FREETOWN, 19 October 2026 – President Dr Julius Maada Bio on Monday commissioned the Sierra Leone Ocean Shipping Company Limited (SLOSCO) at the Queen Elizabeth II Quay in Freetown, officially launching Sierra Leone’s first national ocean shipping company in decades.
The colourful ceremony at the country’s main seaport brought together cabinet ministers, the Chinese investor, port authorities, and players from the mining and trading sectors.
SLOSCO is structured as a joint venture between the Sierra Leone National Shipping Agency (SNSA), which owns 30% of the company, and China’s Zhejiang Xiehai Group Company Limited, which holds 70%.
In his keynote address, President Bio said the establishment of the company marks a strategic shift for Sierra Leone – from merely being a trading nation to owning part of the infrastructure that moves its trade.
“We have the trade; we now develop the capacity to take the greater share of those fees, and that is the challenge that we must take years,” the President told the gathering at the Quay, referring to the millions of dollars Sierra Leone pays annually to foreign shipping lines for freight, insurance and handling of its imports and exports.
Welcoming the President, SNSA Director-General Mustapha Mark Lissa expressed appreciation for President Bio’s leadership in driving the initiative and commended Zhejiang Xiehai Group for choosing to invest in Sierra Leone. He said the partnership would create jobs and strengthen local participation in the maritime sector.
Zhejiang Xiehai Group President Wang An described the venture as a reflection of longstanding trade relations between Sierra Leone and China, and said it would stimulate economic activities across trade, mining and the marine industry.
He reaffirmed his company’s commitment to local employment, skills development and technology transfer.
Also speaking, Deputy Minister of Mines Foday Mousa Fofana said SLOSCO would be important for the mining industry, which depends heavily on sea transport to move iron ore, bauxite, rutile and other minerals to world markets.
Minister of Trade and Industry Alpha Ibrahim Sesay said the company would help importers and exporters, and urged that more local businesses be given opportunity to participate in shipping services.
Minister of Transport and Aviation Ambassador Alhaji Fanday Turay described the commissioning at the Quay as a milestone in the Government’s efforts to modernize the transport sector – covering ports, roads and aviation.
President Bio stressed that the success of SLOSCO will depend on sound financial management, transparency, accountability, safety and compliance with both Sierra Leonean law and international maritime standards. He called on the management to prioritize training of Sierra Leoneans, particularly young people and women.
He said improved national shipping capacity could also support the Government’s Feed Salone agenda and ambition to make Sierra Leone a regional maritime and transshipment hub.
The commissioning of SLOSCO, headquartered at the Quay, forms part of broader efforts to strengthen infrastructure, attract private investment and advance the Government’s national development priorities.
