Economy & Business

Audit unmasks Zoodlabs’ $1.44 million fraud

Mackie M. Jalloh: Sierra Leone Telegraph: 21 December 2024: In a startling revelation that underscores the negligence and recklessness plaguing public-private partnerships in Sierra Leone, the 2023 Audit Report has laid bare the blatant non-compliance of Zoodlabs (SL) Ltd. with critical contractual obligations. The report highlights the company’s failure to [Read More]

Economy & Business

The Millennium Challenge Corporation (MCC) selects Liberia as eligible for new partnership

Sierra Leone Telegraph: 21 December 2024: The Millennium Challenge Corporation (MCC) has announced that it has selected Liberia as newly eligible to develop a compact. According to the published statement, Liberia was selected as eligible in recognition of the country’s commitment to pursuing critical economic and democratic governance reforms. “MCC [Read More]

Economy & Business

World Bank supports Sierra Leone with $80 Million to enhance macroeconomic stability and resilience

Sierra Leone Telegraph: 16 December 2024: The World Bank Board of Executive Directors last Friday, approved an $80 million financing package to support Sierra Leone’s efforts to restore macro-fiscal stability and strengthen economic resilience. This financing includes a $60 million International Development Association (IDA) grant as budget support, and an [Read More]

Economy & Business

OPEC Fund for International Development (OPEC Fund) approves close to US$1 billion in new development finance

Sierra Leone Telegraph: 12 December 2924: The OPEC Fund for International Development (OPEC Fund) (www.OPECFund.org) has approved close to US$1 billion in new development financing over the last quarter of 2024, including during its 190th Governing Board meeting in Vienna on Tuesday. These projects will benefit countries across the globe [Read More]

Economy & Business

Nigeria’s Special Agro-industrial Processing Zones receives $2.2 billion investment boost

Sierra Leone Telegraph: 12 December 2024: The African Development Bank Group has facilitated $2.2 billion in capital mobilization for its transformative Special Agro-Industrial Processing Zones Nigeria Phase II project during the Africa Investment Forum. At a packed presidential boardroom on Wednesday 4th December, governors from Nigerian States, leaders from multilateral [Read More]

Economy & Business

Sierra Leone’s dream of reliable electricity receives a boost from United States IDFC loan

Sierra Leone Telegraph: 12 December 2024: The U.S. International Development Finance Corporation (IDFC) on Tuesday, announced the first disbursement out of a $292 million loan to support CECA SL Generation Limited, an entity that will construct and operate a 105MW combined-cycle power plant in Freetown, Sierra Leone through a project [Read More]

Economy & Business

A new agenda for African philanthropy: Catalyzing funding to accelerate Africa’s transformation

Gbenga Oyebode: Sierra Leone Telegraph: 09 December 2024: For decades, Africa has grappled with a legacy of colonialism, political instability, and uneven economic development, leading to perceptions of the continent as one in need of external assistance and causing the label ‘the Dark Continent’ to take on a new connotation. [Read More]