1 / 10

INVESTING IN SIERRA LEONE Spotlight on Agriculture

INVESTING IN SIERRA LEONE Spotlight on Agriculture. Hon. Joseph Ndanema , Minister of Agriculture and Forestry June 2019 UK – SL Trade and Investment Conference. Sierra Leone can be your main partner to tap into Africa’s huge growth potential in agriculture.

scornett
Download Presentation

INVESTING IN SIERRA LEONE Spotlight on Agriculture

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. INVESTING IN SIERRA LEONESpotlight on Agriculture Hon. Joseph Ndanema, Minister of Agriculture and Forestry June 2019 UK – SL Trade and Investment Conference

  2. Sierra Leone can be your main partner to tap into Africa’s huge growth potential in agriculture GDP and main products, per district: Agricultural growth: 5% last 5 years 50% of GDP The darker shade, the higher is this district’s GDP (excluding mining) Fruits and vegetables Annual rainfall 3,000 mm 65% of the workforce Rice Cash crops Arable land: 5.4 million ha Land under cultivation: 15% Forestry Cassava Fisheries Food exports $120 million Food imports $455 million Livestock

  3. Agriculture is a key priority for GoSL and support is available at the highest level “In the New Direction, the overall goal of our agricultural policy is sustainable and diversified production of food on a scale enough to feed the growing population as well as providing gainful employment.” His Excellency the President Julius Maada Bio State Opening of Parliament Speech

  4. Agriculture is about land and people: Sierra Leone is competitive in both Rainfall is among the highest in Africa… 70% of the population is rural. Sierra Leoneans are eager to work. …feeding into 9 river systems for irrigation.

  5. Our Ministry has paved the way for agricultural transformation and will be here to support GOAL - Sierra Leone’s National Agricultural Transformation: by 2023, agricultural production is doubled by attracting and retaining large investments, and supporting smallholders to exit subsistence farming 4 3 1 2 Priorities Cross-cutting Enablers Step up private sector involvement and mechanisation Promote women and youths in agriculture Improve the policy environment

  6. Sierra Leone offers opportunity for investment in multiple value chains: RICE LIVESTOCK CROPS FORESTRY • Over 250,000 hectares of ideal rice production ecologies (riverine, boliland and IVS) • Imports of $200 million annually: a ready domestic market through import substitution • Duty free export to ECOWAS countries with $3 billion demand • Locations: throughout the country, with most productive areas in Torma Bum, Rhombe and KumrabaiMamila • Untapped potential for pork, lamb, beef and dairy production for import substitution and duty-free export to ECOWAS region • Opportunities for establishment of vet service businesses; hatcheries for poultry; introduction of artificial insemination technology • Locations : traditionally in the North for cattle • Cocoa, coffee, cashew, avocado, macadamia nuts: projected competitive advantage • Fresh and organically grown vegetables, legumes, spices and fruits – air access to London in 6 hours • Proven investment opportunities for palm oil, groundnut oil and coconut oil production • Valuable forest products • Ongoing reforms to the regulatory environment to avoid deforestation • Commercial forestry is a proven investment opportunity • Community forest management offers possibilities for impact investment

  7. They are already here: Commercial Agriculture Producers and Processors Association

  8. We are building the right environment for agro-investors to succeed Access and infrastructure Investment climate • The Port of Freetown is the deepest natural port in the region • New bulk terminal – Nectar Group • Public investments in new ports, feeder roads, railway networks • Market access: • 3,000 nautical miles from Europe • 3,800 nm from North America • 2,700 nm from Brazil • 6h flight to Europe • 3h flight to Nigeria • Trade agreements: AGOA, ECOWAS, CFTA, EPA, MRU • Dedicated support through SLIEPA, the Ministry of Agriculture, etc. • Coordination with farmers organisation, private sector associations • Support throughout the land process: SLIEPA’s guide for agribusinesses land acquisition • Investment incentives: • 5 years duty free imports • Up to 10 years tax exemptions • Ongoing reforms to create a transparent and easy process

  9. GoSL is committed to support investment in agriculture, with reforms in the environment for agribusinesses Commitments under the National Agricultural Transformation 2023 and GoSL’sNational Development Plan: • Updated policies to create an enabling environment • Investment in improved in-country seed system • Reforms in agricultural finance • New system for inputs supply, with GoSL supporting agrodealers • Large investments in feeder roads and other trade related infrastructure • Support for outgrowers scheme • Investments in large-scale irrigation • Improved data collection and management

  10. THANK YOU FOR YOUR ATTENTION

More Related