Support for Improving the Business Environment in Sierra Leone

2 SIERRA LEONE BUSINESS FORUM (SLBF): OVERVIEW Introduction: SLBF What Who Vision Mission Goals Investment Climate Sierra Leone Sub-Saharan Africa Organisational Structure Key stakeholders Participants Areas of Engagement Make biznes go sweet

3 INTRODUCING THE SIERRA LEONE BUSINESS FORUM What is the SLBF? A public private dialogue mechanism that enables stakeholders to participate in the private sector development process. Who are we? We are a coalition of private sector interest groups spanning the formal and informal business sectors in Sierra Leone. SLBF is a platform for: Advocacy and consultation on Private Sector Development Supporting advocacy for reform within government Supporting private sector’s ability to engage with government on economic policy developments Outreach, public awareness and communication Make biznes go sweet “Sweet Salone” – When biznes sweet, Salone go sweet.

4 INTRODUCING THE SIERRA LEONE BUSINESS FORUM (cont) Vision A prosperous SALONE with a flourishing and growing private sector that: Contributes to wealth creation Provides opportunities for income generation Assists in meeting our development goals Mission To support private sector development by helping create a better investment climate and business environment through providing a mechanism for consistent and productive dialogue between stakeholders Goals Support reform efforts that positively impact private sector growth - (Reducing Administrative Barriers to Investment (RABI)) Support and inform Private Sector Development strategy formulation Encourage dialogue between private sector groups and assist in solving common business problems Monitor progress across all reform activities and evaluate and report on impacts to business community and beyond Make biznes go sweet

5 SLBF PURPOSE: “MAKE BIZNES GO SWEET” Investment Climate is an incentive structure that affects business decisions: Shapes quantity and quality of investment Affect enterprises of all types Make biznes go sweet Political stability & security Policies Laws Regulations Institutions Infrastructure Factor endowments Market characteristics Macroeconomic management Business Startup Licensing/Inspections Tax Trade/Customs Land and Property Rights Labor market regulation Access to Justice Access to Finance Access to Infrastructure Investor Protection INVESTMENT CLIMATE: IMPORTANT FOR ECONOMIC GROWTH

6 SIERRA LEONE’S INVESTMENT CLIMATE According to the World Bank/IFC “Doing Business Report” (DBI) (Compares 178 countries and ranks their ease of doing business) Make biznes go sweet Areas of improvement Indicators Ease of Doing Business Dealing with Licenses Employing Workers Getting Credit Protecting Investors Enforcing Contracts Areas of decline Indicators Starting a Business Registering Property Paying Taxes Trading Across Borders Closing a Business

7 DBI 2008: SIERRA LEONE NOT BEST IN CLASS Best countries in Sub-Saharan Africa by category: Make biznes go sweet IndicatorsPost-ConflictECOWASSSASierra Leone Selected for Policy Ease of Doing BusinessEthiopia 102 Ghana 87 Mauritius Mauritius Starting a BusinessRwanda 63 Nigeria 80 Mauritius 8 89Mauritius Dealing with LicensesEthiopia 58 Senegal 64 Kenya 9 151Kenya Employing WorkersEritrea 58 Gambia 29 Uganda Uganda Registering PropertySudan 32 Ghana 26 Ghana Ghana Getting CreditAngola 84 Cape Verde 68 Kenya Kenya Protecting InvestorsMozambique 33 Ghana 33 South Africa 9 98South Africa Paying TaxesEthiopia 29 Ghana 75 Botswana Botswana Trading Across BordersLiberia 98 Ghana 61 Mauritius Mauritius Enforcing ContractsRwanda 44 Ghana 51 Namibia Namibia Closing a BusinessUganda 48 Cote D’ivoire 71 Botswana Botswana

8 KEY STAKEHOLDERS Make biznes go sweet Private Sector Formal Sector Trade and Professional Associations – SLCCIA; SLAM; SLIBA; Importers Assoc.; Employers Federation; Bankers Assoc. –Insurance Assoc.; Institute of Accountants; Bar Assoc. –Mineral Exporters; Timber Exporters, Fisheries and Tourism –Transport Owners, Freight Handlers, Media Owners, Farmers Informal Sector –National Traders Union: Pretty Traders, Bike Riders, Motor Drivers, Boat Owners, Farmers, Mine Workers, Sweissy Jewellers, Dollar Hawkers  Ethnic Business Communities –Fula, Lebanese, Indian, Nigerian, Djula, Chinese GOSL Ministries –Trade and Industry, Finance, Justice, MFA, MODEP, MAFF, MLHE, MoTC, MTC, MOM, MYS  Agencies/Commissions  OARG, NCP, NASSIT, NRA, ICRB, Central Bank, Decentralization, JSDP, Law Reform, Security Services  Judiciary  Parliament  Provincial, District, Chiefdom and Local Administrations Dev. Partners DFID, IFC, World Bank GTZ, EU, UNIDO,USAID, Irish Aid, JICA, China UNDP/UNIOSIL ADB, IDB AU, Commonwealth Secretariat NEPAD ECOWAS MRU NDI, British Council Other Youth Organizations 50:50 and Women’s Forum IPAM and other educational establishments Independent Media Commission Human Rights Commission SL Diaspora Organizations NEC and NCD, CGG WAMU, UMEOA African Business Roundtable Sierra Investment Fund West Africa Business Forum International Media Global Reports and Indices Local and International NGOs

9 PARTICIPANTS Make biznes go sweet Policy Advisory Committee Coordinating Secretariat Minister Trade/Industry, President SLCCIA DFID/IFC Reps. Parliamentary Rep. Other Government and Private Sector Groups Executive Director Economist & Researcher Admin Barr Coordinator PSD Strategy Coordinator Technical Committee Expert Consultants Line Ministry/Agency Managers Directly Interested Private Sector Working Groups Private Sector Ministry/Agency Directors Civil Society KEYSTAKEHOLDERSKEYSTAKEHOLDERS

10 KEY AREAS OF ENGAGEMENT Reducing Administrative Barriers Business Start Up and Registration SME Tax Policy Tax Reform and Modernization Financial Sector Reform Enhancing the private credit environment Financial Product Deepening Financial services and infrastructure Land Issues Title and registration Dispute resolution Legal Reforms Supporting enactment of legislation that helps to achieve all the above Improved access to justice on commercial matters Make biznes go sweet

11 SLBF WORKING GROUP UPDATE Reducing Administrative Barriers To be re-established by May 15 th Communications of new business registration processes Land border processes for informal sector Tax Reform and Modernization Likely to require multiple groups Exposure of overall tax modernization program Support GST(VAT) dissemination and implementation Financial Sector Reform Chaired by Solomon Samba MD. Aureol Insurance Review of financial sector note by BSL Credit Reference sub-group Land Legislation Review Chaired by Ms Seray Kallay (OARG) Reviewing about 12 pieces of legislation Review of land policy Financial Legislation Reforms Chaired by Richard Konteh Deputy Minister Finance Pushing 5 bills through the legislative process Make biznes go sweet

12 New Horizons- Embedding a culture of results driven dialogue Agricultural Working Group* Chaired by Sanusi Deen MD EDSL 4 technical committees including finance Tourism Oversight Committee* Chaired by Permanent Secretary for Tourism Cuts across Lands, Trade, Immigration etc Early stages of formation PSWG on Gateways Fledging efforts to begin to address Lungi-Freetown transfer process Will go on to tackle electronic land, Sea and electronic gateways Credit Reference sub-group ICT * VP is coordinating efforts on this PSWG to be sponsored by Make biznes go sweet

13 “Sweet Salone” - When biznes sweet, Salone go sweet. For more information please contact us via phone on /290116, or visit our offices at 2nd Floor, Bishop Building, 13 Lamina Sankoh St, Freetown