Sierra Leone: Is the New Finance Minister the Answer?

Last week, President Bio appointed Deputy Finance Minister, Sheku Ahmed Fantamadi Bangura to replace Denis Vandy who has been regarded as the most sacked public official in the current government.

From a battered post Ebola economy to COVID-19 disruption and the Russia-Ukrain conflict, it has been a rough journey for the President who in the last election campaigns projected himself the quick fixer of Sierra Leone's decades' old economic quagmire. He severally lashed at his predecessor for failing to handle the high cost of living. But his regime has seen a more rising inflation and more diminishing purchasing power of citizens.

This was a report coming out four months after Bank of Sierra Leone had stripped off the last three zeros of the currency with a bogus hope that things could turn around. But inflation keeps rising and the value of the redenominated currency has drained excessively against the US dollar. Local markets are reeling due to soaring prices of food and other basic commodities, triggering unprecedented cost of living.

But as Deputy Finance Minister, Sheku Ahmed Fantamadi Bangura has been a key member of the team handling Sierra Leone's economy while the value of the country's currency speedily drains.

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