Browsing: Sierra Leone

Development fund African Development Fund

Sudan tops up as Africa aims for $25 billion development fund

Africa
  • Sudan has stepped forward, increasing its pledge to $3 million in the African Development Fund.
  • Sudan’s pledge aligns it with other African nations, which have each committed to raise at least $1 million to the fund by 2025.
  • With backing from The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its key projects is strengthening.

African nations are coming together to secure a $25 billion replenishment for the African Development Fund (ADF), an ambitious target that signals a continent-wide push toward self-driven financing for projects.

In the latest update, Sudan has stepped forward, increasing its pledge to $3 million in this collective movement. With backing from countries including The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its development projects is strengthening.

As governments, led by the African Development Bank (AfDB), advocate for this replenishment, they set a critical precedent for financial autonomy in achieving Africa’s …

Presidential polls find Sierra Leone in economic crisis

Countries

xternal and domestic economic shocks disrupted Sierra Leone’s post-pandemic recovery, exacerbating existing macro-fiscal vulnerabilities and plunging Sierra Leone into a severe economic crisis. In Sierra Leone’s presidential poll today, the citizens will look to choose the best promise for an economic rebuild.…

Inside Sierra Leone’s worrying debt situation

Countries

Sierra Leone's government may have to impose severe austerity measures.  These measures will address inefficiencies and inadequacies in allocating and administrating public resources. However, all hands must be on deck within these economic management measures. This will secure the ring-fencing of money for essential objectives like education, livelihood preservation, and health. These objectives remain critical to maintaining social stability and a rapid return to the economic recovery path.…

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Africa’s mining industry requires right legal framework to flourish

Business

The answer is in the law and the governance models that these countries approach. The way in which the governments of those countries approach the mining industry is imperative.

In South Africa, the natural resource curse is more pronounced in the sense that while the mining sector has made a few individuals fabulously wealthy, inequality in that country has meant that while the richest of the rich get richer, the poor get poorer.

How can governments approach the mining sector to ensure its development leads to broad-based and shared prosperity for all? The answer is the same. The answer is in the respective governments and the legal frameworks for the mining industries of those countries.…