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As Customers Storm the Bank………. Pro-Credit MD on the Run |
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Written by Silas Gbandia
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Friday, 05 March 2010 13:09 |
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The Managing Director of Pro-Credit Bank Andre Radloss is working on a scheme to sneak out of Sierra Leone within the next two weeks as the bank has been sold off to Ecobank without giving notice the workers and paying any end of service benefits to them. The customers too haven’t been informed of the take over. As part of the scheme, Andre Radloss would embark on massive sackings for trivial reasons even as Ecobank staff would gradually take over Procredit Bank operations starting this week. This development has worried almost all the customers and they are rushing to withdraw their savings.
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PROCREDIT FOLDS UP AMIDST ALLEGATION |
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Written by Silas Gbandia
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Friday, 05 March 2010 12:56 |
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News of Pro-credit selling off to Ecobank has scratched old wounds and customers are rushing to the various branches of Pro-credit to ask for an explanation and/or withdrawal of their savings.
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Developing Ailing SALPOST |
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Written by Silas Gbandia
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Friday, 05 March 2010 12:17 |
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The Sierra Leone Postal Services Ltd (SALPOST), listed in the National Commission for Privatization ACT 2002 for divestiture will not be privatize. Mr. Mohamed Abu Sesay, Financial Analyst for the Banking sector of the NCP said no rational government would privatize its postal service. With the privatization process going on, Mr. Sesay said the United Nations Development Programme (UNDP) has provided funding for the restructuring of SALPOST.
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WHAT ARE THE BENEFITS OF HAVING THE NCP IN TERMS OF ECONOMIC DEVELOPMENT? |
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Written by Silas Gbandia
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Monday, 01 March 2010 10:01 |
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One of the frequently asked questions about privatization has been on the benefits of the programme to Sierra Leone. Privatization is not a cure-all or panacea for the economy of the country. It is part of the broader economic reform policy. The Benefits of having the National Commission for Privatization (NCP) in terms of economic development are:
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GST still a Hot Potato |
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Written by Silas Gbandia
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Monday, 01 March 2010 09:31 |
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The Goods and Services Tax (GST) still dominates discussions in market centers. A tin of Sardine sold for Le. 2,500 is now Le. 3,000. Palm oil locally produced is now almost Le. 2,000 per pint, which wasn’t the case in December 2009. Several other goods have experienced similar increase in prices. Even though it’s Herculean to determine the average percentage increase, the rise in prices (rightly or wrongly) has been blamed on the introduction of the GST.
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