At the heart of their draw process lies a Saturn machine containing 90 balls, serving as the random number picker using 2D physics engine simulation. Each draw possesses its own specialized machine, assuring both transparency and efficacy in the selection of winning numbers.
Supervised by a team of diligent professionals working independently, the draw process begins promptly at the specified time without any delays. The sequence of the draw unfolds methodically:
The 90 balls are lowered into the Saturn machine, which is then activated, initiating the mixing of the balls. The first five balls emerging signify the winning numbers, released by a device called the “audience.”
The subsequent five balls form the “extra 5.” A further 75 balls are allowed to exit, leaving the remaining five balls as the “machine numbers.”
The winning numbers, extra five, and machine numbers are announced based on their order of emergence from the machine. Crucially, the entire process operates autonomously once the machine is switched on, ensuring credibility and immunity from manipulation.
Post-draw, a specialist meticulously records the sequence of all 90 balls as they emerge, enabling customers to access this data for forecasting purposes, contributing to a more informed lottery experience. Elephant Bet Lotto’s commitment to transparency and integrity in their draw process underscores their position as a trustworthy betting company within Sierra Leone’s gaming landscape.
Are you ready to experience the excitement of “Aviator,” the latest game introduced by Elephant Bet? Here’s a step-by-step guide to get you started:
Game Overview: Aviator allows you to bet on a flying plane, where the longer it remains airborne, the higher your initial bet gets multiplied.
Betting Process:
Place your bet amount before the plane takes off. As the plane flies, the multiplier increases proportionally with its flight duration. 3. Cash Out Option:
You have the flexibility to cash out your bet at any point while the plane is still in the air. However, if the plane flies away without you cashing out, you lose your bet. 4. Strategy:
Opting for early cashouts with repetition can lead to winning with reduced risk. 5. Account Creation:
To participate, create an account on Elephant Bet. You’ll need to deposit funds before playing and can withdraw your winnings afterward. 6. Deposit Methods:
Elephant Bet accepts deposits via Orange and Afrimoni. 7. Playing Aviator:
Engage in the Aviator game today and every day for a chance to win instant cash with Elephant Bet. By following these steps, you can join the Aviator game, enjoy the thrill, and potentially win big while managing your risks effectively.
Rokel Commercial Bank, a leading financial institution in Sierra Leone, has been selected among prominent banks in Africa to participate in the intra-Africa Trade Fair in Egypt. With a comprehensive range of services, including personal and business banking, international banking, and electronic banking, the bank’s involvement underscores its commitment to fostering trade and investment within Africa.
As the renewable energy equipment market in Egypt reaches billions of dollars, Rokel Commercial Bank’s participation aligns with Egypt’s Integrated Sustainable Energy Strategy, aiming for a 42 percent share of renewable energy by 2035. By showcasing at the trade fair, the bank not only promotes its brand but also advocates for increased intra-Africa trade, encouraging economic cooperation and integration.
Furthermore, Rokel Commercial Bank actively supports initiatives like the African Continental Free Trade Area (AfCFTA), using the trade fair as a platform to discuss and enhance trade facilitation. The presence of high-level representatives emphasizes the bank’s dedication to fostering business opportunities and partnerships across the continent.
Participating in the event with over one thousand six hundred exhibitors from seventy countries, Rokel Commercial Bank seeks potential collaborations and network expansion. By aligning with the African Union’s vision for economic integration and the 2063 Africa Union Finance Charter, the bank reaffirms its commitment to contributing to Africa’s overall economic growth and development.
In essence, Rokel Commercial Bank’s presence at the intra-Africa Trade Fair underscores its active role in promoting economic cooperation, regional integration, and intra-African trade. Through participation, the bank aims to foster business opportunities, expand its network, and contribute to the growth and development of the African continent.
China International Import Expo (CIIE) is a historic event hosted in Shangai, by the Ministry of Commerce of the People’s Republic of China from the 5th – 10th November 2023. There was a display of locally grown and made in Sierra Leonean products by one named SME – Muvah Produce in the Poultry/ Agro – Processing industry that pursue passion in alignment with the vision of his Excellency the President Julius Maada Bio to feed Sierra Leone.
Sierra Leone’s Deputy Minister of Trade and Industry, Fatmata Wurie, led the delegate to China marking the first-ever participation of Sierra Leone in this international event. Amongst these display of dynamic products showcased was Muvah Produce from Sierra Leone. A farm that deals in poultry and palm oil production.
The farm over the years have demonstrated so much commitment and resilience in meeting its objective of providing healthy, organic, agriculturally mechanize and safe products for Sierra Leoneans. Muvah produce pride itself in egg, chicken and palm-oil production. The farm’s consistency and credibility has been nothing but impressive to its customers. The farm has professionals with wealth of experience and knowledge in the production of quality products that set it apart from competitors.
At Muvah Produce, standard and quality is our top priority, and as always Muvah Produce “De gro nd eat watin dem we plnt or produce” promoting local content.
Orange Sierra Leone, a key player in the mobile industry, has played a vital role in backing the National Youth Employment and Entrepreneurship Fair (NYEEF) 2023 with substantial financial support. As a frontrunner in Sierra Leone’s business landscape, Orange acknowledges the significance of empowering youth in their entrepreneurial pursuits.
In a commendable initiative, Orange Sierra Leone is hosting a “Pitch Your Business Idea” event at this year’s NYEEF on November 15th, from 2 pm to 4 pm. This platform enables young entrepreneurs to present their business ideas, offering a chance to win Le 10,000 and fostering innovation and creativity among the youth.
Furthermore, Orange Sierra Leone has extended its support by offering additional opportunities for the youth during the NYEEF program from the 13th to the 16th of November, 2023. This includes the Orange Esport Experience, where the winner stands to gain Le 7,000, and the 2nd winner Le 4,000. Additionally, the Orange Digital Center Hackathon 2023 presents a chance for participants to win Le 7,000, Le 5,000, and Le 3,000 for the first, second, and third positions, respectively.
To participate in these exciting programs, interested youth are encouraged to register their business ideas during the NYEEF program. Registration can be done by visiting the Orange booth or through the provided link: https://forms.gle/mCDpURKNLMbWuW4cA
Orange Sierra Leone’s commitment to fostering youth entrepreneurship is evident through these initiatives, reinforcing its role as a socially responsible corporate entity.
Sierra Leone’s economy is projected to grow at 3.7 percent on average during 2023–25, below its long-term trend. This scenario is predicated on sound domestic policies, including a tight monetary stance to combat inflation, and an equally conservative fiscal policy to decrease debt pressures and rebuild fiscal space.
Headline inflation could moderate gradually to 14 percent and the fiscal deficit decline to 3.9 percent of GDP by 2025, according to the new World Bank Sierra Leone Economic Update launched recently in Freetown. The report notes that risks to debt sustainability will remain elevated until fiscal balances improve further and the reliance on expensive and short-term domestic borrowings is addressed through the lengthening of maturities and greater access to concessional borrowing.
“Sierra Leone is faced with a challenging macroeconomic environment and the rapid rise in the cost of living combined with weak growth and deterioration of macroeconomic fundamentals threaten to increase the level of poverty among the population,” said Abdu Muwonge, World Bank Country Manager for Sierra Leone. “Therefore, the Government’s policy priorities should focus on restoring macro stability while protecting vulnerable households and maintaining focus on long-term reforms that are geared toward fiscal and debt sustainability.”
The economy experienced overlapping setbacks during 2022 as external shocks aggravated domestic macroeconomic vulnerabilities, resulting in a rapid debt build-up, rising inflation, and food insecurity. GDP growth slowed from 4.1 percent in 2021 to 3.5 percent in 2022, while inflation rose from 12 percent in 2021 to 27 percent in 2022, and further to over 40 percent by May 2023, threatening the welfare of households and worsening food insecurity and poverty. The fiscal deficit increased from 7.6 percent of GDP in 2021 to 9.6 percent in 2022, driven by a combination of macroeconomic headwinds and policy slippages. Public debt-to-GDP ratio increased from 84.7 percent at the end of 2021 to 96.3 percent at the end of 2022. The report notes that, though the outlook for the economy will be shaped by external developments, domestic policy remains key and should focus on restoring macroeconomic stability.
“Enforcing fiscal discipline and renewing the commitment to consolidation will be crucial in ensuring fiscal and debt sustainability. Active debt management can also support debt sustainability and reduce vulnerabilities,” said Smriti Seth, World Bank Senior Economist and one of the lead authors of the report.
The 2023 Economic Update devoted a special section on food security, examining recent trends, challenges and opportunities in three major agricultural value chains – rice, cocoa, and horticulture. It identifies the importance of supporting and empowering the private sector to undertake the required investments in the country’s agricultural sector. The report comes at a time the government has launched its ‘FEED SALONE’ flagship program with the aim to increase agricultural productivity and achieve food security and sovereignty.
The report notes that some 4.5 million people (55 percent of the population) have insufficient food consumption, 3.9 million (48 percent of the population) have crisis or above crisis-level food-based coping strategies, and 3.22 million (38 percent of the population) face challenges accessing markets. While the rate of chronic undernourishment is relatively stable (with a slight upward trend), the report notes that rapid population growth means that the size of the problem is steadily increasing in absolute terms. As policy priorities over the short to medium-term, the report identifies structural weaknesses of the food system as well as global shocks as having negatively impacted the livelihoods and incomes of farmers and exacerbated food security risks. To mitigate these challenges, focus should be placed on prioritizing safety net measures to enhance short-term food availability and access for the most food-insecure and vulnerable households, as well as addressing structural challenges to improve agriculture productivity and competitiveness and enhance the livelihoods of smallholder farmers.
Are you eager to learn how to deposit and withdraw on Elephant Bet, Sierra Leone’s leading betting company? Look no further; your worries are over! Here’s how to deposit and withdraw on Elephant Bet Sierra Leone using Orange and Africell
with your chrome browser and log in to your account. Locate and click on the “Deposit” option.
Insert Amount and Choose Network: Enter the amount you want to deposit.
Choose either “ORANGE” or “AFRICELL” as your preferred network.
Activate Bonus and Proceed Payment: If there’s a bonus available, activate it. Click on “PROCEED PAYMENT.”
Provide Phone Number and Token: Insert your ORANGE or AFRICELL phone number.
Enter the token provided by ORANGE (if applicable). Click on “Deposit.”
Withdrawal Process (Using Africell) Click on the space next to Register
Scroll down to my profile
In “MY PROFILE,” insert your AFRICELL PHONE NUMBER in the personal information section. Scroll down and click on “SAVE CHANGES.” Initiate Withdrawal: Scroll up and click on “MENU.” Select “WITHDRAWALS.”
Insert the withdrawal amount. In the payment account section, choose “AFRICELL.” Click on “WITHDRAWAL.”
Proceed Payment:
Click on “PROCEED PAYMENT.”
Withdrawal Process (Using Orange Money)
Access Withdrawal Section:
Click on the provided link for withdrawals. Enter Withdrawal Details:
Complete Withdrawal:
Insert the withdrawal amount. In the payment account section, select “ORANGE MONEY.” Click on “WITHDRAWAL.”
Click on “PROCEED PAYMENT.”
Check Confirmation: Check the message sent by ORANGE MONEY for confirmation.
By following these steps, you can easily manage your deposits and withdrawals on Elephant Bet using either ORANGE or AFRICELL, ensuring a smooth and secure gaming experience.
With the inauguration of Leicester’s inaugural ATM, Rokel Commercial Bank advances its commitment to financial inclusion in western rural Leicester. Now, residents can access funds conveniently, enjoying services such as cash withdrawals, balance inquiries, and fund transfers.
Recognizing the significance of financial inclusion, especially during festive seasons, Rokel empowers Leicester and nearby communities with reliable banking services. The ATM’s strategic placement at Peak Energy fuel station ensures accessibility for Leicester, Gloucester, Regent, Mount Aureol, and the Tree Planting community, saving customers time and effort.
Mr. Adikalie S. Kamara, Head of Operations, reiterated Rokel’s dedication to improving services and expanding reach. The Leicester ATM marks a step in this ongoing effort, emphasizing Rokel Commercial Bank’s commitment to providing innovative and accessible banking solutions in Sierra Leone.
Dr. Walton E. Gilpin, Managing Director & CEO, celebrated the Leicester ATM’s launch, emphasizing equal opportunity and access to finance for all. He highlighted Rokel’s various products, encouraged digital payments, and assured customers of modern, secure banking.
In closing, the managing director expressed belief in the Leicester ATM as a milestone, shared the community’s prayer for a bank, and committed to further expansion. He underscored Rokel’s economic rationale, encouraging bank accounts and cards for financial inclusivity in Sierra Leone, envisioning dominance in West Africa’s financial sector.
The ceremony concluded with the ATM’s opening by the head of corporate affairs, the chairman of Okada Riders, the Headman, and Rokel Commercial Bank staff.
