By: Saidu Jalloh
Sierra Leone’s economy is projected to grow by 4.4% in 2025 and 4.8% in 2026, according to the Country Focus Report 2025 released by the African Development Bank (AfDB). This growth is expected to be driven by strong performance in the services, mining, and agriculture sectors, despite ongoing global economic challenges.
The report, themed “Making Sierra Leone’s Capital Work Better for Its Development,” provides a comprehensive review of the country’s 2024 economic performance and outlines macroeconomic projections and policy options for the years ahead. It emphasizes the need for improved domestic capital mobilization and more efficient resource utilization to enhance economic resilience.
Speaking at the virtual launch of the report, AfDB Country Manager Halima Hashi noted that Sierra Leone’s GDP growth slowed to 3.9% in 2024 from 5.7% in 2023, mainly due to inflationary pressures. However, growth remained supported by key sectors such as services, mining, and agriculture, along with sound macroeconomic policies that helped ease inflation.
Looking ahead, Madam Hashi said the economy is projected to accelerate, with growth rates of 4.4% in 2025 and 4.8% in 2026. These projections are underpinned by continued reforms in the agriculture sector and expansion in mining and services. She urged the Government of Sierra Leone to maintain its reform momentum to achieve economic diversification and strengthen its resilience to external shocks.
“The African Development Bank remains strongly committed to partnering with Sierra Leone to diversify the economy and create sustainable jobs, particularly for women and youth,” she emphasized.
Delivering the keynote address, Deputy Minister of Finance II, Bockarie Kalokoh, highlighted encouraging signs in the domestic economy. He noted that the projected 4.4% growth in 2025 reflects ongoing progress in mining, agriculture, and services.
Minister Kalokoh also reported a steady decline in inflation, which fell from 9.38% in April to 7.55% in May 2025. Additionally, the Leone has remained relatively stable against the US dollar since mid-2023, and the fiscal deficit narrowed from 5.3% of GDP in 2023 to 4.8% in 2024 an outcome attributed to the government’s fiscal consolidation efforts.
He welcomed the report’s recommendations, including accelerating the Feed Salone programme, strengthening institutional frameworks for climate resilience, and enhancing revenue generation from sectors such as mining.
The report also calls for improved fiscal efficiency, better governance, and a stronger rule of law to maximize the impact of domestic capital. Minister Kalokoh reaffirmed the government’s commitment to collaborating with development partners, the private sector, and international organizations to ensure capital contributes more effectively to Sierra Leone’s development goals.
