Top 6 reasons why investors should select Sierra Leone for agriculture
Robust Demand Outlook
With a steady growing population, rapid urbanization and increasing purchasing power – the demand outlook for Sierra Leone is promising.
The country is endowed with abundant land (over 5.4m hectares) and plentiful rainfall which makes it an attractive destination for investors.
Strong Government Support
As a strategic sector, agriculture is expected to play a vital role in securing Sierra Leone’s food security and poverty reduction goals.
As such, GoSL1 is eager on aiding the sector through incentives & subsidies, investments in infrastructure, and improving the regulatory environment.
Attractive Sectoral Opportunities
Sierra Leone has several promising sectoral opportunities for investors across the agricultural value chain.
The top sectors for investors are food crops, cash crops, horticultural crops, livestock, and agro-inputs.
Stable Business Climate
Sierra Leone has strong macro-economic fundamentals, and its economy is expected to rebound strongly post-COVID.
Sierra Leone is one of the most peaceful and politically stable countries in Africa.
Preferential Market Access
The government of Sierra Leone has signed a number trade agreements with key trade partners
Sierra Leone is also a member of the Economic Community of West African States (ECOWAS) supporting free movement of good and people, and will benefit from the African Continental Free Trade Agreement (AfCFTA).
Skilled & Cost-Effective Labor
Sierra Leone offers a vibrant and eager workforce, expected to reach over 3 million persons by 2024.
Sierra Leone is also very cost-effective, having some of the lowest costs of labour when compared to other West African locations.
Source: SLIEPA, World Bank, Netherlands Enterprise Agency, Knoema
Note: 1. Government of Sierra Leone