By: Saidu Jalloh
In a monumental step for Sierra Leone’s agriculture sector, the government has signed one of the country’s largest agricultural investments through the Ministry of Finance: a groundbreaking $105 million livestock transformation project.
The signing, which took place on November 6th, 2024, at the Ministry of Finance conference room, George Street, drew participants from IFAD, MoF, MAFS, UN RC, and the Media.
The Minister of Finance, Mr Sheku Ahmed Fantamadi Bangura, expressed gratitude to the IFAD Regional Director for the huge investment in the agricultural sector in Sierra Leone and also commended the government for bringing value to agriculture and the president for championing agriculture.
Minister Bangura explained that the signing was one of the pledges made in Vienna by IFAD and OPEC.
It was also one of the calls the President made to development partners for the Feed Salone project. He mentioned that the $105 million would impact agriculture by reducing the cost of importation. The consumption of livestock in Sierra Leon is low, and this investment would spice it up.
Minister Bangura announced that they are committed to provide 5,000 jobs for women and young people in the next five years and that this project would target 3,000 workforces, and they are marching in the right direction.
He narrated that poultry farming that is going to be done would also include technology for animal husbandry and that all of what they have in the Medium National Development Plan is a complement to that project.
The Region Director for IFAD, Bernard Hein, said that it is a symbolic milestone signing, and he is impressed by the leadership and vision of the President of Sierra Leon. Hein commented that the signing marked the championing of their engagements and responsibilities and building resilience in Sierra Leone communities. He explained that Sierra Leone is well known for livestock, yet Sierra Leone imported all the livestock they eat, but that project would reverse that situation and substitute the import.
Hein also narrated that he was told that the livestock sector had not yet benefited from the major public investment project that huge potential.
He mentioned that 0.12% out of the 90% went to the livestock sector, and the good news is that the project would finance the livestock sector. He revealed that many livestock farmers had abandoned their businesses because of the challenges they faced in accessing finance, veterinary services and credit loans.
He highlighted that the $ 105 million project would make the sector attractive again and that they would implement policy and strong working environment to create income and opportunities for the people of Sierra Leone.
Hein reiterated that in the next eight years, their ambition was to reach 307,000 households in the future, and 40% of the beneficiaries would be women, and 30% would also be youth.
Hein underscored that the signing of the financing agreement is a testament to their strong working relationship with Sierra Leone and to promote rural agricultural development in Sierra Leone.
The Chairman of the Presidential Initiative For Climate Change, Renewable Energy and Food Security, DR, Kandeh Kolleh Yumkella, also gave a warm speech expressing gratitude to IFAD, OPEC, and the Islamic Development Bank and saying that this project had shown that indeed Sierra Leone is ready for action and has a vision for food and energy security.
He emphasised that the president was very passionate about the Feed Salone Initiative, and he told them a few days back that they have to feed their people.
