The Sierra Leone Investment and Export Promotion Agency (SLIEPA) in collaboration International Finance Corporation (IFC) held a two-day consultative meeting on financial leasing with key potential players in the industry such as Banks, Trade Promotion Institutions and Insurance Companies at the SLIEPA office, Tower Hill Freetown on the 13th and 14th February 2018. The meeting was to bring together financial stakeholders to discuss the way forward on the development and eventual roll out of Financial Leasing scheme in Sierra Leone.
The Chief Executive Officer SLIEPA, Mr. Dylan Sogie Thomas, welcomed participants, and briefed them on the mandate of SLIEPA. He expressed SLIEPA’s commitment and support throughout the development and implementation phase of the scheme in Sierra Leone. Mr Sogie-Thomas stated that SLIEPA in the process to roll out the investment perception survey, and Public – Private Dialogue to help investors in setting up their businesses. He emphasized the need for other players such as Accountants, The Sierra Leone Bar Association, and the Stock Exchange to be involved in roll out the scheme.
Mr. Jonathan Gigin from the IFC expressed thanks to SLIEPA for their support to the development of the scheme from inception to date and did a presentation on the rollout of financial leasing schemes in other African countries, and how it can serve as a benchmark or guide for Sierra Leone.
The meeting was climaxed with discussions on how to empower the Small and Medium Entrepreneurs (SMEs) by creating laws and regulations that are flexible for them to participate in the scheme. The Director of Investment Promotion SLIEPA Mr Farrel Elliott concluded the meeting by assuring the participants that their suggestions would be taken to cabinet, and into a bill, then a law; and also a follow up would be made on the existing non-financial banking Policy paper that is currently being carried out by the Bank of Sierra Leone.