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ARISE IIP’s Special Industrial Zone Ongoing Construction Project Showcased in Media Tour

By Foday Moriba Conteh

In an unprecedented move towards Sierra Leone’s industrialization, His Excellency President Julius Maada Bio, in April 2023, laid the foundation for the groundbreaking Special Koya Industrial Zone (SIZ-Koya) in Koya Chiefdom, Port Loko District. This visionary endeavour, a collaboration between Sierra Leone and ARISE Integrated Industrial Platforms (ARISE IIP), is set to span an impressive 1,500 hectares and is marked by a steadfast commitment to environmental sustainability, including the implementation of a 100-megawatt solar power system.

Fast forward to September 2023, ARISE IIP initiated a monumental infrastructure development project, aligning perfectly with President Bio’s vision for industrialization in the country. To keep the public and stakeholders informed about this significant initiative, ARISE IIP organized an exclusive media tour of the Special Koya Industrial Zone (SIZ-Koya) on Friday, October 20, 2023.

The media tour featured journalists from various media outlets across the nation, offering them a firsthand look at the impressive progress of the Koya Industrial Zone, providing essential insights into Sierra Leone’s ongoing industrialization journey.

ARISE Integrated Industrial Platforms (ARISE IIP) has commenced the construction of a multimillion-dollar sustainable development project, which encompasses extensive industrial manufacturing, railway networks and the creation of job opportunities, all of which will contribute to the nation’s economic growth strategy.

This ongoing construction work is a pivotal part of the project which was launched by President Julius Maada Bio on April 26, 2023, represents a cornerstone in the Special Koya Industrial Zone (SIZ-Koya). The SIZ project forms an integral component of the comprehensive ARISE IIP investment of US$1.2 billion, aim at boosting Sierra Leone’s economy. This massive investment, connected to rail and ports, is anticipated to generate over 34,000 jobs in the country.

ARISE IIP, a globally renowned developer and operator of industrial ecosystems throughout Africa, is partnering with the Republic of Sierra Leone to build the SIZ-Koya industrial zone. This endeavour aligns with ARISE IIP’s mission to unlock Africa’s industrial potential and bolster Sierra Leone’s industrialization agenda.

Demonstration of their commitment to transparency and public awareness, formed part of the rationale why ARISE IIP organized the guided tour of the Koya Industrial Zone, welcoming journalists, community stakeholders and leading experts. The delegation was greeted by Paramount Chief Sorie Bomboli Kanu of Koya Chiefdom, Port Loko District, as they delved into the ongoing infrastructure development within the Special Koya Industrial Zone.

Community stakeholders, predominantly local residents, expressed their enthusiasm for the employment opportunities and the positive impact the investment will have on the country’s development plans.

Paramount Chief Bai Bompa Komboli III extended his gratitude to President Bio for his role in facilitating this transformative project and commended the efforts of ARISE IIP and its Local Partner, Amb. Anthony Navo Jr.

The Paramount Chief highlighted the positive impact of the Project on employment opportunities and the reduction of crime rates in the community: ‘’We want to thank the Government and ARISE IIP for this initiative. At first I was kind of worried but when I consider the strategic location of our chiefdom – sharing boundaries with the South, East, North and West I felt it is a great project for our people and the entire country. I welcome this project as it would provide jobs for my people, especially for the youth. The project will reduce crime rate and unemployment. I thank President Bio for the opportunity presented to our country.’’

ARISE’s Local Partner, Amb. Anthony Navo Jr., described the project as a beacon of hope for Sierra Leone and a realization of President Bio’s commitment to job creation, investment, and sustainable development.

Amb. Anthony Navo Jr stated: “The Project aims to stimulate local production, reduce dependency on imports and create various factories, including a pharmaceutical facility, rice meal factory, tile production, paint manufacturing and a power plant to provide electricity to the Industrial Zone and the community. The ultimate goal is import substitution where goods are produced locally and made available for sale both domestically and abroad.”

Experts estimate that the first phase of the project, costing approximately $410 million, will incorporate over 40 factories and generate approximately 34,000 job opportunities within 24 months. As the project progresses into subsequent phases, employment opportunities are expected to multiply, highlighting the vital role of collaborative efforts in bringing this project to fruition.

The Environmental Social Governance Manager at ARISE IIP Sierra Leone, Shruthi James, emphasized the company’s dedication to international environmental and social standards, including ongoing initiatives such as mangrove conservation in collaboration with the Environmental Protection Agency. She highlighted the completion of ARISE’s IIP’s Environmental and Social Impact Assessment (ESIA) and efforts to conduct an additional ESIA in accordance with International Finance Cooperation standards. These endeavours aligned with Government’s support, aim to meet international standards in environmental and social aspects.

Santosh Goham, the Construction Manager of ARISE IIP, showcased the potential of ARISE IIP’s investments in creating a robust and sustainable economy for Sierra Leone and its local communities. He led the delegation on a tour of a boundary wall covering 150 acres, a significant milestone in the project that will feature international-standard infrastructure, including roads, water and electricity supply systems, storage and warehouse facilities, and a logistic Inland Container Depot in collaboration with the Freetown Port Authority.

In an additional development, ARISE Integrated Industrial Platforms (ARISE IIP) has announced the forthcoming arrival of Passenger Railcars, part of a broader strategy to revitalize the mining sector and boost economic activities.

ARISE IIP has experienced remarkable expansion across more than a dozen African countries in recent years, creating industrial ecosystems that prioritize local value addition and sustainable growth. The Special Koya Industrial Zone project signifies a crucial step towards Sierra Leone’s industrialization, underlining the importance of collaborative efforts and environmentally responsible practices.

ARISE IIP is committed to creating job opportunities, empowering local communities and promoting economic growth through industrial development. Their partnership with the Republic of Sierra Leone exemplifies their commitment to making a positive impact in Africa and fostering a sustainable and prosperous future for the nation and its people.

Parliament Ratifies 28.2 MW Betmai Hydro-Power Agreement

In a momentous session on Thursday, October 19, 2023, the Parliament of Sierra Leone, with unanimous support, ratified the amended 28.2MW Betmai Hydro Electric Power Project agreement that will be developed along the Pampana River. This vital project promises to usher in a new era of enhanced electricity supply for our beloved country.

The Parliament’s enthusiastic endorsement of the agreement marks a significant stride in Sierra Leone’s journey towards energy security. The agreement comprises the 28.2MW Betmai Hydro Electric Power Project, a locally-owned venture by Sierra Leoneans, and it is set to make an enduring impact on the nation’s energy landscape.

Deputy Energy Minister, Eldred Taylor, presented the agreement before Parliament for debate and ratification. He emphasized that the Ministry of Energy, in collaboration with the Ministry of Finance, the Ministry of Justice, and the Electricity Distribution and Supply Authority, engaged in extensive negotiations to bring this 28.2MW hydro project to fruition. This project is situated within the Tonkolili district and operates under a build-operate-and-transfer model with a twenty-five-year concession agreement, which with the right distribution network has the potential to provide electricity access to about 2 million people in rural areas.

Crucially, the Betmai Power plant will connect to the CLSG Transmission Lines with its independent power source, thereby enhancing the infrastructural development of an energy-self-sufficient nation. The project’s significance is underscored by its potential to provide energy security to the nation and facilitate the technical integration of the West African power energy distribution system.

Minister Taylor also highlighted the project’s potential to generate employment opportunities, estimating that it will create more than two thousand jobs during the construction phase. Once completed, it will complement the Bumbuna Hydro power supply, offering an affordable tariff. The project is expected to catalyze development in the eastern part of Sierra Leone, further addressing the diverse electricity supply needs of the country.

The Government’s commitment to partnership with the private sector for State development was reiterated, affirming the open-door policy and the dedication to progress.

Parliamentary Chairperson on Energy, Hon. Kerikura Vandy, expressed gratitude to the Speaker of Parliament for guiding him as Chairman on energy-related matters. He emphasized that the agreement holds the promise of affordability, considering the low tariff it would bring. He lauded the Project’s twenty-five-year concession and the tangible benefits it will bring, especially by generating electricity supply for the country. In his words, the project represents an opportunity to enhance the electricity supply for the nation at an affordable cost.

The dynamic Chairman called upon his colleagues and Members of Parliament to stand behind this transformative project, underscoring that it is a non-controversial initiative with enormous potential to positively impact Sierra Leone’s energy landscape.

Sierra Leone is on the cusp of a significant breakthrough in its pursuit of energy security, thanks to the ratification of the 28.2MW Betmai Hydro Electric Power project. As the nation moves forward, the commitment to sustainable development and energy security remains resolute.

Government Engages Local Manufacturers, Pledges Support for Local Manufacturing Industries

By Amin Kef (Ranger)

In a highly anticipated engagement meeting held on Friday 20th October, the Minister of Finance, Sheku Ahmed Fantamadi Bangura, and his team of Government officials met with representatives from the Sierra Leone Association of Local Manufacturers (SLAM) to address concerns over a proposed draft bill that could have had detrimental effects on local manufacturing companies.

The proposed bill, which aimed to increase tax incentives for local producers as compared to importers, had raised significant alarm among members of SLAM who feared its potential impact on their operations and survival. Local manufacturers, who play a vital role in providing direct employment opportunities to Sierra Leoneans, supporting the country’s GDP, paying substantial taxes to the Government and contributing to community development, were apprehensive about the potential consequences of such legislation.

However, the Minister of Finance reassured the local manufacturers during the engagement meeting that the Government would not allow the bill to become law. He emphasized that the Government is committed to protecting local industries and acknowledged the vital role they play in the development of Sierra Leone.

Furthermore, the Minister pledged that going forward, the Government would actively engage with local manufacturers before formulating any laws or policies that could impact their businesses. Stressing the importance of a strong partnership between the Government and the private sector, he emphasized that both entities share a common goal – the advancement of Sierra Leone’s economy.

The assurance and commitment from the Minister of Finance and his team have been met with resounding applause and appreciation from the local manufacturing community. This demonstration of support and partnership has been declared a positive step towards fostering a conducive environment for the growth and sustainability of Sierra Leonean industries.

Indeed, it must be noted that the recent engagement meeting between the Minister of Finance and local manufacturers has provided a glimmer of hope for the Sierra Leonean manufacturing sector. With the Government’s commitment to safeguarding local industries and the promise of continued partnership, the stage has been set for a mutually beneficial relationship that will contribute to the overall progress of Sierra Leone’s economy.

Emerges Top in Leadership Prowess… Superintendent Monica Johnson Hails High in Egypt

It is a widely acknowledged truth that in the realm of leadership only a select few can not only chart the path but also traverse it and illuminate it for others. Superintendent Monica Johnson, a remarkable leader from Sierra Leone, exemplifies this rare quality with grace and finesse.

Superintendent Monica’s exceptional leadership prowess was on full display at the prestigious graduation ceremony held at the International Security Training Centre in Egypt. The event, which unfolded on October 19, 2023, celebrated the accomplishments of 110 participants hailing from 35 African and Commonwealth nations.

This particular occasion marked a high point in Superintendent Monica Johnson’s illustrious career, as she emerged as one of the standout figures in the Leadership Class, securing a coveted spot in the top 5.

Her outstanding academic performance, complemented by her remarkable leadership acumen, played an instrumental role in this significant achievement. Notably, her contributions received accolades not just at a local but at the international level, underlining the global significance of her accomplishments.

The recently concluded International Security Training Program in Egypt has garnered accolades as one of the premier training programs not only in Africa but also among the Commonwealth nations. This event further solidifies Sierra Leone’s reputation for producing outstanding individuals who excel at the national, regional, and international levels.

NP-SL: Pioneering Selflessness and Service Excellence

By Amin Kef (Ranger)

NP Sierra Leone Limited (NP-SL Ltd) stands as an unwavering beacon of exceptional customer service, solidifying its position as the nation’s foremost petroleum marketing entity. This irrefutable fact underscores the company’s unwavering commitment to providing top-tier customer care across its operations.

Over the years, NP-SL Ltd has harnessed a no-nonsense approach to enhance customer satisfaction, driven by the dedication of its shareholders and management. Their tireless efforts aim to optimize customer experiences by offering high-quality petroleum products and cutting-edge services to their valued customers.

As a home-grown enterprise that values its patrons, NP-SL Ltd has consistently pursued the enhancement of customer care. This relentless commitment has earned the company the prestigious reputation of being a leader in customer service.

In this endeavour, the company’s original shareholders, numbering thirty-five, exhibited entrepreneurial wisdom by importing and installing modern calibrated pumping machines at all its Filling Stations. These automated, high-precision machines precisely dispense the requested quantity of fuel, displaying both volume in litres and prices. Customers have attested to the transparency and satisfaction these advanced machines bring compared to their less sophisticated predecessors.

Further underscoring its commitment to customer safety and satisfaction, NP-SL Ltd mandates safety regulations at all its Filling Stations. Customers are cautioned against using open flames are required to switch off mobile phones and must turn off engines while refuelling.

To ensure the timely distribution of fuel to all Filling Stations nationwide, the company maintains a fleet of well-maintained fuel tankers. This proactive approach ensures their roadworthiness and efficient fuel distribution.

NP-SL Ltd maintains an open-door policy, inviting customers to share their concerns and recommendations. These inputs are taken into account when making crucial decisions for the company’s development. This practice not only brings customers closer but also reinforces their sense of relevance and importance to the company.

In an effort to make fuel transactions convenient and hassle-free for their numerous customers, NP-SL Ltd introduced the innovative NP Smart Card. This cashless payment method allows customers to purchase fuel without physical currency. Customers can present the card at any Filling Station, and the desired quantity of fuel is dispensed directly into their vehicle or container. This approach eliminates the need to make frequent trips to the bank for cash withdrawals, as the NP Smart Card is pre-loaded with the required funds, offering both convenience and security.

Recognizing the environmental impact of traditional cooking methods using wood and charcoal, NP-SL Ltd introduced an environmentally friendly alternative – NP Gas. Available in various cylinder sizes, NP Gas offers precision performance and easy refills at all the company’s Filling Stations. Users have praised the convenience and environmental benefits of this cooking solution.

NP-SL Ltd has also distinguished itself by fully embracing the country’s Local Content Policy. The company prioritizes providing employment opportunities to Sierra Leoneans, only resorting to expatriates when local talent is unavailable. This commitment not only benefits employees by enhancing their quality of life but also contributes to national development.

With thriving branches in neighbouring countries such as Guinea, Liberia, Ivory Coast, and The Gambia, NP-SL Ltd exemplifies a serious and socially responsible business entity. The company employs locals and contributes tax revenue to these G overnments, which is then utilized for various development programs.

In essence, NP-SL Ltd stands as a symbol of selflessness and a commitment to service excellence, making Sierra Leoneans proud as it continues to lead the way in petroleum importation and marketing.

Rokel Commercial Bank Thrives Amidst Global Economic Challenges, Reports Le94 Billion Profit

In the face of unprecedented expansion and digitization efforts and a challenging global economic climate, Rokel Commercial Bank has emerged as a financial powerhouse, posting a remarkable profit of Le94 billion (Old Leones) in its 2022 financial statements, according to official approval from the Bank of Sierra Leone. This impressive figure marks a 5.96% increase from the Le88 billion (Old Leones) profit recorded in 2021.

The bank has not only excelled in terms of profit but has also witnessed substantial growth in customer deposits, surging from Le1.7 trillion (Old Leones) in 2021 to Le2.4 trillion (Old Leones) in 2022. Sources hint at a forthcoming announcement of a record-breaking profit of approximately Le200 billion (Old Leones) for the year 2023, demonstrating Rokel Commercial Bank’s resilience in navigating a challenging global economic environment that has had a ripple effect on the local economy.

Rokel Commercial Bank is unwavering in its commitment to becoming Sierra Leone’s premier and most digitally advanced financial institution, as well as a regional leader. The bank currently boasts the largest network of branches and cash points throughout the nation, resulting in a substantial increase in its customer base.

Notably, in September of this year, RCbank introduced a range of cutting-edge Electronic Banking (E-Banking) products and services, including Pre-Paid Cards, Visa Cards, and cardless Automated Teller Machines (ATMs).

Furthermore, plans are underway to extend these user-friendly and highly secure banking cards to other institutions. The bank is also in the final stages of installing an additional 20 ATMs, supplementing its existing 15 across branches and outlets nationwide, thereby achieving the largest ATM network in the history of the Sierra Leonean banking industry.

SLP Officers Excel in Professional Training in Egypt, Strengthening Bilateral Relations

The International Security Training Centre in Egypt on October 19, 2023 celebrated the successful graduation of 110 participants from 32 African and Commonwealth countries, who completed an intensive 8-week training program in various professional disciplines. The ceremony was graced by the Deputy Minister of Interior, also the Principal Head of the Egyptian Police Academy, marking a significant milestone in the participants’ careers.

The four officers from the Sierra Leone Police Force, Superintendent Monica Johnson, Officer Commanding New England Ville Police Station, Superintendent Samuel Saio Conteh, Deputy Head of Community Relations Department at Police Headquarters, Inspector Alieu Mansaray, Media and Community Relations Officer for Congo Cross Division, and Mohamed Teteh Fofanah from the Operations Support Division, showcased exceptional performance during the training. As a result, they were awarded gratification plaques and certificates by the academic and administrative staff of the Egyptian Police Academy.

Following the certification ceremony, these accomplished Sierra Leonean officers had the privilege of meeting with the Plenipotentiary of Sierra Leone to Egypt, Ambassador Sadiq Sillah. Ambassador Sillah expressed his sincere appreciation for the officers’ outstanding performance and their commitment to upholding Sierra Leone’s flag with pride. He commended them for their exemplary dedication to duty.

In addition, Ambassador Sillah acknowledged the significance of the knowledge and skills acquired by the officers during their training. He encouraged them to share and implement these valuable insights within the Sierra Leone Police Force. The graduates expressed their heartfelt gratitude to the Inspector General of Police, Mr. William Fayia Sellu, for his visionary leadership and unwavering commitment to capacity building within the force.

The successful completion of this training program not only exemplifies the dedication of Sierra Leonean Police Officers to professional development and capacity building but also serves to strengthen the bilateral relations between Egypt and Sierra Leone in the field of law enforcement. This accomplishment is a testament to the high standards and commitment displayed by the Sierra Leone Police Force on the international stage.

Daphne Joya Pratt Triumphs in DOFA’s 3rd Miss Old is Gold Beauty Pageant

By Foday Moriba Conteh

In celebration of the International Day of Older Persons, observed each year on October 1st, the Dorwontony Organization for the Aged (DOFA) concluded its grand 3rd edition of the “Miss Old is Gold Beauty Pageant 2023” on Sunday, October 15, 2023. The remarkable event, held at the Freetown City Hall Auditorium on Wallace Johnson Street in Freetown, attracted participants from diverse backgrounds.

This year’s Miss Old is Gold Beauty Pageant featured five inspiring contestants, all aged 60 and above, representing different communities. After a meticulous evaluation by a panel of Judges, Daphne Joya Pratt, representing Miss Mountain Cut, emerged as the shining star and winner of this prestigious beauty pageant. Ina Kamara, Miss Aberdeen, secured the 1st runner-up title, while Salamatu Conteh, Miss Congo Town, earned the 2nd runner-up position. Isatu Bangura, Miss Magazine Cut, took the 4th place, and Mariama Jalloh, Miss Peninsula, claimed the 5th position.

Founder of the Dorwontony Organization for the Aged, Dorren Barrie, expressed that this year’s beauty pageant marked the 3rd edition of “Miss Old is Gold,” an event specially designed for individuals over 60 years old.

She emphasized the importance of commemorating the International Day of Older Persons, which seeks to raise awareness about the challenges faced by the elderly, not only in Sierra Leone but also globally.

Dorren Barrie highlighted that older individuals are often marginalized in Sierra Leone, and DOFA, through initiatives like the Miss Old is Gold Beauty Pageant, has been actively working to change negayive societal perceptions.

She extended her heartfelt appreciation to everyone who contributed to the event’s success, including fashion brands that assisted in preparing the contestants and designing their costumes.

Rev. Father Peter Konteh, Chairman of the Board of Dorwontony Organization for the Aged, emphasized the significant role older people play in society, even during their golden years.

He recognized that caring for the elderly can be challenging, requiring patience, tolerance and resilience, but he commended DOFA’s unwavering commitment to that cause.

He underlined the importance of prioritizing the care of older individuals, a responsibility that should be embraced by individuals, organizations, and Governments worldwide.

Minister of Social Welfare, Melrose Karminty, stated that her Ministry is dedicated to ensuring that older people receive the utmost protection and respect they deserve. She acknowledged the invaluable contributions made by these elderly citizens to nation-building and stressed the importance of recognizing their efforts, especially in their later years.

Melrose Karminty praised DOFA’s continuous support for the elderly and assured the organization of the Ministry’s commitment to aiding older citizens in the country.

Melrose Karminty called for a renewed respect for the elderly, emphasizing that many of society’s problems stem from the loss of the value of respecting older individuals.

The crowning of the winner was carried out by Minister of Social Welfare, Melrose Karminty, and other dignitaries present, marking the conclusion of a meaningful celebration dedicated to honouring older persons and challenging age-related stereotypes in society.

Daphne Joya Pratt, representing Miss Mountain Cut, the deserving winner of this year’s Miss Old is Gold Beauty Pageant, expressed her gratitude to DOFA for providing a platform for individuals like her to showcase their talents, even in their later years.

She called on organizations to continue supporting DOFA, enabling them to reach out and support more elderly citizens across the country, breaking the cycle of neglect and fostering respect and care for older individuals.

SLAJ Lauds Political Dialogue Agreement, Calls on NaTCA to Review Community Radio Stations Licences

The Sierra Leone Association of Journalists (SLAJ) on Friday, 20th October 2023 commended the AU, ECOWAS and the Commonwealth for their successfully mediated political dialogue between the Government of Sierra Leone (GoSL) and the main opposition All People’s Congress (APC) political party, and the Independent Commission for Peace and National Cohesion (ICPN) for steering the process.

SLAJ further congratulated the GoSL and the APC for committing their signatures to the mediation communiqué- the Bintumani Agreement for National Unity, and urged both parties to honour the resolutions in the agreement.

Since the June 24 elections, as highlighted by both local and International Observers, SLAJ has been very critical in providing increased access to credible and factual information about the elections and electoral education for citizens through its UNDP I-Verify and NDI SuperNewsRooms platforms. Members of SLAJ across the country were also trained on conflict-sensitive and election reporting to contribute to peaceful elections, peace-building, and the successful mediation that has been achieved.

In light of this, SLAJ has called on journalists and media houses to continue to play their part in promoting the mediation outcome in line with conflict-sensitive reporting guidelines to prevent fanning the already dying flames of the GoSL-APC impasse.

It stated during consultative meetings with the Mediation Team that SLAJ believes in resolving national issues through consensus building, engagement, consultation, and dialogue and therefore will continue to appeal to the GoSL and the Opposition parties to always collaborate in the interest of the nation and the People of Sierra Leone, uphold democratic good governance best practices, and respect fundamental human rights at all times.

The Association furthered that it looks forward to the GoSL and opposition parties working towards reforming the country’s electoral laws, reviewing the political system to get rid of the divisive winner-takes-all tradition, de-politicising the civil service, MDAs, civil society, the media, and other vital sectors, and making governance an opportunity to serve one’s country rather than one’s political party, family, relatives, and friends.

SLAJ also urges Sierra Leoneans at home and abroad not to give up on their beloved country but to develop a positive mindset of seeing the national glass half-full and support genuinely to fill it so that every Sierra Leonean, irrespective of allegiance and status, will drink from it.

In another development, the Sierra Leone Association of Journalists (SLAJ) held a crucial meeting with the National Telecommunications Authority (NatCA) to make a compelling case for the reduction of license fees for community radio stations.

SLAJ President, Ahmed Sahid Nasralla, emphasized the vital role of community radio stations in disseminating Government activities, encouraging citizens’ involvement in governance and called on Government to support them given the country’s current challenging economic circumstances, which have severely impacted their operational costs.

“Economically, we are going through an exceptionally challenging period in our nation’s history, and the media sector is significantly affected. Community radio stations, in particular, struggle to maintain their daily broadcasts. They operate with limited financial resources and often lack proper governance structures. Because of the crucial role they play in providing information to remote communities, we have been engaging with the Government to support these stations. For NatCA, the starting point can be reducing their license fees and de-linking them from the U.S. dollar,” Nasralla stated during a courtesy meeting held on October 18, 2023.

In response, the new Director General of NatCA, Amara Brewah, expressed his gratitude for SLAJ’s visit and assured the delegation that NatCA would examine the issues raised. However, Brewah noted that NatCA must also consider generating revenue as an authority when reviewing license fees.

On the relationship between NatCA and IMC, Brewah affirmed that they enjoy a positive and professional collaboration and plan to continue periodic meetings.

However, he expressed reservations about completely de-linking broadcast license fees from the U.S. dollar due to the depreciating status of the Leone against the dollar.

The meeting marked a significant step in addressing the challenges faced by community radio stations in Sierra Leone, and the dialogue between SLAJ and NatCA is expected to continue as both parties work towards a solution.

Fraud Investigation Unveiled at Standard Chartered Bank

In a shocking turn of events, Standard Chartered Bank Sierra Leone (SL) LTD finds itself embroiled in a major fraud investigation as allegations of fuel theft have surfaced. This scandal is currently under scrutiny by both law enforcement authorities and the bank’s Security and Investigation Services (SIS) Team. The magnitude of the fraud is not only striking due to the significant quantities and values involved but also because of the alleged senior-level approvals for procurement processes, which typically should have raised red flags.

The revelation of this fraud has raised questions about how such a breach could occur at an institution that has consistently prided itself on operating within a well-controlled and compliant environment. Standard Chartered Bank SL has long been known for its rigorous financial oversight and risk management practices.

Notably, this development comes in the wake of a High Court of Sierra Leone directive that required the bank to set aside over $5 million as collateral to meet end-of-service and redundancy benefit claims for 51 employees who have dedicated a significant portion of their careers to the bank. With this recent scandal unfolding under the watch of Yetunde Oni, the CEO of Standard Chartered Bank Sierra Leone (SL) Ltd, concerns are growing about the bank’s ability to meet the legitimate claims of employees facing redundancy.

As this investigation continues to develop, the media will closely monitor the situation and keep the public informed of any new developments in this evolving scandal.

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