Sierra Leone Investment & Export Promotion Agency

10/11/2024

07/10/2024

*NIB PARTNERS WITH UNDP TO END SDG INVESTOR MAP POPULARIZATION IN FREETOWN*

*Freetown, Sierra Leone 3rd. October 2024*:the National Investment Board (NIB), in collaboration with the United Nations Development Programme (UNDP), concluded the popularization and dissemination of the Sustainable Development Goals (SDGs) Investor Map through a Public-Private Dialogue (PPD) held at City Hall, Freetown. This event marked the final phase of a series of sessions that previously covered the Northwest, Northeast, and Southeast regions of the country.

In his keynote
address, Dr. Edward Hinga Sandy, Executive Director of NIB, expressed profound gratitude to UNDP for working with the government to development the SDG Investor Map. The tool identifies four key investment priority sectors: Agriculture, Energy, Health, and Education. It highlights both Investment Opportunity Areas (IOAs) and Emerging Investment Opportunity Areas (EIOAs) aimed at stimulating partnerships between private and public sector to attract investors to the Sierra Leonean market, he said.

Dr. Sandy emphasized the importance of responsible investments and fostering a conducive investment climate. He described the SDG Investor Map as a vital market intelligence resource designed to aid the private sector in identifying investment themes that align with government policies. “These opportunities are situated at the intersection of national development needs,” he noted, highlighting the potential to mobilize private capital to enhance the government’s efforts in achieving the Medium-Term National Development Plan 2024-2030 and the broader SDGs.

The Economic Advisor for UNDP, Mabulara Tsuene, elaborated on the significance of the SDG Investor Map, first launched in Sierra Leone in 2023. She mentioned the crucial role of private sector innovation and financing in driving the SDGs. She pointed out that less than 20% of the SDGs targets have been met globaly, leaving Sierra Leone lagging behind its African counterparts. She advocated for mobilizing both public and private capital to overcome the challenges of financing development and effecting essential transformative changes.

The Development Secretary at the Ministry of Planning and Economic Development, Mr. Sam Kpakra, shared insights on the government's strategy to boost local economic growth. He emphasized an integrated national financing framework that encourages investments from both local and international sources, including the utilization of diaspora bonds. HE highlighted the essential role of the private sector in implementing the SDG Investor Map and meeting the goals of the Medium-Term National Development Plan.

The PPD ended in a panel discussion that addressed the need for enhancing economic growth through the SDG Investor Map. Representatives from the public sector underscored the necessity of improving market access and the investment landscape, particularly for the informal sector, which comprises 90% of businesses. They discussed ongoing challenges related to investment policies and regulatory frameworks, calling for a single-window system to streamline port operations. Progress in stabilizing foreign exchange rates and reducing inflation was highlighted as critical steps towards creating a favourable investment environment.

Meanwhile, the private sector participants advocated for strengthened collaboration with government entities to dismantle barriers faced by informal businesses, especially concerning limited information access. They urged financial institutions to enhance outreach regarding financial inclusion and access to foreign currencies while advocating for policy reforms to better support informal sectors. Furthermore, a more supportive role from the National Revenue Authority was requested, favouring counselling over punitive measures, alongside streamlined processes and clear guidelines for accessing government incentives that would facilitate business engagement and growth.

The successful conclusion of the SDG Investor Map dissemination underscores a collective commitment between the public and private sectors to foster an environment conducive to investment and sustainable development in Sierra Leone.

COMS

03/10/2024

*HAPPENING NOW*

*03/10/2024:* With support from UNDP, the National Investment Board (NIB) is currently hosting a Public-Private Partnership Dialogue (PPD) at the New City Hall, Freetown. The focus is to drive private sector investment in key sectors such as Agriculture, Energy, Health, and Education as identified by the Government of Sierra Leone and UNDP through the SDG Investor Map.

The SDG Investor Map, developed by the Government of Sierra Leone with technical assistance from UNDP, aims to promote Investment Opportunity Areas and mobilize private sector investment to help achieve national development priorities and the Sustainable Development Goals (SDGs).

* COMS*

27/09/2024

*HAPPENING NOW*

*27/9/2024* : with support from UNDP, the National investment Board (NIB) is currently holding a Public Private Partnership Dialogue (PPD) in Bo City to drive private sector investment in Agriculture, Energy, Health & Education through the SDG Investor MAP.

The SDG Investor MAP was crafted by the Government of Sierra Leone with technical support from UNDP to identify Investment Opportunity Areas (IOAs) and Emerging Investment Opportunities Areas (EIOAs) for private sector mobilization and investment in delivering national priorities and the SDGs.

COMS

26/09/2024

*NIB HOSTS PPD ON SDG INVESTOR MAP WITH SUPPORT FROM UNDP*

The National Investment Board (NIB) with support from the United Nations Development Programme (UNDP), has yesterday, 25th September 2024, held a Public Private Dialogue (PPD) on the Sustainable Development Goal (SDG) Investor Map in Makeni City for the Northh West and North East Regions.

The PPD was organized, to not only introduce the SDG Investor Map to private sector players, some regional government institutions and local authorities, but to also have their inputs to the content of the tool.

The SDG Investor Map, being developed by the Government of Sierra Leone, with the support of UNDP, identified four priority investment sectors (Agriculture, Health, Education and Renewable Energy) that have the potential to maximize impacts for sustainable development in Sierra Leone.

While making his Keynote statement, Dr. Edward Hinga Sandy, the Executive Director of NIB, thanked UNDP for their support towards the development and popularization of the SDG investor map. He opined that, NIB was created by an Act of Parliament in 2022 to promote investment opportunities in the country, facilitate investors and improve the overall investment climate.

He further stated that, the tool is a market intelligence tool that helps the private sector to identify investment themes in emerging markets aligned to government policies and national development needs, which hold a significant potential to advance the SDGs and as well containn a range of market-specific investment opportunities for SDG-aligned capital deployment, he said.

According to Mr. Abu Turay, the National Economics Specialist of UNDP, the SDG Investor Map is instrumental in supporting private sector mobilization and delivering national investment priorities and the SDGs. He noted that, the tool utilizes the established market intelligence to achieve SDG enabling capital deployment and ensure inclusive private sector participation and collaboration.

He said that, among other things, UNDP supported the development of the tool because the initiative was aligned with the Sustainable Development Goals or the Sierra Leone Medium Term National Development Plan (SLMTNDP) 2030, which was still the basis for development in all United Nation countries.

The participants appreciated the tool, saying that it was very relevant to improving the country's investment strides towards economic growth. They however, recommended key areas to be included in the content of the tool as emerging investment opportunity areas: poultry and aquaculture, animal husbandry, processing and packaging facility. They also asked for clarification of tax and non-tax incentives and more.

Dr. Sandy, responded to their numerous but relevant questions and concerns, saying they have been taken note off for action.

*@ NIB COMS*

25/09/2024

*NEWS BRIEF*

*HAPPENING NOW*

*25th/9/2024:* the National investment Board (NIB) with support from the United Nations Development Programme (UNDP), is currently holding a Public Private Partnership Dialogue (PPD) at Wusum Hotel in Makeni City. The PPD is geared towards promoting the private sector participation and awareness on the Sustainable Development Goal (SDG) Investor MAP.

The SDG Investor MAP, being developed by the Government of Sierra Leone in partnership with UNDP, has identified four priority investment sectors (Agriculture, Health, Education and Energy) that have the potential to maximize impacts for sustainable development in Sierra Leone.

*@ NIB COMS*

23/09/2024

EMPOWERING WEST AFRICAN BUSINESSES THROUGH DIGITAL CONNECTIVITY: NIB HOSTS BUSINESS MATCHMAKING PLATFORM TRAINING

16th-20th September 2024, Radisson Blu Hotel, Freetown, Sierra Leone: The International Trade Centre (ITC) in partnership with The National Investment Board (NIB), and other partners, has successfully organized a five (5) days training of trainers in Business Matchmaking Platform for Trade Promotion Organizations (TPOs) in Sierra Leone, Ghana, Nigeria, Liberia, and Gambia.

The Platform is part of the West Africa Competitiveness Programme (WACOM), which is coordinated by ECOWAS and funded by the European Union. It was designed to provide businesses within the ECOWAS region with a user-friendly, multilingual digital space to connect, advertise services, and engage in real-time communication. It supports businesses to overcome language barriers through automated translation in English, French, and Portuguese.

In his opening remarks, Dr. Edward Hinga Sandy, Executive Director of NIB, welcomed all participants and said that the platform was a way of taking advantage of the trade opportunities in Africa such as the African Continental Free Trade Area (AfCFTA), the African Growth and Opportunity Act (AGOA) etc. He emphasized NIB’s commitment to ensuring that businesses in Sierra Leone are equipped with the tools, knowledge, and skills necessary to expand and thrive.

In her remarks, Anna Jankowska from ITC, emphasized the critical role the platform plays in supporting businesses. She said the training was an essential part of ITC’s mission to help businesses across West Africa to connect, collaborate, and flourish in a competitive global environment.

CEO of SLIEPA, Sheku Lexmond Koroma, commended the organizers for the initiative and assured attendees of full institutional support. He encouraged TPOs to maximize the benefits of the training to foster growth and collaboration across the region.

Representing the European Union, Nicolas Kutin lauded the initiative as a crucial step towards overcoming the obstacles that have long hindered regional trade. He noted that the Business Matchmaking Platform provides a digital bridge for businesses, helping them connect more easily and navigate cross-border challenges.

Sarah Akpofure from ECOWAS commended the government of Sierra Leone for hosting the training and emphasized the platform’s role in fostering regional economic integration. She stressed that the Business Matchmaking Platform is designed to empower businesses, strengthen partnerships, and contribute to the growth of intra-regional trade, ultimately driving economic development across West Africa.

The five-day training culminated with Trade Policy Organizations (TPOs) successfully training over 50 businesses in Sierra Leone. Participants were taught how to create profiles, navigate the platform, and leverage it to grow their businesses and access new markets. The platform now stands as a vital tool for businesses in Sierra Leone to expand their network and prosper in the broader ECOWAS region.

Comms

16/09/2024

*NEWS BRIEF*

*HAPPENING NOW!!*

*16th/9/2024* In Partnership with the National Investment Board (NIB) and other partners, the International Trade Centre (ITC) is currently having a Training of trainers (TOT) in Business matchmaking platform at the Radisson Blu Hotel in Freetown, Sierra Leone.

The Business Matchmaking Platform is part of the West Africa Competitiveness Programme, funded by the European Union.

The platform is to strengthen business networks across West Africa and support the development of regional value chains, by assisting firms to have an easy-to-use online platform where all firms can connect, advertise their services and products, and chat in English, French, and Portuguese via automated translation

*NIB-Comms*

28/08/2024

*NIB ORGANIZES STAFF PERFORMANCE APPRAISAL TRAINING*

The National Investment Board (NIB) has on the 28th August 2023, trained its staff on *Individual Performance Appraisal Systems (IPAS)* at 9 Lamina Sankoh Street, Freetown.

The initiative was aimed at enhancing staff with the necessary skills and knowledge to become productive and efficient in their respective roles, thereby driving the overall success of the organization.

In his welcome address, the NIB’s Executive Director, Dr. Edward Hinga Sandy, urged the staff to fully engage themselves with the training, emphasizing its value as a vital learning process. He highlighted the importance of continuous professional development and encouraged all participants to seize the opportunity to improve their performance and contribute effectively to the Board's mission.

Representing the Human Resources Department of NIB, Mariama Mansaray, stressed on the critical importance of the IPAS training in expediting staff performance and efficiency. She pointed out that, mastering these appraisal systems would not only enhance individual productivity but also motivate and align the efforts of all employees with the broader objectives of the NIB.

Cherinor I. Mansaray, Director of Performance at the Human Resources Management Office (HRMO), provided an in-depth presentation on the fundamentals of performance management. He elaborated on the core principles and values underlying the IPAS, emphasizing how these systems are designed to promote accountability, transparency, and continuous improvement within the organization.

During his presentation, Swarray Junisa, Deputy Secretary for Performance Management at HRMO, focused on the five essential characteristics of effective goal-setting. He explained the importance of setting targets that are Specific, Measurable, Achievable, Realistic, and Time-bound (SMART), noting that the said attributes are crucial for driving meaningful and sustainable progress in any organization.

The training was concluded with an interactive question-and-answer session, where staff had the opportunity to clarify their doubts and gain further insights from the facilitators.

*NIB COMMS*

27/08/2024

*NIB ENGAGES MDAs ON DRAFT AGREEMENT WITH SIERRAAQUA LIMITED*

Tuesday, 27th August 2024, 9 Lamina Sankoh Street, Freetown, The National Investment Board (NIB) has convened a meeting with various Ministries, Departments, and Agencies (MDAs) to review the draft agreement between the Government of Sierra Leone and SIERRAAQUA LIMITED.

This agreement outlines SIERRAAQUA’s proposal to establish a large-scale, sustainable, multi-species aquaculture production facility in Bonthe District, specifically within the chiefdoms of Sutta, Gbap-Nongo Babulom, and Dema. The project plans to produce Tilapia, Shrimp, and Algae (Seaweed), focusing on sustainable practices and value addition.

In his opening statement, Dr. Edward Hinga Sandy, Executive Director of NIB, welcomed the attendees and underscored the critical need for sustainable and impactful investments to support Sierra Leone's National Development Plan. He emphasized that, public finance alone could not meet the country's development goals and that private sector investments, such as the proposed SIERRAAQUA project, would be essential for job creation and economic growth. Dr. Sandy also highlighted the importance of value addition, to move the country beyond mere cultivation to processes that enhances economic value of products, citing examples of companies already engaged in such activities.

The Deputy Minister of Agriculture 1, Dr. Theresa Dick, reiterated the significance of the SIERRAAQUA investment, noting its alignment with the government's "Feed Salone" initiative. She pointed out that this project will not only boost food security but also create substantial employment opportunities. He encouraged all participants to thoroughly review the draft agreement and contribute their insights to ensure a balanced and mutually beneficial outcome.

During the session, the team meticulously examined the draft agreement, discussed each clause to fully understand the company's intentions and the necessary provisions for a successful partnership. The goal was to craft an agreement that would benefit both the Government of Sierra Leone and SIERRAAQUA LIMITED.

The meeting concluded with significant progress made on most aspects of the agreement, while some sections were referred for further deliberation to ensure a comprehensive and effective partnership framework.

*NIB-COMMS*