Ambassador Musa proposes economic mission to Lux- Africa Investment Association

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.

Minister of Planning pledges Sierra Leone’s commitment to climate change

During the 112th session of Council of Ministers of the Organization of African, Caribbean and Pacific States (OACPS) the Minister of Planning and Economic Development, Dr Francis Kai-kai pledged Sierra Leone’s commitment to the climate change.

This session was held virtually for three days with the Sierra Leone delegation led by the Minister of Planning and Economic Development and was attended by the Sierra Leone Ambassador to Belgium, H.E Samuel Tamba Musa and Mr. Saifu George, First Secretary in the Embassy.

The Session considered the report of the Secretary-General of the OACPS and the report of the OACPS Committee of Ambassadors submitted to the Council of Ministers for adoption.

 Key areas the Minister highlighted in an interview after the meeting was that of climate change, biodiversity and the resolution of the new name for the new partnership agreement which is the Samoa Agreement which has been endorsed by the Council.

This New Partnership-Agreement was initialed by both the OACPS and the EU in April, 2021 following negotiations by both sides and is to be signed later in 2021 or early 2022 in Samoa following the completion of procedures for approval.

As a country where fisheries remain a vibrant sector of the economy, the Minister of Economic Development endorsed the presentation on the state of play of the fisheries negotiations by the Foreign Minister of Jamaica, Kamina Johnson-Smith.

Minister Kai-Kai then committed Sierra Leone to the outcome of the next steps of negotiations on the matter.

 During the plenary proceedings relating to the presentation by the Secretary-General of the OACPS strategic plan of the organisation, Dr. Francis Kai-Kai made an intervention on the role of member states in the preparation of the strategic plan. He drew attention to the lessons learned from the European Development Fund (EDF) and counted on the preparedness of member states in terms of the benefits envisaged from the new partnership arrangement with the EU.

On the issue of climate change and climate financing, the Minister said in the interview that “climate change is a universal issue which we have recognized a long time ago” and as a country, he maintained, Sierra was very vulnerable to climate change in relation to some studies which have ranked the country as the third most vulnerable country to the affairs of climate change in the world.

He disclosed that Sierra Leone will continue to prioritize any action that would help mitigate the impact of climate change and the issue of biodiversity which contributes to climate change. He expressed Sierra Leone’s determination to be part of this global momentum to deal with climate change and sustainable development.  He expressed the willingness to support any legislation or resolution that would enable regulate the exploitation and ensure the utilization and conservation of our resources.

Another crucial area was one that had to do with the issue of digital connectivity and digital solutions programme to strengthen the resilience of education, health and micro, small and medium-sized enterprises systems to COVID-19 in ACPS countries.

With education being the flagship initiative of this government, Dr Francis Kai-Kai maintained that “we continue to support free, quality education” as according to the Minister, “22% of our national budget goes to this sector and a reasonable one goes to health and that of agriculture”. These are three legs of the flagship programme the Minister emphasized to promote human capital development and which the government remains very supportive of in terms of the resilience of the country to development.

Contact

Betty Milton 

Information Attachè

+32 467605529

information.attache@be.slembassy.gov. sl