Author: Truth Media

A total of 755 VSLA groups operated nationwide under SEND’s umbrella, collectively mobilizing a remarkable NLe 3,552,780 in 2024. This sum includes NLe 3,048,791 in direct savings, NLe 117,629 under the social fund, NLe 36,982 in fines, and NLe 349,378 accrued from interest payments a strong indicator of a maturing informal financial ecosystem at the community level.

Freetown, 18th August 2025 – Sierra Leone’s financial sector is heavily concentrated, with just five banks controlling 66% of the country’s financial assets and the largest bank being publicly owned, according to the World Bank’s June 2025 Country Economic Memorandum- ‘From Potential to Progress: Structural Transformation and Job Creation on the Road to Middle-Income Status’

By [email protected] Freetown, 18th August 2025 -After years of relentless price hikes that...

EDSA is currently losing 75% of its potential revenue, a consequence of two critical weaknesses: technical and commercial losses estimated at 50% and a low collection rate of just 76%.