By Sallieu S. Kanu
Freetown, Sierra Leone – The Financial Secretary at the Ministry of Finance, Matthew Dingie, has reassured the public of strong performance in revenue generation, despite recent challenges. Regarding the country’s fiscal progress, Dingie highlighted that Sierra Leone achieved 99% of its revenue target in 2024. However, a slight decline was observed in early 2025 due to over 2,000 Electronic Cash Register (ECR) machines being out of service, which temporarily impacted revenue collection.
Dingie told a regular government news conference in Freetown on Tuesday that reluctance among businesses to use the ECR machines contributed to revenue losses. He urged citizens to request National Revenue Authority (NRA)-issued receipts for all transactions, emphasizing tax compliance as a civic duty. Following engagements between the NRA and the service provider, all ECR machines have been reactivated, with revenue collection expected to improve significantly by the end of March 2025.
Inflation Reduction: A Major Economic Achievement
In a significant economic milestone, Dingie announced that inflation has dropped from 54.3% in July 2023 to 13.8% in February 2025, marking a reduction of over 30%. This achievement reflects the government’s commitment to stabilizing the economy and improving the cost of living for citizens.
Revenue Growth and Financial Reforms
Commissioner General of the NRA, Mrs. Jeneba K. Bangura, provided an overview of Sierra Leone’s revenue growth trajectory. Revenue collection has seen a steady increase:
2022: NLe7.1 billion
2023: NLe10.1 billion
2024: NLe14.5 billion
2025 Target: NLe18.9 billion
Mrs. Bangura attributed this growth to the NRA’s robust financial reforms, which have enhanced revenue generation.
Key Measures to Improve Tax Compliance
To combat tax evasion and strengthen compliance, the NRA has introduced several initiatives:
Marking System: Prevents abuse of tax concessions by mining companies reselling fuel for profit.
Tax Stamps on Beverages: Ensures all alcoholic and non-alcoholic beverages, both local and imported, bear tax stamps. Citizens are encouraged to report missing stamps.
‘CHECK AM’ Mobile App: A new app enabling consumers to verify tax stamps on beverages.
ENSOFT System: A digital platform integrated with telecom companies to enhance Goods and Services Tax (GST) collection from Mobile Network Operators (MNOs).
Mrs. Bangura revealed that the NRA has implemented 21 measures to bolster revenue generation and urged citizens to support these efforts by collecting GST receipts.
Clarification on the 2025 Finance Act
Hon. Mustapha M. Sellu, Deputy Chairman of the Finance Committee in Parliament, clarified that the 2025 Finance Act does not introduce new taxes but strengthens enforcement provisions to ensure compliance. The Act empowers the NRA to fine defaulters and enforce tax obligations. Hon. Sellu reaffirmed Parliament’s commitment to digitizing revenue collection, reducing corruption, and minimizing financial losses.
These reforms and achievements underscore Sierra Leone’s dedication to fostering economic stability and sustainable growth.