ECONOMY AND INVESTMENT
Located on the West Coast of Africa between latitudes 7 and 10 degrees north and longitudes 10.5 and 13 degrees west, Sierra Leone is a tropical paradise of awe inspiring rain forest and beautiful white beaches where a wonderful blend of heritage, history and culture is there for all to see and experience - and all just six hours away with our non stop Freetown Flyer from London.
Agriculture : Rice, coffee, cocoa, palm kernels, palm oil, peanuts, vegetables various, poultry, cattle, sheep
Industries: Mining of minerals, small scale manufacturing (beverages, textiles, cigarettes, household products) petrol refining, ship repair
- Production - approx 255 million kWh
- Consumption – approx 237 million kWh
Imports: Foodstuffs, machinery and related equipment, fuels, lubricants, chemicals, pharmaceuticals, household goods, electrical goods
Currency: Leone (Le)
- Fourah Bay College - University of Sierra Leone - Est 1827
- Njala University College - located at Njala, 200 miles from Freetown
SIERRA LEONE INVESTMENT
One of the primary objectives for the Government of Sierra Leone is that of overseas investment in a country rich in resources with substantial agricultural, fishery, and mineral reserves offering significant potential for investment.
Presently, the agricultural sector employs a majority of the working population, with mainly subsistence farming. The mining of diamonds, bauxite, titanium ore and other minerals traditionally provide the major source of hard currency, whilst the small manufacturing sector consists mainly of the processing of raw materials and light industrial production for the domestic market.
The economy is starting to recover from events of the last decade with the Government targeting increased growth rates contributing to a quickening pace of economic recovery. With this in mind and by way of assistance in rebuilding the nation, attracting foreign and private investment in Sierra Leone, is one of the country's top priorities.
Accordingly, the Government has introduced new legislation to improve the enabling environment for business including institutional reforms within public service. In brief, in order to create much needed jobs, Sierra Leone has to attract new companies and investment to its shores. To this end, the Government is going out of its way to accommodate new foreign investors who can now own 100 per cent of their business and benefit from a number of financial incentives including tax holidays and duty free imports on equipment. There is unlimited export potential through trade pacts with both EU and the United States and Sierra Leone is eager to maximise the return on its vast natural resources, especially agriculture, through the establishment of small industrial operations.
Priority Investment Areas Include:
- Energy and Power sector (independent power providers)
- Agriculture and Agro-Processing
- Mining Sector
- Petroleum Exploration and Exploitation
- Privatisation of state owned enterprises
- Establishment and development of Export Processing Zone (EPZ)
- Infrastructure (including Railways, Roads, Telecommunications and Water Supply.