Foreign direct investment potential is unrealized

Sierra Leone has enormous potential for attracting foreign direct investment. Pre-conflict levels when inflows exceeded $100 million (1986), and although improved economic conditions since the civil war ended in January 2002, along with greater political stability and a more forward-looking government policy, have led to some new foreign investment, level s are still well below their potential based on unmet local demand, access to markets, and availability of opportunities.

During 2000–05, FDI averaged only $18 million a year, reaching the highest level in 2007 at $81 million.

Foreign direct investment in selected West African countries, 2004–07 (Millions of U.S. dollars)

Country 2004 2005 2006 2007
Ghana 139 145 636 855
Burkina Faso 14 34 34 600
Guinea 98 105 108 111
Sierra Leone 61 83 59 81
Senegal 77 45 220 78
Togo 59 77 77 69
Benin 64 53 53 48
Niger 20 30 51 27
Source: UNCTAD, World Investment Report 2008

Most post-conflict FDI has gone to the extractive industry and telecommunications; however, increasingly, investors are focusing on other sectors, for example, are exploring opportunities in agribusiness, manufacturing and tourism.

Below is a list of selected major foreign companies with current operations in Sierra Leone.

Company Sector
Access Bank Financial Services
African Minerals Mining
Africell Telecommunications
BMI Airline Transportation (Linked with Tourism)
Comium Telecommunications
DHL Logistics
EcoBank (SL) Ltd. Financial Services
Heineken (joint venture with Sierra Leone Brewery Ltd.) Food and Beverages
Koidu Holdings Mining
Maersk Line Freight Services
Leocem (Sierra Leone Cement Company) Cement Production
London Mining Mining
Regimanuel-Grey Construction
Sierra Rutile Ltd Mining
SN Brussels Airlines Transportation (Linked with Tourism)
Standard Chartered Bank Financial Services
Tigo Telecommunications
United Bank for Africa Group Financial Services
Zain Telecommunication
Zenith Bank Financial Services