We want to assist you with Invest Sierra Leone, get Business Opportunities in Sierra Leone as well as to search for and connect with leading Companies in Sierra Leone. We also provide a list of key Government trade advisors who assist you with doing business in Sierra Leone and other relevant business information on Sierra Leone. Specifically we offer three digital portals that are FREE to use and will be of interest to you…..You can join our Africa Business Community FREE so we can promote your company here. After that if you have a specific investment or business proposition add it to the Africa Business Opportunities Dashboard FREE. Want investment, or to find a business partner, are you selling real estate etc, do you have goods, products or services you want to promote? If so our Africa Business Opportunities Dashboard is for you. View some of the business opportunities uploaded by our Africa Business Community here. Fast growing, more established Sierra Leone companies with experienced management teams looking for investment can add themselves to our closed AFSIC African Investments Dashboard – after you have uploaded information about your investment opportunity we can send it directly into the inbox of many of Africa’s most important investors. To benefit from any of these options join our Africa Business Community today FREE !
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Country overview: Sierra Leone is located in West Africa bordering the Atlantic Ocean to the west and surrounded by Liberia to the south east and Guinea to the north east. It gained its independence from the United Kingdom on 27 April 1961. Its constitutional capital is Freetown with 4 Administrative provinces. It is a multiparty Presidential Republic with the President sitting as both the Head of State and Government. It runs a unicameral legislative system, and its official language is English. Islam is the predominant religion with sizable number of the population that practices Christianity. It has a mixed legal system of English common law and customary law. It has an area size of 71740 sq km.
Demographic Information: Sierra Leone has an estimated population of 6.62 million comprising mostly of younger population (less than 25 years) which makes up about 60.2% of the population, those in the age bracket of 25-64 years makes up about 36.1% of the population and above 65 years age group makes up about 3.70% of the population. Average population density is estimated at 111 inhabitants/km2. In terms of human development indicators, it has a life expectancy of 62.6 years (Women) and 57.1 years (Men). It achieved universal primary education with an 143.73% Primary enrolment rate in 2019 and overall literacy level of 43.2% as at 2018.
Broad Economic Overview: Sierra Leone has diverse natural resources (iron ore, diamonds, gold, rutile, bauxite, oil and gas reserves) and a climate favourable to agriculture. The principal economic activity is mining as the country has some of the world’s most valuable diamond mines. Minerals account for more than 80% of exports and contribute 2.7% of the GDP. Diamonds have proved as much a curse as a blessing as most of the country’s civil war was attributed to control of mines. It is still recovering from the civil war that destroyed most institutions before ending in the early 2000s. Agriculture (mostly practiced on subsistence scale) employs an estimated 54.4% of the population and contributes 57.4% of GDP. Fishing is also an important part of the economy. Sierra Leone has one of the world largest natural harbours which the government is trying to develop as a hub for international and transit trade for the region. Its economy is still on the road to recovery from the recession caused by Ebola virus between 2014 and 2016. Real GDP grew 5.4% in 2019 having recorded -0.4% compounded annual GDP growth in the past 5 years. It’s currency is the Sierra Leonean leone. Main exports include iron ore, cocoa, coffee, fish, diamonds etc. Major imports include refined petroleum product, foodstuffs, machinery & equipment, chemicals, fuels and lubricants, manufactured goods etc.
Investment Opportunities: Recently, Sierra Leonean government launched the National Development Plan (2019–23) to guide development in the short term, supported by sectoral plans. The National Agricultural Transformation program 2019–23 seeks to double agricultural production by attracting and retaining large investments and helping smallholders transition from subsistence farming. Sierra Leone offers favourable tax rates for key sectors, for instance, tourism investments are exempted from corporate income tax for the first five years and exempted from Pay As You Earn (PAYE) income tax for up to six employees with “non-available skills” for the first three years of employment. Investors in agriculture also enjoy favourable tax rates. Investment opportunities are available in the following sectors: Agribusiness, Energy, Infrastructure, Oil and Gas, Manufacturing, Mineral Resources, Marine Fisheries, Tourism etc.
Invest Sierra Leone – Recommended Contacts in Sierra Leone
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Other Information Sources
Unable to find the information that you require on Invest Sierra Leone? You may want to access the following internet sites to obtain further information on Africa, investing in Africa, African business and African investment opportunities….
African Development Bank: www.afdb.org
African Investments: www.africaninvestments.co
AFSIC – Investing in Africa Event: www.afsic.net
BBC Africa: www.bbc.co.uk/news/world/africa
Investing in Africa: www.invest-in-africa.co
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