On Tuesday, May 2, 2023, the Ministers of Energy and Finance in Sierra Leone, Alhaji Kanja Sesay and Sheku Fantamadi Bangura respectively, marked the official signing of an Aide Memoire with the Millennium Challenge Corporation (MCC).

They reiterated the government’s commitment to strengthening ties with the MCC to maximize the country’s current and potential energy capacities.

Sierra Leone was declared Compact Eligible by the MCC due to the impressive efforts of President Julius Maada Bio in critical social and good governance sectors. The Compact Program focuses on improving the country’s energy sector.

The signing ceremony of the Memorandum of Understanding aims to conclude the Compact development, with the MCC expected to submit the proposed Compact Document to its Board of Directors for approval in September 2023.

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The proposed Energy Compact is expected to bring foundational investments in Sierra Leone’s transmission network, including the Southern Corridor 225kV transmission line, National Dispatch Centers, and complementary projects at the sub-transmission level and substations on the 161kV line running from Bumbuna to Freetown.

Minister of Energy, Alhaji Kanja Sesay, expressed his pleasure in attending the ceremony and noted President Julius Maada Bio’s commitment to providing reliable, sustainable, and affordable electricity to the people of Sierra Leone.

He praised the reforms in the Aide Memoire, stating that they address critical areas that have the potential to positively impact investments in the energy sector.

Mr. Sesay also expressed his eagerness to collaborate with development partners to improve the energy sector.

Minister of Finance, Sheku Fantamadi Bangura, described the occasion as a critical milestone in the country’s energy endeavors.

He emphasized the role of energy in unlocking private sector potential and reiterated the government’s readiness to embark on the reform path outlined in the Memoire.

MCC’s Country Director for Sierra Leone, Steve Grudda, expressed appreciation and stated that the next steps are the review and approval of the Compact by the MCC management in June 2023, the review by the GoSL of the draft Compact in July, approval by the MCC Board in September, and the subsequent signing of the Compact.

The Coordinator of the Sierra Compact Development Unit, SLCDU, Ndeye Koroma, also spoke at the ceremony.