Author: Truth Media

Just 5 Banks Control Two-Thirds; 66% of Financial Sector Assets – World Bank

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’

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64% of Sierra Leoneans Lack Access to Electricity

Freetown, 18th August 2025 – More than 6 out of every 10 Sierra Leoneans- 64% of the population, still live without access to electricity, a stark indicator of the country’s chronic energy deficit that continues to undermine growth, productivity, and poverty reduction. This alarming statistic is detailed in the World Bank’s June 2025 Country Economic Memorandum (CEM), which paints a sobering picture of a power sector under pressure.

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