First Independent Power Producer (IPP) approved
The House of Parliament on Thursday 29th May 2014 unanimously ratified a power purchase agreement between the Government of Sierra Leone and Copperbelt Energy Cooperation (CEC) Africa, Sierra Leone Limited. The Project will represent a 220M US Dollar investment into the economy as well as creating jobs for two hundred people during the construction work and additional jobs when its fully commences operation. The agreement was laid on the table of parliament on Friday 23rd May 2014. Presenting the Power Purchase Agreement the Attorney General and Minister of Justice, Mr. Frank Kargbo said his government and CEC Africa signed the agreement on the 14th May 2014 for the construction of a 128 Mega Watt power plant. He informed that the capac…
World Corruption Ranking improves to 119 out of 175
Sierra Leone has been ranked 119 out of 175 countries by Transparency International’s Corruption Perception Index (CPI) for 2013. The Corruption Perception Index is based on experts’ opinions of public sector corruption, and countries’ scores can be helped by strong access to information systems and rules governing the behaviour of those in public positions; while a lack of accountability across the public sector – coupled with ineffective public institutions – hurt these perceptions. According to a release byTransparency International Sierra Leone, this year’s CPI indicates that although the country improved in rank, its score reduced slightly in terms of progress made in the fight against sleaze.
The organisation noted that the redu…
Company Incorporations made easier
The Sierra Leone Investment and Export Promotion Agency (SLIEPA) is the country’s official agency to assist and inform investors and exporters. There has been significant improvements in the ease of doing business in Sierra Leone. New businesses are registered with the Office of the Registrator General while the Sierra Leone Chamber of Commerce is the oldest voice of the Private Sector in the country.