Top reasons to select Sierra Leone for investing in Fisheries
Strong market demand for fish
The fish market is estimated to reach USD $138.7 Billion by 2027, growing at rate of 2.9%.
Fishery contributes largely to the GDP of Sierra Leone and provides most of the animal protein domestically consumed.
Fishing also provides employment in Sierra Leone.
Diverse sector opportunities
Sierra Leone has strong investment opportunities in several segments of the fishing industry including fishery, aquaculture, fish processing, fishery infrastructure and FishTech solutions.
Preferential market access & key trade partners
The government of Sierra Leone has signed a number trade agreements with key trade partners allowing for duty and quota free trade.
Sierra Leone is also a member of the Economic Community of West African States (ECOWAS) supporting free movement of good and people across West Africa.
Improving infrastructure for logistics
Several steps have been taken to improve the country’s infrastructure network and include building a bridge connecting the airport and the capital, improving the road network and providing reliable electricity supply.
Opportunities exist to further develop port and fishery related infrastructure.
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.
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.
Source: Wavteq based on Research and Markets, Global seafood report 2021, Sierra Leone agenda for prosperity 2013