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Sierra Leone’s President Julius Maada Bio Discusses Private Sector Investment With U.S. International Development Finance Corporation

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State House, Freetown, Wednesday, July 27, 2022 – His Excellency President Dr Julius Maada Bio has discussed opportunities for private sector investment with Chief Executive Officer, Scott Nathan, and the team from the United States International Development Finance Corporation, a development finance institution and agency of the federal government.

U.S Ambassador to Sierra Leone, David Reimer, expressed gratitude to President Bio for making time to receive the CEO and team, and recalled the several engagements they had had on the need for private sector investment in the country.

He added that for the same reason he was presenting the CEO and team to build on those earlier discussions and to explore available private sector investment opportunities in the West African nation.

The CEO, Scott Nathan, expressed delight at the warm welcome they received at State House, adding that he had been in his new office for just five months and was visiting Sierra Leone and Africa for the first time.

He further stated that he was in the country to support the President’s idea of making Sierra Leone a middle-income country by 2035. He assured the meeting that they were already involved with investment partnerships in the country but were looking forward to identifying more opportunities.

“We have been involved in power and digital investment. We are now looking for future partners in the areas of healthcare, agriculture, and small to medium scale investments,” he said.

He referred to the long-standing working relationship between Americans, the United States Government, and the people and Government of Sierra Leone, which he said was founded on democracy, openness, and the rule of law.

“I am certain about an enabling environment for investment,” he said.

In his response, President Julius Maada Bio welcomed the CEO and team, saying that since he assumed office, he had been urging private sector investments to explore partnership and growth opportunities, adding that private sector investment should be used to stimulate economic growth.

He said his government’s main initiative, the Human Capital Development, was proof of the huge investments he had made in education, a strong pillar under that initiative.

“My government believes in education. So, we have made a huge investment in that sector by paying fees for all school-going children in government schools, providing teaching and learning materials; providing meals for them in some parts of the country with the help of Catholic Relief Services. My government also pays tuition fees for girls offering courses in the Sciences, Technology, Engineering and Maths (STEM) in government universities,” he explained.

President Bio also emphasised that his government was now encouraging private sector involvement in agriculture by providing tractors and machines so that the pressure on the government could be minimised. He said more support was needed to boost the energy sector, a sustainable stimulant of economic activities.

For More Enquiries:
State House Media and Communications Unit
[email protected]

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