FROM LAST EDITION 3RD AUGUST 2026
With disappointment and disgruntlement, the investors abandoned the site for close to two years with the ore lying waste. The investors had respite only when the International Arbitration Court and a court in England ruled in the company’s favour. Government which cannot compensate the financial loss entered a new agreement with the company, easing cost for the company’s operation, but Sierra Leone’s image has been tarnished.
Quite recently, an agricultural company known as Arise IIP was here in Sierra Leone to industrialize agricultural production, and make the country self-sufficient on food and even export the surplus to other countries. Had everything gone well, the company would have occupied a big portion of land at Mile-36 in Koya Chiefdom, PortLoko district and taken care of the country’s ports and rails and same time invest in agricultural productivity.
It was after the company had gone deep down into the project which it cost huge sums of dollars that government cancelled the project and continued with the Chinese company, Leon Rock. What a big financial loss for an African company that is ready to invest in African countries.
Suffice it to say, investor confidence will be shaken to the core by what many say an erratic behaviour in handling investors. Little wonder that investors are not coming although Sierra Leone needs them at this critical time. Facilitating An Economic Collapse: Sierra Leone’s economy is sickly and underperforming as shown by its indicators: uncontrollable inflation caused by weak exchange rate and bad economic policies, low export, unfavourable terms of trade, balance of payment and budget deficits among others.
Although government officials may play magic with figures, Sierra Leone’s inflation is now a record high marked by two-digit (14.77%) instead of the usual single-digit. Practically, prices of goods and services remain at an all-time high especially fuel (Petrol, Diesel and Kerosene). A litre of Petrol which, is widely used in Sierra Leone, stands at Le33 (thirty-three Leones) and Le40 (forty Leones) in the black market, and the same price goes for other similar products.
But, reports from neighbouring Guinea and Liberia indicate that price of fuel is higher in Sierra Leone than in those two countries prompting the question, ‘why.’ The prices of other goods such personal wearing, building materials and machines especially motor cycles and vehicles are sky-rocketing.
Between 2007 and 2018, the price of a motor cycle hovers around Le 6,000 (six thousand Leones) the equivalent of $300 (three hundred US dollars) its price for now stands between Le25, 000 (twenty-five thousand Leones) and Le30, 000 (thirty-thousand Leones) equal to $1, 500 (one thousand, five hundred US dollars) indicating more than 100% inflation in practical terms.
Most of the businessmen who spoke to this press cast the blame on the weak Leone currency chasing a heavy-weight US dollar. A dealer in motor cycles explained that foreign currency is used in international trade, and it becomes bad for the business community when the value of the local currency remains low. Apart from inflation of weak exchange rate, Sierra Leone’s endemic economic problem is low exports most times in their primary form owing to lack of infrastructure and expertise.
To this day, Sierra Leone still exports rough and uncut diamonds, primary agricultural produce such as Cocoa, Coffee and ginger among others while other countries take finished and industrial products to the world market. As a result, Sierra Leone stands at a wrong end of the global trade since it is a mere price taker resulting into unfavourable terms of trade and balance of payment deficits.
Economists argue that a direct correlation exists between low and undervalued products to the country’s balance of payment and annual budget deficits and low GDP. Every year, Sierra Leone’s deficit budgets is serviced or financed by development partners particularly EU. But, the massive rigging of the June 24, 2023 election has caused them to cut aid off with Sierra Leone’s poor paying the price.
Nurturing Corruption by Safeguarding Sacred Cows:
Although it promised to fight corruption in its two successive manifestoes, SLPP/PAOPA government appears to be one of the most corrupt regimes in Africa. It nurtures corruption within its ranks by keeping sacred cows (corrupt government officials), thus nourishing an impunity culture that is deeply ingrained in the public service. Officials of the Ministry of Basic and Senior School Education are yet to account for huge funds poured into the Free Quality Education project between 2018 and 2023.
The officials have also not explained properly about an alleged fraudulent conversion of hundreds of bags of rice donated by China to Sierra Leone Government to boost the school feeding programme. The Issue of State House officials presenting a counterfeit receipt to hide expenditure for hotel services still remain unresolved. It is captured in the date Audit Report, 2020 and the people of Sierra Leone who are the tax-payers need explanation.
Although it is not set up by law, Office of Sierra Leone’s First Lady has received huge funds from development partners for the implementation of several women and girls’ projects especially the “Hands Off Our Girls,” a project which aims at keeping girls safe from sexual violence and unwanted pregnancies.
When the red flag about corruption in the Office of the First Lady was raised, Sierra Leone’s Anti-Corruption Commission (ACC) was expected to investigate the allegation and bring to justice those responsible for the loot.
However, the ACC chief who promised to make corruption risky and costly looked back at past corruption scheme in the same office to arrest and prosecute Sierra Leone’s former First Lady first, Sia Nyama Koroma before holding Fatima Jabbie-Bio accountable. The ACC’s pronouncement triggered waves of debates and discussions among the public and even diplomatic circles, insinuating double standards on the part of the anti-graft agency.
The ACC however investigated the issue but stopped halfway and referred the matter to another agency, a move that left more questions than answers. The somewhat double standards displayed by the ACC made former US Ambassador to Sierra Leone, Maria Brewah observe that the main aim of the corruption fight is to punish the “old guys,” in this case, the APC.
Alleged Hosting of A Drug Lord:
Deprived of funds by the development partners owing to the unresolved post-election gridlock, Sierra Leone government allegedly turned to drug lords to run the economy. Reports state that Europe’s convicted drug fugitive, Jos Leijdekkers or Bolle Jos is being harboured in Sierra Leone to let him evade justice. To keep its head above waters, Sierra Leone has always denied the allegation, but the arrest of two drug traffickers in Qatar with Sierra Leonean diplomatic passports strengthens Europe’s allegation against Sierra Leone.
The allegations became watertight when subsequent investigation established close clinks between the arrested drug traffickers to Leijdekkers in Sierra Leone. A video footage showing the drug lord sitting close to the first family in a church service in Southern Sierra Leone also forms part of the evidence.
The arrest of Sierra Leone’s Ambassador to Guinea, Alimamy Hassan Bangura in possession of parcels of Cocaine also lent credence to Europe’s allegations against Sierra Leone. Since the issue of drugs came to the fore, there have been sour diplomatic exchanges between Netherlands and Sierra Leone bordering on the extradition of Bolle Jos.
The strained relationship still continues as unofficial sources suggest a prisoner swap for the two countries. Sierra Leone is asking the Dutch government to extradite the social media ventriloquist, Abdul Will Kamara aka Adebayor who has incited several waves of protest in Sierra Leone while at the same time, the Dutch authorities are pressuring Sierra Leone to send home the convicted drug fugitive. The world is watching to see how the two issues would be resolved between the two countries.
Massive Rigging of 2023 Elections:
The weaknesses of the SLPP/PAOPA government put together, produces a cumulative effective of a ‘failed regime,’ and the people speak loudly on June 24, 2023. Resolved to remove the government through the ballot box, the people voted overwhelmingly for the opposition candidate, Samura Kamara, technocrat civilized and strategic politician. The voters endured of the day and the cold of the night to see that Kamara take over State House to turn Bio’s failings into opportunities for Sierra Leone.
The people have confidence in him owing to his contributions to the Ernest Bai Koroma regime which made it highly successful than any other government in Sierra Leone’s political history. Credible sources said Samura Kamara was the brain behind the Agendas for Change and Prosperity between 2007 and 2018 which transformed Sierra Leone’s economy overnight.
It was during his tenure as Minister of Finance that Sierra Leone’s rated the fastest growing in the world, a factor that endeared him to the voters. But, the people’s votes were allegedly massively stolen by the SLPP/PAOPA government to consolidate and tighten their grip on power.
An APC senior politician and former Minister, Kemo Sesay recently accused government of stealing the election in a widely circulated audio. He made it clear that the election results were counted and a winner announced before ballot boxes from the Northwest region were taken to tally centers to form part of the counting.
The situation implies that PortLoko and major towns in the Northwest region were not part of the electoral process. Treading on the same path, Local and international election observation missions also alleged that the election was rigged owing to “mathematical inaccuracy” and “statistical inconsistency.”
Consequently, the opposition candidate, Samura Kamara refused to congratulate the winner, President Bio, but failed to challenge the results at the Sierra Leone’s Supreme Court, the only legal remedy available for a presidential candidate who is dissatisfied with an electoral outcome.
However, a suitable alternative under international law was the Agreement for National Unity signed by the two candidates, Samura Kamara and Julius Maada Bio in October, 2023, giving birth to the Tripartite. The Tripartite Committee, a 21-member body consisting of representatives from government, APC and Development Partners, has the responsibility to investigate the election and proffer recommendations. Work has been completed with 80 convergent recommendations brought within public domain while the divergent five remain in the hands of the international community.
The 80 is yet to be fully implemented let alone the five recommendations which connote accountability through electoral justice. The political gridlock which emanates from the 2023 general elections still persists as the people of Sierra Leone wait to see where it would end.