Banking in Sierra Leone consists of a central bank, the Bank of Sierra Leone, seven commercial banks, and six community banks. [1]
The Civil War destroyed many of the branches of the country's commercial banks and as of 2005 there were 34 commercial bank branches, the majority in the major towns. [2] Procedures for obtaining loans have been assessed as very complicated and there is a relatively low ratio of private credit to GDP at just over 4 percent. [3]
Community banks play the role of extended financial services to local communities which are not able to access the commercial banks. They are also designed to help development within Sierra Leone by supporting the government's microfinancing program and by empowering local communities. [2]
Name | Founded | District |
---|---|---|
Zimmi Community bank | June 2005 [4] | Zimmi, Pujehun District |
Kabala Community bank | July 2008 [5] | Kabala, Koinadugu District |
Marampa Masimera Community Bank | ||
Yoni Community Bank Ltd | ||
Mattru Community Bank Ltd | July 2004 [6] | Mattru Jong, Bonthe District |
Segbwema Community Bank Ltd | February 2005 [7] | Segbwema, Kailahun District |
Sierra Leone, officially the Republic of Sierra Leone, is a country on the southwest coast of West Africa. It is bordered by Liberia to the southeast and Guinea surrounds the northern half of the nation. Covering a total area of 71,740 km2 (27,699 sq mi), Sierra Leone has a tropical climate, with diverse environments ranging from savanna to rainforests. The country has a population of 7,092,113 as of the 2015 census. The capital and largest city is Freetown. The country is divided into five administrative regions, which are subdivided into 16 districts.
The All People's Congress (APC) is one of the two major political parties in Sierra Leone, the other being its main political rival the Sierra Leone People's Party (SLPP). The APC has been the main opposition party in Sierra Leone since 4 April 2018 when Julius Maada Bio of the SLPP won the 2018 presidential elections, though it maintains a majority in parliament.
Kabala is the capital and largest town of Koinadugu District in the Northern Province of Sierra Leone. Kabala is one of the main towns in Northern Sierra Leone and is set in a rural landscape, surrounded by mountains.
Julius Maada Wonie Bio is a Sierra Leonean politician, and the current president of Sierra Leone since 4 April 2018. He is a retired brigadier general in the Sierra Leone Army and was the military head of state of Sierra Leone from 16 January 1996, to 29 March 1996, in a military junta government known as the National Provisional Ruling Council (NPRC). As the candidate of the main opposition Sierra Leone People's Party (SLPP), Bio defeated Samura Kamara of the ruling All People's Congress (APC) in the runoff vote of the 2018 Sierra Leone presidential election with 51.8% of the votes to Kamara's 48.2%. International and local observers declared the election free and fair.
The Sierra Leone Civil War (1991–2002), or the Sierra Leonean Civil War, was a civil war in Sierra Leone that began on 23 March 1991 when the Revolutionary United Front (RUF), with support from the special forces of Charles Taylor's National Patriotic Front of Liberia (NPFL), intervened in Sierra Leone in an attempt to overthrow the Joseph Momoh government. The resulting civil war lasted 11 years, enveloped the country, and left over 50,000 dead.
The Bank of Sierra Leone is the central bank of Sierra Leone. It issues the country's currency, known as the Leone. The bank formulates and implements monetary policy, including foreign exchange.
Kei Ansu Kamara is a Sierra Leonean professional footballer who plays as a striker for CF Montréal of Major League Soccer. He is one of only eleven players to have scored 100 goals in MLS history, achieving the landmark in 300 appearances, and is currently third on MLS's all-time scoring list.
The Special Court for Sierra Leone, or the "Special Court" (SCSL), also called the Sierra Leone Tribunal, was a judicial body set up by the government of Sierra Leone and the United Nations to "prosecute persons who bear the greatest responsibility for serious violations of international humanitarian law and Sierra Leonean law" committed in Sierra Leone after 30 November 1996 and during the Sierra Leone Civil War. The court's working language was English. The court listed offices in Freetown, The Hague, and New York City.
Ernest Bai Koroma is a Sierra Leonean politician who served as the fourth President of Sierra Leone from 17 September 2007 to 4 April 2018.
Koinadugu District is a district in the Northern Province of Sierra Leone. It is the largest District in Sierra Leone in geographical area, and one of the least most densely populated. Its capital and largest city is Kabala, which is also one of the main cities in Northern Sierra Leone. The District of Koinadugu has a population of 404,097, based on the 2015 Sierra Leone national census; and has a total area of 12,121 km2 (4,680 sq mi). Koinadugu District is subdivided into eleven chiefdoms.
Mass media in Sierra Leone began when the first modern printing press in Africa arrived at the start of the 19th century. In the 1860s the country became a journalist hub for Africa with professional travelling to the country from across the continent. At the end of the 19th century the industry went into decline and when radio was introduced in the 1930s this became the primary communication media. Print media is not widely read in Sierra Leone, especially outside Freetown, partially due to the low levels of literacy in the country. In 2008 there were 15 daily newspapers in addition to those published weekly. Among newspaper readership young people are likely to read newspapers weekly and older people daily. The majority of newspapers are privately run and are often critical of the government.
Zimmi is a small town in Pujehun District of southern Sierra Leone. As of 2009 it had an estimated population of 5,369. The town is a trade centre in particular relating to agriculture, mining and commercial business activities, and provides a link for trade with Liberia. Zimmi Community Bank, founded in 2005, is located in the town and serves both the local area and the surrounding Chiefdoms of Barri, Sorogbema and Tunkia.
Dr Samura Mathew Wilson Kamara is a Sierra Leonean politician and economist. He was the All Peoples Congress (APC) Party's candidate for President of Sierra Leone in the 2018 election. He was the Minister of Foreign Affairs and International Cooperation of Sierra Leone from 2012 to 2017, Minister of Finance and Economic Development from 2009 to 2013, Governor of the Bank of Sierra Leone from 2007 to 2009, Financial Secretary in the Ministry of Finance during President Ahmad Tejan Kabbah's administration.
Union Trust Bank (UTB), whose full name is Union Trust Bank Limited, is a commercial bank in Sierra Leone. It is licensed as a "commercial bank" by the Bank of Sierra Leone, the central bank and national banking regulator.
The Sierra Leone women's national football team represents Sierra Leone in international women's football. It is governed by the Sierra Leone Football Association, which is part of the Confederation of African Football. Sierra Leone has played only four FIFA recognised matches, two in 1994 and two in 2010. The country has under-17 and under-20 women's national sides. The development of women's football in Sierra Leone faces challenges present throughout the continent. Domestically, it faces its own issues including the lack of a women's domestic competition and the decline in popularity of the sport among women.
General elections were held in Sierra Leone on 7 March 2018 to elect the President, Parliament and local councils. Incumbent President Ernest Bai Koroma did not run for another term, as he was constitutionally ineligible, having served the maximum ten years in office.
Sierra Leone Ministry of Finance is a ministerial department of the Government of Sierra Leone, and is in charge of managing the revenue and finances of the Sierra Leone government. The ministry implements the Sierra Leone government economic policies and public financial management. The ministry advises the President of Sierra Leone on economic issues. The headquarter of the Sierra Leone Ministry Of Finance is located on George Street in Freetown, Sierra Leone.
The Order of the Republic is the premier order of the state of Sierra Leone. It was established by President Siaka Stevens in 1972, to honour Sierra Leoneans and foreign nationals for distinguished and dedicated service to Sierra Leone.
Raymond Desmond Aderemi Renner-Thomas or Ade Renner-Thomas was a former Chief Justice of Sierra Leone.
Richard Konteh is a Sierra Leonean educator, public servant, and a businessman.