By: Saidu Jalloh
The Sierra Leone Ports and Harbours Authority, through its concessionaire Freetown Terminal Limited (FTL), is set to transfer Eight Million United States Dollars (US$8 million) to the Government of Sierra Leone as equity dividends for the financial year ending December 31, 2025.
The payment represents the government’s 20 percent share of dividends declared by FTL, the private operator of the Freetown Port. This transfer underscores the Authority’s growing financial strength and its contribution to the national economy.
In recent years, the Sierra Leone Ports and Harbours Authority has demonstrated a steady improvement in revenue generation and financial performance. In 2023, the Director General, Yankuba Askia Bio, remitted US$4 million to the government, followed by US$7 million in 2024. The projected US$8 million for 2025 reflects continued growth in revenue streams.
Reports indicate that since 2023, the Authority has also paid more than US$11 million in concession fees to the government over a two-year period, further strengthening public finances.
Under the leadership of Yankuba Askia Bio, the SLPHA has implemented key reforms, including the digitalization and modernization of its operational systems. These improvements have enhanced efficiency and boosted revenue generation.
The funds remitted to the government support national development priorities such as infrastructure expansion, maritime security, and improved public service delivery. The Authority was also ranked the top-performing agency under the Ministry of Transport and Aviation in the 2025 mid-term performance assessment.
In a related development, the government, through the SLPHA, has commenced the rehabilitation of berths 3, 4, 5, and 6 at the Freetown Port. The US$25 million project is being financed by FTL as part of its concession agreement with the government.