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Friday, November 15, 2024
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Chief Innovator Hails SLCB

Dr David Moinina Sengeh

Professor David Sengeh who happens to be the Head of the newly created Directorate of Technology and Innovation in the Office of the President, has heaped profuse praises on the Management of the Sierra Leone Commercial Bank.

Speaking at the Bank’s launching of three digital platform products recently Professor Sengeh revealed his sighs of excitements at the moment when the SLBC approached him on the solutions that they had adopted for taking the Bank digital.

He commented that the Bank’s strides in the direction of using technology to take banking to the people was phenomenal, noting that technology should not divide but bring people – old and young, rich and poor – together.

He remarked that technology is required for our development. Prof. Sengeh who said he wants to live in a cashless society where he does not have to use paper notes for transactions stated that we are far yet from being a cashless society.

He stated that SLCB’s digital banking is safe in terms of security from hackers and appealed to the country to support SLCB and the Local Content Policy.

The occasion saw the SLCB Management introduce three new products in their digital banking suite that makes the bank one of the leading contributors to the country’s financial inclusion drive.

They are MiYone Online Banking, MiYone Mobile APP and Wi Yone Online Direct.

These three products allow individual and corporate customers to access banking services via their mobile devices at the touch of buttons on their mobile phones.

They are in addition to the bank’s previously launched MiYone Teller and MiYone Kiosk, all geared towards expanding financial services to the non-formal sector of the economy through automation and electronic forms of mediation, hence addressing the low level of financial inclusion in the country and as well raise domestic revenue generation.

Housemates Salone Reaches Fever Pitch

With time running out, barely few days more remaining for the show to reach its final stage, the 2019 Housemates Salone TV Reality Show is indeed becoming interestingly very, very competitive.

One cannot doubt that it is really noticeable that the each of the current Housemates in the House are doing all his or her their ability and reach to become more endearing to members of the public, who have been offered the privilege to vote for their favorite Housemates via Africell No: 5500. Trying to display nudity, strong language and humor, the Housemates are anxiously endeavoring with tact to outsmart each other so that at the end of the day one of them becomes the ultimate and successful winner of the mouth-watering Le 100,000,000 that has been set aside as the star prize.
Could it therefore be any big surprise why presently serious lobbying is taking place by the contestants and campaigners to capture more votes?
It is discernable that all the Housemates are becoming rowdy as verbal attacks frequently do take place bordering on personal differences and more especially to gain attention as well as to claim superiority.

The whole rationale behind organizing the TV Reality Show is geared towards providing the right platform for youth empowerment. It is to give young people, the contestants, that space to demonstrate their God given talents, to imbibe new ideas, skills and gain exposure. Organizers of the competition, Africa Young Voices (AYV) Media Empire and Africell have always being at the forefront to avail young people opportunities to be polished and become very relevant in society. It is within that ambit or realm that the 2019 Housemates Salone TV Reality Show materialized and from its commencement it has been going on very well.
Aired on AYV TV Station, Channel 34, the contest currently has become the much talked about entertainment event eliciting discussions in different quarters within and outside the country some criticizing, praising certain aspects of it alongside making predictions as to the Housemate that will top the race.

As the competition is gradually reaching its final stage, the public is anxiously looking forward to who will become the youngest millionaire that will emerge from the 2019 Housemates Salone Reality TV Show.
One can argue that with all the exposure skills and ideas learnt the Housemates are definitely not going to same as they were before entering the House. Definitely, they will be transformed individuals behavior wise, outlook and in terms of having new contacts.
It was reliably learnt that after 2019 Housemates Salone Reality TV Show ends, the leaders in media and communication, the Africa Young Voices (AYV) Media Empire and Africell Lintel Sierra Leone will be launching another bigger competition to be known as Celebrity Housemate Salone 2019 (CHMSL). Le300 Million will be at stake for this next show that will be championed by the two communications giants.
It is indeed an established fact that Africell and AYV are seriously bent on providing empowerment for young people from different backgrounds in the country.

NP-SL Ltd Keeps Shining Steadily

NP Headquarters

When we talk of successful indigenous companies that are operating within Sierra Leone, the National Petroleum Sierra Leone Limited definitely falls among the top in the hierarchy.
Without making no secret about it, the fine managerial initiatives injected from time to time are all geared towards taking NP to higher heights and form one of the pillars why the company continues to occupy a prominent position, an outstanding posture and is laudably making admirable inroads within the business world both within the country and in the other four West African countries where it is currently functioning.
It is quite indisputable that the company has stood the test of time and weathered many storms which could have hampered its very survival. History can attest to the fact that there have been previous indigenous companies that were established either by sole proprietors or group of individuals but soon collapsed as a result of managerial incompetence, lack of dedication, commitment or because of acts of misappropriation. NP has been an exceptional case with an humble beginning by 35 former workers of British Petroleum (BP) who decided to put together their end of service benefits and used such as seed capital to establish what is today known as the National Petroleum Sierra Leone Limited. Sheer commitments, dedication, passion on the part of the shareholders and Management have all contributed to put the company on a higher pedestal.
Today, the company has vibrant branches in neighboring Guinea, Liberia, in Ivory Coast and The Gambia providing job opportunities for indigenes in all these countries as well as occupying a position as one of biggest taxpayers to the Governments in those countries. In doing all these NP has been contributing greatly towards poverty alleviation.
This indigenous company is indeed held in high esteem for customer care, an initiative which is strongly held very significant because customer satisfaction is deemed paramount in all business transactions. Concerns raised by customers are keenly considered and help to shape future decisions that keep making the company more vibrant and relevant.
Besides, dealing primarily in petroleum products NP is also marketing safer gas cookers that are very convenient for various cooking purposes. Many have rated it as one of the best and easy to deal with for both domestic and business cooking use. When we take into consideration the health hazards that are posed by using charcoal and the environmental deforestation caused by cutting down trees then using an NP Gas Cooker is advisable.
One admirable quality that NP-SL Ltd possesses is working tirelessly and effectively using its contacts with oil producing countries in order to ensure that there is timely purchase and delivery of petroleum products to avoid shortages. It goes without saying that fuel, for example, could be a political commodity in the sense that fluctuation in its price would make a Government likeable or unpopular. When the price goes up then people blame the Government for that but if it goes down it is kudos for the political administration.
Its timely importation of petroleum products has earned NP high commendations from various quarters simply because it helps to cushion unrest and other forms of disadvantageous effects one of which is increase in transport fares, increase in the prices of certain commodities. The pro-activeness of the company invariably has a direct impact on poverty reduction in variable ways.
In terms of making full use of the Local Content, which by law is a Policy, then NP-SL Ltd stands tall within that realm as nearly all its members of staff in this country are Sierra Leoneans as well as indigenes in the other countries it is operating which is so good since it is indeed an engine of growth.
Without mincing the truth it is undeniably factual that the relevance of NP to economic development is indeed very positive and tremendous.

LAB to cement Post-Election Divisions in communities

As part of the post-election campaign coupled with being one of the lead agencies in implementing Goal 16 of the Sustainable Development Goals (SDGS), the Legal Aid Board and partners have met with community and civil society leaders in the Western Area to look at issues undermining peace and cohesion in communities following the March 2018 Elections.
To discuss and explore solutions to these issues, the Board met with five hundred and twenty (520) Community and Civil Society Leaders at the Atlantic Hall, National Stadium in Freetown on the 4 April 2019.
The participants were drawn from over 30 Community Based and Civil Society Organizations including Ataya Base Union, Traders Council, Disabled Groups, Car Wash, National Bakers Union, Orjeh Council, Hair Dressers Union, Fishermen’s Union, Ordaelay, Stone Miners, Union of Artist and Vehicle Maintenance Association.
The meeting is the first in a series to be held across the country to complement these efforts. The meetings are intended to have the community leaders to take the lead in reconciling their members and promoting peaceful coexistence.
Prior to and after the March 2018 Elections, the Board has been addressing elections related disputes through its Alternative Dispute Resolution, community and school outreach programmes.
‘We should not allow the politicians to divide us. This is why you should reconcile with those on the opposite side and focus on developing yourselves, your family, community and country,’ The Executive Director of the Legal Aid Board, Ms. Fatmata Claire Carlton-Hanciles said by way of setting the tone for the meetings.
Ms. Carlton-Hanciles said the Board is aware the elections divided spouses, families, friends, organizations and communities. ‘We see evidence of this on a daily bases in our offices across the country and this is why we have called this meeting for you to know that belonging to a political party of your choice is a right and nobody should be denied that right regardless of status in the family or community,’ she stressed. ‘It is perfectly normal for husband and wife to belong to different political parties of their choice and this should not be a life and death affair,’ she added.
Ms. Carlton-Hanciles told the participants that they know the issues dividing their respective communities and organizations and therefore better placed to handle them before they get out of proportion. She said the elections are over as such winners and losers should embrace each other.
Ms. Carlton-Hanciles had a strong message for fathers and men who have abdicated their obligations because their wives or partners belong to a different political party from theirs. ‘You cannot use this as an excuse not to pay child or wife maintenance,’ she said. ‘This is why, I would like you to know that we have a Chief Justice who is defence minded and therefore stands ready to give the Board all the support to ensure these men take their responsibility seriously.’
Ms. Carlton-Hanciles said sexual penetration is now a national emergency which demands collective action to put a stop to it. ‘It is not an excuse to claim you do not know the age of the child,’ she warned.
The Minister of Political Affairs, Foday Yumkella said there are lots of examples to copy regarding political tolerance. He said his relationship with his younger brother Dr. Kandeh Yumkella is cordial even though he did not support him in the Presidential Election last year.
Also, the relationship between President Bio and Dr. Kandeh Yumkella is cordial. He added that the President Bio included Dr. Yumkella in his entourage for the inauguration of President Macky Sall of Senegal.
He said despite the heated and sometimes acrimonious debates in the well of Parliament, Parliamentarians are civil to each other or even friends outside the well. He noted that elections always bring differences but they should not break down families and homes. ‘The problem we have is that some people have their differences but wait until there are elections to settle scores,’ he said.
He spoke on the efforts by government to unite the country. He said the government will be organizing a national conference, Bintumani Three in a few months’ time to promote national cohesion.
He added that government scholarships are awarded to students who have the grades and not based on connections. Also. the government is ensuring the law works for everybody regardless of status.
The Executive Director of the Center for Human Rights and Development International (CHRDI), Abdul Fatorma underscored the importance of access to justice, noting that without access to justice, we will not be able to hold politicians to account. Also, there will be no peace without access to justice.
He lauded the Legal Aid Board for following up on a report his organization published in 2016 regarding 187 inmates in prisons without indictments and ensuring that indictments were served on hundreds of inmates. He lamented that some of the inmates had spent over seven years in detention for stealing items like mobile phones.
He called on the government to support the Board to be able to build on its successes.
Mr. Fatorma said there is no point killing opponents because of political difference, noting that politicians will come and go. He stressed the role of chiefs and traditional leaders in ensuring peaceful coexistence. ‘When we are divided, we will not be able to hold politicians to account or agitate for what is due us,’ he said.
The President of the Temne Council, Issa Catco Kamara, called on politicians to seek the views of ordinary people on national issues. He noted that everybody has a role to play in the development of the country. He added that people should love the country by contributing to its development.
Other speakers include the President of the Sierra Leone Labour Congress, Mr. Jennnings Wright, the Coordinator of Civil Society Movement – Sierra Leone, Ms. Juliet Anderson, Head of the Community Relations Department for the Sierra Leone Police, Assistant Superintendent of Police, Hawa Momoh and the Mende Tribal Headman, Andrew Gibao Young.
The meeting was climaxed with questions and contributions from participants which bother on friction between village head and tribal headmen, access to justice for victims of domestic violence, land disputes, election of tribal head for the Kru Community and increase in crime rate in Waterloo among others.

Premier League Board Disburses Le50 Million Each to 13 Teams

Sierra Leone Premier Board (SLPB) Chairman Emmanuel Saffa Abdulai

The Premier League Board (PLB) has informed the public, by extension fervent followers of the ongoing Sierra Leone Premier League (SLPL) ,that having fulfilled its disbursement of fifty Million Leones (Le 50, 000,000) subsidies to the thirteen (13) participating clubs during the start of the first round, the PLB however, is delighted to make it known that, since Monday, 8th April, 2019 it started disbursing the remaining Fifty Million Leones (Le 50,000,000) subsidies to all the clubs involve.

The Board is committed to ensuring transparency and accountability, and it is also asking all clubs to make returns of the first instalment paid to them backed-up with a credible financial report.

In view of the aforementioned, all clubs were requested to tender these reports within the next working days so as to be able to get quick access to the next reimbursement.

The Premier League Board as always is assuring a transparent and accountable Premier League for the general good.

US$ 39.6 Million World Bank Support to Sierra Leone

The Government of Sierra Leone received the sum of US$ 39,670,774.19 on Friday 5th April, 2019, as direct budget support from the World Bank under the Productivity and Transparency Support Grant Programme. The Leones equivalent of this disbursement of Le 341.6 billion has been credited into the Consolidated Revenue Fund held at the Bank of Sierra Leone.

The disbursement was made possible as a result of Government’s accomplishments in fiscal consolidation to stabilize the economy and the implementation of policy reforms in Agriculture, Fisheries, Energy, Education, and as well as strengthen the fight against Corruption.
The initial budget support amount from the World Bank was US$ 20 Million loan; but this was increased to US$ 40 Million (equivalent) and converted into a grant due to the impressive performance of Government.

The Executive Board of the World Bank approved this Support Programme on the 19th March 2019 followed by the signing of the financing agreement between the Minister of Finance and the Bank’s Country Manager on the 21st March, 2019.

This support will help Government to meet critical pro-poor expenditures in education, health and other statutory payments.

ACC AND FIU SIGN MOU TO DEEPEN FIGHT AGAINST CORRUPTION

The Anti-Corruption Commission (ACC) and the Financial Intelligence Unit (FIU) have signed a memorandum of understanding (MoU) aimed at strengthening the fight against financial and economic crimes in Sierra Leone.

The signing ceremony took place on Monday 8th April, 2019 at the Conference Room of the ACC in Freetown.

Making a brief statement at the ceremony, the Commissioner of the ACC Francis Ben Kaifala Esq. said, economic and financial crimes are responsible for the poor economic state of the country, adding that there is need for this kind of synergy to strengthen the fight against such crimes and general acts of corruption.

The ACC Commissioner said the Commission is pleased to formalize the collaboration with the FIU and ready to partner with any institution that would help bring about a robust fight against corruption and other economic crimes.

The Director of FIU, Mohamed Kenewui Konneh, said he has been identifying institutions that would add value to the work of the FIU and was quick to single out the ACC as an institution that would make their work better. He said, with the kind of zest the ACC is showing in the fight against corruption, the partnership by the two institutions will produce the desired results.

The Deputy Commissioner of the ACC Shollay Davies, while earlier welcoming the Team from the FIU said, the MoU is meant to tighten the relationship between the two institutions. He made reference to Section 52 of the Anti-Corruption Act, 2008, which provides for the ACC to investigate matters relating to the transfer of illicit wealth.

The FIU Team was accompanied by a Team from the Department of Treasury in the United States of America.
Christine Wondra, Economic Crimes Advisor, Office of Technical Assistance of the Department of Treasury said the political will has been inspiring and that is why they are in the country to provide technical assistance to combat cases of money laundering and other economic crimes.

The Director of Public Education and Outreach, ACC, Patrick Sandi, read the citation of the MoU, which, among other things, provides for the two institutions to “assemble, develop and analyse information in their possession concerning financial transactions suspected of being related to corruption, money laundering, terrorist financing or related unlawful activities with a view to disseminating same in a manner consistent with the terms of this Memorandum.”

Pres. Bio Receives UAE Investors

His Excellency President Julius Maada Bio has received a high-level official delegation from the United Arab Emirates, UAE, a follow-up to his visit last month to the Arabian Peninsula nation.

The President of UAE, Khalifa bin Zayed Al Nahyan, had urged investors to visit Sierra Leone, the natural resource-rich West African nation that was looking for genuine businesses to take advantage of the opportunities presented by the New Direction government.

Welcoming the delegation, which included public and private investors, Chief Minister Professor David Francis told the potential investors that the country was an emerging destination of choice for Africa and other developed countries. He added that under the leadership of President Bio the government would ensure that all investors and their investments were protected.

“We are proud of the bold steps and your initiative of coming to our beloved country to invest. Sierra Leone has been ranked as the third most peaceful country in the world. This will be backed up with the political will to ensure that you are not only protected but your investments were also secure,” he assured.

Professor Francis noted that he wanted those investors to be part of the drive to transform Sierra Leone, thereby turning the country’s challenges into a unique opportunity.

Head of the delegation, His Excellency Sultan Al Shamsi, who is the Currently, Assistant Minister of Foreign Affairs and International Cooperation for International Development Affairs said he was happy to visit Sierra Leone and to bring along investors to explore possible investment potentials in the private and public sectors. He said that key areas of interest would be agriculture, education, energy, health, women’s empowerment through job creation and the empowerment of small and medium-sized enterprises.

“It is very promising and important coming here to Sierra Leone to partner with the government and find ways the two countries can make investment better. One thing that is important and fundamental here is the commitment by the government to protect investors and their investments,” he said.

While responding, President Julius Maada Bio welcomed and thanked the delegation from the UAE for their time and effort to come to Sierra Leone to discuss business.

“When we last visited the UAE in search of investment opportunities, Khalifa Bin Zayed Al Nahyan, President of the UAE assured me that he would send a delegation to Sierra Leone for this said purpose. I didn’t expect it to happen soonest. On behalf of the people of Sierra Leone, I welcome you here and I pray that your engagements will be fruitful,” he told the delegation.

President Bio also told the meeting that the country was looking for credible investors who would explore the many opportunities of the country through their various interests and assured of their protection.

SMHL-Vimetco Signs Multi-Million Dollar Project

Sierra Mineral Holdings 1 Limited (Vimetco), a bauxite mining company in Moyamba, held several meetings with Ministry of Finance and Ministry of Mines in Freetown during the first week of April 2019 regarding the company’s plan of expansion with the construction of alumina tri hydrate plant. Except production of Aluminium, alumina tri-hydrate is also widely used in refractory industry, ceramics industry, for water purification, serves as flame retardant filler and as polishing compound, etc. The construction of such plant equipped with modern technology will be the first in the development of the mining industry in the country and a unique industrial facility in West Africa.

Sierra Mineral Holdings 1 Limited initiative will be supported by Pan-African bank of development, Afreximbank, whose delegates also participated in meetings with above-mentioned Ministries.

On the 4th April 2019, His Excellency Retired Brigadier Julius Maada Bio, the President of Sierra Leone held a working meeting with the management of Sierra Mineral Holdings 1 Limited and delegates of Afreximbank, where details of the project were presented. The initiative of the aforementioned project was welcomed by The President.

Sierra Leone Commercial Bank MD Dilates on Achievements

Fidelis Turay

Fidelis Turay, the Managing Director of Sierra Leone Commercial Bank, speaking on Friday 29th March, 2019 at the launching of another of the Bank’s rebranding digital products, broke the news about the strides that SLCB is taking towards achieving the Bank of Sierra Leone’s goal of increased financial inclusion in the country.
He registered SLCB’s commitment towards expanding its markets and services to various parts of our nation, as well as ensuring that SLCB maintains its posture as one of the leaders in the financial industry in Sierra Leone.
Acknowledging that much work remains to be done towards increasing financial inclusion in the country, he reported that in that direction, in 2013, SLCB had on its books a total of 137,945 registered active account holders.
In 2014, IT added another 7,207 registered account holders to the mix bringing the total to 145,152 which is roughly 5.22% growth.
In 2015, 7,013 new accounts were registered, bringing the total to 152,165 about 4.8% growth.
In 2016, SLCB saw significant growth due to bold initiatives that management took to embrace Financial Technologies or FINTECH strategies to further boost growth levels. An increase of 13,427 new accounts was realized bringing the total up to 165,592 or about 8.8% almost doubling the growth of the previous year.
In 2017, SLCB had another growth of 7,210 or about 4.4% to a total of 172,802.
In 2018, it recorded its biggest growth since 2013 of 21.088 or about 12.2% to a total registered number of accounts to 193,810.
During the first two months of 2019, SLCB has already seen a growth of about 2.5% or 4,776 registered accounts bringing our total to date to 198,586 accounts.
Fidilis Turay maintained that in the quest for higher heights, SLCB do not rest on their laurels.
“We achieve one standard,” he said, “and immediately set new standards for ourselves and then get to work to make it happen.”
The event saw the unveiling of three new products in the Bank’s digital banking suite that MD Fidilis Turay said they are “confident will propel our growth to even higher levels and position SLCB as one of the great contributors to the financial inclusion agenda.”
He added that with these products aimed to meet both individual customers’ and their corporate customers’ needs; he firmly believe that the convenience and ease of doing banking that these products will afford their customers are going to be second to none in the industry.
The products are as follows:
1. MI YONE ONLINE BANKING- A very easy to use and very convenient banking application that runs on any mobile device including laptops and desktop computers to bring the convenience of our banking services wherever you are.
2. MI YONE MOBILE APP – is an application that can be downloaded by any SLCB customers with a smart phone or tablet on to their mobile device, for both the android or apple platforms. The application provides a host of capabilities that customers can then use the convenience of their fingertips to access many of our banking services. Again, they can do all of these from the comfort of their home/office or anywhere in the world 24 hours a day, 7 days a week.
3. WI YONE ONLINE DIRECT – This is for SLCB’s corporate customers. This application allows them to pay their employees, salary advance and other banking functions relevant to any business organization.
These products, MD Fidilis Turay noted will expand financial services to the non-formal sectors of the economy through automation and electronic forms of intermediation and hence address the low level of financial inclusion and in the process also raise domestic revenue.
Meanwhile, SLCB’s earlier launched MI YONE TELLER (the personal mobile banking agent) and the MI YONE KIOSK (banking in a box) are still available and running very strong to reach even more people.
Profile of the new SLCB MD
Abdulai Fidelis Turay was born on 29th January 1964. He is married with three children. Fidel, as he is popularly known, holds an MBA in Finance from University of Leicester in the United Kingdom and is an alumni of Leicester Business School.
He holds a Bachelor of Science in Economics from Fourah Bay College, and has attended a number of professional development training courses and seminars in the banking industry at institutions in South Africa, Ghana, Nigeria, Morocco, Zambia, Cote D’Ivoire, and in country.
At FBC, he started his banking career with Meridien BIAO SL Ltd in 1990 and rose to the position of Assistant Manager – Credit and Marketing/Credit and Recoveries Department.
He moved on to rise through the ranks at Union Trust Bank to become Credit Administration & Risk Management, a portfolio he held for several years.
He broadened his banking experience at UTB heading banking operations, credit administration, marketing and business development, administration and personnel, internal control, project financing, risk management and corporate banking, besides special duties, leading to being in charge of setting up UTB’s branches in the provinces and greater Freetown.
Until his appointment at SLCB, he served as Assistant Director at UTB.
When UTB celebrated its 20th Anniversary, he was honoured for his exemplary service and referred to as the bank’s institutional memory.
UTB, received his resignation with “sincere mixed feelings” whilst acknowledging how he served the bank “faithfully and diligently” for the longest part of his professional life.
“Change is an integral part of professional life; in your case it is both lateral and upward, for which we all have ample reasons to celebrate,” the employer concluded.
A former colleague at UTB described Fidel is as “cool as cucumber” who cares for stability.