Author: Truth Media

Cash for Access: Freetown’s ‘Booking’ Scheme

Cash for Access: Freetown’s ‘Booking’ Scheme

Posted by | Aug 20, 2025 | |

Freetown, 18th August 2025- In January 2024, the Ministry of Transport and Aviation announced a sweeping directive: commercial tricycles locally known as kehkehs, along with motorbikes (okadas), pushcarts (omorlankays) and other unauthorized public transport would be barred from major Freetown roads during the day. The move, officials said, was intended to improve road safety, ease gridlock, and restore order on the city’s busiest corridors.

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SEND’s VSLA Network Reports NLe 3.5M in Savings and Loans for 2024

SEND’s VSLA Network Reports NLe 3.5M in Savings and Loans for 2024

Posted by | Aug 20, 2025 | , |

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.

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

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

Posted by | Aug 20, 2025 | , |

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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