Newsletter November, 2016 Edition In this issue FROM THE DESK OF THE CEO IFC, SLIEPA Sign Agreement to Promote Leasing Industry in Sierra Leone. Mr. Raymond Kai Gbekie Since the beginning of this year, the Agency set itself goals and a new path to tread starting with the development of a three-year strategic plan (2016-2019) with a strong support and guidance from our Board of Directors. Our strategic plan forms the bedrock and the roadmap to achieving our mandate and placed in a better position to service our stakeholders across the board. We believe that the engines of growth are no longer steam-powered. Instead, collaboration and partnership have taken its place, becoming the driving force behind new developments. Our upcoming activities will showcase and explore what is possible when new ideas and people connect. Our {SLIEPA} role in the coordination of the Growth Sector as part of the Performance Management and Service Delivery (PMSD) machinery has been commendable, more remarkable and worthy of emulation, especially with the great support received from other sector players in providing smooth investor facilitation and handholding services for our investors. We have also intensified our investor relationship management (aftercare services) to our existing investors over the past months. This is to understand investor issues and through the third Party initiative and sector approach address those issues as part of our recovery programme. As we continue to support export value chains and attract Foreign Direct Investments into our country, so are we also passionate and forward driven in supporting our local private sector by creating more opportunities for joint ventures, access to affordable finance and capacity building opportunities ranging from the Dutch financial Instruments, investment and trade missions facilitated, to PUM expert training opportunities extended to our Small business entrepreneurs. To further enhance our export competitiveness, we are collaborating with the Commonwealth Secretariat through their grant support to implement the already concluded research on the packaging needs study. We are also working with the Ministry of Trade and Industry to revitalize our African Growth and Opportunity Act (AGOA) strategy in a bid to help facilitate more trade with the United States of America. In addition to currently implementing the Institutional Feeding and Market Linkages Sub Initiatives under the Private Sector Component of the 12-24-month Presidential Recovery Priorities which will be targeting 1000 SMEs including agribusinesses, SLIEPA is also leading the Growth Sector which is a group of government agencies and departments with a strategic mandate that can contribute to macro-economic growth and World EXPO 2020 in the realization of the Agenda for Prosperity. Let me end by expressing our most sincere thanks on behalf of the Board of Directors, Management and staff of SLIEPA to H.E the President Dr. Ernest Bai Koroma and the Government of Sierra Leone and our Partners, especially the World Bank, European Union, International Finance Corporation, Islamic Development Bank, etc. for their support in enhancing SLIEPA to reach this far. We will from time to time engage you further to discuss synergies to develop our private sector. The President s Recovery Priorities. SLIEPA Board Chair at the Second Investing in Africa Forum. Dole's senior vice President - Danko Stambuk visits Sierra Leone. The Commonwealth Secretariat supports export packaging. South Africa Investment Mission visits Sierra Leone. SLIEPA holds third party investment round table. 100 SME s trained on Market Access and Value Chain Development. Reasons to invest in Sierra Leone.
IFC, SLIEPA SIGN AGREEMENT TO PROMOTE LEASING INDUSTRY IN SIERRA LEONE. The International Finance Corporation (IFC), a member of the World Bank Group, signed a Cooperation Agreement with the Sierra Leone Investment and Export Promotion Agency (SLIEPA) on Thursday 27th October 2016 at the Bintumani Hotel Aberdeen Freetown to promote leasing as an alternative financing solution for micro, small, and medium enterprises in Sierra Leone. SLIEPA Board Chair Oluniyi Robbin- Coker signing Agreement with IFC Resident Representative in SL Frank Ajilore Access to finance remains one of the major challenges facing smaller businesses that dominate Sierra Leone. To address these constraints, IFC will provide expert advice and support SLIEPA in developing and establishing a viable leasing industry. SLIEPA s Farrel Elliott -Director of Investment Promotion moderating the Forum The Cooperation Agreement was signed at the end of a half-day Leasing Investment Forum organized by IFC and SLIEPA that showcased opportunities for investing in the leasing sector in Sierra Leone. The Agreement was signed by Mr Oluniyi Robbin- Coker, Chairman SLIEPA Board of Directors and Mr Frank Ajilore Resident Representative, IFC Sierra Leone. Over 80 participants attended the event, including representatives from the World Bank Group, the Government of Sierra Leone, the private sector, as well as leasing experts and investors from Ghana, Nigeria, Tanzania, and Europe. The objective of the forum was to highlight opportunities in the leasing sector in Sierra Leone THE PRESIDENT S RECOVERY PRIORITIES INSTITUTIONAL FEEDING SUB INITIATIVE CHAMPIONED BY SLIEPA The President's Recovery Priorities are a multi sectoral programme of investments and activities focusing on education, energy, governance, health, private sector development, social protection and water and are intended to drive sustainable socio-economic transformation in Sierra Leone after the twin shocks of the Ebola Virus Epidemic and falling commodity prices. Mr. Robbin- Coker in warm handshake with Mr. Frank Ajilore of IFC SL Within the framework of Private Sector Development, there are several initiatives driven by the Ministry of Trade and Industry and its agencies with a key objective to support and grow 1000 MSMEs. A key sub initiative to support this objective Increase the quantity of locally sourced crops in institutional feeding contracts.
SLIEPA was chosen by the MTI to drive the Institutional Feeding Sub Initiative as it is aligned to aspects of its 2016-2018 strategic plan which focus on creating linkages between farmers and agribusinesses along agricultural value chains to domestic and international markets as well as supporting value addition activities to promote competitiveness. Since June, SLIEPA and other stakeholders have: Undertaken capacity assessments of several commercial rice milling/processing facilities in the country. Institutional feeding refers to the provision of food items to institutions such as the police, military, correctional service, and schools, paid for from Government s Consolidated Fund or otherwise provided as bilateral aid from Development Partners. Increasing the quantity of locally sourced crops, namely rice, in institutional feeding contracts presents many advantages, including: Deputy Minister, Ministry of Trade and Director Export Development inspecting rice processing facilities in Mambolo Opening up the domestic market for local rice. Giving a boost to local private sector and creating jobs. Reducing the proportion of imported rice. Reducing the government s use of foreign currency. Improving the food security and nutrition of local communities. The Local Content Act provides for consideration to be given to locally produced food products for supply to public institutions. In the context of the President s Recovery Priorities, The Ministry of Trade & Industry (MTI) is working with the Ministry of Agriculture, Forestry and Food Security (MAFFS) to add value to Sierra Leone s farm products and find new markets for them, notably by increasing the quantity of locally sourced crops for security forces and other public institutions (e.g. army, police and prisons). Facilitated a dialogue among local rice processors and with the targeted institutions. Assessed the quantity/quality requirements of the institutions. In 2017, 10% local sourcing is being considered for targeted institutions, and gradually more in the following years if this initiative is successful. Incremental targets will need to be based on a concurrent analysis of the impact for rice imports and domestic market consumption. SLIEPA BOARD CHAIR MEETS WITH WORLD LEADERS AT THE SECOND INVESTING IN AFRICA FORUM SLIEPA Board Chair Mr. Oluniyi Robbin-Coker with world leaders at the forum.
World leaders, international institutions, and company representatives 2nd Investing in Africa Forum are calling for innovative ways to rejuvenate economic growth, which coincides with China s prescription for the world at the recent G20 summit. The China-Africa collaboration is moving beyond infrastructure development to more at the industrial development. We are looking at how Chinese entities may begin to put industrial facilities and help Africa develop its own production capacity, which is very important, said Oluniyi Robbin-Coker, Chairman of the Board at Sierra Leone Investment and Export Promotion Agency. Robbin-Coker said that Sierra Leone can learn from China s successful experience in transforming from a labour-intensive processing model to more industrial kind of processing model, and the transfer of technology, skills, and knowledge from China to Africa is a win-win. Innovation needs to take place on the continent, it s critical to borrow best practices and technology from other countries, said Robbin-Coker. For Robbin-Coker, the Investing in Africa Forum itself is a sign of openness and inclusiveness that China tries to promote. At the forum, leaders from African countries are sending a collective message to their Chinese friends. DOLE'S SENIOR VICE PRESIDENT - DANKO STAMBUK VISITS SIERRA LEONE SIERRA Tropical Limited (STL) a subsidiary of Dole Packaged Foods (LLC) is one of the most recent Investments facilitated by SLIEPA into Sierra Leone with planned investment in the agri-business sector. The Pineapple, Papaya and Passion fruits project will be located in Lugbu Chiefdom, Bo District, in the Southern Part of the country. A delegation headed by the Senior Vice President, Worldwide Manufacturing and New Business Development Mr. Danko Stambuk arrived in Freetown over the weekend to further engage stakeholders in a bid to actualize the investment in the country. Danko Stambuk and team in discussion with SLIEPA Board Chair and management team Welcoming Danko Stambuk and his team at SLIEPA on Monday the 22nd August 2016, The Chairman Board of Directors of SLIEPA Mr. Oluniyi Robbin-Coker expressed thanks to the team for their continued interest in investing in the country. He further stated that this investment was particularly of interest to the Government of Sierra Leone as it supports the President s Recovery Priorities in the Private Sector. The CEO of SLIEPA, Mr. Raymond Kai Gbekie thanked the team for the job creation component as already the company has employed at least one hundred (100) Sierra Leoneans in the Nursery plantation. Mr Farrel Elliott, Director of Investment Promotion confirmed the series of meetings organized by SLIEPA with other stakeholders in a bid to facilitate the speedy actualization of the Investment. Already SLIEPA has facilitated series of community engagements and sensitization meetings within the community to be fully aware of the project. Mr. Danko was very thankful to SLIEPA for having been very supportive of their Project since they started the entire process of investing in Sierra Leone. He further reiterated their company s commitment to invest in Sierra Leone and gave an update of the company s activities so far and those that are planned for in the short to medium term, as well as the longer term. Meetings are already on the way with key Government Ministers and local authorities both at District and chiefdom levels as part of SLIEPA s procedure in facilitating land investments in the country.
SLIEPA PARTNERS WITH COMMONWEALTH SECRETARIAT ON EXPORT PACKAGING The Sierra Leone Investment and Export Promotion Agency (SLIEPA) in partnership with the Common Wealth Trade Competitiveness Sector has organized a one day consultative forum for the private sector on export packaging at the Hub hotel Wilberforce in Freetown. The objective of the consultation according to the Director of Export Development Shiaka Kawa of SLIEPA is to engage Small and Medium Enterprises especially manufacturers of local products to make their inputs into the strategic action plan on export packaging. He said due to poor packaging of local products most businesses have not been able to compete with the regional and international markets. CEO of SLIEPA Raymond Gbekie making a statement He said the strategic action plan will help to put in place the required policies and regulations on export packaging of Sierra Leonean products. The Chief Executive Officer of SLIEPA Raymond Gbekie applauded the commonwealth secretariat for their continued support towards the promotion of private sector development in Sierra Leone. He said SLIEPA welcomes the initiative and encouraged local manufacturers and SME s to improve on packaging of their products for markets and also spoke about the quality of the products. He said the aim of the strategic plan is to provide a guide line for packaging of local products so as to enhance investment in the sector. Acting Chief Director of the Ministry of Trade and Industry Charles Mereweather Thompson said export packaging is crucial in marketing of products to attract customers. He said the Ministry is committed and determined to support the sector as manufacturers and agro processing businesses lack a comprehensive export packaging practice. He said packaging play an important role in influencing choice of customers on products for the domestic and International markets. He said packaging has a viable potential in business but the sector is underutilized and called for upgrading of packaging of products especially for export. Mr Thompson said we are excited about the packaging action plan and called for the establishment of a packaging industry in Sierra Leone so as to upgrade from the traditional way of packaging. A power point presentation on the strategic action plan on export packaging by Treglor Global Consult E Mante and B James highlighted the role of Small and Medium Enterprises (SME s) in packaging of products. He said export competitiveness requires SME s to be knowledgeable in International markets for changing market trends. He said currently Sierra Leone has 457 independent value chain sectors that need to improve on packaging of their products. Majority of the SME s are in Agri-processing, fish processing, light manufacturing and service providers, noting that the food industry forms the highest number of SME s investment. He said in Sierra Leone plastic materials are used as the bulk of packaging of products and spoke about the need to adopt sacks and paper bags in future. He concluded that the strategic action plan on export packaging will last till 2025 with medium and long term plans and spoke about the need for graphic artists to be trained as product designers in Sierra Leone. SLIEPA FACILITATES SOUTH AFRICA INVESTMENT MISSION TO SIERRA LEONE A high powered investment delegation from the Republic of South Africa are in the country to strengthen bilateral
trade and investment between the two countries for economic growth and sustainable development facilitated by the Sierra Leone Investment and Export Promotion Agency (SLIEPA). A brief meeting was held at the conference room of the Ministry of Trade and Industry at Youyi Building Brookfield in Freetown. Cross-section of the South African investors and government officials Minister of Trade and Industry Momodu Pat Sowe welcomed the delegation and spoke about the impact of Ebola on trade and investment in the country and assured the Trade Delegation of collaboration and partnership in promoting trade and investment. We must develop industrialists in Africa in energy, agriculture, tourism and we are going to support post ebola recovery by laying the foundation for a strong cooperation. The South African High Commissioner to Sierra Leone resident in Ghana Madam Lulu Xiangwala expressed gratitude for the continued relationship since the struggle against apartheid. She said we will not rest until Africa is free from the evil of poverty, unemployment and disease by taking the continent forward to empower people economically. The Chief Executive Officer of the Sierra Leone Investment and Export Promotion Agency (SLIEPA) Raymond Gbekie highlighted investment potential of the country that the South Africans can explore for trade and investment. He said investment reforms have been made and currently there is a 24hrs business service and registration process facilitated by the Corporate Affairs Commission. The General Manager of National Tourist Board Yassin Kargbo also spoke about the tourism potential of Sierra Leone especially Lumley beach where they are looking for investment partners. SLIEPA HOLDS THIRD PARTY INVESTMENT ROUND TABLE The Sierra Leone Investment and Export Promotion Agency (SLIEPA) on Tuesday the 7th September 2016 hosted a round table discussion seeking to bring together various actors in the Ministries, Departments and Agencies (MDA) to map out strategies and assign responsibilities for relevant actions in order to address investment difficulties and to establish a collaborative bridge that will link relevant MDAs. Mr. Farrell Elliott Director of Investment Promotion at SLIEPA stated in his remarks we are identifying focal person in each sector in Government to facilitate investment into the country. He said with a Memorandum of Understanding between SLIEPA and other sectors in Government we will be able to share information with other sectors so that investors will be well informed about investment related issues. MDA s made commitment to establish an investment focal person in all sectors for sharing of information on investment opportunities in Sierra Leone. Victor Bangura Investment Promotion Manager at SLIEPA in his presentation explained about SLIEPA s role and mandate and also spoke about the need to map and assign different responsibilities to address investment issues with maximum collaboration on investment promotion. The meeting was well attended with some heads of institutions and focal persons appointed in their respective institutions. Farrel Elliott DIP SLIEPA chairing the discussion.
ONE HUNDRED SME S TRAINED ON MARKET ACCESS AND VALUE CHAIN DEVELOPMENT products competitive in both the local and international markets. The training he went on is part of SLIEPA s mandate in providing support especially to agribusiness SMEs and encouraged them to produce new products with export potential and value added that will facilitate quick market access and promote trade in and out of the region. The participants were trained on product development, product packaging, value addition, standards compliance and certification schemes. A total of 50 SMEs were trained each in Makeni and Bo respectively. The participants received certificates of participation at the end of the training sessions. SMEs receiving certificates after training The Sierra Leone Investment and Export Promotion Agency (SLIEPA) organized training sessions in Makeni (16th-17th) and Bo (23rd- 24th) for SME s and producer groups engaged in activities along the export value chain on markets access, product development, certification schemes, and value chain development. The opening session of the trainings were graced by Senior state and local Government dignitaries in the respective locations who made statements on behalf of Government. Mr Shiaka Kawa Director of Export Development SLIEPA encouraged the participants to take advantage of the training as this is a crucial element in enhancing their capacity to develop products in compliance with recognized certifying bodies that will make these SMEs pose for a group photograph
WHAT OUR STAKEHOLDERS SAY ABOUT US: Was impressed with how professionally SLIEPA carried out the entire undertaking. They deserve to be commended from the initial letter to the confirmation phone call, to the follow-up with clarifications that were requested to the smooth presentation. - by Edward Davies and Associates. REASONS TO INVEST IN SIERRA LEONE Attractive fiscal and non-fiscal incentives. Easy access to land with smooth facilitation process. Strong opportunities for large scale investment in agribusiness. A stable political environment. Natural harbour and a reputation for friendliness and hospitality of the people of Sierra Leone. Duty- free access to lucrative markets ( USA -AGOA,EU EBA and ECOWAS). Favourable labour conditions. Strategic global positioning. CONTACTS: HEAD OFFICE- O.A.U DRIVE, TOWER HILL, FREETOWN MAKENI TOWN HALL, STATION ROAD, MAKENI HOSPITAL ROAD, KORTIGBUMA SECTION, BO TELEPHONE- +232 25 233 863 EMAIL: info@sliepa.org WEBSITE- www.sliepa.org