Richest man in sierra leone 2020


  • Top 5 wealthiest black people who can collectively take Sierra Leone out of poverty
  • The Teenage Miner, the Village and the 709-Carat Diamond That Changed Everything
  • Factors of Persistent Poverty in Sierra Leone
  • Sierra Leone: What is President Koroma’s salary?
  • Is Sierra Leone richly poor or poorly rich?
  • Top 5 wealthiest black people who can collectively take Sierra Leone out of poverty

    It is published as part of our mission to showcase peer-leading papers written by students during their studies. Sierra Leone has been a nation plagued with civil wars and poverty since gaining independence in Despite being one of the few countries in the world that has precious natural resources such as diamonds and rare minerals, this nation continues to suffer from extreme poverty.

    There are several factors that contribute to the persistent poverty in Sierra Leone. This paper will focus on four key factors: corruption within the government, insufficient infrastructure, lack of education and inadequate civil rights. This paper will first examine broad factors of poverty within Sub-Saharan Africa, and then explore the aforementioned specific factors causing steadfast poverty in Sierra Leone.

    There are certain over-arching factors that make sub-Saharan Africa more susceptible than the rest to the continuous problem of poverty. Sachs et al. Because infrastructure is extremely weak, transport costs are very high to get supplies and products from one area to another.

    Finally, slow dissemination of foreign technology has failed to develop this country in modern times. Corruption One of the most basic factors causing poverty within Sierra Leone lies within the government.

    Since colonial rule departed, the government has been characterised primarily by either a one-party rule or a military rule [2]: a one-dimensional rule that does not allow for opposition, and breeds corruption. The government has been extremely incompetent in providing its citizens with the most basic needs, because these needs have been usurped for government officials themselves. Soccoh Alex Kabia, has verbally recognised this occurrence, he has yet to take any proactive measures to stop this practice.

    Free medical assistance provided by donor nations do not reach the poor within Sierra Leone; instead, individuals, both within and outside the government, sell these free drugs for profit. Citizens cannot cure illnesses effectively and quickly because they do not have the financial means to afford even basic healthcare.

    As a result, they can fall fatally ill and pass away; if an individual who is the sole breadwinner of a family passes away, the family is left without an income, which drives them further into poverty. Alternatively, even if an individual is not fatally ill, they cannot go earn money for subsistence until they feel better, which they cannot achieve with expensive medicine.

    These unnecessary health-care expenses have played a significant role in propelling and perpetuating poverty amongst citizens. Instead, these funds have been used to serve the specific and inordinate needs of government officials and the urban elite, who happen to be government supporters. One significant example of this can be found within the rule of Siaka Stevens, the first President of Sierra Leone.

    He used up most of the financial resources that were meant for his state and people; as a result, poverty and underdevelopment reigned, and has continued within Sierra Leone.

    In addition, external factors such as a decreased demand for diamonds worldwide has thrown many Sierra Leoneans out of jobs and into poverty. Infrastructure The infrastructure within Sierra Leone is anything but sound; the money that is meant to build sturdy roads and bridges to enable facilitated transport of goods and basic services goes into the pockets of government officials.

    Even in colonial times, railroads that were constructed for the explicit purpose of expediting transportation and enhancing trade were ultimately seen as inefficient, and as a financial drain on the state. Sierra Leone does regard areas like Freetown, a major seaport, as significant to their imports and trade activities. However, this does not take importance away from roads; transport of services into rural areas, as well as trade between areas that do not have seaports, is facilitated by roads, which Sierra Leone lacks.

    As a result, Sierra Leoneans undersell their products, which results in lesser revenue and perpetuates poverty. Lack of infrastructure also leads to easy movement of rebels and militiamen, such as the RUF, to cause violence over a wider range of areas within Sierra Leone to emphasise their objectives.

    Citizens displaced by rebels face even more poverty as they are forced to flee from their home and their jobs into areas where nothing is guaranteed. Even outside help, such as foreign troops, cannot get into remote areas to provide emergency aid and stop militiamen if there is no solid infrastructure to help them get there.

    Weak infrastructure has also caused a spike in diamond prices, causing poverty within Sierra Leone. Costs to get diamonds from one area to another are high since roads and highways continue to remain in poor shape. For this reason, Sierra Leone cannot price its diamonds as cheaply as other countries can on an international platform.

    As a result, internal costs to transport diamonds to trading ports are not high, and their revenue outweighs their costs. Civil Rights Oppression and marginalization of individuals, both within and outside of tribal groups, have also led to persistent poverty within Sierra Leone. There is a major lack of basic civil rights within Sierra Leone, which plays a key role in promoting impoverished conditions within the region.

    Many rural residents do not have the access to basic voting, and when they get a chance to vote, the rural electorate is often discounted.

    Competition over already scarce resources has caused tribal factions to war against one another, which has exacerbated poverty. Moreover, the government has not taken many proactive measures to find resolution to this conflict, so these tribal groups are left to their own devices to figure out a solution.

    As they cannot reach compromises, basic resources have dwindled and driven these individuals into deeper poverty. Moreover, in a world where women are generally viewed as equal to men, this degradation of women keeps Sierra Leone from developing as a nation. Many Sierra Leoneans get less than minimum wage for the amount of manual labour that they perform; it is often not enough for the workers and their families to subsist on.

    In economic terms, they earn low rates of return on their earnings because they are unable to save any surplus of money after meeting their immediate needs, [18] which are expensive and take up much of their modest paycheck as is. Furthermore, funds that are provided as humanitarian and development assistance from donor nations are not used for the purposes that they were originally earmarked for.

    As a result, appeals for aid from this impoverished nation are essentially a waste, as the money is provided but does not reach the individuals that the aid is meant for. So many opportunities for Sierra Leone to lift itself up out of its vicious cycle of persistent poverty are thwarted at first level, which is the government. Education Lack of education has also been a contributing factor to the persistent poverty within Sierra Leone. Many schools in the rural areas were built immediately after Sierra Leone was granted independence.

    As a result, they do not have many well-endowed alumni to help support the schools and fund them. Adults do not have access to education, either; if an adult, especially a woman, desires to take courses and expand her knowledge, it is impossible for her to do so.

    This triggers a civil war among individuals because they do not know other means of bringing about change. This, in turn, causes the government to divert funds away from sectors such as education and towards mitigating civil war, which leads to further poverty within this region. Many children are recruited into the RUF and the national army, pulled away from education and taught to fight and kill civilians as combatants.

    Since these children cannot gain an education, they cannot get jobs that pay well. They cannot provide for themselves, nor can they help to lift their families out of poverty.

    Individuals who are lucky enough to obtain and complete their education seldom receive adequate opportunities in the workforce.

    Unlike citizens of many other Lesser-Developed Countries, Sierra Leoneans do not have the opportunity to go abroad and earn to send money back home to their impoverished families. Many are either recruited to fight by the rebels or government; otherwise, they are sent back home to work in rural areas.

    The lack of education with regard to family planning, combined with lack of provision of items such as prophylactics, results in a sharp rise in population within a country already struggling to feed its citizens. The government does not take charge to implement measures at mitigating accelerated population growth. This expansion in population leads to even more of a resource scarcity.

    Available food resources are not enough for the current population; with newcomers, it is definitely not sufficient enough to feed the rising population. Rural population growth can be attributed to rising birth rates, which is primarily due to a lack of education in family planning. In fact, growth of rural population has gone from 2,, people in to 3,, in Conclusion Release from colonial rule has not benefited Sierra Leone; independence has caused vicious cycles of poverty and corruption, especially through vital sectors such as education, civil rights and infrastructure.

    While minimal reforms are taking place within these sectors to help Sierra Leone grow and prosper, the process is very slow and inadequate, and will continue to be so until the government takes significant measures to rid itself of corruption within all of these factors and lift its citizens out of poverty.

    The Teenage Miner, the Village and the 709-Carat Diamond That Changed Everything

    Is Sierra Leone richly poor or poorly rich? Our country is regarded as rich and well known for its vast endowment in minerals — diamonds, rutile, bauxite, gold, iron ore, limonite, platinum, chromite, coltan, tantalite, columbite and zircon, as well as promising petroleum potential. With our wonderful climate and large swathes of arable land, we used to boast about products like rice, cocoa, coffee, oil palm, and in the recent past, piassava.

    With such resources for a population averaging seven million at best of times, what is our excuse for being such a poor nation? Are we richly poor or poorly rich? Even with such huge resources, we paradoxically rank out , according to the Human Development Index HDI , and shamefully low in the human development category with an HDI of 0.

    Like many other African countries, we share a diagnosis of Resource Curse; a term used to describe a paradoxical situation in which a country underperforms economically, despite being home to valuable natural resources. No one will doubt the impact the decade long civil war, the Ebola pandemic, the mudslides and currently the Covid pandemic, as nature and man-made factors have connived to condemn our country to the back of beyond poverty. However, using these alone as reasons for our economic demise may just be convenient excuses.

    We may disagree that our country is rich potentially, but we cannot deny how we have inexcusably connived, through man-made means to relegate our country onto the low rungs of the world poverty scale. So how did we get here and how did we do it?

    There is no single reason or straightforward answer for this. Interestingly, we are not short of new vocabularies and phrases to express our national economic demise. While the older generation use fond memories to compare and long for the old days, we still hold on to what is increasing looking like a delusion that our country is still rich. On the other hand, the younger generation, just weaned from the ravages of war and the pandemics, will go green with envy of the good old days.

    Let us take a nostalgic drive down memory lane. Many people recall as the year we crossed the Rubicon into the downward spiral into the economic cesspit. The rest became history as we signed our economic prenuptial death knell agreements with the merchants of IMF, headquartered in Washington DC. You wonder why everyone is chasing the dollar. Now roll back the years when we produced enough and exported oil palm, cocoa, coffee and piassava. Now imagine how many people these companies collectively employed across the country.

    There was hardly a family without at least one member in full time employment. Private miners, especially in the gold and diamond areas provided income and employment. Would it be safe to say that Sierra Leone was rich then? Let us fast forward to present day Sierra Leone. All gone — thanks to systematic gutting, bad management, illegal sales etc. The wind of global economic change has not helped either as we lagged behind in the race to diversify and adapt.

    Those that survived are mere skeletons and shadows of their former selves. Today we have deep mining that requires deep pockets, which only non-conglomerate pseudo-hustling companies can afford. Those days when we used to pick diamonds under eaves of houses after a heavy rainfall overnight are gone. Can any of the current companies operating in the country now even boast of employing more than or, even near a thousand workforce?

    The nearest we came to that was when African Minerals and London Mining were operating. Even at that, the majority were employed in the railway track-laying phase. They laid them off after the manual labour phase was completed.

    The end of the war brought our country into the spotlight for all the wrong reasons. This attention brought us millions of dollars in aid, loans, NGOs etc. What happened to all that? What do we have to show for it today? With the local refining of crude oil, fuel was relatively cheap.

    That has gone, but even with world market price falling today, the cost of refined petrol is Le 9, So, who pays the difference? Government subsidies. That may be just one example. Even though this could be cautiously harvested, there is a price for posterity to pay. The less said about our aviation industry the better. Ebola did hit the nerve centre of our economy, which coincided with the collapse of iron ore prices, and now Covid seems to have put the final nail in the coffin.

    Is it any wonder that the end of the war saw the largest migration in recent memory from our rural to urban areas? We continue to get our priorities wrong and open academic institutions daily, when we lack the outlets to accommodate these accomplished skills. What is the point of more universities when we cannot even employ those that have qualified donkeys years ago? Our Private Public Partnerships are almost non-existent, leaving the government as the largest, if not relatively the only viable employer.

    With many people chasing fewer jobs, tagged with the inherent cancer of and pressure from nepotism, tribalism, corruption etc. Is it against such a backdrop that the Rtd Brigadier Maada Bio brigade keep shouting that he has performed well in the two and half years he has been in power?

    They say that the government recruited and appointed 3, civil servants at both junior and senior school levels, recruited females in the army to promote gender equality. The Bio supporters also talk about the commissioning of 48 hospitals across the country, the approval of schools, supplied ambulances across the country, and commissioned the construction of two universities in Bonthe and Kono districts.

    The Bio brigade makes a case that these policies will return our country to its foundation for sustainable development. The green corner is hopeful that corruption has been cauterised. How long do we have to wait? So, what happens in the meantime? Take your pick. Do not forget to turn the lights off when you leave the room.

    As a result, Sierra Leoneans undersell their products, which results in lesser revenue and perpetuates poverty. Lack of infrastructure also leads to easy movement of rebels and militiamen, such as the RUF, to cause violence over a wider range of areas within Sierra Leone to emphasise their objectives. Citizens displaced by rebels face even more poverty as they are forced to flee from their home and their jobs into areas where nothing is guaranteed.

    Even outside help, such as foreign troops, cannot get into remote areas to provide emergency aid and stop militiamen if there is no solid infrastructure to help them get there.

    Weak infrastructure has also caused a spike in diamond prices, causing poverty within Sierra Leone. Costs to get diamonds from one area to another are high since roads and highways continue to remain in poor shape. For this reason, Sierra Leone cannot price its diamonds as cheaply as other countries can on an international platform. As a result, internal costs to transport diamonds to trading ports are not high, and their revenue outweighs their costs.

    Civil Rights Oppression and marginalization of individuals, both within and outside of tribal groups, have also led to persistent poverty within Sierra Leone. There is a major lack of basic civil rights within Sierra Leone, which plays a key role in promoting impoverished conditions within the region.

    Factors of Persistent Poverty in Sierra Leone

    Many rural residents do not have the access to basic voting, and when they get a chance to vote, the rural electorate is often discounted. Competition over already scarce resources has caused tribal factions to war against one another, which has exacerbated poverty. Moreover, the government has not taken many proactive measures to find resolution to this conflict, so these tribal groups are left to their own devices to figure out a solution. As they cannot reach compromises, basic resources have dwindled and driven these individuals into deeper poverty.

    Moreover, in a world where women are generally viewed as equal to men, this degradation of women keeps Sierra Leone from developing as a nation. Many Sierra Leoneans get less than minimum wage for the amount of manual labour that they perform; it is often not enough for the workers and their families to subsist on.

    In economic terms, they earn low rates of return on their earnings because they are unable to save any surplus of money after meeting their immediate needs, [18] which are expensive and take up much of their modest paycheck as is. Furthermore, funds that are provided as humanitarian and development assistance from donor nations are not used for the purposes that they were originally earmarked for.

    As a result, appeals for aid from this impoverished nation are essentially a waste, as the money is provided but does not reach the individuals that the aid is meant for.

    So many opportunities for Sierra Leone to lift itself up out of its vicious cycle of persistent poverty are thwarted at first level, which is the government. Education Lack of education has also been a contributing factor to the persistent poverty within Sierra Leone. Many schools in the rural areas were built immediately after Sierra Leone was granted independence.

    As a result, they do not have many well-endowed alumni to help support the schools and fund them. Adults do not have access to education, either; if an adult, especially a woman, desires to take courses and expand her knowledge, it is impossible for her to do so.

    Sierra Leone: What is President Koroma’s salary?

    This triggers a civil war among individuals because they do not know other means of bringing about change. This, in turn, causes the government to divert funds away from sectors such as education and towards mitigating civil war, which leads to further poverty within this region.

    Many children are recruited into the RUF and the national army, pulled away from education and taught to fight and kill civilians as combatants. Since these children cannot gain an education, they cannot get jobs that pay well. They cannot provide for themselves, nor can they help to lift their families out of poverty. Individuals who are lucky enough to obtain and complete their education seldom receive adequate opportunities in the workforce. Unlike citizens of many other Lesser-Developed Countries, Sierra Leoneans do not have the opportunity to go abroad and earn to send money back home to their impoverished families.

    Many are either recruited to fight by the rebels or government; otherwise, they are sent back home to work in rural areas. The lack of education with regard to family planning, combined with lack of provision of items such as prophylactics, results in a sharp rise in population within a country already struggling to feed its citizens. The wind of global economic change has not helped either as we lagged behind in the race to diversify and adapt.

    Those that survived are mere skeletons and shadows of their former selves. Today we have deep mining that requires deep pockets, which only non-conglomerate pseudo-hustling companies can afford. Those days when we used to pick diamonds under eaves of houses after a heavy rainfall overnight are gone.

    Can any of the current companies operating in the country now even boast of employing more than or, even near a thousand workforce? The nearest we came to that was when African Minerals and London Mining were operating. Even at that, the majority were employed in the railway track-laying phase.

    They laid them off after the manual labour phase was completed. The end of the war brought our country into the spotlight for all the wrong reasons. This attention brought us millions of dollars in aid, loans, NGOs etc. What happened to all that? What do we have to show for it today? With the local refining of crude oil, fuel was relatively cheap. That carly frm reset gone, but even with world market price falling today, the cost of refined petrol is Le 9, So, who pays the difference?

    Government subsidies. That may be just one example. Even though this could be cautiously harvested, there is a price for posterity to pay. The less said about our aviation industry the better. Ebola did hit the nerve centre of our economy, which coincided with the collapse of iron ore prices, and now Covid seems to have put the final nail in the coffin.

    Is it any wonder that the end of the war saw the largest migration in recent memory from our rural to urban areas? We continue to get our priorities wrong and open academic institutions daily, when we lack the outlets to accommodate these accomplished skills. What is the point of more universities when we cannot even employ those that have qualified donkeys years ago? Our Private Public Partnerships are almost non-existent, leaving the government as the largest, if not relatively the only viable employer.

    With many people chasing fewer jobs, tagged with the inherent cancer of and pressure from nepotism, tribalism, corruption etc. Is it against such a backdrop that the Rtd Brigadier Maada Bio brigade keep shouting that he has performed well in the two and half years he has been in power?

    Is Sierra Leone richly poor or poorly rich?

    They say that the government recruited and appointed 3, civil servants at both junior and senior school levels, recruited females in the army to promote gender equality. The Bio supporters also talk about the commissioning of 48 hospitals across the country, the approval of schools, supplied ambulances across the country, and commissioned the construction of two universities in Bonthe and Kono districts. The Bio brigade makes a case that these policies will return our country to its foundation for sustainable development.

    The green corner is hopeful that corruption has been cauterised.


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