Sudan has raised its pledge to the African Development Fund (ADF), committing $3 million to support the Fund’s 17th replenishment. Sudan’s Finance Minister, Dr. Gebreil Ibrahim Mohamed Fediel, announced the contribution at the World Bank-IMF annual meetings in Washington, joining finance leaders from The Gambia, Liberia, Sierra Leone, and AfDB President Akinwumi Adesina. The Gambia,…
Sierra Leone has taken a significant step on the global financial stage, earning an alternate position on the Development Committee of the World Bank Africa Group One Constituency at a recent statutory meeting in Washington D.C. The gathering brought together finance leaders across Africa to discuss pressing economic policies. Representing Sierra Leone, Minister of Finance…
Guaranty Trust Bank (GTBank) Sierra Leone marked Customer Service Week from October 14 to 18 with various activities to honor and appreciate its valued customers. The week-long celebration showcased the bank’s commitment to exceptional service and fostering strong community relationships. The festivities began with a Career Day, where staff wore outfits representing diverse professions, symbolizing…
Sierra Leone’s Deputy Minister of Basic and Senior Secondary Education, Madam Mamusu Patricia Komeh-Massaquoi, addressed the Regional Data and Community Development Forum in Sharjah, UAE, emphasizing the government’s commitment to enhancing human capital through education. At the inaugural forum, which focused on data-driven sustainable community development under the patronage of His Highness Sheikh Dr. Sultan…
The African Continental Free Trade Area (AfCFTA) stands as the world’s largest free trade agreement by number of participating countries, territory, and population. With 54 of the 55 African Union member states signed on, it encompasses a market of 1.3 billion people and a collective GDP of $3.4 trillion. The AfCFTA aims to enhance economic…
The World Bank Group has delivered a record $42.6 billion in climate finance for fiscal year 2024, reflecting a 10% increase from the previous year. These funds, allocated from July 1, 2023, to June 30, 2024, support global projects aimed at tackling climate change, advancing clean energy, strengthening communities, and boosting economies worldwide. This historic…
Indian exporters are facing uncertainty as the mpox outbreak threatens trade with Africa, a key market for Indian goods, particularly crude oil and pharmaceuticals, reports Maritime Gateway. Though the spread is currently contained, exporters remain cautious about potential escalation. Ajay Sahai, Director General of FIEO, emphasized the need for vigilance, noting that there have been…
Sierra Leone’s domestic revenue saw a steep decline in July 2024, according to the latest Fiscal Report from the Accountant General’s Department. Total revenue for the month dropped to SLe 1.18 billion, a sharp reduction of SLe 481.63 million (29.1%) from June’s SLe 1.66 billion. Key areas of decline included Income, Profits & Capital Gains…
Deputy Minister of Trade and Industry, Fatmata Kargbo, made a significant announcement during the unveiling of the One Village Partners Savings and Agri-Business Cooperative Conglomerate in Kono District. This milestone event, held on August 17, 2024, marks a major advance in the district’s efforts to stimulate economic growth and bolster agricultural development. Addressing an audience…
Facing public calls to resign, President Ruto announced the government’s plan to cut a $2.7 billion budget deficit by half and borrow the rest, though he did not specify the sources of the borrowing. In response to anger over the bloated bureaucracy and the luxurious lifestyles of senior officials, Ruto has promised funding cuts in…