Sierra Leone and its investment potential
Endowed with abundant natural resources, Sierra Leone offers many investment opportunities that can yield innumerable economic returns which will equally benefit the country and give investors reciprocal satisfaction of their investments.Â For the most part, the countryâ€™s investment climate is comparatively stable and eager to move from the extractives to semi process and processing of final goods.
Agriculture and Agro-Processing
As at now, official government figures have it that only 20% of total arable land (5mn Ha) is under cultivation, a situation that attest to the virgin status of the many investment fronts the country can boas of. Traditional crops grown in the country include rice, cassava, palm fruit, cashew nut, cocoa and coffee Robusta – crops that have almost 100% certainty to thrive and be productive.
Even after almost ten years after the war, coffee production is well below pre-war levels and there is scope to increase local production and export. Markets surveys indicate that Cashew and Ginger production is growing and that exporting of these priced crops has already started with plenty of it making its way into the internal competitive market.
Presently, there is little processing of any agricultural produce. Cassava and Ginger offer strong opportunities in the area of processing but much skim and diversity has not been given it to date. Cocoa processing led to exports of cocoa powder and cocoa butter prior to the war but the plant is now defunct and was reduced substantially during the war years. Only one fully mechanized palm kernel oil mill is in operation. Sierra Leone also produces high quality red Palm Oil. Fruit canning is also a very viable area of intervention as mango juicing and Puree is an easy win. Many other tropical fruit opportunities exist, such as pineapple, banana, plantain and the likes.
Fishing and Fisheries Processing
At present rating, fishing is an estimated $300 million industry in Sierra Leone. Recent reinvestment by Sierra Fisheries has lifted regulation and opened up the EU market opportunity. As a plus, there exist strong shrimp and Tuna opportunities.
Currently, there is $100 million World Bank Project for the establishment of a fisheries harbour. There is also a need for marine surveillance and fisheries protection
Mining and Oil Exploration
The countryâ€™s Kimberlite pipes is currently in production, very viable; Gold, Coltan, Bauxite, Platinum, Iron Ore, according to recent findings, are all available in commercially viable quantities. About three multi national companies are duly interested in the mining of the countryâ€™s iron ore and operations are well underway. Recent explorations by internationally credible companies show that the country has immense oil potential as several off shore oil concessions are now on auction. Oil Storage Tanks and Jetties are available to support Trans Atlantic Traffic. The main port at the Freetown Queen Elizabeth the II Quay is a natural harbour that needs a formidable private sector investment. There is also a secondary port in Gbiniti which is to be privatized and can be used for Cargo to the provinces and mineral exports.
Tourism and Eco Tourism Potential
Sierra Leone is also blessed with 28 miles of gold sand beaches that make the Freetown Peninsula an attractive destination second to none in West Africa.Â Few are available and there are obvious needs for others. Government is open to issuing gaming license; a pleasant plus if the country game potential is taken into consideration.
Stay with Sierra Express Media, for your trusted place in news!
© 2010, https:. All rights reserved.