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Ministry of Finance Conducts National Policy Hearings For All MDAs Ahead of 2024 Budget


Sierra Leone’s Ministry of Finance has announced that its National Policy hearings for all Ministries, Departments, and Agencies (MDAs) will take place on Friday, 6th October 2023.

The event will be held at the New Brookfields Hotel, Freetown, starting at 8:30 a.m. according to a recent press release made available to Sierraloaded.

As part of the FY2024 Budget preparation process, the Ministry describes the Policy Hearing as a key starting point. “The Policy Hearing initiates the budget preparation process, enabling Ministries, Departments, Agencies (MDAs), and Local Councils to discuss and reassess sectoral policies, all of which are outlined in the Medium-Term National Development Plan,” the statement reads.



The release further specifies attendees for the policy discussions, emphasizing the focus on bilateral budget deliberations to establish guiding policies for revenue creation. The Ministry stipulates, “Attendance is limited to Ministers, Deputy Ministers, Professional Heads, and Vote Controllers. These Bilateral Budget Discussions aim to reach a consensus on policies that will steer revenue generation and resource distribution among the various MDAs.”



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Bank of Sierra Leone Reveals How Inflation Remains a Serious And Persistent Challenge


The recent monetary policy statement issued by the Bank of Sierra Leone has revealed that inflationary pressures have remained persistent since their previous MPC Meeting due to the demand and supply side factors.

The Policy statement affirmed that headline inflation edged up from 44.3 percent in May 2023 to 44.81 percent in June 2023 and increased significantly further to 50.94 – percent in August 2023.

The monetary statement further pointed out that headline inflationary pressures continue to be largely driven by both food inflation and non-food inflation.



The Monetary Policy Committee of the Bank of Sierra Leone met on 28 September 2023 in a meeting chaired by the Acting Bank Governor, Dr. Ibrahim L. Stevens. After a careful assessment of recent macroeconomic and financial developments in the global and domestic economy and the implications for domestic inflation and growth, the MPC decided to raise the Monetary Policy Rate [MPR] by 2.0 Percentage points, to 21.25.





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QNET Introduces WhatsApp Hotline to Clamp Down on Scammers


QNET, a global lifestyle and wellness company that employs a direct selling business model, stands firm in its commitment to transparency and taking decisive action against individuals misrepresenting its brand.

To reinforce this commitment, the company announces the launch of a Compliance Hotline on WhatsApp (+233256630005) specifically tailored for its operations in Sub-Saharan African countries, including Ghana, Nigeria, Sierra Leone, Burkina Faso, Liberia, Cameroon, Mali, Guinea, Benin, Togo, and others.

Transparency is of paramount importance in the direct selling industry, especially in emerging economies where QNET continues to gain traction. The company actively encourages strict adherence to its Code of Conduct and Compliance Policies and Procedures, aiming to set and maintain high industry standards.



In a concerted effort to combat policy violations and discourage unethical practices, QNET has taken robust disciplinary actions against those found in breach. Over the past three years, QNET has terminated numerous independent representatives (IRs) across 30 countries for non-compliance, policy violations, and unethical behavior.

The legal representatives of QNET have aided authorities from nine African nations in submitting complaints against more than 50 Independent Representatives (IRs). These actions underscore QNET’s unwavering commitment to upholding the integrity of the direct selling industry.

Mr. Biram Fall, QNET’s Regional General Manager for Sub-Saharan Africa, emphasized, “To enhance communication with our stakeholders in Sub-Saharan African markets, including customers, independent representatives, and distributors, QNET has introduced the WhatsApp Compliance Hotline exclusively for this region”.The hotline number is now operational, enabling individuals to easily reach out with questions or concerns regarding QNET’s policies and procedures or to report any irregularities. Our dedication to transparency and the fight against scammers remains steadfast, and we continue to collaborate with security and judicial agencies across the region to deter fraudulent activities.”

QNET encourages the public to utilize the QNET WhatsApp Compliance Hotline for Sub-Saharan African markets (+233256630005) or reach out via email to [email protected] for inquiries related to the company’s Policies and Procedures, Code of Ethics, complaints, or to report any irregularities.

This hotline offers both English and French as language options.

About QNET
QNET is one of Asia leading direct-selling companies offering a wide range of health, wellness and lifestyle products that enable people to live better lives. QNET’s grass-roots business model, fuelled by e-commerce, has helped empower millions of entrepreneurs in more than 100 countries worldwide.

Since its inception 25 years ago, the company has operated a unique business model that allows individuals, both men and women, to start their businesses and earn an income by selling the company’s products.

QNET is headquartered in Hong Kong and has a presence in more than 25 countries worldwide through subsidiaries, branch offices, agency partnerships, and franchisees. QNET is a member of the Direct Selling Association in several countries, the Hong Kong Health Food Association, and the Health Supplements Industry Association of Singapore, among others.

QNET is also active in sports sponsorships around the world. Some more prominent partnerships include being the Direct Selling Partner of Manchester City Football Club and the Confederation of African Football (CAF).

For more information, please visit QNET at:https://www.qnet.net/



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Bank of Sierra Leone Raises Monetary Policy Rate to 21.25%


The Bank of Sierra Leone has announced a hike in the Monetary Policy Rate (MPR) by 2 percentage points, increasing it to 21.25 percent.

This decision was revealed in a recently published document following a meeting of its Monetary Policy Committee (MPC) on 28 September 2023. The meeting was chaired by the Acting Governor, Dr. Ibrahim L. Stevens.

The document noted, “After an assessment of recent macroeconomic and financial developments in the global and domestic economy and the implications for domestic inflation and growth, the MPC decided to raise the Monetary Policy Rate (MPR) by 2.0 percentage points, to 21.25 percent.”



In explaining the rationale behind this decision, the Bank of Sierra Leone pointed to several factors. Global economic developments, inflation rates, domestic economic activities, fiscal development, as well as the state of money, banking, and financial system stability were all cited as significant considerations that influenced the monetary stance.

The document went on to emphasize the challenges of inflation, stating, “Inflation remains a serious and persistent challenge and there are upward risks to the outlook for inflation. These risks include further hikes in fuel and transportation costs, exchange rate depreciation, expansion in monetary aggregates, the continuous rise in the price of imported commodities, and inflation expectations. Given these risks and the level of persistence, the MPC is of the view that the stance of monetary policy going forward has to be contractionary (tight) over the next few quarters.”

More on this document could be read below:



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Bank of Sierra Leone Foreign Currency Exchange Rate For October 2, 2023


The Bank of Sierra Leone has on the 2nd of October 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including U.S. dollars, Pounds Sterling, Euros, and Canadian Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



  • Pounds Sterling: Buy at Le 27.1073, Sell at Le 27.3888
  • U.S. Dollars: Buy at Le 22.2410, Sell at Le 22.4646
  • Swiss Franc: Buy at Le 24.3908, Sell at Le 24.6325
  • Euro: Buy at Le 23.5143, Sell at Le 23.7482

The exchange rate for other currencies is available here. 

Meanwhile, in the unofficial market, the US dollar settled at Le25 on Monday, October 2, 2023. This is according to parallel market operators in Central Freetown and Lungi.

As per Hanke’s currency watchlist, the Leone is currently the fifth most depreciated currency globally.





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Bank of Sierra Leone Foreign Currency Exchange Rate For October 2, 2023


The Bank of Sierra Leone has on the 2nd of October 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including U.S. dollars, Pounds Sterling, Euros, and Canadian Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



  • Pounds Sterling: Buy at Le 27.1073, Sell at Le 27.3888
  • U.S. Dollars: Buy at Le 22.2410, Sell at Le 22.4646
  • Swiss Franc: Buy at Le 24.3908, Sell at Le 24.6325
  • Euro: Buy at Le 23.5143, Sell at Le 23.7482

The exchange rate for other currencies is available here. 

Meanwhile, in the unofficial market, the US dollar settled at Le25 on Monday, October 2, 2023. This is according to parallel market operators in Central Freetown and Lungi.

As per Hanke’s currency watchlist, the Leone is currently the fifth most depreciated currency globally.



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Orange Sonatel CEO Affirms Commitment to Provide High Speed Internet And Roll Out 5G in Sierra Leone


Sierra Leone’s President, Julius Maada welcomed Sekou Drame, Chief Executive Officer of Orange SONATEL Group in a strategic meeting on Thursday 28th September 2023 at State House Freetown.

He expressed heartfelt gratitude to the government for creating the enabling environment regarding the ease of doing business in the country and the government’s Human Capital Investment.



He emphasized the Company’s Commitment to give back to society as he congratulated the president for his second term-Victory.

Speaking on their strive to achieve digital inclusion in the country, he confirmed that since 2016 they had contributed positively to bring the best of technology and service delivery to the doorsteps of Sierra Leoneans. He affirmed Orange’s commitment to continue to provide high speed internet with plans to complete the rolling out of their 5G Campaign in the Country.

He assured the President of their Continue support in the areas social and financial support to Sierra Leoneans on Supporting Health Care Programmes and education.

In his response, President Bio thanked the Company on behalf of Sierra Leoneans for their various interventions and also the constructions of Pre-Schools in various parts in the country

He assured the CEO that his government will continue to support Orange in terms of financial inclusion as he maintains an open door- Policy for all investment in the Country.



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Double Up Announces Exclusive Distribution of “Coco Samba” Herbal Drink in Sierra Leone


Double Up Group of companies, one the leading distributors of premium beverages has announced its exclusive partnership with the main manufacturing and distributing factory in Nigeria for the renowned “Coco Samba” herbal drink.

As the sole distributor in Sierra Leone, Double Up Companies is committed to providing Sierra Leoneans with access to this exceptional herbal beverage.

The Management of Double Up Group of Companies has extended an open invitation to interested Sierra Leoneans who are willing to do business with them. Its emphasis is on transparency and integrity, as it aims to foster mutually beneficial partnerships with individuals and organizations across Sierra Leone.



In light of this, Double Up Group of Companies urges all interested parties to pass through their organization for any form of partnership or collaboration. By doing so, individuals and organizations can ensure that they are engaging in legitimate business practices and avoiding any potential legal consequences.

It is stated that the Double Up Companies is dedicated to upholding the highest standards of quality and authenticity, as attempts to manipulate or exploit the “Coco Samba” herbal drink for personal gain will not be tolerated.

The company confirmed that the product, “Coco Samba” is not meant for sexual exploitation, emphasizing that individuals found guilty of such actions will face the full force of the law.

“We are thrilled to be the exclusive distributor of the highly sought-after ‘Coco Samba’ herbal drink in Sierra Leone,” said Chernoh Barrie (T.) Barrie), Managing Director at Double Up Companies.

“We invite all Sierra Leoneans who are interested in partnering with us to come forward and join us in promoting this exceptional beverage. We are committed to maintaining the integrity of the brand and ensuring that all business dealings are conducted in a fair and lawful manner.”

Double Up Companies encourages all interested parties to reach out to their organization for further information or to discuss potential partnerships.



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Young Sierra Leonean Agriculturist Marketises Cassava Flour


A young Sierra Leonean Agriculturist, Francis John Sesay has invested in the production of cassava flour.

Cassava flour could serve as an alternative to the infamous wheat flour which is currently short in market due to the war in Ukraine.

Sesay, who studied Agricultural Engineering at Njala University launched is Cassavity brand as alternative to wheat flour which is expensive now in his country due Ukraine war.



Sesay said the flour can be used for baking cakes, doughnuts, pies and other flour-related products like fish ball.

Although cassava is a famous staple crop in Sierra Leone but it usage as a wheat flour substitute is new in the West African nation.

Some experts have said that large investment in the agriculture sector especially cassava could assist Sierra Leone achieve food sufficiency.



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Orange Foundation Director Recounts Journey With Ebola-Affected Kids


After years of philanthropy, Orange Foundation looks back at how far they have come with the 50 Ebola kids who have been in the care of SOS with welfare support from Orange Foundation in partnership with SOS and Ministry of Social Welfare.

Orange Sierra Leone (OSL) Foundation, led by Jestina Betts, is the company’s humanitarian wing that lends a helping hand to the needy, vulnerable and less privileged in society.

The company has done a lot in caring for children whose parents succumbed to the deadly Ebola Virus which struck Sierra Leone in May, 2014, a virus that left the country ravaged for two years. Sierra Leoneans breathed a sigh of relief in November, 2016 after the virus was declared over by Government but the aftermath of its effect in the country could not go unnoticed as the deadly virus left behind many orphans. Hence Orange SL through its Foundation, in collaboration with SOS, came to the rescue of 50 Ebola kids young as six months old to be placed in the care of SOS Children’s villages across the country.



These children have been sparsely assigned to the various SOS campuses across the country. Makeni campus North of Sierra Leone hosts 18 Ebola kids, Bo campus in the South holds 21 while Sierra Leone’s capital, Freetown have 11 making a total of 50.

Orange Foundation takes care of the children’s education by ensuring that they have access to quality schooling and learning opportunities.
The Foundation also caters for the children’s basic needs especially food and medical care until they turn 18.

In addition to basic care, the company also looks after other aspects of the kids’ education, a move that spells a brighter future for the kids since investment in education has no equal anywhere in the world.

With education, the kids after they become well-educated adults can positively contribute to national development when it is time to come on the stage of action.

Having it as a humanitarian obligation, the Foundation authorities often pay visit to the Ebola-affected children to get first-hand information about their well-being.

“…the OSL Foundation frequently pays courtesy visits to the children showing that we genuinely care for their welfare, and are actively involved in ensuring that they are doing well. Additionally, we send donations and hampers every year for the kids,” Jestina Betts informed the press about their valuable donations to the kids.

Such initiatives, Jestina says, showcases the positive impact businesses and organizations have on their communities especially during times of crisis and other life-threatening situations.

OSL’s/OSLF on-going commitment to these children showcases the power of corporate social responsibility and highlights the importance of long- term support in creating lasting positive change,” OSL Foundation Director tells the importance of caring for the vulnerable.

It is heartening to see that OSL Foundation and SOS are not only focused on the kids’ immediate welfare needs but also consider their transition into adulthood and support them during this critical phase of life.

These personal visits have a significant, positive impact on the children as it fosters a sense of belonging and reminds them that they are part of a larger supportive community.

The humanitarian move is a bright and inspiring example of corporate social responsibility and collective effort in making a difference in the lives of those in need.

Orange Foundation deeply appreciates the hard work and commitment of its partner SOS through the Country Director, Madam Sophie Ngong, for providing a safe and friendly home to these orphans.



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