A symbol of hope – carrying the trust of the people to light the dawn of a new Sierra Leone – His Excellency, Brigadier (R) Dr. Julius Maada Bio was overwhelmingly elected as the fifth democratic President of the Republic of Sierra Leone on April 4th, 2018.
Labouring to reignite the dwindling hopes of the people, re-develop domestic and international trust and rebuild respect for fundamental human rights in Sierra Leone, the Government came to power on a commitment to a straight-forward mission: tackling corruption head-on and renewing faith and trust in the Government of the people of Sierra Leone.
To ensure the National transformation necessary to deliver the dividends which will enable the medium and long-term developmental journey of Sierra Leone, the Dr. Bio-led government took urgent action for institutional reform, capacity building and a comprehensive review process to combat corruption in the country.
Preliminary Government investigations, in collaboration with Sierra Leone Ports Authority (SLPA) Executive Management, uncovered substantial fissures in the operations and revenue generation of the Cargo Tracking Note (CTN) contract awarded in 2015 to Transport and Port Management Systems – West Africa Sierra Leone (TPMS – WASL) and Global Transport and Marine Solutions (GTMS).
Enabled by the lack of monitoring – and controlled by a syndicate opposed to Governmental efforts to economic development and stability – the fissures ranged from both non-payments and revenue shortages of TPMS incomes, leaving estimated unaccounted revenues between 2015 and 2019 in excess of approximately 95 Billion Leones (USD$11 Million).
On February 15, 2019, His Excellency the President issued an Executive Order terminating the TPMS contract, immediately on determination that neither TPMS-WASL nor GTMS would be able to comply with provisions of the contract within a reasonable time period and had failed to refund the identified shortages.
Directed by the Government, the Executive Management of the Sierra Leone Ports Authority, led by General Manager Dr. Abdulai Fofana and Deputy General Manager Mr. Yankuba Askia Bio, took over the Cargo Tracking Note operations to transition it to the viable income generation scheme as originally envisioned.
• Following extensive research and workshops, the SLPA selected and signed a Joint Venture with the Freetown-based subsidiary of Domineum Blockchain Solutions to deliver and operate the scheme using first class tracking and monitoring solutions for Cargo Tracking Notes.
Since moving the CTN scheme under the direct management of the Sierra Leone Ports Authority in February 2019, the Government of Sierra Leone has realized over 40 Billion Leones in revenue (USD$4.1 Million)
Aligned with this mission, the business software solution licensed from Domineum has allowed the Authority to increase security measures, sanitizing the business climate of Sierra Leone ports and also has increased Compliance to Contractual Terms, without prejudice to the provisions contained therein.
These actions by the Government of His Excellency Dr. Julius Maada Bio and the Sierra Leone Ports Authority are already increasing investor confidence, local trust, and Government revenues. Continuing to work in solidarity with the Government Flagship anti-corruption program the Executive Management of the SLPA are contributing directly to economic stability.
These actions are also a bold harbinger of the intention of the Government to bring change, trust and prosperity to the people of Sierra Leone.
Iyke Aru is a seasoned author and educator in the blockchain and cryptocurrency industry. He has been in the business of crypto content writing for many years with thousands of his articles across several platforms on the internet. Iyke is based in Nigeria where he stands out as one of the most informed and credible figures in the cryptocurrency industry. Outside blockchain and crypto, you will most likely catch Iyke playing or discussing football with friends and family.