FY2024: Cash Deficit Triples
FY2024: Cash Deficit Triples
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Category: Business & Finance
Public Debt Surges to 37% of GDP
Freetown 25th August 2025- Sierra Leone’s public debt surged to NLE 61.1 billion by the end of December 2024, representing 37% of the country’s GDP, according to fiscal data from the country’s Ministry of Finance.
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Government Overspends by Over NLE 4 Billion in 2024
Freetown 25th August 2025- Sierra Leone’s fiscal position took a sharp downturn in FY2024, with the government recording a staggering cash deficit of NLE 4.2 billion, culminating in a negative cash balance of NLE 5.9 billion by year-end. This marks a troubling shift in the country’s financial trajectory, raising urgent questions about budget discipline, debt sustainability, and the future of public service delivery.
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SEND’s VSLA Network Reports NLe 3.5M in Savings and Loans for 2024
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
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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