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Sierra Leone’s Instant Payment Service Goes Live


Sierra Leone has officially launched its National Payment Switch, a groundbreaking initiative poised to revolutionize the country’s financial landscape and boost regional economic integration.

The launch ceremony, held at the Radisson Blu Mammy Yoko Hotel on Thursday, February 13, 2025, featured a keynote address by Vice President Mohamed Juldeh Jalloh.

The National Payment Switch enables instant payments between banks and mobile money operators, eliminating the need for traditional methods like checks.

Dr. Ibrahim Stevens, Governor of the Bank of Sierra Leone (BSL), announced at a press briefing earlier in the week that seven banks and two mobile network operators are already connected to the service. He emphasized the system’s potential to streamline transactions and improve efficiency, noting that similar systems are in use in countries like Nigeria.

“This system allows for direct payments from one bank to another or between mobile networks, eliminating the need for cheques and waiting periods,” Dr. Steven explained. He emphasized that the IPS would enhance transaction efficiency, financial security, and transparency, while also supporting digital commerce and innovation.

The National Payment Switch is being rolled out in phases. Phase 1, completed in May 2023, introduced ATM and point-of-sale (POS) interoperability. Phase 2, launched this week, focuses on real-time, interoperable transactions. Phase 3, expected to integrate the system with international payment gateways, will further position Sierra Leone as a key player in global digital finance.

Dr. Steven announced that the Bank of Sierra Leone has set April 1, 2025, as the deadline for full integration of all banks and mobile money operators into the system. He urged financial institutions to embrace the platform, assuring them of the central bank’s commitment to addressing any challenges during the integration process.

VP Jalloh highlighted the transformative potential of the switch, stating it will be crucial for driving economic reform and positioning Sierra Leone as a regional hub for digital financial services. He emphasized its importance for e-government services, including tax and fee payments, and its potential to enhance transparency and accountability in public finance management.

The initiative aligns with Sierra Leone’s commitment to regional financial integration, complementing the Pan-African Payment and Settlement System (PAPSS) under the African Continental Free Trade Area (AfCFTA). VP Jalloh expressed optimism that the switch will reduce transaction costs, promote digital trade, and strengthen economic ties across Africa. He urged all financial institutions, businesses, and government agencies to fully integrate the Instant Payment Services into their operations.

Finance Minister Sheku A. F. Bangura stressed the importance of stable economic policies and robust financial infrastructure for regional integration. He called for inclusive policies that drive sustainable growth and pointed to the European Union’s journey to the Eurozone as an example of long-term vision.

World Bank Country Manager Abdu Muwonge commended Sierra Leone for this milestone, drawing parallels with successful implementations in other countries. He emphasized the importance of adoption and urged mobile money providers to maximize transaction volumes through the system. He also highlighted the next phase of financial inclusion, which will focus on providing credit lines for youth and women entrepreneurs.



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QNET’s Bernhard H. Mayer Showcases Elegant Craftsmanship for Valentine’s Day


This Valentine’s Day, Bernhard H. Mayer, a luxury brand available exclusively through QNET, introduces the Alto Ceramic Watch and the Insignia Heart Jewelry Set, both exemplifying the brand’s commitment to timeless design and exceptional craftsmanship.

The Alto Ceramic Watch, crafted in Switzerland, features a scratch-resistant ceramic bezel, stainless-steel case, and sapphire crystal glass.

It operates on precision quartz movement with luminous hands for low-light readability and is water-resistant up to 50 meters—blending durability with refined aesthetics for everyday wear.

The global luxury watch market, valued at USD 42.21 billion in 2022, is projected to grow at a CAGR of 5.0% through 2030, driven by increasing demand for premium timepieces and evolving consumer preferences.

Ceramic watches, known for their durability, lightweight design, and hypoallergenic properties, have become a standout choice. Their resistance to scratches and fading, along with advancements in ceramic technology, enhances their appeal among modern consumers.

The Insignia Heart Jewelry Set, featuring a pendant and matching earrings with heart-shaped motifs and gemstone accents, is crafted from high-quality materials for versatile wear, either as a set or individually.

“Valentine’s Day is more than just a date on the calendar; it’s a time when people seek meaningful ways to express their emotions,” said Trevor Kuna, QNET’s Chief Marketing Officer. “Jewelry and timepieces, with their timeless appeal, become powerful symbols of heartfelt sentiments.

The Alto Ceramic Watch, with its enduring craftsmanship and sleek design, represents the strength and resilience of lasting connections, while the Insignia Heart Jewelry Set captures the essence of love and emotional resonance. Together, they reflect the depth and beauty of relationships, making them meaningful choices to celebrate Valentine’s Day.”

The new collection is available exclusively through QNET, a global wellness and lifestyle company that uses a direct selling business model. QNET’s craftsmanship and attention to detail make Bernhard H. Mayer’s collections stand out in a crowded marketplace.

The Alto Ceramic Watch represents enduring love with its high-quality materials and timeless design, while the Insignia Heart Set symbolizes deep emotional connections. This Valentine’s Day, gift more than just beauty—gift a symbol of commitment and elegance. Explore the collection at QNET’s official website at www.qnet.net and celebrate love with purpose.

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



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Salone Payment Switch Launches For Instant Payment Service Across Sierra Leone


The Bank of Sierra Leone has officially launched Salone Payment Switch, its Instant Payment Service, a groundbreaking initiative that will enable real-time money transfers between banks and mobile money platforms.

The launch was announced by the Bank Governor of the Sierra Leone Central Bank, Dr. Ibrahim Stevens, during a press conference at the Ministry of Information and Civic Engagement. The official launch, scheduled for Wednesday, February 13, 2024, will be conducted by Vice President Juldeh Jalloh.

Dr. Stevens explained that the Instant Payment Service will allow for immediate payments between banks and mobile operators, streamlining financial transactions for all Sierra Leoneans. He encouraged the public to register for the service to take full advantage of its benefits.

Minister of Information and Civic Education, Chernor Bah, hailed the Instant Payment Service as a “huge and massive development” for Sierra Leone. He emphasized the service’s ability to provide immediate transaction notifications and instant access to funds, eliminating the previous delays associated with traditional banking cash-out services.

A representative from the Sierra Leone Association of Commercial Banks, Velma Labor, highlighted the benefits for merchants, stating that the service will enable 24/7 business transactions without the limitations of bank operating hours or holidays. This is particularly beneficial for small-scale businesses, she noted.

David Mansaray, CEO of Orange Money, underscored the significance of the achievement, noting that few countries, especially those with similar economic profiles to Sierra Leone, have successfully implemented such a system. He emphasized the advanced nature of the service and its potential to transform financial transactions in the country.

Martinson Obeng-Agyei, CEO of Afrimoney, addressed the challenges faced by small-scale businesses in Sierra Leone, citing the cost of transaction fees and the often-intimidating process of depositing small amounts of cash in banks. He believes the Instant Payment Service will alleviate these burdens by providing a more efficient and accessible way to manage finances. He urged Sierra Leoneans to embrace the new system and recognize its potential to build a more robust financial ecosystem.



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NP (SL) Limited Sets the Record Straight Amid Baseless Allegations


NP (SL) Limited, Sierra Leone’s premier petroleum marketing company, has long stood as a pillar of reliability, excellence and national economic growth. With a track record spanning decades, the company has consistently demonstrated an unwavering commitment to operational efficiency, customer satisfaction and sustainable business practices. Its prominence in the oil marketing sector is not the result of political affiliations but rather the outcome of strategic investments, sound managerial decisions and a steadfast dedication to service delivery.

As the largest and most reputable oil marketing entity in Sierra Leone, NP (SL) Limited has played a pivotal role in shaping the country’s petroleum industry. It has built a vast and efficient supply chain, ensuring fuel availability across the nation, even in challenging economic climates. The company’s ability to maintain stability within the market has been instrumental in preventing supply disruptions and mitigating economic shocks related to fuel shortages.

One of NP (SL) Limited’s defining characteristics is its commitment to fostering mutually beneficial partnerships with fuel dealers and station owners. Over the years, the company has made substantial investments in dealer infrastructure, including the provision of fuel pumps, spare parts and maintenance services. These initiatives have enabled countless petroleum entrepreneurs to grow their businesses, with many expanding their operations from single fuel stations to multiple outlets. Such success stories underscore NP (SL)’s role as a catalyst for business growth and development in the sector; one that is not bent on exploitation.

In line with its commitment to market stability and equitable partnerships, NP (SL) Limited has continually assessed and adjusted its pricing and commission structures to support its dealers/resellers. The company recently reviewed its commission framework, introducing an increase that balances the interests of dealers/ resellers with the need for sustainable operations.

This adjustment reaffirms NP (SL)’s responsiveness to stakeholder concerns while ensuring the long-term viability of the business. However, demands for excessively high commissions must be weighed against the operational realities of the petroleum industry, where distribution costs, transporter fees and regulatory obligations must be met to sustain a stable market.

Despite a competitive landscape where a new entrant has introduced unsustainable pricing strategies, NP (SL) Limited has remained steadfast in upholding industry best practices. The company has always welcomed fair competition, recognizing that a healthy market environment benefits consumers and industry stakeholders alike. However, competition should be based on sustainable business models rather than short-term financial incentives that risk destabilizing the sector.

Understanding the concerns of various stakeholders, NP (SL) Limited continues to engage in meaningful dialogue with resellers and dealers. The company remains committed to resolving any outstanding issues amicably, fostering a collaborative environment where all parties can thrive. Through constructive engagement and industry leadership, NP (SL) is exploring ways to ensure that its partners remain profitable while the company continues to provide the high-quality services that customers have come to expect.

As an indigenous company deeply invested in Sierra Leone’s economic progress, NP (SL) Limited remains dedicated to maintaining its reputation for excellence. It will continue to operate transparently, uphold the highest industry standards and contribute to national development by ensuring a stable and efficient petroleum sector. In doing so, NP (SL) reaffirms its role as a trusted partner in the country’s economic journey, committed to service, growth, and sustainability.



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Rokel Commercial Bank’s Sim Korpor Unit Introduces EDSA Token Vending Service


Rokel Commercial Bank (RCBank) has announced a new initiative to enhance the accessibility and convenience of purchasing electricity tokens through its Sim Korpor Mobile & Online Banking platform.

In an official communication, Kezia Salankole, Head of the Simkorpor Unit at RCBank, informed team members about the availability of EDSA token vending as a key feature on the platform.

The initiative aims to promote the bank’s digital services while offering customers a seamless way to purchase their monthly electricity tokens directly through Sim Korpor.

To facilitate the process, customers are required to provide the following details:

Name

Meter Number

Account Number

Desired Amount

The bank has also extended the service to allow branch-wide monthly purchases, enabling multiple users within an organization to streamline their electricity payments.

Customers and institutions interested in utilizing this service are encouraged to submit their details to the Sim Korpor Unit to get started by contacting +23278222501 or +23277222501



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Sierra Leone Auctions NLe633 Million in Government Securities


The Bank of Sierra Leone (BSL) has successfully auctioned NLe 633 million in government securities, a move aimed at bolstering the nation’s economy and funding critical development projects.

Awoko reports that the auction, held on February 6, 2025, offered a variety of treasury bills and bonds, catering to both short-term and long-term investment strategies.

The offering included short-term Treasury Bills (T-bills) with maturities ranging from 91 days to one year. Specifically, the auction featured:

NLe 4.47 million in 91-day T-bills, maturing in May 2025
NLe 12.46 million in 182-day T-bills, maturing in August 2025
NLe 482.05 million in 364-day T-bills, maturing in February 2026

For investors seeking longer-term opportunities, the BSL also made available:

NLe 60 million in 2-year Treasury Bonds (T-bonds), maturing in February 2027
NLe 74.1 million in 3-year Treasury Bonds (T-bonds), maturing in February 2028

This diversified portfolio of securities was designed to attract a broad range of investors, from individuals to institutions, while simultaneously providing the government with the necessary capital to finance its programs and meet its financial obligations.

Government securities are a key instrument for economic management, enabling governments to fund infrastructure development, social programs, and other essential initiatives. The NLe 633 million raised through this auction demonstrates the government’s commitment to fostering sustainable economic growth.

To ensure widespread participation, the BSL facilitated access to these investment opportunities through commercial banks and discount houses, making them available to a broader segment of the public.



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NIB and NRA Partner to Streamline Business Registration and Boost Revenue Collection in Sierra Leone


The National Investment Board (NIB) and the National Revenue Authority (NRA) have announced a collaborative partnership aimed at simplifying business registration and improving revenue collection processes in Sierra Leone.

The initiative, discussed at a meeting held on February 3, 2025, reflects the government’s commitment to fostering a more attractive investment climate and driving economic growth.

Dr. Edward Hinga Sandy, Executive Director of the NIB, emphasized the significance of the partnership, linking the establishment of the NIB to President Julius Maada Bio’s vision for a stronger investment landscape. He highlighted ongoing government efforts to create a “one-stop shop” for business registration, facilitation, and retention, designed to streamline operations for investors while ensuring compliance with national regulations.



Dr. Sandy stressed the importance of collaboration with the NRA in improving the business environment, noting that a more efficient registration and revenue collection system would attract increased investment, encourage compliance, and generally create a more business-friendly atmosphere.

Echoing this sentiment, Mrs. Jeneba J. Bangura, Commissioner-General of the NRA, pledged the authority’s full support for the joint initiative. She underscored the importance of seamless revenue collection through automation and assured the NIB of the NRA’s commitment to enhancing the efficiency of the process.



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NP [SL] Limited Expands Reach with New Petrol Station in Sorogbema Chiefdom, Jendema


To improve access to fuel, particularly in remote areas, NP SL Limited officially inaugurated a new petrol station, Abyei Gas Station, along the Jendema Highway in Sorogbema Chiefdom, Pujehun District.

The facility, owned and financed by Lahai Sandy Koroma, a development-driven native of Sorogbema, adds to his existing petrol stations in Bo City and Zimmi.

The grand opening, held on Saturday, February 1, 2025, was attended by key stakeholders, including traditional leaders, security personnel, representatives from the Drivers Union, the Bike Riders Union (BRU), youth groups, the media, and other community members.



Welcoming the gathering, Chiefdom Speaker Augustin Jah Zoker expressed gratitude for the investment, emphasizing the significance of the station in addressing long-standing fuel shortages in the region. He called on NP to maintain its reputation for quality service, assuring that the community would make good use of the facility.

Representing the CEO, The Sales Manager Ing. Vandy Bockarie praised the people of Sorogbema for their support and acknowledged the Gone community for providing land for the project.

He announced that Gone and Jendema would now be recognized as a city and assured residents that the 45,000-liter capacity station would significantly ease fuel challenges. He further noted that the station would operate daily from 6:00 AM to 10:00 PM with standard pricing and professional service.

 

On behalf of the Mano River Union Division Police, ASP Michael A. Vanboy, the Support Officer, welcomed the development, pledging to provide security for the facility and ensure its protection from criminal activities.

The Town Chief of Gone, Chief Mohamed Keiwei, extended appreciation to Lahai Sandy Koroma and the landholding family for their role in making the project a reality. He assured that the community would safeguard the facility for the benefit of all.

From the transport sector, Drivers Union Chairman William Peal highlighted the previous difficulties in accessing petrol, stating that the new station would greatly ease their burden. Similarly, Bike Riders Union Chairman Lahai Zoker urged the station’s staff to uphold high service standards to maintain NP’s reputation.

The Mamie Queen of Sorogbema Chiefdom, Madam Tata Koroma, expressed gratitude for the investment, noting that women in the chiefdom welcomed such progress. However, she called on Mr. Lahai Sandy Koroma to extend support toward women’s empowerment, as many women in the area continue to face economic hardships.

Youth leader Jonney Rogers also commended the initiative, acknowledging that it has already created job opportunities for young people. He urged that more employment opportunities be provided for the youth in Sorogbema.

The opening of Abyei Gas Station marks a significant step in NP’s continued expansion, ensuring that fuel accessibility will no longer remain a challenge in Sorogbema Chiefdom.



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First Lady Hands Over Orange Digital School Kits to Ansarul Primary School in Kono


On Monday, January 27, 2025, the First Lady of the Republic of Sierra Leone, Dr. Fatima Maada Bio, officially launched Orange Foundation Sierra Leone’s Orange Digital School Kits initiative.

The event, held at the Ansarul Islamic Primary School for Girls in Kono District her alma mater was a significant step toward enhancing the digital learning experience for young pupils in Sierra Leone.

Dr. Fatima Maada Bio, alongside Orange Sierra Leone CEO Sekou Amadou Bah, ceremoniously handed over a comprehensive set of digital school kits to the school. This donation aims to foster technological literacy and equip pupils with critical skills to thrive in a digital era.



The ceremony, hosted in the school hall, attracted high-profile attendees, including the Mayor of Koidu City, Komba Mathew Sam; Orange Sierra Leone General Secretary Danetta Younge; Head of Orange Digital Centre Finnah Mariama Stevens; as well as school authorities, community stakeholders, and local residents.

The donated digital kits comprised cutting-edge tools such as tablets, Raspberry Pi devices, laptops, Bluetooth speakers, projectors, screens, headsets, extension cables, power banks, and solar panels. These resources are tailored to enhance digital literacy, providing students with access to a tech-driven education.

In her remarks, Finnah Mariama Stevens emphasized the need for technological tools to drive innovation and bridge the digital divide. “From Freetown to Bo, Kenema, Kailahun, Pujehun, and now Kono, the Orange Foundation is ensuring that every child in Sierra Leone has access to the technological tools essential for today’s world,” she said.

She underscored Orange Sierra Leone’s commitment to the government’s human capital development agenda and its focus on empowering young girls through access to digital resources.

Addressing the gathering, Sekou Amadou Bah, CEO of Orange Sierra Leone underscored the transformative potential of the Digital School Kits in promoting education and empowering pupils through technology.

“These kits are electronic libraries designed to provide educational content to schools with limited or no internet access,” he noted “Currently, 16 countries, including Sierra Leone, have benefited from this program, with 1,400 schools and 500,000 pupils gaining access to digital education tools.”

Over the past three years, Orange Sierra Leone has donated 35 Digital School Kits, impacting over 10,000 pupils nationwide. The initiative also offers schools the opportunity to participate in the prestigious Wiki Challenge, an international competition organized by Orange Group. Last year, a Sierra Leonean school, Dele Preparatory School, won a €5,000 prize for their article on “Krio Print Dress.”

Bah urged pupils and teachers to handle the equipment with care and fully utilize them to enhance learning. “With technology, we can expand our horizons and enable new ways of easy learning. These tools are not just about access but about empowering young minds to explore and innovate,” he stated.

He reaffirmed Orange Sierra Leone’s commitment to supporting the government’s human capital development agenda through initiatives that align with President Julius Maada Bio’s vision for the country.

His Worship, Mayor Komba Mathew Sam, expressed his gratitude to Orange Sierra Leone for selecting the Ansarul Islamic Primary School for Girls as a beneficiary of the initiative. He praised Orange Sierra Leone for bringing such innovative resources to his district and urged the school to utilize the digital kits to their fullest potential.

Reflecting on his own educational journey, Mayor Sam stated, “During my school days, I did not have the privilege of learning about computers until my college years. These young girls are fortunate to have this opportunity at such an early stage, and I hope they make the most of it.”

Headmistress Zainab Bah also commended the Orange Foundation for their generosity and expressed appreciation to Dr. Fatima Maada Bio for gracing the event. “We are committed to making the most of these resources to enhance our pupils’ learning experience and ensure their sustainability,” she assured.

In her keynote address, Dr. Fatima Maada Bio commended Orange Foundation Sierra Leone for its commitment to empowering education and emphasized the importance of equipping pupils with the skills necessary to thrive in the digital age. The initiative underscores the collaborative efforts to bridge the digital divide and promote educational development across the nation.

The First Lady of Sierra Leone, Dr. Fatima Maada Bio, expressed deep gratitude to her former school, crediting it for shaping her into the woman she is today. Dr. Bio highlighted the importance of technology in modern education, emphasizing that the digital kits would provide the pupils access to the tools needed to thrive in a rapidly evolving, tech-driven world.

Dr. Bio encouraged the pupils to aspire beyond societal expectations, urging them to embrace science, technology, engineering, and mathematics (STEM) courses to position themselves as leaders in Sierra Leone and beyond. She underscored the importance of breaking barriers, discouraging early marriages, and striving for careers in leadership and innovation.

She urged the school to make effective use of the digital kits, emphasizing the importance of embracing technology in an increasingly digital world. “Today, let us celebrate Orange. I want all the pupils here to stand up and say, ‘Thank you, Orange.’ We promise to make good use of this facility and this opportunity.

She also expressed her gratitude to Orange Sierra Leone for the digital school kits, praising their efforts to empower girls across the country. “May God bless Orange Sierra Leone, elevate them, and help them grow from strength to strength,” she concluded.

The event concluded with the formal handover of the Digital School Kits to the school administration, symbolizing a new chapter in the pupils’ education journey. This initiative is expected to inspire a brighter future through the integration of technology into learning, paving the way for innovation and progress in Sierra Leone.



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ITC Launches READY Salone Project to Train 3,000 Sierra Leonean Youth For The Digital Economy


Young entrepreneurs in Sierra Leone are set to sharpen their digital skills with the launch of the ‘Sierra Leone: Empowering Youth through Digital Technologies’ (READY Salone) project by the International Trade Centre (ITC).

Funded by the Korea International Cooperation Agency (KOICA) and implemented over four years, the READY Salone project will support youth, young entrepreneurs, business support organizations, tech hubs and policymakers to harness opportunities in the digital economy. The initiative places a strong emphasis on young women and persons with disabilities.

The launch event will be attended by key government officials, including Hon. Dr. David Moinina Sengeh, Chief Minister; Hon. Ms. Haja Salimatu Bah, Minister of Communication, Technology and Innovation; Hon. Mr. Mohamed Orman Bangura, Minister of Youth Affairs; and Hon. Mr. Ibrahim Alpha Sesay, Minister of Trade and Industry. Over 100 youth and key stakeholders from the business and tech communities are also expected to participate.



To mark the project launch, there will be a signing of a memorandum of understanding by ITC Executive Director, Ms. Pamela Coke-Hamilton; the Chief Minister of Sierra Leone, Hon. Dr. David Moinina Sengeh; and KOICA Nigeria, Deputy Country Director, Mr. Baik Ki-Hyun.

Four interventions underpin the READY Salone project: enhancing digital literacy among youth; boosting entrepreneurial competitiveness through upskilling; strengthening tech-focused business support services; and developing inclusive national digital strategies. More information about the project can be found in its flyer here.

Through the project, 3,000 youth and 250 micro, small and medium-sized enterprises will gain access to digital skills and business opportunities.

The Ministry of Youth Affairs and the Ministry of Communications, Technology and Innovation are the main government partners for READY Salone.

Interested youth and young entrepreneurs may express their interest in the project by completing this form.

About the International Trade Centre

ITC is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals.

For more information, visit www.intracen.org.



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