Sierra Leone’s vision for the next two decades is to become a middle-income country. The country aims to be an inclusive green country with ¾ of the population above the poverty line, to have gender equality, a well-educated and healthy population, good governance and rule of law, well-developed infrastructure, macroeconomic stability and export-led growth generating wide employment opportunities. Sierra Leone’s government additionally aims to implement good environmental protection as well as responsible natural resource exploitation.
Economic growth will be determined by the success of businesses and industries comprising of a supportive business environment, good institutional framework, adequate infrastructure, access to credit, and availability of skilled labour. Because the country will need significant foreign direct investment, the nation aims to be competitive on an international scale.
The country is now embarking on social and economic development and as a result the country is anticipating rapid growth in minerals production and export which should provide resources to help transform the country.
Mining in Sierra Leone
The National Minerals Agency aims to successfully implement detailed sector strategies to ensure the country benefits from exploitation and minimises negative impacts. As well as larger-scale mines, strategies focus on the regulation and efficiency of artisanal mines.
Oil & Gas in Sierra Leone
Oil and gas exploration in Sierra Leone is encouraging; commercial production could be developed shortly. The country’s government is putting in place an institutional and fiscal framework which will regulate the industry and ensure that Sierra Leone benefits transparently from oil and gas activities.
Banking in Sierra Leone
Sierra Leone will draw on its natural resource endowments as the driver of the economy, aiming to be a model in responsible natural resource exploitation, with revenues directed at transforming and developing the country in a framework of sustainable environmental protection. The currency used is Sierra Leonean leone.