11/02/2025
*Courtesy Visit by the British High Commissioner to Sierra Leone*
*Date:* 11th February 2025
*Venue:* Ministry of Trade and Industry, Youyi Building
*Introduction*
The British High Commissioner to Sierra Leone, *Madam Josephine Gauld LVO* , paid a courtesy visit to the Honourable Minister of Trade and Industry, Alpha Ibrahim Sesay. The meeting focused on strengthening trade relations, investment opportunities, and addressing key challenges affecting trade between Sierra Leone and the United Kingdom.
*Key Issues Discussed*
_*1. Strengthening Bilateral Trade and Investment*_
• Minister Sesay thanked the British High Commissioner for the visit and highlighted the strong historical and economic ties between the two nations.
• He emphasized the lack of direct flights between Sierra Leone and the UK, which has created barriers to trade and investment.
• He urged revitalization of the trade relationship to enhance business opportunities between the two countries.
_*2. Enhancing Trade Infrastructure*_
• Minister Sesay pointed out challenges in trade facilitation, particularly issues related to Queen Elizabeth II Quay, Sierra Leone’s main port.
• The Ministry has been collaborating with development partners, including the European Union, on a Single Window Initiative to streamline port operations and trade processes.
• He also stressed the need to upgrade the Sierra Leone Standards Bureau testing laboratory to enhance export quality and competitiveness in international markets.
_*3. Formalization of the Informal Sector*_
• Sierra Leone's economy is largely informal, limiting small businesses' ability to compete internationally.
• The Ministry, with support from partners, is working on a formalisation roadmap, particularly focusing on access to finance for SMEs.
• High interest rates from banking institutions remain a major obstacle for SMEs, making it difficult for them to grow.
• The Sierra Leone Economic Diversification Project (SLEDP) is supporting small businesses through matching grants and loans, but long-term sustainable financial support is needed.
_*4. Industrialization and Value Addition*_
• The Ministry is prioritising value addition to local products under the Feed Salon Initiative, which aims to boost agriculture and food self-sufficiency.
• Public-Private Partnerships (PPPs) are being promoted to enhance investment in rice milling and agroprocessing facilities.
• The Ministry is working with ARISE IIP to establish Special Economic Zones (SEZs) for rice milling and agro-processing, which will help reduce smuggling at border crossing points.
• Collaboration with UNIDO has led to the establishment of Agro-Parks, initially in three regions, but now expanded to five regions.
• The "One Factory, One District" policy is being explored to increase local production and job creation.
_*5. Sierra Leone’s Integration into AfCFTA*_
• Sierra Leone is an active member of the AfCFTA and is working towards fully implementing the Guided Trade Initiative (GTI) to enable local businesses to access Africa’s vast market.
• A team from the AfCFTA Secretariat is in Freetown validating the country’s readiness assessment instrument.
• The Ministry is collaborating with Invest Salon to attract foreign direct investment.
_*6. Women in Trade and MSME Development*_
• Deputy Minister Madam Fatmata Kargbo emphasised the importance of women’s participation in trade, particularly in the MSME and cross-border trade sectors.
• She highlighted the need for gender-sensitive policies to empower women entrepreneurs.
*_*7. Institutional Capacity Building*_
• Senior Permanent Secretary, Mr. AL-Hassan K. Kondeh, stressed the importance of capacity-building programs for Ministry staff and agencies in policy formulation, trade facilitation, and investment promotion.
*British High Commission’s Commitment*
Madam Josephine Gauld LVO assured the Minister of continued UK support in areas such as:
o Access to finance for SMEs in Tech and innovation investment
stment in Agro-Industry
o Capacity building for trade and investment promotion
She commended Minister Sesay for his efforts in strengthening Sierra Leone’s trade sector and pledged further cooperation.
*Conclusion*
The meeting underscored the mutual commitment of Sierra Leone and the UK to enhance trade relations, improve infrastructure, and support SMEs and women in business. Both parties agreed to strengthen collaboration and explore opportunities for trade and investment growth.
Elizabeth Kargbo
Information Officer