Sierra Leone has signed a Joint Venture Agreement to establish the Sierra Leone Ocean Shipping Company (SLOSCo), marking a significant step toward reviving the country’s national shipping carrier after more than two decades without a national fleet.
The agreement, signed today, establishes a strategic partnership between the Government of Sierra Leone and an international shipping partner to reintroduce a national shipping company without placing a financial burden on the state.
Government officials described the initiative as a historic milestone aimed at repositioning Sierra Leone as a competitive maritime hub in West Africa while creating direct economic opportunities for citizens.
“This marks a new chapter for our maritime sector,” a government statement said. “Through this joint venture, we are reviving our national carrier through a partnership that requires no financial commitment from the Government, while delivering real value for the people of Sierra Leone.”
Under the agreement, SLOSCo is expected to create employment opportunities across the ports, logistics, and shipping sectors, while also investing in training programmes to develop local maritime skills.
Authorities say the company will help reduce the cost of importing and exporting goods by providing Sierra Leonean businesses with greater access to shipping capacity, reducing reliance on foreign carriers.
The initiative is also expected to increase national trade volumes, attract foreign direct investment into the maritime and port services sectors, and improve connectivity between Freetown and key regional and international markets.
Maritime experts say a national shipping line could play an important role in reducing freight costs, strengthening supply chain reliability, and ensuring that more maritime-related revenue remains within the country. The revival of SLOSCo is also expected to support ongoing efforts to modernize the Queen Elizabeth II Quay and attract additional shipping services to Sierra Leone.
Government officials stressed that the joint venture model was deliberately chosen to ensure long-term sustainability.
“We are charting a new course for sustainable growth and prosperity,” the statement added. “This is about building capacity, creating opportunities for our youth, and ensuring Sierra Leone takes its rightful place in the West African maritime economy.”
The establishment of SLOSCo comes at a time when West African nations are working to expand regional trade under the African Continental Free Trade Area (AfCFTA). Officials said the company will begin operations gradually, with an initial focus on cargo transportation and regional shipping routes.