By December last year, the Government of Sierra Leone was very enthusiastic about the idea of having a private company to manage the Pepel Railway and Port. It therefore came as no surprise that, on 10th January this year, the Government of Sierra Leone wasted no time in terminating the Lease Agreement they had signed with Kingho Railway and Port Company in 2021 for the development and management of the Pepel Railway and Port. That singular but bold decision was commended by Sierra Leoneโs donor partners including the EU and the World Bank.
On 17th January, 2023 the Government of Sierra Leone signed a Lease Agreement with ARISE Integrated Industrial Platforms for the development and management of the Pepel Railway and Port.
The question is still being asked: Why is Kingho showing eagerness to manage the Pepel Railway and Port? Experts have argued that, for the sake of transparency, no mining company should be allowed to manage the countryโs only minerals Port?
It is alleged that, 30 percent of Iron Ore exported by Kingho is not disclosed to the Government of Sierra Leone. The Government only relies on data supplied to them by Kingho to determine royalty payment.
The Bank Governor, Prof. Karifa Kallon, disclosed recently that, between 2018 and 2022 Sierra Leone exported US$2.5Billion worth of minerals but received a paltry sum of less than US$200Million. This is not a fair deal by all standards.
Nobody knows why sales proceeds from minerals and produce exported out of this country are never remitted through the banking system. Exporters of minerals and produce sell foreign exchange offshore and collect the Leones equivalent in Sierra Leone.
Under-invoicing in the minerals sector is affecting the countryโs economy greatly. How can the Government allow mineral companies especially Kingho to do self-declaration without any third party involvement?
We continue to argue that, a private company with the technical know-how to manage railway and port should be allowed to develop and manage the Pepel Railway and Port. That private company will provide a level playing field for all companies operating in the mining sector.
ARISE IIP have demonstrated seriousness in investing in Sierra Leone by establishing the countryโs only Industrial Zone at Koya in the Port Loko district and they are finalizing arrangements for the return of passenger trains to Sierra Leone.
The ARISE IIP project is a game changer in Sierra Leone.
President Dr Julius Maada Bio should ensure that the ARISE IIP project is fully implemented for the good of the country.
Home Business ๐๐ก๐ฒ ๐๐๐๐๐ ๐๐ก๐จ๐ฎ๐ฅ๐ ๐๐๐ง๐๐ ๐ ๐๐ก๐ ๐๐๐ข๐ฅ & ๐๐จ๐ซ๐ญ
-
๐๐ฒ๐ฌ๐ญ๐๐ซ ๐๐ ๐ซ๐ข๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐ฌ๐๐๐ฎ๐ซ๐๐ฌ ๐๐$๐๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐ฎ๐ง๐๐ข๐ง๐ ๐ญ๐จ ๐๐ฑ๐ฉ๐๐ง๐ ๐จ๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง๐ฌ
Accra, Ghana โ 28th October, 2024 โ Oyster Agribusiness, an innovative agri-tech company s… -
๐๐ง๐ ๐๐ฅ๐ ๐๐ข๐ฌ๐ญ’๐ฌ ๐๐จ๐ฐ๐ง๐๐๐ฅ๐ฅโฆ ๐๐ข๐ง๐ข๐ง๐ ๐๐ฆ๐ฉ๐ข๐ซ๐ ๐๐ง ๐๐ข๐๐๐ซ๐ข๐ ๐๐ซ๐ฎ๐ฆ๐๐ฅ๐๐ฌ ๐๐ง๐๐๐ซ ๐๐จ๐ซ๐ซ๐ฎ๐ฉ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ซ๐ ๐๐ฌ
In a tangled web of corruption, manipulation, and controversy spanning across Liberia and … -
๐ ๐๐ฅ๐ฅ๐จ๐ฎ๐ญ ๐ ๐ซ๐จ๐ฆ ๐๐จ๐ง๐จ ๐๐ข๐๐ฆ๐จ๐ง๐… ๐๐๐ง ๐๐๐ซ๐ซ๐๐ซ ๐๐๐๐ฎ๐ฌ๐๐ ๐๐ ๐๐ฆ๐๐๐ณ๐ณ๐ฅ๐๐ฆ๐๐ง๐ญ
The complainant in the alleged 264 carat diamond matter from Kono, Benjamin Marrer, has be…
Load More Related Articles
-
๐๐ฒ๐ฌ๐ญ๐๐ซ ๐๐ ๐ซ๐ข๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐ฌ๐๐๐ฎ๐ซ๐๐ฌ ๐๐$๐๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐ฎ๐ง๐๐ข๐ง๐ ๐ญ๐จ ๐๐ฑ๐ฉ๐๐ง๐ ๐จ๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง๐ฌ
Accra, Ghana โ 28th October, 2024 โ Oyster Agribusiness, an innovative agri-tech company s… -
๐๐ง๐ ๐๐ฅ๐ ๐๐ข๐ฌ๐ญ’๐ฌ ๐๐จ๐ฐ๐ง๐๐๐ฅ๐ฅโฆ ๐๐ข๐ง๐ข๐ง๐ ๐๐ฆ๐ฉ๐ข๐ซ๐ ๐๐ง ๐๐ข๐๐๐ซ๐ข๐ ๐๐ซ๐ฎ๐ฆ๐๐ฅ๐๐ฌ ๐๐ง๐๐๐ซ ๐๐จ๐ซ๐ซ๐ฎ๐ฉ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ซ๐ ๐๐ฌ
In a tangled web of corruption, manipulation, and controversy spanning across Liberia and … -
๐ ๐๐ฅ๐ฅ๐จ๐ฎ๐ญ ๐ ๐ซ๐จ๐ฆ ๐๐จ๐ง๐จ ๐๐ข๐๐ฆ๐จ๐ง๐… ๐๐๐ง ๐๐๐ซ๐ซ๐๐ซ ๐๐๐๐ฎ๐ฌ๐๐ ๐๐ ๐๐ฆ๐๐๐ณ๐ณ๐ฅ๐๐ฆ๐๐ง๐ญ
The complainant in the alleged 264 carat diamond matter from Kono, Benjamin Marrer, has be…
Load More By Amadu Daramy
-
๐ ๐๐ฅ๐ฅ๐จ๐ฎ๐ญ ๐ ๐ซ๐จ๐ฆ ๐๐จ๐ง๐จ ๐๐ข๐๐ฆ๐จ๐ง๐… ๐๐๐ง ๐๐๐ซ๐ซ๐๐ซ ๐๐๐๐ฎ๐ฌ๐๐ ๐๐ ๐๐ฆ๐๐๐ณ๐ณ๐ฅ๐๐ฆ๐๐ง๐ญ
The complainant in the alleged 264 carat diamond matter from Kono, Benjamin Marrer, has be… -
๐๐๐ ๐๐ฑ๐๐๐๐๐ฌ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ซ๐จ๐ฃ๐๐๐ญ๐ข๐จ๐ง
By Mohamed Fofanah [email protected] The Executive Chairman of the Petroleum Regula… -
๐ ๐จ๐ซ ๐๐ฉ๐๐ซ๐๐ญ๐ข๐ง๐ ๐๐จ๐๐ข๐ฅ๐ ๐๐จ๐ง๐๐ฒ ๐๐ฅ๐ฅ๐๐ ๐๐ฅ๐ฅ๐ฒ… ๐๐๐ซ๐ข๐๐๐ฅ๐ฅ, ๐๐ซ๐๐ง๐ ๐ ๐ ๐ข๐ง๐๐ ๐๐๐๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง
After several notifications to regularize their mobile money operations, NaTCA (National C…
Load More In Business
Click To Comment
Check Also
๐๐ฒ๐ฌ๐ญ๐๐ซ ๐๐ ๐ซ๐ข๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐ฌ๐๐๐ฎ๐ซ๐๐ฌ ๐๐$๐๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐ฎ๐ง๐๐ข๐ง๐ ๐ญ๐จ ๐๐ฑ๐ฉ๐๐ง๐ ๐จ๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง๐ฌ
Accra, Ghana โ 28th October, 2024 โ Oyster Agribusiness, an innovative agri-tech company s…