By Allieu S. Tunkara
Family Kingdom Hotel at Aberdeen in Freetown was visited by merriment the previous Friday as over 50 African-Americans set to invest in various sectors of the economy. Sierra Leone is on the threshold of prosperity as jobs would be created for dozens of jobless youths.
The country stands to witness one of the greatest economic windfalls should the dream of investment be realised. The African-American investors who trace their birth to Sierra Leone were received by the Ministry of Tourism and Cultural Affairs through the Monuments and Relics Commission.
Several important personalities witnessed the ceremony including the Ministers of Tourism and Mines Dr Memunatu Pratt and Timothy Kabba respectively. The Admin Manager of the Monuments and Relics Commission, Ann Marie Kamara was also there, and she appreciated the African-Americans for tracing their root.
“It is important to know your background,” she said.
She entreated them to know the basics of Sierra Leone’s culture by visiting villages, towns and chiefdoms as that would also help them to know areas they may have interest to invest. Mrs Kamara entreated African-Americans to relax and feel at home.
In her address, Minister of Tourism and Cultural Affairs, Dr Memunatu Pratt referred the arduous Journey undertaken by the African-Americans as an expression of great love for their motherland. The coming of the African-Americans was seen as a novelty by the Minister.
“This is the first workshop to be held by the African-Americans, and has put the country in the limelight,” Dr Pratt said.
The Tourism Minister also urged the African-Americans to be proud of Sierra Leone adding that family ties needed to exist between them and the people of Sierra Leone.
“As a ministry, we forge partnerships for development,” she said.
The minister also informed the African-Americans that the country took pride in fine eco-tourism adding that there were vast opportunities for investment.
Warmth, friendliness and fraternity, the Minister said, would make the African-Americans come back to Sierra Leone when they shall have left the country. The Minister also reiterated that the coming home of the diasporans was a huge sacrifice.
In his contribution, the Minister of Mines and Mineral resources, Timothy Kabba informed the African-Americans that his ministry was the breadbasket of Sierra Leone’s economy adding that it had been undergoing massive transformation.
“My aim is to revive the mining sector to make it attractive,” he assured.
As part of his effort to revamp the mining sector, The Minister said he had reformed the Mining Code to increase gains coming into the country. He also assured the African-Americans that Sierra Leone was blessed with one of the best diamonds in the continent.
The Mines Minister made reference to an Afro-American who was here in Sierra Leone in 2014 doing alluvial mining. While he was doing the Mining, the Minister went on, the Afro-American built schools, award scholarships adding that government became attracted to his corporate philanthropy.
Mr Kabba said minerals in Sierra Leone created a complete irony of wealth and poverty, adding that he no longer wanted to see conflict in the sector. He also assured the African-Americans of the resilience of Sierra Leoneans.
“Resilience is what characterise the average Sierra Leonean,” he said.
The Minister assured the investors of government’s cooperation. Chief Executive Officer (CEO) for Corporate Affairs Commission, Prince Williams too assures the African-Americans that it is now easy to do business in Sierra Leone than ever before.
He said the cumbersome procedures one underwent to register a business had been simplified.
“It takes 48 or sometimes 24 hours to register a business in the country,” he said.
He also informed them that a newly registered company is exempted from paying taxes for six months.
“We charge taxes only after you start a business. Our system of taxation is on a fair system,” he assured.
Mr Williams made reference to the World Bank ranking which placed Sierra Leone 55 out of 190 economies for ease of doing business. He also assured them of an on-line registration service urging the potential investors to take advantage of the African continental trade standing at US$2.3 trillion 15% of the US economy.
He also emphasised the importance of the African Free Trade Area as an African is now heading the World Trade Organisation. Several presentations were made by agencies showcasing the country’s sectors of investment.
In his presentation, Director of Sierra Leone’s Export Promotion Agency (SLIEPA), Victor Bangura said Sierra Leone had a lot of untapped potentials and that the country was ready for investment. Bangura also touched on the country’s demographics adding that Sierra Leone had 7.1 million population.
He also said the country had favourable weather condition. The SLIEPA Director also informed the potential investors that the country had duty-free markets making easy for investors to invest.
Other officials from different government agencies made similar presentations all geared towards showcasing the positive side of Sierra Leone.