SLIEPA Launches Initiative to Bring 25,000 New Agriculture Jobs to Sierra Leone

Freetown, Sierra Leone, 10 February 2010 – In support of the President’s ‘Agenda for Change’, the Sierra Leone Investment and Export Promotion Agency (SLIEPA), together with the Ministry of Agriculture, Forestry and Food Security and the Ministry of Trade and Industry has developed a three-year strategy to bring new investors to Sierra Leone, with particular emphasis on the Palm Oil and Sugar sectors. The target is to create 25,000 new jobs as well as to support a further 25,000 independent farmers who will supply the processing units created by these investors.

“Detailed analysis reveals that our country offers particularly attractive conditions for cultivating and processing sugar and oil palm, both for food and bio-energy. This combined with growing regional and international demand for sugar, palm oil and bio-fuels means that Sierra Leone has a tremendous opportunity not only to attract new investment and reduce food imports, but also to produce sustainable energy that will ensure adequate supply for all and, in the long term reduce prices,” stated the Honourable Minister for Agriculture, Forestry and Food Security, Dr Joseph Sam Sesay. The Minister also noted that with over 5.4 million hectares of uncultivated agricultural land available in Sierra Leone, there was no risk of sugar and oil palm investors depriving farmers of land on which to grow other essential foods such as rice.

The Honourable Minister for Trade and Industry Mr David Carew stated that the strategy will build on the success of the Sierra Leone Trade and Investment Forum, held in London late last year. It also builds on the recently confirmed $400 million sugar investment by ADDAX which demonstrates that Sierra Leone now has the right conditions to attract substantial foreign investments.

SLIEPA’s international and local consulting team, funded by IFC and led by Mr Simon Bell together with Dr Dunstan Spencer, an eminent Sierra Leonean agricultural consultant based in Freetown, presented its strategy to a distinguished audience of invited guests from the Government, the Diplomatic Corps, members of the Donor Community and a number of private sector investors in Freetown on Wednesday 10th February 2010.

Patrick Caulker, CEO of SLIEPA noted that the strategy includes an action plan to contact leading investors from around the globe and to provide them personally with detailed information about the tremendous opportunities and hospitable business environment offered by Sierra Leone. “We will be contacting over 100 investors and trade organisations in countries such as Brazil, India, Mauritius, Indonesia and South Africa in the next few months,” He concluded the meeting by urging all present to support the strategy in any way they can, to make sure that Sierra Leone achieves these ambitious targets.

Check out investment opportunities in Sugar and Oil Palm.

About SLIEPA
The Sierra Leone Investment and Export Promotion Agency (SLIEPA) is the country’s official agency to assist and inform investors and exporters. SLIEPA was established by an act of parliament in 2007. SLIEPA provides free facilitation support in promoting private sector investments in Sierra Leone and in building public private partnerships.

SLIEPA offers:

• A quick, 24-hour response service to all investment and export related enquiries
• Relevant, regularly updated information pertinent to investors and exporters
• Tailored investor visits to Sierra Leone and aftercare services
• Market intelligence for potential investors, importers and exporters
• Export facilitation and special services

SLIEPA is governed by a board of directors, which consists of a chairman appointed by the President along with nine directors from both the public and private sectors. The chief executive officer is responsible for the day-to-day management of the agency and is appointed by the board and approved by the Ministry of Trade and Industry. For more information about SLIEPA, visit www.investsierraleone.org.
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For further information on SLIEPA’s investor outreach initiative please contact:
Patrick Caulker
Chief Executive Officer
Sierra Leone Investment and Export Promotion Agency (SLIEPA)
Telephone: +232 76 333111
Email: pcaulker@sliepa.org