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OWLPRESS > News > Business

Orange SL Splashes 150m to 3 winners

  • By Dauda Musa Bangura
  • 3 April 2022

By Alie Abdis Turay Orange SL  on Thursday 15th July 2021 handed over at their headquarters in Freetown   cheques totalling one hundred and fifty million leone   (Le...

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Freetown, Sierra Leone, March 31, 2022— An investment from IFC and GAFSP announced today in Kings Beverages, a Sierra Leonean producer of soft drinks and fruit juices, will help the company boost production, create jobs, and strengthen local agriculture value chains through increased sourcing from local farmers. The $5 million loan, which includes $2.5 million from IFC and $2.5 million from GAFSP, the Global Agriculture Food and Security Program, will enable Kings to complete construction of its factory in Freetown, introduce new fruit juice products, and double its number of employees to 250 over the next three years. The company, which runs Sierra Leone’s largest automated beverage plant, will also increase its sourcing from 40 to 150 local fruit farmers by 2025. The expansion is also projected to create 2,600 induced and indirect jobs throughout the agriculture value chain in Sierra Leone. IFC will complement its investment—its first in Sierra Leone’s agribusiness sector—with advisory services to strengthen Kings’ occupational health and safety practices, financial and social management, corporate governance, and resource-use efficiency. Additionally, IFC will help build the capacity of smallholder farmers in food safety, environmental and social standards, and productivity. “IFC’s investment gives us the long-term financing we need to build our capacity to serve the fast-growing domestic market and develop a robust supply chain for a sustainable business,” said Kishore Kumar Parwani, CEO of Kings Beverages. “IFC’s partnership with Kings Beverages will strengthen the manufacturing and agriculture sectors in Sierra Leone, creating jobs and supporting farmers. The investment reflects IFC’s commitment to helping Sierra Leone strengthen its economy after the global shock of COVID-19,” said Kyle Kelhofer, IFC’s Senior Country Manager for Sierra Leone. The agribusiness sector is especially important in Sierra Leone, employing nearly 60 percent of the country’s labor force and making a significant contribution to GDP. IFC‘s strategy in Sierra Leone includes a focus on agribusiness, energy, the financial sector, and mining and also highlights the increasing role of the digital economy in improving efficiencies and productivity.
  • Business

IFC to Boost Kings Beverages

  • By Dauda Musa Bangura
  • 3 April 2022

Freetown, Sierra Leone, March 31, 2022— An investment from IFC and GAFSP announced today in Kings Beverages, a Sierra Leonean producer of soft drinks and fruit juices,...

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As FG Gold Boosts S/Leone’s GDP… LOCAL CONTENT BOSS HAILED
  • Business

As FG Gold Boosts S/Leone’s GDP… LOCAL CONTENT BOSS HAILED

  • By Dauda Musa Bangura
  • 28 March 2022

As FG Gold Boosts S/Leone’s GDP… LOCAL CONTENT BOSS HAILED

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As Freetown Experiences Blackout… OVER 720,000 NOW ENJOYING EASY SOLAR
  • Business

As Freetown Experiences Blackout… OVER 720,000 NOW ENJOYING EASY SOLAR

  • By Dauda Musa Bangura
  • 24 March 2022

Residents across Freetown for weeks now have been suffering for want of accessing constant electricity supply.  Easy Solar is now lighting up lives with over 720,000 people...

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As Fuel Crisis Heightens… LEONCO CEO Assures The Nation
  • Business

As Fuel Crisis Heightens… LEONCO CEO Assures The Nation

  • By Dauda Musa Bangura
  • 18 March 2022

As Fuel Crisis Heightens… LEONCO CEO Assures The Nation

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EASY SOLAR, PADI ORGANIZE COOKING COMPETITION
  • Business

EASY SOLAR, PADI ORGANIZE COOKING COMPETITION

  • By Owl
  • 14 March 2022

EASY SOLAR, PADI ORGANIZE COOKING COMPETITION

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As She Bids Farewell… ORANGE STAFF HAILS CEO AMINATA KANE
  • Business

As She Bids Farewell… ORANGE STAFF HAILS CEO AMINATA KANE

  • By Dauda Musa Bangura
  • 5 March 2022

As She Bids Farewell… ORANGE STAFF HAILS CEO AMINATA KANE

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As CEO Aminata Kane Manifests Good Leadership... ORANGE-SL OPENS LE 11 BILLION ULTRA-MODERN OFFICE
  • Business

As CEO Aminata Kane Manifests Good Leadership… ORANGE-SL OPENS LE 11 BILLION ULTRA-MODERN OFFICE

  • By Dauda Musa Bangura
  • 3 March 2022

The leading telecommunication company in Sierra Leone  Orange  SL Limited on 3rd March 2022 under the leadership of its CEO, Madam Aminata Kane Ndiaye officially unveiled their...

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House of Electronics Offers 20% Valentine Discount
  • Business

House of Electronics Offers 20% Valentine Discount

  • By Dauda Musa Bangura
  • 11 February 2022

Type A House of Electronics SL Ltd., the leading classic electronics shop in Sierra Leone has done it again. The last time it was during the Christmas...

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THINKING PINK & ORANGE RAISE CANCER AWARENESS
  • Business

THINKING PINK & ORANGE RAISE CANCER AWARENESS

  • By Owl
  • 8 February 2022

By Francis Kamara International and national sensitization on the dangers of cancer, how to detect it and how to seek a cure before it is too late...

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