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West African Bankers Association

Association des Banques d'Afrique de l'Ouest


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Information on Sierra Leone Information on the Economy of Sierra Leone
List of Banks in Sierra Leone How to create a company
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Sierra Leone is

Located in Western Africa, Sierra Leone has a 1,093.00 km border with Guinea (794 km) and Liberia (299 km). It has a 402.00 km coastline. Sierra Leone opposes Guinean troops' continued occupation of the village of Yenga.

 

The capital city of Sierra Leone is Freetown, located on the western coastline of the country. This city is a major port for this area of the Atlantic Ocean and was settled in 1787. Freetown is considered the center for commerce, culture, education, and politics in Sierra Leone and the city's economy revolves around the deep harbour off the coast. During the 1990s, the city was the scene of intense violence during the Civil War of Sierra Leone. The climate of Freetown is considered a tropical environment with relatively high temperatures and humidity throughout the year. The rainy season occurs from May-October and sees close to 95% of the entire year's rainfall; approximately 2774 millimetres (109 inches) out of 2945 yearly millimetres (115 inches) of rain falls during this time of the year. The warmest months of the year occur from March-May with average highs reaching 31.2 degrees Celsius (88.2 degrees Fahrenheit). Average lows throughout the year rarely dip below 23 degrees Celsius (73.4 degrees Fahrenheit). Attractions in the city have been rebuilt after the costly civil war during the 1990s and Sierra Leone is a well-kept secret in terms of unique sites and picturesque scenery

 

Read more on Sierra Leone's Capital

 

Sierra Leone is an African country covering 71,740.00 km2 of which 0.17% is water and 71,620.00 km2 is land. This makes it the 117th largest country in the world and slightly smaller than South Carolina. Its geographic coordinates are 8 30 N, 11 30 W and Freetown is the capital city.

The name Sierra Leone comes from the Portuguese explorer Pedro de Sintra.

Its ISO code is SL.

Geography

Sierra Leone has a mean elevation of 279 m above sea level.

It has a tropical climate with two monsoon seasons between December to March and June to September. Its terrain is made up of mangrove swamps, wooded hill country, plateaus, and mountains.

Population

Sierra Leone has a population of 6,018,888 making it the 109th largest in the world.

English is the official language, and Mende and Temne are widely spoken. The major ethnic groups reported are Temne, Mende, Limba and Kono. The majority of the population practices Islam or indigenous beliefs.

The official language of Sierra Leone is English, however, the country is considered multilingual with several other languages taking precedent over English. Minority languages in Sierra Leone include Mende which is spoken natively by 37% of the population. Mende is spoken mainly in southern Sierra Leone with a small number of speakers in neighboring Liberia. Temne is spoken by roughly 30% of the population as a first language and evolved from the Niger-Congo family of languages. Although English is the official language of education, the government, and media, it remains a minority language in terms of native speakers and prevalence within the country. Approximately 97% of the 7.4 million citizens in the country speak the Krio language (either natively or as a second or third language) which evolved from English Creole. Krio provides a mutual method of communication between the various tribes and ethnic groups within Sierra Leone

 

Read more on Sierra Leone's Languages

 

The dialing code for the country is 232.

Government

Sierra Leone is an independent country. it gained independence from the United Kingdom in 1961. Its constitution was last ratified in 2008.

The political system of Sierra Leone takes place in an environment of a presidential representative republic. The parliament of Sierra Leone was founded in 1863 as a legislative council that would represent British interests in the colony. The President of Sierra Leone is considered both the head of government and head of state as well as appointing a Cabinet of Ministers which requires approval from parliament. The national parliament of the country is located in the capital city of Freetown, on the western coast. There are 124 members of parliament and 112 of these individuals are elected from the 14 districts in the country. The remaining 12 seats are reserved for Paramount Chiefs, who represent the highest level of regional authority in the nation's districts. The first decade of independence in Sierra Leone was known as the golden age and this was due to the evolution and work of the national parliament. Elections in Sierra Leone take place every five years. The voting system used in Sierra Leone is first-past-the-post, similar to that of Canada, India, Pakistan, the United Kingdom, and the United States.

Read more on Sierra Leone's Government

Economy

Factoring in Purchasing Power Parity, Sierra Leone's GDP is $10,640,000,000.00 (USD) with $1,700.00 (USD) per capita. This makes it the 156th largest economy and its citizens the 204th richest in the world. The currency of Sierra Leone is the Leone (SLL).

 

Its major export partners are China, Belgium, and Romania. Its main exports are iron ore, diamonds, rutile, cocoa, coffee, and fish. Its major import partners are China, India, and the United States. Its major imports include foodstuffs, machinery, and fuels.

Flag

The flag of Sierra Leone consists of three equally sized horizontal bands of green, white, and blue (top to bottom). This flag was adopted as the official national banner on 27 April 1961, the same day the country gained independence from the United Kingdom. The flag was last officially confirmed by state law in the 1991 amendments to the national constitution. The flag of Sierra Leone is said to have derived from the national coat of arms that was created in 1960 in the lead up to independence. The College of Arms organization were the designers of this coat of arms and their work inspired the flag which was adopted around one year later. Chapter 1, Article 3 of the Sierra Leone Constitution states the design specifications in legal terms with guidelines as to how it can be displayed. Previous flags of Sierra Leone include two similar banners that were used while the country was considered a protectorate of the United Kingdom. The flag of Sierra Leone is said to have derived from the national coat of arms that was created in 1960 in the lead up to independence

 

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Capital

Freetown

Languages

English (official, regular use limited to literate minority), Mende (principal vernacular in the south), Temne (principal vernacular in the north), Krio (English-based Creole, spoken by the descendants of freed Jamaican slaves who were settled in the Freetown area, a lingua franca and a first language for 10% of the population but understood by 95%)

Ethnic

Groups

Temne 35%, Mende 31%, Limba 8%, Kono 5%, Kriole 2% (descendants of freed Jamaican slaves who were settled in the Freetown area in the late-18th century; also known as Krio), Mandingo 2%, Loko 2%, other 15% (includes refugees from Liberia's recent civil war, and small numbers of Europeans, Lebanese, Pakistanis, and Indians) (2008 census)

Religion

Muslim 60%, indigenous beliefs 30%, Christian 10%

Government

Presidential republic

Independence

27 April 1961 (from the UK)

Area

71,740.00 km2

Water Area

120.00 km2

Land Area

71,620.00 km2

Population

6,018,888.00

Location

Western Africa, bordering the North Atlantic Ocean, between Guinea and Liberia

No. Bordering Countries

2

Bordering

Countries

Guinea 794 km, Liberia 299 km

GDP(PPP)

$10,640,000,000.00 (USD)

GDP

(Per Capita)

$1,700.00 (USD)

Export

Partners

Its major export partners are China, Belgium, and Romania.

Export

Commodities

Its main exports are iron ore, diamonds, rutile, cocoa, coffee, and fish.

Import

Partners

Its major import partners are China, India, and the United States.

Import Commodities

Its major imports include foodstuffs, machinery, and fuels.

Climate

Tropical; hot, humid, rainy; two distinct monsoon seasons - northeastern monsoon (December to March) and southwestern monsoon (June to September); inter-monsoon - frequent afternoon and early evening thunderstorms

Terrain

Coastal belt of mangrove swamps, wooded hill country, upland plateau, mountains in east

Learn More

Sierra Leon

 

About WABA


     
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Our Mission and Objectives

 

What We Do at WABA
Our Leadership and Governance

 

     

The West African Bankers Association's mission is "to develop, promote, generate, coordinate and drive cross border banking and financial transactions that will enhance regional trade, economic and financial integration and development." ...read more

WABA creates avenues for the revision and exchange of information on banking practices in the sub-region in particular and in Africa in general, and a forum for the discussion of common problems. The enhancement of the promotion and strengthening of ...read more

WABA comprises 3 organs namely; The Secretariat, The Executive Council and the General Assembly, including the Executive Management, and the Board of Directors. The Secretariat is run by the Secretary General who is the Chief Executive Officer. ...read more

 
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