Agribusiness
Agriculture is a strategic sector for Sierra Leone. The country has land, rain and a growing domestic market, and the Government has set out to double production and bring in investors to do it.
The resource base
Why invest in agribusiness
Demand is rising
A growing population, fast urbanisation and rising spending power increase demand for food. Across Africa, the agricultural sector is expected to pass $1 trillion by 2030, and the African Development Bank plans to invest over $25 billion in it over ten years.
The Government backs it
Agriculture is central to the Government's goals on food security and poverty reduction. It supports the sector with incentives and subsidies, infrastructure and a better regulatory environment. The National Agricultural Transformation Programme 2023 aims to double production from existing levels.
Opportunities along the value chain
The leading areas for investors are food crops, cash crops, horticulture, livestock and agro-inputs.
A stable climate for business
Sierra Leone ranks 46th of 163 countries in the Global Peace Index. Registering a business takes about five procedures and eight days.
Preferential market access
Trade agreements, ECOWAS membership and the African Continental Free Trade Area give producers duty-free access to large markets.
Affordable, young labour
The labour force is forecast at 3 million by 2024, with 1.3 million students in secondary education and 660,000 in higher education. The minimum monthly wage was set at 500,000 leones in 2014, about $48 in 2021.
The five opportunity areas
Food crops
Rice and other staples meet national food security needs. Sierra Leone's ecology and duty-free access to ECOWAS and other markets make them attractive.
Cash crops
Cocoa, coffee and oil palm are the main export crops. Cocoa earns the most, and an FAO report found Sierra Leone has a comparative advantage in it.
Horticultural crops
Pineapples, bananas, mangoes, avocados, tomatoes and aubergines. Sierra Leonean pineapples have the highest yield in the region.
Poultry and livestock
Regional and domestic demand is growing and existing supply does not meet it.
Agro-inputs
Farmers need modern technology and mechanised equipment, and few dealers supply them. The Government has set up smart subsidies to help farmers buy inputs.
Figures are taken from NIB's sector report and its sources, which date mostly from 2019 to 2021. The full report gives each source and year.