Sierra Leone must prioritize industrial value-added to generate increased export revenue

Murtala Mohamed Kamara: Sierra Leone Telegraph: 15 July 2024:

While I was recently in Accra, Ghana for a German visa interview, I was also invited to attend the first West African Industrial Summit by the then Ghanaian trade minister on July 21, 2016. I had previously met the minister at a World Economic Forum meeting in Cape Town, South Africa and he had urged me to attend the summit while I was in Ghana.

At the summit, I witnessed the impressive range of Made in Ghana products, including cars manufactured by Kantanka Automobile, showcasing the country’s capability for value addition. In contrast, despite Sierra Leone’s rich history as an educational hub, the government has yet to fully leverage its resources and education system towards adding value to its products.

Sierra Leone is abundantly blessed with resources such as minerals, fertile land, and ample rainfall. However, rather than enhancing local processing and manufacturing, the country often exports raw materials without adding value.

This missed opportunity hinders economic growth and deprives the population of potential job opportunities and economic benefits. For instance, despite being a significant diamond producer for decades, Sierra Leone surprisingly lacks a diamond cutting and polishing industry.

Driving to the Eastern part of Freetown this week, I saw an impressive boat under construction. I asked who was behind it and was introduced to Emad. He said the boat could be compared with other overseas boats after completion. The plan is to construct these boats in Sierra Leone if he gets the support.

The absence of value addition is evident across various sectors in Sierra Leone, from mining to agriculture and manufacturing. Mining communities like Rutile and Kono continue to grapple with poverty despite being rich in resources.

Moreover, there is a lack of industries processing timber into high-quality furniture or minerals into refined products, limiting the country’s export base.

Individuals like Emad, who demonstrated local manufacturing capabilities by independently constructing boats, embody the untapped potential within Sierra Leone.

By supporting and collaborating with skilled entrepreneurs like Emad, the government and private sector can foster a culture of value addition and entrepreneurship in Sierra Leone, leading to economic growth and job creation.

Experts emphasize that integrating value addition into Sierra Leone’s exports will not only boost economic development and GDP but also generate income and reduce unemployment rates.

By prioritizing value-addition strategies, Sierra Leone can unlock the full potential of its resources and workforce, paving the way for sustainable growth and prosperity in the country.