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Secure .gov websites use HTTPS The economy has potential in five main areas: agriculture, fisheries, mining, tourism, and small-scale manufacturing. It has turned out that there is no magic bullet, that neither financing supposed investment gaps; nor intensive support to education; nor population control; nor structural adjustment; nor privatization; nor debt relief; nor other supposed development solutions have delivered as expected and as promised. For many, it was outright uncomfortable not knowing if they would receive sufficient support while quarantining. Doing business in Sierra Leone - tough but not impossible While this may be a statement of fact from the donors perspective, it is viewed as a not too subtle threat from the vantage of the recipient government. Activities and Societies: Peace Corp. This article will try to promote the idea of Corporate Social Responsibility (CSR) that can be adopted in Sierra Leone in order to reduce environmental and capitalist gains and promote development. I have also seen more than one example where donors torpedo their own projects and then blame their clients. The total number of days required to register property. The total number of procedures legally required to register property. Show publisher information In particular, two of the governments recent priority initiatives supported by TBI demonstrate how Sierra Leone has used technology, data and innovation to both deliver on a key presidential priority and respond to Covid-19. The ideas and views I plan to share with you this morning reflect the experience of many in the Government of Sierra Leone, but I alone am responsible for the content of this presentation. 5 Challenges Faced by Small Businesses and How to Solve Them DB 2020 Dealing with Construction Permits Score, DB 2020 Protecting Minority Investors Score, Details Starting a business in Sierra Leone Procedures, time and cost, Figure Starting a business in Sierra Leone Procedures, time and cost, Figure Starting a business in Sierra Leone Scores (0-100), Details Dealing with construction permits in Sierra Leone Procedures, time and cost, Details Dealing with construction permits in Sierra Leone Measure of quality, Figure Dealing with construction permits in Sierra Leone Procedures, time and cost, Figure Dealing with construction permits in Sierra Leone Scores (0-100), Details Getting electricity in Sierra Leone Procedures, time and cost, Details Getting electricity in Sierra Leone Measure of quality, Figure Getting electricity in Sierra Leone Procedures, time and cost, Figure Getting electricity in Sierra Leone Scores (0-100), Details Registering property in Sierra Leone Procedures, time and cost, Details Registering property in Sierra Leone Measure of quality, Figure Registering property in Sierra Leone Procedures, time and cost, Figure Registering property in Sierra Leone Scores (0-100), Details Credit information in Sierra Leone, Figure Getting credit in Sierra Leone Score (0-100), Details Protecting Minority Investors in Sierra Leone Measure of quality, Figure Protecting Minority Investors in Sierra Leone Score (0-100), Details Paying taxes in Sierra Leone - Tax by type, Details Paying taxes in Sierra Leone Measure of quality, Figure Paying taxes in Sierra Leone Scores (0-100), Details Trading across borders in Sierra Leone Components of border compliance, Details Trading across borders in Sierra Leone Trade documents, Details Trading across borders in Sierra Leone Domestic transport, Figure Trading across borders in Sierra Leone Scores (0-100), Details Enforcing contracts in Sierra Leone, Details Enforcing contracts in Sierra Leone Measure of quality, Figure Enforcing contracts in Sierra Leone Scores (0-100), Details Resolving insolvency in Sierra Leone, Details Resolving insolvency in Sierra Leone Measure of quality, Figure Resolving insolvency in Sierra Leone Scores (0-100), http://www.doingbusiness.org/en/methodology. A perhaps inevitable stimulation of a dependency mentality among too many of our citizens who have become too used to external assistance - this is apparent from the rise of street begging, to the plethora of new local NGOs with names that reflect the latest aid trends in order to better capture grant aid that will support their founders and staff and - sometimes secondarily - also benefit their target groups. We also used our network of funders and central fundraising team to facilitate donor engagements. Certainly this list is not exhaustive but I think, taken as a whole, it captures some of the socio-cultural constraints as well as economic challenges we have faced. This page includes a chart with historical . DISPUTE RESOLUTION. Cost is recorded as a percentage of the warehouse value. Editors Note: This article was first published in May 2007. Disclaimer: If an economy had zero insolvency cases a year over the past five years involving a judicial reorganization, judicial liquidation or debt enforcement procedure (foreclosure or receivership), the economy receives a no practice mark on the time, cost and outcome indicators. Each of the five selected innovations has a different area of emphasis: pedagogy, remedial methods, parental involvement, use of tablet devices and community engagement. However, by the time Sierra Leone started recording cases in March 2020, the challenges related to quarantine, tracking of passengers and information sharing had begun to present themselves. If neither VAT nor corporate income tax applies, the postfiling index is not included in the ranking of the ease of paying taxes. Washington, DC 20230. The African Development Bank-backed Bumbuna hydropower plant meant to provide electricity to Sierra Leonians and thus boost the economy was inaugurated on November 6, 2009. Second, it was important to understand the context of the country and build solutions with that context in mind. Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments. Find the right person to help you navigate international regulations . Official websites use .gov 15516 views, By Titus Boye-Thompson, Freetown, Sierra Leone. Sierra Leone - Market Opportunities - International Trade Administration Overseas Business Risk: Sierra Leone. "Ease of doing business in Sierra Leone in 2020, by topic." First, the introduction of technology and innovation can be overwhelming if done all at once and this can lead to high resistance. Sierra Leone - Market Challenges - International Trade Administration We are the largest city in Sierra Leone and home to our nation's legal, business and diplomatic communities. Developing country - Wikipedia 2. Sierra Leone's economic freedom score is 52.0, making its economy the 140th freest in the 2022 Index. OPPORTUNITIES & CHALLENGES. Sierra Leone was then, and is today, a religiously plural, multi-ethnic society with 13 principal ethnic groups. Register in seconds and access exclusive features. The total number of procedures required to build a warehouse. Data and Development in Sierra Leone | Institute for Global Change The World Bank highlighted challenges in access to credit, resolving insolvency, access to electricity and construction permits, but noted improvements in payment of taxes, cross-border trade and starting a business. ", Largest Canadian companies 2023, by market capitalization, Ease of doing business in Canada 2020, by topic, Number of employer businesses in Canada 2022, by industry, Fastest growing startups in Canada, by two-year revenue growth 2020. The ease with which businesses can secure rights to property is shown below. The UN report recommends, for example, that government support: Creation of a Political Party Commission, an all parties association, a stronger National Electoral Commission and district peace committees; Distinguished guests, ladies and gentlemen: I would like to begin by thanking Chatham House for inviting me to participate in this important conference. A weakening of national sovereignty and decision-making authority when loans and grants come with many and sometimes difficult terms and conditions and are then micro-managed by the donor institution.. Viewed more broadly from the perspective of the developing world, there appears to be an assumption of a global consensus - which is really a Western consensus - on how a country should develop. Secure .gov websites use HTTPS This index ranges from 0 to 10 and has six components. Mr. Chairman, At independence in 1961 Sierra Leone had a functioning multi-party democracy that was superimposed on a traditional political structure based on the African system of chieftancy. Several donors are better able to deliver infrastructure (school buildings; clinic buildings; road upgrading) than to help us ensure that the infrastructure will be sustainable by supporting activities inside those buildings that will improve the quality of education, the quality of health care delivery, etc. The military was unable and sometimes unwilling to defend the country and some soldiers worked for government by day and the guerrillas by night. The number of days to obtain a permanent electricity connection. These decades were marked by periods of political instability, including repeated military coups and attempted coups; the ill-advised resort to the creation of a one-party state and the abolition of elected local governments in the early 1970s; endemic corruption; periodic bursts of inflation sparked by budgetary excesses and long periods characterized by weak economic growth, little or no real development and very low levels of donor aid. Create a National Centre for Conflict Transformation that would have a strong training role; and The Sierra Leone Economic Diversification Project will help strengthen the business enabling environment by promoting reforms to . In: Home . The total number of procedures required to register a firm. as a result of our policies, attracted substantial donor aid to help rebuild social and economic infrastructure including schools, clinics, markets, feeder roads and others through our national social fund which I head and through projects being implemented directly by ministries; Measures on credit information sharing and the legal rights of borrowers and lenders are shown below. The measure captures the median duration that property lawyers, notaries or registry officials indicate is necessary to complete a procedure. Start a fashion business. As the third wave of Covid-19 hit Sierra Leone in the third quarter of 2021, the NaCOVERCs ICT pillar conducted another refresher training session on use of the application, with support from DSTI. Donors need to be more flexible, less paternalistic, less directive and listen more to the experiences of those who live and work daily on development issues in the countries they visit. 1401 Constitution Ave NW Mr.Chairman, GOVERNANCE & RULE OF LAW. At the 2019 Heads of State and Government of the Economic Community of West African States (ECOWAS) summit, President Bio stated: Our country defines human capital development in terms of equal and free access to quality education that also involves skills training and innovation. A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. Too many projects take 2,3,4 or more years to design - or rather over-design - are then expected to satisfy multiple goals and objectives and are required to adhere to a dizzying array of rules, regulations, trigger points, benchmarks, timetables, indicators, log frames, budgetary caps by component and sub-component; monitoring and evaluation requirements; environmental standards; reporting schedules, etc. The Tony Blair Institute for Global Change (TBI) has been supporting governments across Africa to harness the power of technology and data to achieve their priorities. Without this combination of external efforts, I fear to imagine what condition Sierra Leone would be in today and we thank them most sincerely. The local content policy instituted in 2016 requires investors to utilize local goods in place of imported goods, promote the employment of citizens, and develop the human capacity of these citizens through training. It is written by Brian C. Pinkham, Ken Mark and shed light on critical areas in . As a foreign investor, Mr. Elba should know that there are certain realities about doing business in Sierra . A total of 18,277 students are . The UN Inter-Agency report and recent academic studies such as William Easterlys The Elusive Quest for Growth, suggest that strong national and local institutions are key to reconciliation and sustainable development. 1. Data and Evidence for Decision-Making: The Human Capital Development (HCD) Incubator, Use of Technology Informed by Local Context: The Quarantine Application, Lessons and Recommendations for Delivering Tech Public-Service Solutions in Low-Income Countries, James Fomba (Pillar Lead, Quarantine Pillar, NaCOVERC), https://institute.global/policy/how-sierra-leone-using-technology-data-and-innovation-overcome-service-delivery-challenges. The building quality control index is based on six other indicesthe quality of building regulations, quality control before construction, quality control during construction, quality control after construction, liability and insurance regimes, and professional certifications indices. The Legal Rights Index ranges from 0-12, with higher scores indicating that those laws are better designed to expand access to credit. The index is the sum of four component indices: commencement of proceedings index, management of debtors assets index, reorganization proceedings index and creditor participation index. As remote working became a necessity just as driving a robust public-health response remained a priority, TBI supported the government with establishing systems to enhance information sharing and communication among the different pillars of the response: surveillance, security, nutrition, risk communications, psychosocial matters, labs, case management, and drug and medicine supply. The Challenges of Corporate Social Responsibility in Sierra Leone Report from Department for International Trade and the Foreign & Commonwealth Office looking at potential risks for UK businesses operating in this country. Photo credit:James Fomba (Pillar Lead, Quarantine Pillar, NaCOVERC). Increase police and military training in mediation and grievance management; The measure captures the median duration that the electricity utility and experts indicate is necessary in practice, rather than required by law, to complete a procedure. decentralized governance and are devolving some power and resources to the district councils to broaden participation in governance; The extent of ownership and control index measures the rules governing the structure and change in control of companies. The reasons given included poor internet connectivity, having limited time to learn to use the application, and not having enough mobile devices to go around. Sorry, an error occured during your newsletter subscription. The World Bank Doing Business 2020 report ranked Argentina 126th for 'ease of doing business'. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Research Expert covering North Africa, specializing in the socio-economic environment of Algeria, Libya, Tunisia, and Morocco, Profit from additional features with an Employee Account. Data. If only VAT or corporate income tax applies, the postfiling index is the simple average of the scores for only the two components pertaining to the applicable tax. Jane Shakespeare - Chief Executive Officer - LinkedIn After the return to power in 1998 of the legitimate government, with the assistance of international military intervention, a by then very weak government nevertheless worked tirelessly to re-establish its credibility and to recover those parts of the country still occupied by rebels. Consider how corporate social responsibility policies and corporate giving programmes can be professionalized; linked to the PRSP and increase their impact by building synergies with public sector development initiatives. FOLLOW US Regardless of these challenges, the business world is gradually accepting women's abilities and contributions. Off a path in Cockle Bay, a slum in Sierra Leone's capital Freetown, lies the squat, tin-roofed house where Lamrana Bah lives and works. All rights reserved. This index measures the degree to which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. Costs are recorded exclusive of value added tax. The Truth and Reconciliation Commission and the Special Court have also brought a measure of justice and some comfort to the wars many victims. The extent of director liability index measures when can board members be held liable for harm caused by related-party transactions and what sanctions are available. Access to this and all other statistics on 80,000 topics from, Show sources information BUSINESS & HUMAN RIGHTS. The time and cost required to resolve bankruptcies is shown below. The extent of corporate transparency index measures the level of information that companies must share regarding their board members, senior executives, annual meetings and audits. While some of my comments may also apply to other governments in difficulty, I will be talking today specifically about the Sierra Leone experience since it is the one I know best and it offers a case study of government and social collapse into civil war followed by a remarkable joint national-international effort to end the conflict, build peace and regain the confidence of a badly traumatized people in their national institutions and leadership. Brand marketing; Branding without marketing is like an engine without fuel. Registering a new company in Sierra Leone is done through the Corporate Affairs Commission Setting up a business in Sierra Leone. It includes all official fees and fees for legal or professional services if such services are required by law. have made major contributions complemented by our bilateral partners, especially Great Britain (DfID) who did so much both in the security and economic areas. Bachelor of Science - BSSociology. Over the years, Sierra Leone has made significant reforms in easing the process of setting up a business, including establishing a one-stop shop for company registration. Sierra Leone: Trade facilitation improvements are starting to bear fruit