Africa 24

The business atmosphere in Sierra Leone still suffers a crunching move as sales drop with inflation on a ticking bomb.

Since Covid ended smaller type of businesses in Sierra Leone are still unable to bounce back after the pandemic shocks. Traders are having their businesses collapsing as the cost on buying products skyrockets while profits trickle in half drops. The travel restictrictions between countries by people had rendered many businesses to collapse in the period of the pandemic which bowed world’s economics down. Sierra Leonean traders at Abacha wide business centre were the most affected at the time. They told of sad stories of them paying in dollars market dues while transacting business in Guinea’s capital Conakry, Sierra Leone’s neighbouring country.

“We wish government to bring down the dollar exchange rate; our money is not accepted in Guinea. We would have to exchange the leones into dollars before we go to Guinea,” says a woman at Guinea store on Abacha Street in Freetown.

Since the period the wares seller was speaking, situation on business high cost has not yet changed for her and great many as evidenced by the almost empty stalls at the Guinea store.

A lady who identified herself as Memuna told Africa 24 that they don’t get apparel business to sell often like before during business thriving days.

“You will come in the morning but you don’t meet business; those who used to go to China don’t go now like used to in the year 2014.”

“We only survive on God’s grace in a day,” she ended her talk while waking up a stair in a fashion shop.

As Sierra Leone’s economy declines very badly due to government’s low exports and partly due to ongoing world’s conflicts, analysts have described the country’s economy to have reached hyper-inflation, which has exceeded ordinary inflation.

It means businesses will close down in near-future if situation persists in the country and will mean a hard punch on the cost of living by Sierra Leoneans.