ZOODLABS Highlights NLe 199M Contributions to Sierra Leone’s Economy
ZOODLABS has addressed recent media reports concerning its compliance with fiscal terms in its concession agreement with the Government of Sierra Leone (GoSL). The company reaffirmed its commitment to transparency, accountability, and partnership with the government, highlighting significant financial contributions and operational achievements since taking over the ACE Cable Landing Station’s management.
Financial Contributions and Achievements
Concession Fees:
- Between January 2021 and December 2024, ZOODLABS contributed NLe 97,755,694 to the Consolidated Revenue Fund (CRF), the Digital Development Fund (DDF), and related expenses.
Regulatory Payments:
- For the first time since the cable landing station was established in 2012/13, ZOODLABS paid NLe 13,100,000 to the National Telecommunications Commission (NATCOM) for regulatory fees.
Tax Payments:
- ZOODLABS paid NLe 88,371,216.78 in GST and other taxes to the National Revenue Authority (NRA) since assuming operations, contrasting with eight years of no tax contributions under previous administrations.
Total Contributions:
- As of December 2024, ZOODLABS has paid a cumulative NLe 199,226,909 to various GoSL bodies, showcasing a stark improvement in revenue generation and market performance.
Addressing Media Reports
ZOODLABS expressed concern about inaccuracies in recent Auditor General reports, which it says have negatively impacted its corporate reputation. The company emphasized its willingness to collaborate with government entities to clarify misconceptions and resolve any issues transparently.
Corporate Governance and Commitment
ZOODLABS reiterated its dedication to the highest standards of corporate governance, ensuring compliance with national laws, regulations, and concession agreements. It urged media outlets to verify information directly with the company to avoid spreading misinformation.
The company remains focused on driving innovation, improving service quality, and fostering a sustainable partnership with the GoSL to enhance digital infrastructure and national development.
