INVESTING IN SIERRA LEONE Spotlight on Agriculture Hon

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 50% of GDP Annual rainfall 3, 000 mm Agricultural growth: 5% last 5 years 65% of the workforce GDP and main products, per district: The darker shade, the higher is this district’s GDP (excluding mining) Fruits and vegetables Rice Cash crops Arable land: 5. 4 million ha Land under cultivation: 15% Forestry Cassava Fisheries Food exports $120 million Ministry of Agriculture and Forestry Food imports $455 million Livestock 2

Agriculture is a key priority for Go. SL 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 Ministry of Agriculture and Forestry 3

Agriculture is about land people: Sierra Leone is competitive in both Rainfall is among the highest in Africa… Ministry of Agriculture and Forestry …feeding into 9 river systems for irrigation. 70% of the population is rural. Sierra Leoneans are eager to work. 4

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 Crop diversification Sustainable forest and biodiversity Enabling environment and governance Improve the policy environment Ministry of Agriculture and Forestry Promote women and youths in agriculture Step up private sector involvement and mechanisation Enablers Cross-cutting Livestock development Priorities Towards rice self-sufficiency 4 3 2 5

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

They are already here: Commercial Agriculture Producers and Processors Association Ministry of Agriculture and Forestry 7

We are building the right environment for agro-investors to succeed Access and infrastructure è The Port of Freetown is the deepest natural port in the region Investment climate è Dedicated support through SLIEPA, the Ministry of Agriculture, etc. è New bulk terminal – Nectar Group • è Public investments in new ports, feeder roads, railway networks Coordination with farmers organisation, private sector associations • Support throughout the land process: SLIEPA’s guide for agribusinesses land acquisition è Market access: è 3, 000 nautical miles from Europe è 3, 800 nm from North America è 2, 700 nm from Brazil è 6 h flight to Europe è 3 h flight to Nigeria è Trade agreements: AGOA, ECOWAS, CFTA, EPA, MRU Ministry of Agriculture and Forestry è Investment incentives: • 5 years duty free imports • Up to 10 years tax exemptions • Ongoing reforms to create a transparent and easy process 8

Go. SL is committed to support investment in agriculture, with reforms in the environment for agribusinesses Commitments under the National Agricultural Transformation 2023 and Go. SL’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 Go. SL 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 Ministry of Agriculture and Forestry 9

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