Business and Investment sidenote

Both citizenry and the media focus on the past conflict, poverty and the behaviour of politicians and the governmental machinery in the handling of debt, aid, poverty and service of infrastructural assets influenced the way Sierra Leone is discussed externally, reinforcing perceptions of a country of numerous problems affecting investor’s confidence doing business in the country.

Sierra Leone was and still appears to be seen as a risky country with little understanding of its diversity and internal dynamics to do business. The Income Electric (energy provider from Nigeria) saga with the government has buttressed this view in many minds which must not be taken lightly or brushed under the political carpet. Image or character of a country is dented and affected more so by perceptions garner from a single event which can take a long time to control, repair or recover from.

If you are branded a thief or corrupt will be a stigma making it very difficult to find genuine partners anywhere both local and international to work with period. But despite the presence of these obvious problems, the country deserves to be seen as a country of opportunities. Business leaders, and mostly investors in and out of Africa, feel this growing sense of confidence in the future of Sierra Leone, but playing the wait and see strategy in the unfolding scenarios pertaining to the new government’s ability and capacity to handle situations both seen and unforeseen is the main issue at present. As the saying goes, all hands on deck! Yes but what part of the deck?

Business has a crucial educator role within every community and society as well as more broadly to challenge misconceptions about business investment in Africa through stories that convey the diversity and opportunities of the continent. Trade and business has the potential to be a powerful engine for Sierra Leone’s development. So a failure to be more dynamic in approach, develop a home grown business and trade blueprint using vibrant, experienced and rhetoric individuals with proven capacity would be foolish, unacceptable and suicidal to the success of any government generally. Businessmen investing across the continent recognise the importance of a successful and ambitious outcome to local trade economy, for Africa and its people, and for business.

Government as an urgent priority has to reinvigorate its efforts to achieve a positive solution to its economic blueprint by empowering local indigenous businessmen and businesses where ever they maybe and not relying on outside players or investments. According to the World Bank in 2006 2/3 of African countries made at least one reform, and Tanzania and Ghana rank among the top 10 reformers. While Africa in the last two years was the slowest reforming region in the world, this year it is the third fastest, after Eastern Europe and the OECD high-income countries. South Africa and Mauritius are among the world’s top 30 places in terms of ease of doing business. (more…)