The Ministry of Trade and Industry of Sierra Leone in partnership with the Ministry of Finance and the Bank of Sierra Leone has Initiated Diverse Rendition
By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Dr. Hinga Sandy – Sierra Leone’s Minister of Trade and Industry, informed essayists at a press briefing last week that, his ministry has begun on several institutional reforms for productive service delivery. He announced that, the new systems will enunciate to the necessities of the country as the ministry responsibilities itself to rein reliefs across the planet in order to thrive the country’s economy.
Dr. Sandy furthered, one of the enormous undertakings his ministry is conducting on along with the Ministry of Finance is the enactment of a National Micro Credit Scheme that will contribute budgets for small businesses. He strengthened that, his ministry in alliance with the Ministry of Finance and the Bank of Sierra Leone, has been proficient to maintain fundamental customer stocks to meet the demands of the people of Sierra Leone, by delivering Five Hundred Billion Leones credit facility to importers.
Minister Sandy noted, as a result of this credit facility and regardless of the country getting on through tough moment thus, the Novel Coronavirus (COVID-19) pandemic, prices of vital consumer commodities stay stable.
Rice, he said is available in the country for up to the end of 2020, and that, the more is anticipated to be imported for 2021.
The trade and Industry Minister stressed that, there are sufficient petroleum products in the country, and that the government has opened up the market by bringing up a new player in the petroleum sector who will also be bringing in petroleum products. He noted that, Sierra Leone has enlisted two big market opportunities – the ECOWAS Trade Liberalization Scheme that enables companies within West Africa to trade with businesses in the sub-region, and the Continental Free Trade Agreement that has already been approved. And that his ministry has registered thirty-one companies that are manufacturing goods in Sierra Leone for exporting to other countries.
Considerable industry advertisement policies are presently under review, Sandy stated whilst noting that the ongoing reforms will entice investments the more into Sierra Leone.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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