INVESTING IN SIERRA LEONE Spotlight on Agriculture Hon. Joseph Ndanema, Minister of Agriculture and Forestry June 2019 UK – SL Trade and Investment Conference

Sierra Leone can be your main partner to tap into Africa’s huge growth potential in agriculture GDP and main products, per district: Agricultural growth: 5% last 5 years 50% of GDP The darker shade, the higher is this district’s GDP (excluding mining) Fruits and vegetables Annual rainfall 3,000 mm 65% of the workforce Rice Cash crops Arable land: 5.4 million ha Land under cultivation: 15% Forestry Cassava Fisheries Food exports $120 million Food imports $455 million Livestock

Agriculture is a key priority for GoSL and support is available at the highest level “In the New Direction, the overall goal of our agricultural policy is sustainable and diversified production of food on a scale enough to feed the growing population as well as providing gainful employment.” His Excellency the President Julius Maada Bio State Opening of Parliament Speech

Agriculture is about land and people: Sierra Leone is competitive in both Rainfall is among the highest in Africa… …feeding into 9 river systems for irrigation. 70% of the population is rural. Sierra Leoneans are eager to work.

Our Ministry has paved the way for agricultural transformation and will be here to support GOAL - Sierra Leone’s National Agricultural Transformation: by 2023, agricultural production is doubled by attracting and retaining large investments, and supporting smallholders to exit subsistence farming 1 2 3 4 Enabling environment and governance Towards rice self-sufficiency Livestock development Crop diversification Sustainable forest and biodiversity Priorities Cross-cutting Enablers Improve the policy environment Promote women and youths in agriculture Step up private sector involvement and mechanisation

Sierra Leone offers opportunity for investment in multiple value chains: RICE LIVESTOCK CROPS FORESTRY Over 250,000 hectares of ideal rice production ecologies (riverine, boliland and IVS) Imports of $200 million annually: a ready domestic market through import substitution Duty free export to ECOWAS countries with $3 billion demand Locations: throughout the country, with most productive areas in Torma Bum, Rhombe and Kumrabai Mamila Untapped potential for pork, lamb, beef and dairy production for import substitution and duty-free export to ECOWAS region Opportunities for establishment of vet service businesses; hatcheries for poultry; introduction of artificial insemination technology Locations : traditionally in the North for cattle Cocoa, coffee, cashew, avocado, macadamia nuts: projected competitive advantage Fresh and organically grown vegetables, legumes, spices and fruits – air access to London in 6 hours Proven investment opportunities for palm oil, groundnut oil and coconut oil production Valuable forest products Ongoing reforms to the regulatory environment to avoid deforestation Commercial forestry is a proven investment opportunity Community forest management offers possibilities for impact investment

Commercial Agriculture Producers and Processors Association They are already here: Commercial Agriculture Producers and Processors Association

We are building the right environment for agro-investors to succeed Access and infrastructure Investment climate The Port of Freetown is the deepest natural port in the region New bulk terminal – Nectar Group Public investments in new ports, feeder roads, railway networks Market access: 3,000 nautical miles from Europe 3,800 nm from North America 2,700 nm from Brazil 6h flight to Europe 3h flight to Nigeria Trade agreements: AGOA, ECOWAS, CFTA, EPA, MRU Dedicated support through SLIEPA, the Ministry of Agriculture, etc. Coordination with farmers organisation, private sector associations Support throughout the land process: SLIEPA’s guide for agribusinesses land acquisition Investment incentives: 5 years duty free imports Up to 10 years tax exemptions Ongoing reforms to create a transparent and easy process

GoSL is committed to support investment in agriculture, with reforms in the environment for agribusinesses Commitments under the National Agricultural Transformation 2023 and GoSL’s National Development Plan: Updated policies to create an enabling environment Investment in improved in-country seed system Reforms in agricultural finance New system for inputs supply, with GoSL supporting agrodealers Large investments in feeder roads and other trade related infrastructure Support for outgrowers scheme Investments in large-scale irrigation Improved data collection and management

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