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Government to Add 5% Tax Increase on Lottery Winnings


Martin E Michael, the Managing Director of Mercury International, took to Twitter to highlight a crucial change within the Sierra Leone Finance Bill 2024 which will see a 5% tax increase winnings .

In his tweet, Michael specifically noted the impact on Mercury International’s customers, stating that starting from the 1st of January 2024, a revised tax rate will be imposed on winnings above 1,000 units. He highlighted a 5% increase, explaining that individuals falling within this bracket will now have to pay 15% of their winnings to the government.

He remarked, “All Mercury customers who from 1st January 2024 (I presume that is the start date) win above 1,000 will have to pay 15% of their winning to Govt, an increase of 5%. So if you win 1,000 you pay currently 100 to Govt but from next year it will increase to 150.”



To elucidate the implications, Michael provided an example, stating that currently, if an individual wins 1,000 Leones, they are obligated to pay 100 Leones to the government. However, with the incoming alteration in the tax policy, this figure will rise to 150 units from the upcoming year, marking a 50% increase in the amount directed towards the government from their winnings.

The adjustment in the tax rates on lottery winnings, as highlighted by Michael, is poised to have a direct impact on customers participating in Mercury International’s lottery offerings. The increase, though aimed at bolstering government revenue, may potentially alter the financial landscape for individuals who experience such winnings.

The announcement by the Mercury International MD underscores the importance for stakeholders and customers to prepare for the upcoming changes in tax policy, indicating a significant shift in the financial responsibilities associated with lottery winnings in Sierra Leone from the commencement of 2024.



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Rokel Commercial Bank, MD & CEO Nominated for Prestigious International Award Hosted in the UK by Reputation Poll International


The Africa Branding Agency is an organization based in Sierra Leone, which collaborates with Africa Achievers Award and Reputation Poll UK.

Rokel Commercial Bank was recently honored by being named one of Sierra Leone’s Top 10 Most Reputable Financial Institutions on November 4, 2023, during the nomination and certification program held at The TEES Shopping Mall, Wilkinson Road, Freetown.

The Bank’s Managing Director & CEO, Dr. Walton E. Gilpin, was also nominated as one of the Top 5 Financial Leaders in the country and will represent Sierra Leone at the Global Reputational Forum & Reputation Fintech and Award Night, that will be hosted by Reputation Poll International on December 8th and 9th, 2023, at the Marriott County Hall in London.



The Chairman responsible for the certification of the merit program, Mr. Mohamed Ahmed Kanu, underscored the credibility and significance of the nomination process. He also stressed the substantial contributions made by the nominated Financial Leaders and Institutions.

Speaking on behalf of The Africa Branding Agency, the CEO of BRAND SALONE, Mr. Abdul Wahab Bangura, extended his congratulations to the leaders and financial institutions representing Sierra Leone at the Marriott County Hall in London. He emphasized, “These programs and similar initiatives are consistently organized to acknowledge dedicated individuals, institutions, and various sectors that contribute positively to Sierra Leone’s development and growth as a nation.”

This accolade serves as a testament to Rokel Commercial Bank’s steadfast dedication to excellence and its substantial contributions to the financial sector.

The prestigious honor bestowed by Brand Salone reflects the Bank’s exceptional reputation and its continuous commitment to delivering outstanding banking services to its customers. With a strong emphasis on customer satisfaction and innovation, Rokel Commercial Bank has established itself as a trusted name in the financial industry.

As one of Sierra Leone’s leading financial institutions, Rokel Commercial Bank has played a crucial role in fostering economic growth and development in the country.

Through its participation in this global platform, Rokel Bank will have the opportunity to demonstrate its exemplary reputation management practices and innovative Fintech solutions. This acknowledgment underscores the bank’s commitment to excellence and its ongoing endeavors to strengthen customer trust and satisfaction.

Aruna Dumbuya and Kadijah Jalloh from the Public Relations Department represented RCBank. They expressed their gratitude for the nomination and certification program, which they viewed as a testament to the tireless efforts of the Bank’s Board, Management, and leadership.

Addressing the Bank’s Leadership and Management ideologies, Mr. Dumbuya highlighted Dr. Gilpin’s commitment to fostering innovation and embracing advanced technologies to cater to evolving customer needs. These efforts are aimed at improving accessibility and convenience for customers while upholding high service quality standards.

RCBank – The Bank of Choice



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Rokel Commercial Bank Receives Prestigious Accreditation from the International Trade Council


Rokel Commercial Bank in Sierra Leone has secured a notable milestone by obtaining accreditation from the esteemed International Trade Council (ITC).

As the latest addition to the league of accredited financial institutions, the bank now joins a globally recognized chamber of commerce committed to fostering international trade, dismantling trade barriers, and enhancing global commerce through education, networking, and pivotal business intelligence.

For numerous years, the ITC has been a leading advocate for market liberalization and equitable trade practices worldwide. The organization’s primary focus lies in promoting transparent, predictable, and multilaterally coordinated regulations while aiding members in navigating the complexities of international trade through streamlined processes and essential resources.

With local chapters established in 28 countries and a membership spanning 179 nations, the ITC’s influence encompasses government trade and investment agencies, Chamber of Commerce associations, and various business organizations. Widely regarded as a global trade advocacy powerhouse, the ITC’s impact has been palpable, creating job opportunities and enhancing living standards across the globe.

In an accreditation letter issued to Rokel Commercial Bank, signed by Nina Escarda from the organization’s Secretariat, the bank was certified for demonstrating compliance and acknowledgment as a member of the International Trade Council.

Expressing enthusiasm about the accreditation, Dr. Walton Ekundayo Gilpin, the Managing Director of Rokel Commercial Bank, highlighted the bank’s commitment to leveraging this achievement to make significant strides. Gilpin emphasized the potential for increased trade opportunities and expanded coverage, emphasizing the substantial win for Sierra Leone. He affirmed the bank’s dedication to becoming the preferred banking institution in the region.

The accreditation from the International Trade Council signifies a remarkable endorsement for Rokel Commercial Bank, reinforcing its position and signaling a new chapter in facilitating global trade and economic growth within Sierra Leone.



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Elephant Bet SL Celebrates 10 Days of Winning


Elephant Bet SL, a leading player in the world of sports betting and lotto in Sierra Leone, proudly announces that it has disbursed an astonishing 15 billion Leones in prize money to its fortunate winners over the past 10 days.

These wins, achieved through a combination of luck and knowledge, reflect the growing excitement and enthusiasm of Sierra Leoneans for football betting and Lotto.

Elephant Bet SL, the go-to platform for diverse betting options on sports, as well as Salone’s highest Lotto prizes, has witnessed an impressive surge in popularity and an increase in customer satisfaction over the past year. As more and more individuals revel in the thrill and exhilaration of football betting and Lotto, Elephant Bet SL has been at the forefront of delivering an unmatched betting experience.



In addition to our Lotto triumphs, Elephant Bet SL has also rewarded hundreds of millions of Leones to football betting enthusiasts who demonstrated their skill and expertise in predicting the outcomes of various matches and tournaments. The passion for sports and the opportunity to win big continue to drive our customers to engage with us.

Elephant Bet SL extends its warmest congratulations to all the winners, and we eagerly anticipate welcoming even more participants to our sports betting and Lotto activities. With a commitment to providing exceptional entertainment and opportunities for financial gain, Elephant Bet SL remains dedicated to making our customers’ experiences as enjoyable and rewarding as possible.

Exciting New Opportunity for New Players

For those looking to get in on the action, all new players joining Elephant BET’s online network can take advantage of our generous WELCOME BONUS. It’s an excellent way to start your journey with us and increase your chances of winning.

Effortless Access to Your Winnings

Winners can access their hard-earned winnings within seconds through convenient payment methods, including ORANGE MONEY, AFRICELL, or VOUCHER. At Elephant Bet SL, we make sure that your winnings are not only substantial but also readily available.

For more information, updates, and to join in the excitement, visit Elephant Bet SL’s website today. Your next big win could be just a bet away!

For media inquiries and further information, please contact:

About Elephant BET SL:
Elephant BET SL is a prominent and trusted betting platform in Sierra Leone, offering a wide range of sports betting options and the highest Lotto prizes in the country. With a commitment to providing an exciting and rewarding betting experience, Elephant Bet SL continues to engage and delight its customers while contributing to the growth of the sports betting and gaming industry in Sierra Leone.



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Unpacking the First Interswitch Fintech Forum in Sierra Leone


Africa’s leading integrated payments and digital commerce company, Interswitch, has successfully hosted its first-ever Sierra Leone Fintech Forum.

The groundbreaking event which took place on Thursday, November 2, 2023, at the Radisson Blu Mammy Yoko Hotel, Freetown, Sierra Leone, brought together key stakeholders, industry experts, and innovators to unpack the potential and future of financial technology in Sierra Leone.

The Sierra Leone Fintech Forum served as a dynamic platform for dialogue, collaboration, and knowledge exchange within the burgeoning fintech ecosystem. The event aimed to foster a deeper understanding of the transformative power of fintech and its role in shaping Sierra Leone’s economic landscape.

Speaking at the event, Akeem Lawal, the Managing Director, Payment Processing and Switching (Interswitch Purepay), highlighted the importance of fintech in driving innovation and growth in the African economy.

He said, “”Interswitch is proud to have played a pivotal role in bringing together the brightest minds in the fintech space. The forum reflects our commitment to driving innovation and facilitating the digital transformation of financial services in Sierra Leone.”

The Governor of the Bank of Sierra Leone Dr. Ibrahim Stevens who graced the inaugural Fintech event expressed his pleasure at the initiative to discuss the future of digital payments in Sierra Leone. In his speech, the Governor reiterated the need to grow the digital payment ecosystem leveraging collaborations, technology and capacity building.

The event featured panel sessions where renowned speakers and thought leaders from the fintech industry shared valuable insights into the latest trends, emerging technologies, and transformative opportunities in Sierra Leone, as meaningful connections were forged between industry players, fostering collaboration and partnership opportunities.

Commenting on the essence of the forum, Jonah Adams, MD, Digital Infrastructure & Managed Services (Interswitch Systegra), said: “Fintech has the potential to revolutionize the way financial services are delivered in Sierra Leone. By embracing innovation, Sierra Leone can create a more inclusive and prosperous financial system, and with collaborations like the Interswitch Fintech Forum, Interswitch is committed to creating an enabling environment for fintech to thrive in Sierra Leone.”

Attendees had the chance to engage in constructive conversations and explore potential synergies and gained a comprehensive understanding of the regulatory framework and its implications for the growth of the fintech sector.
Fintech is playing a critical role in transforming the way people access and use financial services in Africa.

By providing innovative financial solutions that are more accessible, affordable, and convenient, Interswitch is helping to drive financial inclusion and economic growth across Africa.



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Africell Launches 5G Network in Sierra Leone


Africell, Sierra Leone’s premier mobile network provider, unveiled its advanced 5G network on Thursday, October 26, 2023. The event, which attracted high-ranking government representatives, industry leaders, and media personnel, was held at the Sea View Lounge, New City Hall, Freetown.

Prominent figures present included Chief Minister, Dr. David Moinina Sengeh, Ministers Chernor Bah and Hon. Salima Bah, Ambassador Joe Blell, Chairman of the NatCa Board, and Mr. Amara Brewah, Director-General of the National Telecommunications Authority (NaTCA).

Shadi Gerjawi, Africell’s CEO, shared the company’s transformative journey from its 2G roots through its 4G era, and now to the groundbreaking 5G technology. He emphasized that 5G, being 100 times faster than 4G, plays a pivotal role in closing the digital gap, thereby enhancing lives.



As part of the event, Africell also showcased a new multi-functional mobile application, accessible via a QR code. The app provides various services, ranging from bill payments for utilities and services like EDSA, WAEC, DSTV, and Mercury, to facilitating financial transactions and complimentary SMS services for users.

Reiterating Africell’s broader vision, Gerjawi said, “Africell’s mission goes beyond being a telecommunications provider; it demonstrates our commitment to being a responsible corporate citizen.” He lauded Africell’s ongoing efforts in sectors like education, health, and youth empowerment.

He also extended heartfelt gratitude to the Sierra Leonean government, especially to Minister Salima Bah, Ambassador Joe Blell, and Director-General Amara Brewah for their unwavering faith in Africell’s mission.

In his remarks, NaTCA’s Director-General, Mr. Brewah, celebrated the arrival of 5G in the nation as a monumental step towards embracing a digitized future. He stressed the invaluable partnership between telecommunications giants and NaTCA, highlighting the anticipated advancements in internet quality, economic growth, education, healthcare, and governance.

Mr. Brewah also addressed the impending tariff hikes, reassuring that the enhanced quality of internet service would provide value proportionate to the costs.

Africell’s 5G network signifies Sierra Leone’s steadfast march towards a technologically advanced and interconnected tomorrow.



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Air France’s Final Flight Leaves Sierra Leone as Operational Suspension Takes Effect


October 28th, 2023 marked the final day of Air France’s operations in Sierra Leone. The airline bid adieu with its last flight departing from Freetown International Airport, heading to Paris via Guinea Conakry. This departure came following the airline’s earlier announcement of the suspension of its services at FNA due to persistently low passenger numbers, resulting in substantial financial losses.

For over two decades, Air France has been a prominent contributor to Sierra Leone’s tourism and aviation sector, aiding the government in job creation and bolstering the country’s revenue through tax payments. However, the dwindling profitability rendered the continuation of operations unviable, causing the regrettable cessation of services.

This development has significantly impacted Sierra Leone, particularly amidst the recent inauguration of the country’s state-of-the-art airport. The absence of Air France not only stands as a substantial loss but also raises concerns about reduced competition among the limited airlines operating within the nation.



The reduced competition might precipitate higher ticket prices for passengers traveling in and out of Freetown International Airport. This increase in costs could potentially burden travelers, posing a concern for the accessibility and affordability of air travel in and out of Sierra Leone.

The discontinuation of Air France’s services is a setback for the nation’s aviation industry, casting a shadow over the immediate future of air travel within Sierra Leone. As the country navigates this change, stakeholders are left contemplating the impact on both the economy and the ease of travel for its citizens and visitors.



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Sierra Leone Civil Aviation Authority Addresses Rising Air Ticket Prices


During the Ministry of Information and Civic Education’s Press Conference on October 24, 2023, the Director General of the Sierra Leone Civil Aviation Authority, Musayeroh Barrie, addressed the pressing issue of escalating air ticket prices.

Barrie highlighted several key factors contributing to the surge in ticket costs, shedding light on the challenges faced by both passengers and the government.

In her statement, Barrie emphasized that the increase in air ticket prices can be attributed to a combination of factors, including passenger volumes, reduced airline options, and the relentless impact of inflation.



In her words, “passenger volumes, fewer airlines, and inflation are among the factors that influence air tickets.”

She disclosed her own firsthand experience, having purchased a ticket from Freetown to London on the same day, October 24, 2023, at a cost of $1871. Of this sum, only $139 constituted government taxes, underlining that the vast majority of the ticket price is beyond the government’s regulatory influence.

This revelation underscores the complexities surrounding the air travel industry, where external factors play a significant role in determining the final cost of tickets.

As passengers grapple with rising expenses, Director General Musayeroh Barrie’s statement brings attention to the challenges faced by governments and regulatory bodies in managing airfare costs, striving to strike a balance between affordability and maintaining a sustainable aviation sector.



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Heavy Taxes Force Business Shutdowns in Freetown


Shops and businesses in Sierra Leone’s capital, Freetown, have been forced to close their doors due to the burden of heavy taxes imposed by the government. The situation remains in limbo as it’s unclear when these businesses will be able to resume operations.

As part of the government’s efforts to staunch revenue leakages, the installation of electronic machines is being implemented to ensure that not a single cent is lost. This initiative aligns with President Julius Maada Bio’s manifesto of blocking fiscal inefficiencies. Unfortunately, shop owners have placed blame on the National Revenue Authority (NRA) for exacerbating the harsh economic environment that they face daily.

Facing the brunt of this economic crunch, many traders have made the painful decision to leave Sierra Leone in search of more business-friendly climates in neighboring countries, with Liberia being the preferred destination to escape harassment and undue hindrances.



The situation has only worsened with a recent press release from the NRA, which imposes fines on taxpayers failing to integrate or complete the integration processes with the Electronic Cash Register (ECR) system. The press release warns that non-compliance will result in a penalty of 250,000,000 Leones and potential revenue loss assessments. The NRA, represented by Commissioner-General Ibrahim Brima Swarray, has given taxpayers a two-month grace period starting from October 20th of this year, during which the integration process can be facilitated for a minimal fee. Failure to meet this deadline will invoke penalties stipulated by law.

This shutdown marks the latest in a series of protests by businessmen in Freetown, with the introduction of the Goods and Services Tax (GST) system in 2022 being a major point of contention. Under this system, electronic machines will record sales and collect taxes, primarily affecting various businesses such as supermarkets, hotels, restaurants, bars, and more. The business community has expressed deep discomfort with these changes, viewing them as a form of economic exploitation, particularly in these times of economic hardship.

In response, businesses have grumbled that the NRA’s insistence on using these machines is an unnecessary burden and a potential exploitation of their economic challenges. Failure to issue a GST receipt generated from ECR machines can result in severe penalties, including hefty fines or imprisonment. To keep business afloat, GST taxpayers are required to notify the NRA of any issues during the installation and operation of these machines within 24 hours. They must also regularize their registration information to obtain a new Taxpayer Identification Number and install the machines promptly.

The relationship between the government and traders has deteriorated significantly due to these measures, leading to a dire business environment, with businesses folding under the strain. Business owners are now calling on the government to protect their businesses rather than impose further hardships.





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