Freetown and The Billionaires in Leones: A Comedy of Cash

Welcome to the Land of Paper Fortunes! If you’ve ever dreamed of being a billionaire, skip Silicon Valley or Dubai—just land in Freetown with a wallet full of Sierra Leonean leones (SLL /NLe).

Forget Elon Musk and his rocket—real billionaires are in Freetown, pushing wheelbarrows full of Leones just to buy soap. Here, the title Billionaire isn’t about private islands and hedge funds. It’s about how many rubber bands you own to tie up your money stacks.

Thanks to hyperinflation, you too can walk around with stacks of notes so tall they double as a pillow. The Sierra Leonean Leone has had a troubled past, with inflation hammering its value daily and relegating it to the lower tiers of the global economy. To put it bluntly, one billion leones will not even buy you a mid-range ‘Kekus.’

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— Yame.space (@SpaceYame) June 13, 2025

A Mid-range Kekus

Being a Leone billionaire is like being given a Monopoly set and told that you're the richest person in the world. While your wallet may be full, your stomach might not be.

A Currency Safari

It’s insane what has happened with Africa's currency in general, despite having the world's largest physical Gold reserves and abundant, valuable commodities on the continent.

GHS 40,000. Looks calm in Ghana

This is GHS 40,000. Looks calm in Ghana— But cross into Nigeria and it swells to 4.9 million Naira— suddenly you need a ‘Ghana Must Go’ bag to carry the bundles.

Not done! Jump to Uganda and it explodes into 11.5 million Uganda Shillings— forget backpack, you’re loading the notes into a pick-up truck like cement bags.

Then there’s the Leones currency: SLL | NLe. Well, will somebody please help: Forget duffels, forget trucks…

Behold, the land where one billion makes you rich on paper, but in real life, you’re still hustling for small change at Lumley Beach.

Forget push‑ups; billionaires here get biceps from hauling their notes. One trip to the market looks like you’re moving house. You don’t even carry a wallet—you bring a rice sack. Every purchase is cardio: counting out several hundred thousand just to buy mangoes while the seller looks bored halfway through.

ATMs spit out bills so rapidly you feel like you’ve won a money‑blowing game show—except the prize is worth a microwaved meat pie at the Crown Bakery on Wilberforce Street.

The Billionaire Lifestyle Siaka Stevens Edition: The Billionaire Capital Nobody Asked For

During my time at SLET, back in the days, and for a long time, you could exchange $1 (one dollar) for a few cents. And that is not even equivalent to one Leone.

What has happened to Sierra Leone's currency is insane. Being a billionaire comes with no limousines, only lorries of cash. Dinner reservations don’t involve caviar—they involve a bag of rice surviving the month. The true laughter comes from the kids, who watch their uncle boast of billions while drinking warm water. Snicked one six-year-old “uncle has billions, but no cold water in the fridge, for there is no electricity.”

Carrying around millions in Leones offers a unique workout routine. You don’t need weight when you’re lugging bundles of cash. Imagine! In the end, Leone billionaire’s life is less Picasso, more tragedy-comedy. You flaunt notes so tall they resemble manuscripts, only to trade them away for bread that tastes like betrayal.

A billion leones might stock your pantry with rice, palm oil, fish, and the occasional imported snack. Forget lobster—it’s more Maggi cubes and evaporated milk. This is not wealth, it’s cosplay wealth with no exit. A Monopoly board on steroids. A billionaire bubble that bursts the moment you try to price something. Anything!

In a nation where everyone dreams of striking it big, the true billionaires are the ones selling the tools. The rubber bands, sacks, and calculators. They are the Jeff Bezoses of every street corner.

The government insists things will stabilize, ‘Paopa, ’ ‘Trust the process, ’ it’s the only real flex left. In the meantime, the true value isn’t in the billions you carry—it’s in how many bags of rice and afternoons of generator fuel you can afford before your stack wilts under the heat of the next inflation.

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The Government of Today— RELATED

'Salone is on zig-zag.' Use the Pinch gesture or Tap the blue circle on the video player to enlarge the view

The Rising Cost of Living, Especially Food and Energy

Tin tranga! 

That is the new national anthem as hardship grips the motherland.

Tin tranga! That is the new national anthem as hardship grips the motherland. The cost of essential commodities keeps soaring, making the cost of living unaffordable for many. 

Sierra Leone

From food to fuel and utilities to higher education, everything is going out of reach for the average Salone man. Even those with deep pockets (and there aren’t many) are feeling the pinch. What is the government doing?

According to Statistics Sierra Leone, Consumer Price Inflation stood at almost 45% in July this year. When you focus on food and non-alcoholic beverages alone, you get a staggering 59.93% for the same month. These figures are alarming, but the reality of people, as far as the cost of living is concerned, is even more terrifying, with high levels of hunger and food insecurity. According to the World Food Programme, 78% of the country’s population is food insecure.

The rising fuel prices and impending increase in EDSA tariff in Sierra Leone definitely put a strain on the finances of its citizens. The situation is going to be difficult for everyone, regardless. When fuel prices go up, so do the prices of goods and services transported. 

‘_slogans and gimmicks but no real solution.’ Hardship for the people of Salone.

In only a few months, there has been a significant increase in fuel prices. The cost of electricity is about to increase. Last year, the cost of telecoms services—calling credit and mobile data—also increased significantly. Whether eating at a cookery baffa or a posh restaurant, you will still pay a lot more today. Recreation is a pure luxury.

The rising cost of living, especially food and energy, is commonly attributed to global market forces and, more recently, to the coronavirus pandemic and the ongoing Russia-Ukrainian war. While all of this might make sense, it is helpful only to an extent and is irrelevant to the people who struggle to live day by day. 

While global food and fuel prices decreased in 2022, Sierra Leoneans experienced a steady hike as the Leone depreciated by 60% in 2022. The economy has been on life-support for the most part, and according to the World Bank, inflation and currency depreciation reached record levels. So, the ‘global’ argument passed on from government to government does not pass muster. 

It is hard to understand and accept this type of behavior. It is a state of austerity for everyone except the administration. It is business as usual with an expanding wage burden—new and additional appointees, new institutions and offices, new big cars, and over-the-top spending. 

Thanks to the ensuing pressure of Bretton Woods and a broke State that constantly needs money, subsidies are being removed on fuel. You struggle to see the effort the State is making to cut costs. Everyone else bears the biting hardship while political appointees get subsidized by the very State—that is taking away subsidies from the struggling masses. 

Teachers must hustle their way to work with high transportation costs of NLe600—NLe800 (mere US$40) monthly SALARY, while senior state officials enjoy the comfort of a chauffeur-driven guzzler, with fuel paid by taxes of the poor teacher. 

Government institutions have normalized renting private properties for office use at the taxpayers' expense, while many public buildings remain underutilized or neglected. No one is interested in cutting those costs while the poor have to pay for it. Government events continue to be held at luxury venues with overpriced catering. Constant supply of free fuel to officials at the expense of the taxpayer. Let us not even talk about the expensive trips on chartered planes. What happened to 'The Land That We Love, Our Sierra Leone.'

'Knowledge and truth our forefathers spread,

Mighty the nations whom they led;

Mighty they made thee, so too may we

Show forth the good that is ever in thee.'

Until radical cuts to wasteful spending are made, the government will have no ground to stand on to offer plausible explanations for the hardship. It is possible that such cuts would not solve the problem. Still, the people should be able to see that their government is not only using global cost of living excuses to justify the increasing poverty but also doing something about it.

We are at a point where it would make sense to declare a state of austerity and adopt comprehensive cost-cutting measures that start from the very top. With food inflation at almost 50% and a currency that is withering away, there is no shame in saying that we are in a terrible situation that warrants drastic cuts—not the unjustifiable and untimely removal of subsidies, but on wasteful spending that is avoided and there is a lot of it—from the V8 Landcruisers to the trips and unnecessary events and fuel.

It is getting to a point where the government needs to stop explaining why people suffer from a constantly increasing cost of living and start taking steps and doing what responsible parents do when things are hard in the home. 

The discussion must no longer be about what is causing the hardship. There has to be a shift towards government action to cushion the impact on its people.