Commentary
By Arnold Awoonor-Gordon, London, UK.
The information that there was going to be an investment conference in London in November, went through the Sierra Leoneans in the UK like lightening. Everyone wanted to be there, and emails requesting registration went back and forth between London and Freetown with much frequency. But as usual with such gathering one either received a reply or silence, as if ones email had gotten lost in cyberspace. The reply , and several people got them from Mr Patrick Caulker, whom I later learned had the grand title of Chief Executive Officer of the Sierra Leone Investment and Export Promotion Agency, was that the conference had been oversubscribed, but we had been put on the waiting list, and we would be contacted again.
Two days before the conference was to open, and not yet receiving confirmation as to whether I was still on the waiting list, I fired another email to the CEO, but as usual, my email either got lost in cyberspace or the CEO was not replying. Anyway, like the good journalist I used to be (I am now retired) I turned up at the Queen Elizabeth 11 Conference Centre in central London opposite the Houses of Parliament and Westminster Abbey, on Wednesday November 18, hoping to contact the CEO to find out whether I could attend the conference of not. I was not the only one. Several keen Sierra Leoneans had the same intention and turned up at the centre.
Could we find Mr Patrick Caulker the CEO? No chance. He was in, but upstairs and could not be contacted, and no one else could tell us how to attend what we felt was an important conference, and we had to be there. After milling around in the lobby for half an hour, I remembered the skills I learned when I was a practicing journalist , and somehow got in. I will not disclose how I did it. But I did attend the conference, and what was more I had a badge to prove it.
I may have joked in the first part of this piece, but I must now be serious and inform you all, that the conference was great success. We who live in the Diaspora and are not in direct contact with the movers and shakers who are now in charge of running Sierra Leone, tend to dismiss what is going on in the country. This may be because we do not know any of the people in charge as their names do not mean anything to u, especially old fogies like myself. But I can assure you that the people that President Koroma now has to help him run the country are some of the best Sierra Leoneans I have met since the country became a one-party state (thankfully now no more) They are young, highly educated, articulate, committed and what is more know their stuff.
Although not part of the government of Sierra Leone, but a committed Sierra Leonean all the same, is Dr. Kandeh Yumkella(photo), Director General of the United National Industrial Development Organisation (UNIDO) who chaired the conference and acted as what I can only described and the Master of Ceremonies. I had heard his name before, but never met him, but I can understand why the UN appointed this young (he said he was 50, but looks 40) Sierra Leonean to lead one of its most important agencies. He was articulate and ran the show with confidence and knowledge and a firm hand, and all we should congratulate him for the way he handled the conference with such eloquence. Obviously he had these talents from running such a large international organisation as UNIDO
I understand that there were seven Cabinet Ministers at the conference, but I was not able to hear all of them make their presentations to the distinguished and high powered international businessmen and heads of some of the most important international companies and UK Ministers.
But I was able to listen to the Hon. David O.Carew, Minister of Trade and Development, who is spearheading the government’s focus on private sector growth, in particular in developing and implementing policies to stimulate trade, facilitate private sector development, enhance levels of investment and foster sustained and balanced economic growth in the country. He gave a most enlightened statement about trade, business and development possibilities in the country, and gave us an insight into some of the international companies that have, or are in the process of investing in Sierra Leone in the mining, agriculture, petroleum, fishing and hotel and tourism sectors.
But I must say the two persons who impressed me most at the conference were Mr Oluniyi Robbin-Coker, Private Sector Advisor to the President and Mr. Patrick Caulker, CEO of SLIEPA, the organiser of the conference. As someone said to me if there are ten such young men at the helm of the development of the country, then the country can look forward to a bright future. These two held me spellbound with their knowledge and enthusiasm for the investment possibilities in the Sierra Leone, and came over as committed young Sierra Leoneans with good intentions for the country.
I was astounded at the number of development projects that are taking place in the country, and many of the international investors in the country spoke about the new climate for investors in the country. They sighted particularly the speed of obtaining licences to set up business in the country, three days rather than two months. A company called Addax Bio energy represents the largest agriculture investment in the country, with a well established oil trading company, and is now capitalising on the country’s sugarcane-growing climate in the production of bio ethanol, with the European market in site. They have invested in 15,500 hectares for sugarcane plantation.
Several other companies that have invested in the agriculture sector are Goldtree SL Limited, who recently closed a $19 million deal with FinnFund for the production of palm oil in the country, Sierra Leone Agriculture which has leased a 41,000 hectares estate in the north west of the country, for the large scale development of oil palm. In the production of rice, the Soros Economic Development Fund is developing two rice mill complexes, and will provide mechanical cultivation services to farmers in the catchment acres.
In the mining sector African Minerals are developing and exploiting the iron ore deposits in Tonkolili and Marampa, Cluff Gold (SL) Limited is operating under a 25 year mining lease for the Baomahun Gold Project. There are also overseas investor companies in the diamond and rutile areas of the country.
And then of course, there is the exciting news of the discovery of oil announced in September off the Sierra Leone/Liberia Basin. Anadarko, the company that is investing millions of dollars in the project is one of the largest independent oil and natural gas production in the world. The company is presently evaluating the initial results of the Venus well that they have drilled so far and the prospects look good.
It was very heartening to see that some of the investors who are flocking to Sierra Leone because of the new climate for investors are Sierra Leoneans. Two I pickeup... one large and one small
The Sierra Leonean owned International Development Enterprise Associates (IDA.UK) is the brain child behind the Mape Project. It comprise the three inter-related components of the Konakridee Coastal Resort, the Mape Town and the supporting Infrastructure. The local region has a distinctive topography with finger-like peninsulas covered by mangrove vegetation, interspersed with tributaries that flow through the valley separating Kaffu Bullom (south of the River Sangua) and Loko Massama Chiefdom (north of the River Sangua).
The Mape Town
The Mape Site is located between the existing villages of Mape (west), Sania (south-east) and Yemya (north east). The town will encompass a wide range of facilities geared towards bringing socio-economic and environmental benefits to those living within Mape and also to those of the wider community.
The Konakridee Coastal Resort
Approximately 4.5km to the north west of the Mape Town, the Konakridee Coastal Resort will comprise a 3 to 4 star beach front hotel and leisure uses for all ages. The resort will also benefit the surrounding areas by providing jobs. What is so interesting is that the land for the project has been leased from the local community, but with the backing and support of the Koroma government. The fear of many Sierra Leoeneans of leasing land outside the Peninsular area, has now been assured by the government.
The project has been designed and created by a group of Sierra Leonean living the UK, and they had a high profile at the conference.
The smaller project is Victor Abu of Kenema, who although living in the UK, has already built an 18 roomed guest house in Kenema, comprising a bar and restaurant and function hall. He has also the best entertainment centre in Kenema. Future plans include the development of a purpose built community centre, development of a 40 acres agriculture, with suitable property development in Targrin, Bo and Kenema.
Many of the representatives of companies and private investors who have already invested in Sierra Leone spoke about the ease of doing business with government. For example the ease of gaining access to lands outside the Western Area to setup business, acquiring tax clearance within three days free,, customs tax exemption approval within one week free, business registration and business name registration certificate within 3 days, immigration services such as residence permits and entry visa within 48 hours. Investors can also take advantage of free hotel booking facilities, airport pickup, ground transportation and preparation of confirmation of itinerary for potential investors. The oil drilling company also spoke of being given priority immigration and customs clearance at Lungi airport on arrival and departure.
President Ernest Koroma and his wife were present at the conference, and he gave an enlightened overview of the investment potential of the country. He said that when he came to power he promised to run the country like a business concern, and that is exactly what he is doing. That is why he is steadily introducing reforms to make Sierra Leone a better place to do business based on the principles of fairness, openness and transparency. Today, he told the assembled audience, Sierra Leone is amongst the top five counties in sub-Saharan Africa when it comes to ease of starting business. The President ended by saying that at this conference, it is hoped to provide the facts and insights that will persuade them that it is time to invest in Sierra Leone; to show them just some of the lucrative business opportunities available in the country, and at the same time provide an overview f the progress Sierra Leone has made and begin a dialogue.
Tony Blair, whose Tony Blair Africa Governance Initiative (AGI) was one of the sponsors of the conference also attended the conference. He praised Sierra Leone for turning round the country and said that his foundation will continue to work hand in hand with the president to help with the development of the country. He later in the evening attended a reception hosted by the Right Hon. Lord Paul of Marylebone.
Others who attended the conference and addressed or took part in some of the panel discussions included Mr Gareth Thomas MP, Minister of State for Development in the UK Government, Mr Stewart J. Papein, President Soros Economic Development Fund, Mr. Albert Saltson, CEO, Standard Chartered Bank of Sierra Leone and the Right Hon. the Earl Cairns. The topics for plenary discussions included Sector Overview, Power, Agribusiness, Infrastructure, Tourism, Fisheries, Minerals and Mining and Hydrocarbons.
Some of the sponsors of the conference included the International Finance Corporation, the Commonwealth Business Council, the UK Department for International Development, the European Commission, First Step. GT Bank, Standard Chartered Bank, Sierra Leone Agriculture and Anandarka.
All in all, Sierra Leone must be proud of hosting such an important international conference for investors and one can only hope that it will bear lasting fruits in the development of the country.
Editor’s note: Special thanks to Mr. Donald Smythe-Macauley and of course the writer.
Comments