Category: Business & Finance

Freetown, 1st September 2025- In Sierra Leone’s fast-growing informal economy, young people are building businesses and managing money, but largely without banks. According to the 2025 Status of Youth Report, 52% of youth rely on mobile money for their financial transactions, while only 8% have a formal bank account. Another 21% use informal savings systems like ‘Osusu’, revealing a financial ecosystem driven by necessity, not inclusion.

Freetown, 25th August 2025 – Sierra Leone’s external financial position weakened in early 2025, as new data from the Central Bank reveals a 5.3% drop in remittances, a 2.45% decline in foreign reserves and a dramatic collapse in foreign exchange inflows, all pointing to mounting pressure on the country’s ability to meet international obligations.

FY2024: Cash Deficit Triples

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.