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The Minister of Trade and Industry, Alpha Ibrahim Sesay, has announced that Sierra Leone has secured up to US$700 million in private sector investment aimed at boosting the country’s manufacturing sector and reducing reliance on imports.
Speaking during the Civic Day Series held in Karene District, Sesay described the development as a major breakthrough in the government’s efforts to strengthen domestic production and ease pressure on foreign exchange.
According to the minister, the investment will focus on the local production of essential goods such as beverages, tomato paste, iron rods, and flour—items that currently make up a significant portion of the country’s imports.
“By next year, we will have companies producing beverages, tomato paste, iron rods, and many other products,” Sesay said. “By the end of this year alone, two new companies will begin producing flour, while another two will commence iron rod production. This will reduce our reliance on imports and ease pressure on foreign exchange.”
He added that the initiative is expected to position Sierra Leone as a regional production hub by the end of next year.
A key component of the plan is the Special Economic Zone project in Koya, which is being spearheaded by ARISE IIP. The project represents an investment of about US$350 million and is projected to generate thousands of jobs for young people within the next 12 to 18 months.
Meanwhile, the Minister of Technical and Higher Education, Haja Ramatulai Wurie, has pledged her ministry’s support to ensure the workforce is adequately prepared to meet the demands of the expanding manufacturing sector.
“These will prepare Sierra Leone’s workforce to meet the demands of the expanding manufacturing sector in the country,” Wurie said, referring to plans for the establishment of community colleges and skills training institutions.
The government says the combined efforts are expected to drive industrial growth, create employment opportunities, and strengthen economic resilience by reducing import dependency and expanding domestic production capacity.
We are waiting. I’m praying, it ends at nothing. Leaders have the responsibility to be honest with their subordinates as leadership is by serving humanity instead of causing economic crunch so that citizens will entirely rely on the few eich politicians.