Category: Business & Finance

Freetown, 19th December 2025 —Shareholders of Union Trust Bank (UTB) have formally petitioned the Bank of Sierra Leone (BSL) to immediately “stay, recall and suspend” the regulator’s 8 December public notice that placed UTB under a caretaker management and approved Rokel Commercial Bank (RCB) as the acquiring institution.

Freetown, 19th December 2024 –The 2024 Auditor General’s Annual Report has revealed that Sierra Leone lost over NLe 44.8 million to financial irregularities across ministries and departments, with additional losses recorded in foreign currency transactions. The findings, detailed in Table 2 -Pg 71 of the report, highlight systemic lapses in documentation, payroll oversight, and revenue management.

Freetown, 16th December 2025- Sonoco Ltd. has secured a US$23 million loan from Proparco, the private‑sector financing arm of the French Development Agency (AFD), to construct Sierra Leone’s first industrial‑scale wheat flour mill and silo storage complex in Freetown.

Freetown, 15th December 2025- The International Monetary Fund (IMF) has raised concerns over Sierra Leone’s governance framework, warning that weak rule of law and entrenched corruption continue to undermine investor confidence and economic growth.

London, 11th December 2025- Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reaffirmed its position as one of the continent’s most resilient and innovative financial institutions after being named African Bank of the Year 2025 by The Banker, a leading global finance publication owned by the Financial Times of London.