Freetown, Sierra Leone – January 8, 2026 – President Julius Maada Bio has directed the wind-up of the Mineral Wealth Fund Sierra Leone Limited (MWFSL) to pave the way for a stronger, more transparent sovereign wealth framework.
According to a public notice from the Ministry of Information and Civic Education, the move ends MWFSL’s existing arrangements, including its involvement in the Tonkolili North Iron Ore project. State ownership of mineral assets remains unchanged, vested in the Sierra Leone Mines and Minerals Development and Management Corporation (SLMMDMC).
The notice describes the shift as “a change in vehicle, not a change in vision.” The government is committed to a new Sierra Leone Sovereign Wealth Fund aligned with global standards, such as the Santiago Principles, for better governance and national benefits.
The aim is to transform limited natural resources into sustainable wealth, promoting economic stability and benefits for future generations.
Additional details on the new fund will be shared soon.
This step builds on efforts to improve management of Sierra Leone’s mineral revenues amid ongoing resource governance reforms.
