The Sierra Leone Ambassador to Benelux countries and the EU, Ambassador Samuel Tamba Musa, held a fruitful engagement with members of the Lux- Africa Investment Association where a proposal was discussed for an economic seminar to be held in Luxembourg to be followed by an economic mission to Sierra Leone.
The Lux- African Investment Association is a professional non profitable association whose primary objective is to create and maintain a platform that promotes business exchanges between Luxembourg and the African continent. It Organises, promotes and supports Luxembourg-Africa related business initiatives and events in order to capture long term opportunities.
The team from the Lux-Africa Investment Association included the Co- Founder and Vice President of the Association, Bertrand Moupfouma and a senior member of the communication team Issabella Lemeunier, while Ambassador Musa was accompanied by Sierra Leone’s Honorary Counsel of Luxembourg Mrs Marianne Nati-Stoffel, the First Secretary Mr Saifu George and the Information Attache Ms. Betty Milton.
In his statement, Ambassador Samuel Tamba Musa explained that one of the objectives of the Embassy is to promote trade and investment, disclosing that Sierra Leone has lots of investment opportunities ranging from agriculture and fisheries to mining and tourism. He emphasised that the country has a vast stretch of arable land for agricultural production as well as very beautiful natural locations for the development of tourism.
Ambassador Musa also spoke about Sea Transportation, pointing it out as a viable though largely unexplored area of investment as the cities are situated around the coast.
Ambassador Musa informed the team about incentives that the government has put in place for investments that will create employment for a certain number of local people and he told them about tax exemptions for certain investments. Talking about “the one Sierra Leone Investment Board” that comprises Sierra Leonean think Tanks from all shades headed by the Vice President, Ambassador Musa revealed that this board is principally engaged in accelerating inward investments.
The Sierra Leone Ambassador spoke about the rebranding process of the country, an effort which he said has registered a lot of strides under the New Direction government.
Ambassador Musa also spoke on other issues including the fight against corruption, and the fight to contain the spread of Covid 19. He explained that even with the low vaccination rate the government and people of Sierra Leone have managed to place the infection rate of COVID-19 at relatively low levels.
The Vice President of Lux-Africa Investment Association Moupfouma explained the work of the organization, which he said was set up to create a win- win business relationship with Luxembourg and African countries. He said that the Lux-Africa Investment Association has organised economic missions with hosts of countries in Africa, with financial institutions and entrepreneurs from Luxembourg.
Moupfouma disclosed that Africa is rising but that there is need to educate some actors on what is happening in Africa so as to enhance the rebranding of the continent.
Speaking about their work in Luxembourg, Moupfouma stated that the growth of the world lies on the shoulders of the African continent.
His team, he went on to say, is working on investment, auditing and entrepreneurship, while ensuring that the better country for Africa’s partnership is Luxembourg.
He explained that Luxembourg was one of the first contributors to the African Development Bank and it is also one of the main bases of investment funds, the main base of development startups and technology and one of the main places for the venture into space exploration.
It was agreed at the end of the engagement to organize a productive economic seminar that would look into different projects in different sectors that would include the Luxembourg Chamber of Commerce. The Ambassador will submit a road map for an economic mission to Sierra Leone.
While in Luxembourg Ambassador Musa and team met with the European Investment Bank (EIB), the members of the House of Finance where issues of development and investment in Sierra Leone was discussed.