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Wed, 2016-03-30 14:42 — davidmc

This group focuses on economic issues and recoveryin Sierra Leone.

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Inflation Increases to 8.86 Percent in January 2016

Thu, 2016-03-31 11:08 — Mohamed S

The annual inflation rate increased in January 2016 to 8.86 percent from 8.85 percent in December 2015, the statistics agency has stated in a release. The depreciation of the Leone has been the major reason for the increase in prices of all the commodities in the consumer pricing index across the country.
The annual rate of inflation increased from 10.40 percent in December to 10.67 percent in January in the Northern Region. In the Western Region, it decreased from 8.72 percent in December to 8.49 percent in January. In the East inflation climbed from 9.47 percent to 9.79 percent and in the South from 8.14 percent to 8.42 percent.
Monday March 07, 2016

http://awoko.org/2016/03/07/sierra-leone-news-inflation-increases-to-8-86-percent-in-january-2016-2/

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Chamber of Commerce Starts Trade Fair March 30

Thu, 2016-03-31 10:31 — Mohamed S

The Sierra Leone Chamber of Commerce, Industry and Agriculture is holding its annual trade fair at the Siaka Stevens Stadium from March 30 to April 25, Allan Metzger, Business Development Officer of the Chamber said in an interview last Saturday.

The trade fair will attract businesses from Nigeria, Ghana, Benin, Senegal, Liberia and Guinea. Local businesses and companies like the Banks, Insurance companies and those in clothing and textiles will participate in the trade fair. Milla Group, Shankerdas will all have booths in the stadium, Mr. Metzger said.

In November-December the Chamber held a post Ebola International and national trade fair that attracted mostly local businesses. “Ebola is over so we are getting back to our normal timetable of hosting the trade fair in March  April,” Mr. Metzger said.

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Salone Establishes Small and Medium Enterprise Development Association

Thu, 2016-03-31 10:22 — Mohamed S

President Koroma launched the Small and Medium Enterprise (SME) Development Association last Thursday at the Miatta Conference Hall in Freetown to promote SMEs development in the country.

In his address, President Koroma said the aim is to provide credit facilities to micro, small and medium enterprises at single digit interest rate and with no demand for collateral. High interest rates and demand for collateral have kept many small businesses run especially by women from accessing finance to grow their business, he said.

The UK Department For International Development (DFID) has provided a £5m budget to support 29,400 petty traders affected by Ebola through a micro credit scheme. The Ministry of Trade and Industry is compiling the list.
Micro credit has been a useful method to empower women economically after the 11-year war that ended in 2002. There are several examples that show how women have grown businesses from a few thousands to millions of Leones. It comes as no surprise for some that government and NGOs are using it as part of the post ebola strategy to develop SMEs.
Monday March 21, 2016

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