By: Aminata Sesay
Financial institutions have been called upon to rethink their role in Sierra Leone’s agricultural transformation as sector players convened in Freetown on 2 December for a high-level dialogue focused on unlocking capital for farmers and agribusinesses.
The “Agriculture Finance Innovation” forum hosted by British International Investment (BII) and Invest Salone brought together commercial banks, microfinance institutions, and agribusiness stakeholders to address a long-standing challenge: although agriculture drives the national economy, it continues to receive only a small portion of the financing it requires.
Across the room, the message was consistent: banks must shift from viewing agriculture as a high-risk sector to recognizing it as high potential.
Minister of Agriculture and Food Security, Dr. Henry Musa Kpaka, explained that work is underway to design a more dependable pipeline for agricultural financing. Options being considered include establishing a dedicated agricultural bank, developing a blended-finance structure, or creating a Special Purpose Vehicle tailored to the needs expressed by farmers.
Several emerging innovations were highlighted during the discussion. These include a Vista Bank and Safe Capital Microfinance matching-grant scheme (50% grant, 50% loan at 15%), funded by the European Union through UNCDF, and Vista Bank’s upcoming partnership with the European Investment Bank.
The Ministry is also collaborating with the Bank of Sierra Leone to introduce a new credit window for 2026, following the successful uptake of approximately 80% of the current facility. According to Dr. Kpaka, accessible financing is essential to advancing the Feed Salone agenda crucial for scaling production, enhancing value addition, and creating sustainable jobs.
BII’s Market Creation Director, Alex Kucharski, noted that the forum served a practical objective: enabling banks and agribusinesses to engage directly, explore opportunities, and understand one another’s constraints.
The session concluded with a collective commitment to expand agricultural financing through stronger partnerships, more innovative financial instruments, and a shared determination to transition Sierra Leone’s agriculture from subsistence to enterprise.