AYV News, March 27, 2025
Oakwood Green Africa, in collaboration with the Intra-Africa Trade Fair (IATF) Secretariat of Afreximbank and in partnership with Sierra Leone’s Ministry of Trade & Industry and Ministry of Finance, successfully concluded the 2025 IATF Stakeholder & Business Engagement Session on March 25, 2025, in Freetown.
Themed: “Bridging the Last Mile: Unlocking Sierra Leone’s Intra-Africa Trade Potential,” the session aimed to enhance Sierra Leone’s participation in intra-African trade and investment ahead of IATF 2025 in Algiers, Algeria.
Gabriel Edgal, Afreximbank Intra-African Trade Ambassador and Group Chairman of Oakwood Green Africa, commended Sierra Leone’s resilience and entrepreneurial spirit while emphasizing the need for economic transformation. He noted that despite the country’s abundant natural resources, it remains a net importer of goods it could produce and export.
He called for a shift towards a production-driven economy through trade-enabling infrastructure and strategic partnerships. Edgal Gabriel highlighted Afreximbank’s role in supporting Sierra Leone’s trade development through financial products, trade finance and digital trade solutions such as the African Trade Gateway, PAPSS and the MANSA platform.
Gabriel Edgal encouraged Sierra Leonean businesses to take advantage of IATF 2025, which expects over 35,000 delegates, 2,000 exhibitors and projected trade deals exceeding $44 billion.
He stressed that participation in the fair would help Sierra Leone secure investments and foster regional trade partnerships reaffirming Oakwood Green Africa’s commitment to facilitating trade transactions, bridging capital gaps and connecting businesses to continental opportunities.
Minister of Trade, Alpha Sesay, highlighted the underutilization of African trade, with intra-Africa exports accounting for less than 20%, compared to over 60% in Asia and Europe. He noted that Sierra Leone trades less than 15% of its exports with AU member states, illustrating the challenges and opportunities for improvement. Alpha Sesaypointed to infrastructure deficits, high transaction costs and complex trade procedures as key obstacles to trade expansion.
He called for private sector mobilization to develop trade-enabling infrastructure, energy and digital platforms. The Trade Minister emphasized Sierra Leone’s rich natural resources, including iron ore, timber, cocoa, coffee, cassava and palm oil, which require strategic investments to unlock their full potential. He acknowledged challenges faced by SMEs, such as limited finance access and poor market linkages, which hinder their competitiveness in regional markets.
Alpha Sesay reaffirmed the Government’s commitment to addressing trade facilitation bottlenecks and modernizing Sierra Leone’s trade policies to align with AfCFTA objectives. He stressed the importance of leveraging platforms like IATF 2025 to attract investments, explore partnerships and drive sustainable economic growth further urging stakeholders to prioritize trade expansion, strengthen institutional collaborations and champion Sierra Leone’s participation in intra-African trade.
Governor of the Central Bank of Sierra Leone, Ibrahim Stevens, emphasized intra-African trade’s role in economic growth and highlighted the AfCFTA’s importance in trade liberalization. He noted that trade is central to economic transformation and urged businesses to leverage platforms like IATF to form strategic partnerships.
He outlined the Bank of Sierra Leone’s initiatives, including strengthening financial stability, expanding trade finance access and improving cross-border payment systems through digital solutions such as RTGS and PAPSS.
Ibrahim Stevens acknowledged Sierra Leone’s trade finance challenges, including limited credit access, currency volatility and payment bottlenecks. He reaffirmed the Central Bank’s commitment to financial inclusion, fintech promotion and regional cooperation under ECOWAS and AfCFTAframeworks. The Governor called for active participation in IATF 2025 to define national trade priorities and forge international partnerships.
Deputy Minister of Finance, Kadiatu Allie, reaffirmed Sierra Leone’s commitment to regional trade and economic integration under AfCFTA. She cited a World Bank report indicating that AfCFTA could connect 1.3 billion people and generate $3.4 trillion in economic output. She also emphasized that the agreement provides small economies like Sierra Leone with access to larger markets and growth opportunities.
Kadiatu Allie highlighted Sierra Leone’s economic transformation, noting GDP expansion from $4 billion to $8 billion, shifting contributions from agriculture (34%) to services (43%) and industry (21%).
She emphasized infrastructure development efforts, including national payment system upgrades, road network improvements and port investment. The Deputy Minister mentioned the Government’s $2.7 billion partnership with Gento Group for a port and railway project to enhance trade facilitation.
She encouraged SMEs to leverage financial support initiatives such as the MUNAFA Fund and a $10 million Agricultural Credit Facility through the Bank of Sierra Leone.
The 2025 IATF Stakeholder Engagement in Freetown served as a vital platform for trade discussions, policy alignment and business networking. With strong commitments from Government officials, financial institutions and private sector representatives, Sierra Leone aims to maximize its trade potential and actively engage in the continental market at IATF 2025 in Algeria.
