You are here

Economics

President Koroma Opens West Africa’s Biggest Palm Oil Refinery In Pujehun

The President of Sierra Leone, Dr. Ernest Bai Koroma  has official opened the largest palm oil refinery  in the country and in West Africa at Sahn-Malen Chiefdom, Pujehun District.

SOCFIN Company has invested over $US 130 million to reach this stage, planting 12,319Ha of hybrid oil palm trees and building a mill currently with a 30t/hr of Fruit Bunch(FFB) capacity and able to increased to 60t/hr
President Koroma says Sierra Leone is now for business.

 

Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

Inflation Increases to 8.86 Percent in January 2016

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/

Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

Chamber of Commerce Starts Trade Fair March 30

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.

Meeting / Event Tags: 
Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

Salone Establishes Small and Medium Enterprise Development Association

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

Meeting / Event Tags: 
Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

The economy is growing, but carbon emissions aren’t. That’s a really big deal

A general view on the chimneys of the Hsieh-ho Power Plant in Keelung, northern Taiwan, 17 November 2015. EPA/DAVID CHANG

Image: A general view on the chimneys of the Hsieh-ho Power Plant in Keelung, northern Taiwan, 17 November 2015. EPA/DAVID CHANG

washingtonpost.com - March 16, 2016 - Chris Mooney

Roughly a year ago, the International Energy Agency announced a wonky yet nonetheless significant development. Looking at data for the year 2014, the agency found that although the global economy grew — by 3.4 percent that year — greenhouse gas emissions from the use of energy (their largest source) had not. They had stalled at about 32.3 billion metric tons of carbon dioxide, just as in 2013.

The agency called this a “decoupling” of growth from carbon dioxide emissions, and noted that it was the “the first time in 40 years in which there was a halt or reduction in emissions of the greenhouse gas that was not tied to an economic downturn.” For decades prior to 2014, economic growth had pretty much always meant more pollution of the atmosphere, and a worsening climate problem.

Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

Mounting debts could derail China plans to cut steel, coal glut

Workers are seen at Shuangyashan Mine, owned by Longmay Group, in Shuangyashan, Heilongjiang province, in this March 15, 2016 file picture. REUTERS/Brenda Goh/FilesI

mage: Workers are seen at Shuangyashan Mine, owned by Longmay Group, in Shuangyashan, Heilongjiang province, in this March 15, 2016 file picture. REUTERS/Brenda Goh/Files

reuters.com - March 22, 2016 - David Stanway

China's campaign to slim down its bloated industries could be derailed by more than $1.5 trillion of debt in its steel, coal, cement and non-ferrous metal sectors, which threatens to overwhelm local banks.

Tackling industrial overcapacity has become a priority for Beijing to make its slowing economy more efficient and address a supply glut that has hammered coal and steel prices.

China is providing more than 100 billion yuan ($15 billion) in the next two years to handle layoffs from coal and steel, but that will only be made available once debts have been settled.

(VIEW COMPLETE ARTICLE)

Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

China's Mobile Payment Revolution Is Going to Africa

          

BLOOMBERG VIA GETTY IMAGES

huffingtonpost.com - by Claire van den Heever - February 26, 2016

CAPE TOWN, South Africa -- With the launch of Apple Pay in mainland China on Feb. 18, Apple has become the first foreign player to secure a place at the table for China's enormous mobile payment market. . . .

. . . Africa's largest lender by assets, Standard Bank, has opted for a more direct route: joining forces with WeChat to secure a piece of Africa's growing mobile payment market. The Standard Bank-backed WeChat Wallet was launched in November 2015 in the continent's most industrialized nation, South Africa, and gives users access to a variety of the Chinese version's most popular offerings, including peer-to-peer money transfers and in-app payments for taxis and other services.

(READ COMPLETE ARTICLE)

 

Country / Region Tags: 
Problem, Solution, SitRep, or ?: 

Social Progress Index 2015

socialprogressimperative.org

CLICK HERE - Social Progress Index 2015 (158 page .PDF report)

MEASURING NATIONAL PROGRESS – To truly advance social progress, we must learn to measure it, comprehensively and rigorously. The Social Progress Index offers a rich framework for measuring the multiple dimensions of social progress, benchmarking success, and catalyzing greater human wellbeing. The 2015 version of the Social Progress Index has improved upon the 2014 version through generous feedback from many observers and covers an expanded number of countries with 52 indicators.

(READ COMPLETE ARTICLE)

CLICK HERE - Publications

http://www.socialprogressimperative.org

Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

The New Plastics Economy: Rethinking the Future of Plastics

submitted by Albert Gomez

ellenmacarthurfoundation.org - January 19, 2016

Applying circular economy principles to global plastic packaging flows could transform the plastics economy and drastically reduce negative externalities such as leakage into oceans, according to this new report.

The New Plastics Economy: Rethinking the future of plastics provides, for the first time, a vision of a global economy in which plastics never become waste, and outlines concrete steps towards achieving the systemic shift needed.

The report was produced by the World Economic Forum and the Ellen MacArthur Foundation, with analytical support from McKinsey & Company, as part of Project MainStream, a global, multi-industry initiative that aims to accelerate business-driven innovations to help scale the circular economy. It was financially supported by the MAVA Foundation.

Country / Region Tags: 
General Topic Tags: 
Problem, Solution, SitRep, or ?: 

Pages

Subscribe to Economics
howdy folks