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Orange Sierra Leone Exposes Scam Involving Super Advertis


Orange Sierra Leone, a leading mobile company in Sierra Leone has continued to disassociate itself from the fraudulent activities of Super Advertis, an online business platform reported to have defrauded Sierra Leoneans of a staggering 9 billion Leones.

In a statement made available to Sierraloaded, Orange revealed the deceptive tactics employed by Super Advertis scammers. The company clarified that unauthorized agents were illicitly collecting funds on behalf of the fraudulent platform. Immediate action was taken upon discovering these deceitful transactions, with Orange Sierra Leone promptly blocking the accounts of these unauthorized agents.

The mobile company emphasized that these agents lacked the authorization to engage in such financial transactions, and their accounts were suspended to prevent further fraudulent activities.



“They were using our agents to collect funds on their behalf. These agents are not authorised to perform these type of transactions. When we got alert of these fraudulent transactions we immediately blocked the accounts of these agents.” the mobile network company said.

Orange Sierra Leone has taken a proactive approach by reporting the issue to the Bank of Sierra Leone (BSL) and is now awaiting the next steps in the investigation.

According to Orange Sierra Leone, the blocked accounts do not show any clear indication that the embezzled funds are directly related to Super Advertis transactions. The company clarified that the primary reason for blocking the accounts was to curtail the involvement of the suspended agents. Interestingly, all attempts to reach these agents have been unsuccessful, adding another layer of mystery to the unfolding situation.

The company’s message serves as a cautionary note to its partners and the general public, urging them to remain vigilant and exercise caution when dealing with financial transactions related to Super Advertis.

Orange Sierra Leone’s commitment to transparency and swift action in response to the fraudulent activities demonstrates its dedication to protecting its partners and customers from potential scams.

As the investigation unfolds, Sierra Leoneans are anxiously awaiting updates from both Orange Sierra Leone and the Bank of Sierra Leone, hoping for justice to be served against those responsible for this significant financial fraud.



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Super Advertis Reportedly Defrauds Sierra Leoneans of 9 Billion Leones


Super Advertise, an online business platform operational in Sierra Leone from October 2023 to late December 2023, finds itself in a startling situation as it faces allegations of fraudulent activities. According to reports from the Gleaner Newspaper, Super Advertis is accused of defrauding Sierra Leoneans, amounting to over Le 9,000,000,000.00 ($369,000.00) through task commissions.

Adding complexity to the situation, Super Advertise asserts that Orange-SL, a prominent mobile operator, has frozen all its accounts. This move by Orange-SL not only raises concerns but also intensifies the dispute as the online promotion service platform accuses the mobile operator of obstructing its operations.

Responding swiftly to the serious accusations, Orange-SL issued a statement on January 3rd, 2024, vehemently refuting any involvement or contractual association with Super Advertise. Orange-SL clarified that there are no frozen accounts linked to the accused company on their Orange Money platform.



The conflicting narratives from Super Advertise and Orange-SL have created unease within the Sierra Leonean community. Authorities are now tasked with the challenging responsibility of uncovering the truth behind these allegations and assessing the extent of Super Advertise’s alleged fraudulent activities.

The reported defrauded amount of Le 9,000,000,000.00 ($369,000.00) adds financial distress to an already sensitive matter, prompting affected individuals to seek justice and accountability for their losses.

This unfolding saga underscores the risks associated with online platforms and emphasizes the importance of exercising due diligence in engaging in online transactions. It serves as a reminder for users to be cautious and prompts regulatory bodies to enhance oversight in the continually evolving landscape of online services in Sierra Leone.



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New Online Business Company, Super Advertis Shuts Down in Sierra Leone


Newly introduced online business Company, Super Advertis has announced to customers that it will shut down in 2 – 3 days from today Tuesday 2nd January 2024.

This announcement was made on its website early today. According to the announcement, all funds of the company have been frozen by Orange, hence the reason for its shutdown.

The Company has directed its users and partners to go to Rakuten, which it stated is its other branch, to retrieve all their money.



It further directed that they contact the manager of Rakuten and send their account ID as well as their balance screenshots, to handle fund withdrawals.

The development comes a few days after mobile money giant, Orange disassociated itself of any partnership with Super Advertis saying it does not have any contractual dealings or in any way associated with the business/company.

Super Advertis company was introduced in Sierra Leone in 2023. The platform recruited online workers who were asked to complete daily tasks, with a daily income of 50-500 NLE. It also promised corresponding commissions by completing the increase in praise of the products on the platform.



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Bank of Sierra Leone Foreign Currency Exchange Rate For December 15, 2023


The Bank of Sierra Leone has on the 15th of December 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



Pounds Sterling: Buy at Le 28.718-0.35, Sell at Le 29.01588-0.35

• U.S. Dollars: Buy at Le 22.531-0.06, Sell at Le 22.7575

• Euro: Buy at Le 24.4891-0.15, Sell at Le 24.7302-0.15

Note: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.



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Elephant Bet Emerges as Sierra Leone’s Premier Betting Company, Delighting Customers and Retailers Alike


In a recent interview, esteemed retailer Bonton Cole shared his exceptional experience with Sierra Leone’s leading betting company, Elephant Bet. Praising the company’s streamlined online platform and cutting-edge technology, Cole emphasized how Elephant Bet stands out for its efficient payment system, ensuring timely payouts, a significant edge over other betting firms.

One remarkable feature highlighted by Cole was Elephant Bet’s unique commission structure. The company pays out commissions every two weeks in physical cash, aligning with individual sales. Football games earn a commission of Le 8 for every Le 100 in sales, while the 5/90 Lotto yields Le 16 for every Le 100 sold. This lucrative incentive has empowered customers, with notable wins reported—such as a staggering 48 million leones scored from a mere Le 20 ticket.

Cole also commended Elephant Bet’s commitment to excellent customer care, emphasizing their attentive treatment of retailers. Notably, Elephant Bet pledges to repair retailer machines free of charge, ensuring seamless operations for their partners.



Notably, Cole stands among Elephant Bet’s top five highest-selling retailers, consistently generating approximately Le 2 million in sales per day—a testament to the company’s robust offerings and customer trust.

Elephant Bet, renowned for its diverse portfolio encompassing sports betting and casino products, including live betting, virtual games, attractive promotions, and substantial prizes, continues to redefine the betting landscape in Sierra Leone. With a reputation for reliability and innovation, it remains the go-to choice for discerning bettors seeking a comprehensive and trustworthy betting experience.



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Rokel Commercial Bank’s MD Dr. Walton Gilpin to Represent Sierra Leone, Speak at Global Reputation Forum & Fintech Awards


Dr. Gilpin, the astute Managing Director & CEO of Rokel Commercial Bank, has been nominated as one of the Top five (5) Financial Leaders in Sierra Leone. He is set to represent the country at the prestigious Global Reputational Forum & Reputation Fintech Awards hosted by Reputation Poll International on December 8th & 9th, 2023, at the Marriott County Hall in London. Additionally, he’ll serve as a speaker at this esteemed event.

Reputation Poll International Limited, renowned for listing the world’s 100 most reputable individuals and bank CEOs, is organizing this event in collaboration with WINTRADE and Go Global Trade, chaired by Lord J.D Waverley. The 2023 Global Reputation Forum aims to recognize the remarkable growth, integration, and reforms within Africa’s banking and financial sector.

The event is designed to acknowledge rapid expansion, integration, accelerated growth, and reforms of Africa’s banking and financial sector. The event will honor and celebrate outstanding Banks and Fintech Institutions that are moving Africa’s rapidly transforming finance sector. Expectations: 1. The forum is expected to bring together Executives from leading banks (Bank of England, HSVC, Europe Exim Bank ect) investors, Chairs, Technology and Innovation Top Executives. 2. Exclusive meeting with The Parliamentary Co-Chair of the U.K Trade and Investment including other Executive VIP Delegates.



The 2023 Global Reputation Summit will also feature a broad range of discussions and debates by top facilitators from Africa and Europe bringing theoretical & practical experiences to guide on how various sectors can work together to build credible reputation, branding strategies for accelerated growth; providing Banks, Fintechs, Global brands, individuals and organizations with the awesome opportunity to learn winning branding strategies that will help to build their reputation and maintain dominance in their markets.

These accolades reflect Rokel Commercial Bank’s commitment to leveraging cutting-edge strategies in technology and innovation, positioning itself as a key player in Africa’s innovative landscape.

RCB – The Bank of Choice!!!



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Sierra Leone Brewery Limited Introduces Zagg Energy and Maltina Pineapple Drinks


Sierra Leone Brewery Limited (SLBL) unveils two new beverages aimed at catering to a wide array of consumer tastes and lifestyles, further enhancing their beverage offerings.

ZAGG ENERGY – A Boost for an Unconventional Lifestyle

The newly introduced Zagg Energy drink seeks to redefine the energy drink experience. This distinct beverage is a fusion of invigorating malt infused with powerful energy bursts. Crafted for individuals who embrace life’s challenges in their unique way, Zagg Energy aims to revitalize and empower consumers tackling the demands of daily life.



According to Mr. Olufunmilayo Ogunbodede, Marketing Manager at SLBL, “Zagg was designed to aid consumers in coping with the daily hustle. Whether it’s mental or physical exertion, Zagg aims to help maintain energy levels amidst the challenges of adulthood.”

MALTINA PINEAPPLE – Adding a Tropical Twist to Refreshment

Expanding their renowned Maltina range, SLBL introduces Maltina Pineapple, a flavorful deviation from the classic favorite. Infused with the exotic essence of pineapple, this new variant promises the familiar wholesome goodness of Maltina coupled with a burst of tropical refreshment. Ogunbodede explained, “The pineapple variant offers a fresh take on the nutritious Maltina, appealing to a diverse range of consumer tastes.”

Both Zagg Energy and Maltina Pineapple will be available nationwide starting November 27th, 2023, accessible at various wholesale and retail outlets across Sierra Leone. Sierra Leone Brewery Limited aims to cater to evolving consumer preferences by providing a diverse range of refreshing beverage options for every occasion.





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Tough Macroeconomic Policies Needed to Stabilize Sierra Leone’s Economy


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.





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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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