Freetown- Thursday, 11th February, 2021
It has come to the attention of the Sierra Leone Investment and Export Promotion Agency (SLIEPA) that several (potential) investors are coming into Sierra Leone to invest and they are not being provided with proper and/or adequate investor handholding services by their local contacts. As usually the case, due diligence is not conducted to effectively screen the (potential) investors to establish their reputation, transparency, strategic alignment to the Government of Sierra Leone objectives/policy direction, readiness, and the sophistication of the potential investment.
Furthermore, these local contacts extort monies from them on the pretext of giving it to Government officials as a way of inducement to expedite the investment facilitation process and getting deals signed. Such dubious act carried out by those persons have the tendency to scare away (potential) investors from investing in the country and undermines the gains the Government has made in reforming the private sector development landscape for economic growth. It also affects the image of the country, especially, at a time when the country is embarking on rebranding efforts to attract investors to create jobs for the young population.
Therefore, the Agency is hereby encouraging all potential investors wishing to invest in Sierra Leone to contact SLIEPA for professional facilitation services.
SLIEPA is the country’s official agency responsible for the co-ordination, promotion and generation of Foreign Direct and Domestic Investments; and the development of Traditional and Non-traditional exports through Product diversification and value addition.
For more information please visit our website: www.sliepa.org or call us on: +232 25 332863