Alpha Sesay Takes Business Registration Overhaul to World Bank Forum, Citing $0 Capital Barrier
Ben Bassey Sierra Leone presented a draft law to the World Bank’s Law, Justice and Development Forum that would eliminate minimum capital requirements for private companies and replace three overlapping statutes with a single online registration framework.
Attorney-General and Minister of Justice Alpha Sesay outlined the proposed Companies and Allied Matters Bill at the closed-door forum held November 2–3, 2026, which convened attorneys-general and justice ministers to discuss legal frameworks that unlock private investment.
The bill would consolidate the Companies Act 2009, the Registration of Business Act 2007 and the General Law (Business Start-Up) (Amendment) Act 2007 into one legal regime. It also proposes an online registration system designed to reduce administrative steps for entrepreneurs.
The reforms address a specific weakness identified in World Bank benchmarking. Sierra Leone scored zero points in the B-READY 2025 assessment for “no paid-in minimum capital requirements for domestic firms”. The draft bill would permit private companies to incorporate with zero minimum paid-in capital, a shift from the current requirement that entrepreneurs prove share capital before registration.
The presentation is part of a wider reform effort backed by the National Investment Board. Validation workshops held across Bo, Makeni and Freetown in early 2026 drew private sector input on the draft, including from the Sierra Leone Chamber of Commerce, Industry and Agriculture.
The bill also introduces simplified structures for micro, small and medium enterprises, including single-director companies without a secretary and unrestricted objects clauses that allow firms to engage in any lawful activity without amending their articles.
The World Bank forum, held in Washington, focused on the role of legal leaders in creating business-enabling environments. Sessions examined contract enforcement, environmental safeguards and the use of artificial intelligence in legal systems.
For Sierra Leone, the engagement signals an attempt to align domestic corporate law with international best practice as the government pursues private sector-led growth. Whether the bill clears Parliament remains the decisive test.