New Leones Arrives in Kenema
Residents of Kenema, Eastern Region of Sierra Leone where in jubilation as the new Leone arrived in trucks to be stored in Banks there.
The Bank of Sierra Leone announced last week that new Leone will be in circulation on the 1st of July 2022, and old one will cease to be a legal tender effectively 1 October 2022.
The decision by the Bank to redenominate the Leones is as a result of high inflation, and therefore three zeros have been cut off from the existing currency in order to print smaller bills.
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Earlier today, the Bank of Sierra Leone announced that June 30th will be a holiday for Banks in Sierra Leone to allow preparations for the redenomination of the Leones
However, it seems that the holiday has already started in that part of the country.
Kenema residents were rejoicing as the trucks filled with the new currency made way into their local banks, and hoping that this will ameliorate the current hardship and economic situation in the country.
Check out the video below 👇🏽