Foreign Direct Investment

(Sliepa source)

Foreign Direct Investment Potential is on the Move

Sierra Leone has made tremendous strides to attain its full economic potentials through successive governments between 2000- to date by attracting foreign direct investment. Pre-conflict levels when inflows exceeded $100 million, 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.

Between 2009 –2012, Sierra Leone has been a destination of choice for foreign direct investment, thanks to the implementation of policies by the Government to strengthen good public financial management and accountability. Foreign direct investment has increased from $110 million in 2009 to $740million in 2012. Sierra Leones economy is expected to grow by 14.5% in 2014 the fastest in the West Africa sub region.

FOREIGN DIRECT INVESTMENT ( Millions of Dollars & Percentages ) FDI Flows 2009 2010 2011 2012 Sierra Leone 110 238 715 740 Guinea 141 101 956 744 Nigeria 8650 6099 8915 7029 SOURCE: UNCTAD, World Investment Report 2013

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 Standard Chartered Bank                    Financial Services United Bank for Africa Group                    Financial Services Zenith Bank                    Financial Services EcoBank (SL) Ltd.                    Financial Services Skye Bank KeyStone Bank ICBank GTBank Airtel                    Financial Services                    Financial Services                    Financial Services                    Financial Services                    Telecommunication Africell                        Telecommunication Comium                    Telecommunication London Mining                    Mining Octea Mining                    Mining African Minerals                    Mining CLUFF Gold Sierra Rutile Kenya Airways British Airways     SN Brussels Airlines                    Mining                    Mining                    Transportation(Linked with Tourism)                    Transportation(Linked with Tourism)                    Transportation(Linked with Tourism) Royal Air Maroc                                                                     Transportation(Linked with Tourism) Leocem (Cement Company)                    Cement Production Regimanuel-Grey                    Construction Maersk Line                    Freight Services DHL                    Logistics Bollore Heineken (joint venture with Sierra Leone Brewery Ltd.)                    Logistics                                      Food and Beverages ADDAX Bio Energy                                                        Energy JOULE Africa                                                                  Energy Geoff Palm                                                                       Agriculture Tropical Farms                                                                Agriculture Africa Cocoa                                                                    Agriculture SIVA Group                                                                     Agriculture         Gold Tree                                                                          Agriculture                                 Socfin                                                                                Agriculture Ned Group                                                                        Agriculture