June 21, 2021
The Ministry of Trade and Industry in collaboration with SLagcelerator and support from the World Bank has at a program at the Brookfield’s Hotel on the 19th June 2021, conducted induction for the second Cohorts of Small and Medium Enterprises (SMEs).
These new Cohorts have proved beyond doubt their ability and capability to improve on their businesses. The project is in line with President Julius Maada Bio’s commitment to advancing the commercial viability of SMEs.
Having manifested their agribusiness capability with added value in rice production, crops, poultry and indigenous clothing production, etc. the Ministry of Trade and Industry is providing grants to the new Cohorts to enhance viability in their businesses.
The Permanent Secretary in the Ministry of Trade and Industry, Augustine Sheku, who is regarded as a master farmer, welcomed the new Cohorts and admonished them to take their businesses seriously in order to ensure maximization of profit. “The grants that we are dishing out to you are provided by government with support from the World Bank. Therefore it is expected that all of you utilize the grants judiciously.”
The Minister of Trade and Industry Dr. Edward Hinga Sandy in his keynote address challenged SMEs to do more and ensure Sierra Leone produce enough to satisfy demand.
He noted that the country spends a huge amount of money annually to import food commodities and other products which according to him is impacting negatively.
He referenced various agro processing companies in country such as Jolaks, Sierra Juice, Socfin etc. “We can do more to reduce the high rate of importation and improve on production,” the Trade Minister said.
Dr. Hinga Sandy called on businesses to encourage partnership in order to accelerate production. “It is our expectation that beneficiaries of these grants should ensure they do more to expand their business like the first Cohorts that were inducted a year ago.”
The Minister encouraged competition and called on investors to work towards enhancing quality productivity while expressing satisfaction with the first Cohorts who he said have done extremely well in expanding their businesses and employing hundreds of Sierra Leoneans.
Dr. Sandy informed that 40 SMEs were selected across the country through a competitive process for the second Cohorts and that their training will commence immediately. “All of you will receive technical support and grants to expand your businesses and I know you won’t disappoint so I congratulate you all,” he said.
The Deputy Minister of Trade and Industry, Rev. Abraham Sesay-Jones, unveiled the new Cohorts.
The program climaxed with the presentation of certificates to the new Cohorts and exhibition of local products.