Washington, D.C. – In a meeting held at the United States International Development Finance Corporation (DFC) headquarters on December 9, 2024, Chief Minister of Sierra Leone, Dr. David Moinina Sengeh, engaged with DFC’s Head of Investment, Agnes Dasewich, to discuss ongoing and future investments in Sierra Leone.
The meeting took place ahead of DFC’s five-year celebration ceremony at their 1100 NY Avenue office.
Ms. Dasewich expressed her confidence in Sierra Leone’s government for creating an enabling environment for private sector growth.
“Private sector players will become comfortable operating in your country,” she assured, highlighting DFC’s significant investments in the country, including in the airport and energy sectors. She also revealed that DFC is open to expanding investments into infrastructure, critical minerals, energy access, health, agriculture, and financial institutions, including banks and SMEs.
Dr. Sengeh extended his gratitude for DFC’s $600 million investment in Sierra Leone and reaffirmed President Julius Maada Bio’s commitment to fostering private sector development. He emphasized initiatives like the SWITCH system, which connects seven out of thirteen banks in the country, improving financial sector integration and collaboration with mobile companies.
The Chief Minister also outlined government efforts under the Feed Salone project, which includes irrigation systems and mapping areas for cultivation despite challenges with agricultural machinery.
He assured DFC that investments in technology, milling plants, energy infrastructure, roads, and health would yield substantial returns for investors.
Dr. Sengeh also spotlighted Sierra Leone’s infrastructure needs, including discussions on the potential construction of the Lungi Bridge.
Ms. Dasewich indicated a possibility of DFC financing $800 million for the project, underscoring the corporation’s commitment to Sierra Leone’s development.
On the impact of DFC’s investments, Dr. Sengeh highlighted how the Lungi Airport project has created thousands of jobs. He also appealed for expedited contracts for the construction of airport hotels, emphasizing Sierra Leone’s eagerness for development. In response, Ms. Dasewich assured that lawyers are finalizing the necessary paperwork and will provide updates soon to commence the hotel construction.
The meeting further strengthened Sierra Leone’s partnership with DFC, paving the way for expanded investments in critical sectors to drive the nation’s economic growth.
