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By Alpha Abu Six months into the pilot phase of government’s Munafa Fund that provides soft loans to private business owners, a 46.91% repayment has so far been made by the borrowers who manage Small and Medium Enterprises (SMEs). This was disclosed by Shaka Sannoh the Chief Executive Officer (CEO) of Small and Medium Enterprises Development Agency (SMEDA) the fund’s
Sierra Leone Telegraph: 02 March 2021: As millions of people in Sierra Leone struggle to make ends meet, amid continuing economic decline, mass unemployment and rising inflation – caused by falling value of the Leone, poor export performance, and low private sector investments, Minister of Finance – Jacob Jusu Saffa, said in an article shared on social media yesterday that: “Reducing poverty or providing bread and butter remains the overarching objective of our economic management.” Whilst his 5-page article – some say thesis, has once again stirred debate about the government’s a...
Magburaka, Northern Province, Friday 12 February 2021 – His Excellency President Dr Julius Maada Bio has unveiled the Munafa Fund in Magburaka, northern Sierra Leone, after directing Minister of Finance, Jacob Jusu Saffa, to pronounce Le100 Billion for the National Microcredit Scheme for 2021 to 2023 to support small and medium enterprises. “Under the leadership of the Ministry of Finance and the Ministry of Trade and Industry, experts consulted stakeholders, businesses, commercial banks, and even Non-Governmental Organisations, nationwide. We are therefore pleased today to launch the Nat...