In the spirit of transparency, and to address recent media reports and commentaries concerning the company’s compliance with the fiscal terms of its concession agreement with the Government of Sierra Leone (GoSL), ZOODLABS has issued an official statement that would provide additional clarity and details on what has been reported and commented on.

Given its full compliance with the Concession Agreement, ZOODLABS categorically confirmed that it has fully complied with both fiscal and non-fiscal provisions of its Concession Agreement. Regarding the payments made to, and on behalf of the Government of Sierra Leone, from the proceeds of the ACE Cable Landing Station commercialisation, operation, and management, the company issues the following statements:

“Concession Fees Between January 2021 and December 2024, ZOODLABS made total payments amounting to NLe 97,755,694.00 (Ninety-seven million, seven hundred and fifty-five thousand, six hunderd and ninety-four New Leones). These payments covered the Consolidated Revenue Fund (CRF), the Digital Development Fund (DDF), and authorised expenses related to the erstwhile SALCAB Staff and Board’s emoluments, as well as transition expenditures for the establishment of the National Fibre Transmission Company (NFTC). Regulatory Fees ZOODLABS paid NLe 13,100,000.00 (Thirteen million, one hundred thousand New Leones) to the National Telecommunications Commission (NATCOM) for the commercial operation of the cable landing station. This marks the first time the regulator has demanded such payment since the infrastructure was deployed in 2012/13.

Taxes Since commencing operations in January 2021, ZOODLABS has paid a total of NLe 88,371,216.78 (Eighty-eight million, three hundred and seventy-one thousand, two hundred and sixteen New Leones, seventy-eight cents)  to the National Revenue Authority (NRA) in respect of GST and other taxes.

This is in stark contrast to the eight years prior, during which no tax payments were made under various SALCAB administrations. ZOODLABS also uncovered substantial tax liabilities that had accrued under previous administrations.

As of December 2024, the cumulative total payments made by ZOODLABS to various Government of Sierra Leone (GoSL) bodies stand at NLe 199,226,909 (One hundred and ninety-nine million, two hundred and twenty-six thousand, nine hundred and nine New Leones). A summary of these payments is provided in the annex to this statement. These payments, alongside the improvements in market performance and service quality, demonstrate the positive impact of the Government’s partnership with ZOODLABS. Notably, this collaboration has resulted in government revenue earnings, which were largely non-existent during the eight years the assets were under SALCAB’s direct control.

Response to media reports and publicity concerns, ZOODLABS expresses concern over the negative publicity arising from errors in the Auditor General’s report. The company believes this has affected our corporate image and is committed to initiating more robust discussions with our government partners to prevent such issues in the future. We also call on media partners to verify information with the company before publication. ZOODLABS will not tolerate efforts aimed at extortion or blackmail from media organisations and reserves the right to pursue legal action if it feels unfairly targeted or defamed.

Commitment to Corporate Governance and Transparency; ZOODLABS remains steadfast in upholding the highest standards of corporate governance practices. The company  reiterates their  commitment to full transparency and strict compliance with both the terms of our concession agreement and all relevant national legal and regulatory frameworks.”