Sierra Leone’s Chief Minister, Dr David Moinina Sengeh, says stronger economic cooperation among West African countries could help transform the country’s economy, attract investment and reduce its dependence on foreign assistance.
Speaking in an interview with African Business magazine, Sengeh said Sierra Leone was looking beyond its national borders to develop industries, improve infrastructure and create opportunities for businesses across the region.
The Chief Minister expressed confidence that Sierra Leone could achieve its ambition of becoming a middle-income country by 2039, despite continuing challenges involving infrastructure, financing and economic development.
The interview, published on 13 November 2026, comes ahead of the West Africa Integration and Investment Summit, scheduled to take place in Freetown from 16 to 18 November.
The summit is expected to bring together political leaders, investors, financial institutions and business executives to discuss major development projects across West Africa.
Sierra Leone Targets Middle-Income Status
Sengeh said the government was working to improve the business environment and strengthen the implementation of President Julius Maada Bio’s development agenda.
The government’s Big Five priorities include food security, human capital development, youth employment, public sector reform, and technology and innovation.
According to the Chief Minister, improving public service delivery and removing unnecessary administrative procedures are important steps towards attracting investment.
He pointed to efforts to introduce digital services that allow businesses to register, meet regulatory requirements and pay taxes through simplified online systems.
The government has also introduced what Sengeh described as delivery clinics, bringing together ministries, departments and agencies to identify problems affecting government projects and agree on practical solutions.
These meetings focus on removing delays involving procurement, construction and other administrative procedures.
Sengeh argued that government institutions must move beyond setting development targets and focus on achieving measurable results.
Agriculture and Mining at the Centre of Growth
Agriculture remains a major part of Sierra Leone’s economic plans, particularly efforts to reduce the country’s dependence on imported food.
Figures cited in the interview show that rice production increased from 1.31 million tonnes in 2023 to 1.38 million tonnes in 2024.
The share of national rice requirements met through domestic production also reportedly increased from 64% to 72% over the same period.
Sengeh said the country had also made progress in palm oil production, claiming that Sierra Leone had achieved self-sufficiency in the commodity and was exporting palm oil and refined products.
However, increasing agricultural production remains only one part of the challenge, as farmers continue to need reliable markets, storage facilities, processing equipment and transport infrastructure.
In the mining sector, the government wants Sierra Leone to move beyond exporting raw minerals and develop industries that process natural resources locally.
The Chief Minister said closer cooperation with Guinea and Liberia could help countries with similar mineral resources develop shared industrial facilities and infrastructure.
Such cooperation could create opportunities for local processing, manufacturing and employment rather than relying mainly on raw material exports.
Major Projects Attract International Financing
Sengeh highlighted two major investment projects as examples of how Sierra Leone could attract financing for large-scale economic development.
The first is the Baomahun Gold Project, which secured a $330 million senior debt financing package in December 2025 from Africa Finance Corporation and the African Export-Import Bank.
Together with earlier financing commitments, the project has attracted approximately $430 million in African development financing.
The project is expected to become Sierra Leone’s first large-scale commercial gold mine.
He also pointed to the Nant power project, a planned 105-megawatt electricity facility supported by international development financing.
The project secured $292 million in senior debt from the United States International Development Finance Corporation and another $40 million from the ECOWAS Bank for Investment and Development.
Once operational at its planned capacity, the facility is expected to significantly increase Sierra Leone’s electricity generation capacity.
However, the benefits of these projects will depend on successful construction, reliable operations and their ability to support wider economic activity.
Lessons From Other West African Countries
Sierra Leone’s regional investment ambitions come as other West African countries pursue industrial development through infrastructure, energy and manufacturing projects.
In Ghana, efforts to strengthen local manufacturing and agricultural processing have formed part of wider plans to create jobs and reduce dependence on imported products.
Nigeria, the region’s largest economy, has also pursued industrial expansion, including investment in petroleum refining, manufacturing and transport infrastructure.
Meanwhile, Guinea’s mineral resources and Liberia’s mining and agricultural sectors offer opportunities for cross-border industrial cooperation with Sierra Leone.
However, regional trade continues to face obstacles, including poor transport networks, expensive electricity, border delays and limited access to finance.
For smaller economies such as Sierra Leone and Liberia, developing shared infrastructure could help reduce investment costs and make regional projects more attractive to international investors.
Sengeh said electricity connections, transport systems and shipping networks serving several countries could provide greater economic benefits than projects developed by individual countries.
He cited the West African Power Pool as an example of how regional electricity cooperation could improve access to energy.
Freetown to Host Investment Summit
The Chief Minister’s comments come as Sierra Leone prepares to host the West Africa Integration and Investment Summit, an initiative intended to strengthen economic cooperation and attract financing for regional projects.
The summit will focus on energy, transport and logistics, mineral development, agriculture and digital connectivity.
Organisers say the event will connect governments and project developers with investors and development finance institutions.
The initiative also comes as African countries face growing pressure to mobilise domestic revenue and attract private investment amid constraints on traditional development assistance.
Sengeh believes regional cooperation and partnerships with development finance institutions could help countries overcome some of these financing challenges.
But while Sierra Leone is presenting itself as an emerging investment destination, significant obstacles remain.
High electricity costs, limited industrial infrastructure, unemployment and difficulties accessing finance continue to affect businesses and households.
The government’s ambition to reach middle-income status by 2039 will therefore depend not only on attracting major investments but also on whether economic growth improves living standards and creates sustainable jobs.
For Sierra Leone, the Freetown summit provides an opportunity to present its development ambitions to regional and international investors.
The bigger test will be whether the discussions lead to funded projects, stronger industries and economic opportunities that benefit ordinary citizens.
