Sierra Leone offers a wide range of promising investment opportunities and some export opportunities, underpinned by its abundant natural resources, youthful population, improving political stability, and ongoing economic reforms. Key sectors for business development include agriculture, fisheries, mining, tourism, energy, and infrastructure, all supported by favorable climate conditions, strategic geographic positioning, and regional trade integration.
Mining and Minerals
Mining is a major contributor to Sierra Leone’s economy, and accounts for over 70% of export earnings. The country is rich in bauxite, rutile, lithium, tantalum, coltan, zircon, diamonds, gold, and iron ore, offering strong investment prospects in exploration, extraction, processing, and value addition. In 2024, the total mineral export value was estimated at $1.2 billion. Recent regulatory reforms aim to improve governance and attract responsible foreign investment.
Agriculture and Agribusiness
Sierra Leone has approximately 5.4 million hectares of arable land, of which less than half is currently under cultivation, presenting significant opportunities for expansion and investment. Agriculture is predominantly rain-fed and characterized by smallholder farming, with key crops including rice, cassava, cocoa, coffee, palm oil, and vegetables. The sector holds vast potential for commercialization, mechanization, and agro-processing, supported by government initiatives such as the Feed Salone program aimed at boosting productivity and achieving food self-sufficiency.
Fisheries and Marine Resources
Sierra Leone’s fisheries and marine resources sector is a vital part of the economy, supporting livelihoods, food security, and export earnings. The country boasts a coastline of approximately 560 kilometers and an extensive continental shelf covering about 30,000 square kilometers, rich in marine biodiversity. This environment supports a wide range of commercially valuable species, including tuna, shrimp, and various demersal and pelagic fish. The sector includes both artisanal and industrial fishing, though artisanal operations dominate. Investment opportunities exist in fish processing, aquaculture, cold storage, and export logistics.
Tourism and Hospitality
Tourism is an emerging sector, with potential in eco-tourism, adventure tourism, and cultural tourism. Sierra Leone’s natural attractions including pristine beaches, wildlife sanctuaries, and heritage sites. This creates opportunities in areas such as hospitality, site rehabilitation, and sustainable tourism services.
Energy Supply and Public Infrastructure
Electricity supply is a major challenge for businesses in Sierra Leone. Less than 30% of the population has access to electricity, with particular challenges in rural areas. There is strong demand for off-grid renewable and scalable energy solutions. Investment opportunities exist in electricity generation including thermal, hydropower, solar, biomass, and energy infrastructure.
Rebuilding and expanding infrastructure is a national priority. There is high demand for investment in roads, housing, water, ports, and information communication technology. Public-private partnerships are encouraged to support infrastructure upgrades and service delivery, particularly in urban development, transportation, and utilities.
The government is taking steps to spur economic growth through infrastructure. Key initiatives include working with the Millenium Challenge Corporation (MCC) to improve electricity transmission and distribution; the development and planned construction of the Lungi Bridge to connect Freetown with the international airport; road rehabilitation and expansion; and the development of ports. To strengthen its investment climate, the government established the National Investment Board (NIB) in 2022 to streamline business processes, reduce bureaucracy, and promote transparency. Legal and regulatory reforms, along with investor incentives, further enhance Sierra Leone’s appeal as a frontier market.
Regionally, Sierra Leone offers access to a market of over 50 million people through the Mano River Union (MRU) and over 400 million via the Economic Community of West African States (ECOWAS). It also benefits from preferential trade with the 53 other State Parties of the African Continental Free Trade Area (AfCFTA). It receives duty-free, quota-free access to the European Union through the Everything But Arms (EBA) agreement. Sierra Leone also has been a traditional beneficiary of the U.S. African Growth and Opportunity Act (AGOA). The United States does not have a bilateral investment treaty, a free trade agreement, or a double taxation treaty with Sierra Leone.
Digital Economy Opportunities
Sierra Leone is gradually advancing its digital transformation, with the Directorate of Science, Technology, and Innovation (DSTI) spearheading efforts to digitize public services, enhance data governance, and foster digital entrepreneurship. Key opportunities in the digital economy include fintech and mobile banking solutions, e-government platforms, broadband and ICT infrastructure, edtech and healthtech innovations, as well as digital ID and cybersecurity services. Investors and tech entrepreneurs can collaborate with innovation hubs and public programs aimed at expanding access to digital technologies and services and creating a conducive environment for growth in the sector.