Doing Business in Sierra Leone

Subject (Course): International Trade and Business in Sierra Leone. Freetown.

Syllabus:

1. Introduction to the Republic of Sierra Leone (West Africa).
2. Doing Business in Freetown
3. The Economy of Sierra Leone
4. Foreign Trade of Sierra Leone
5. Export Procedures in Sierra Leone
6. Business and Investment Opportunities in Sierra Leone
     - Agriculture
     - Tourism
     - Marine Resources
     - Infrastructure
     - Mining
     - Oil and Gas
7. Foreign Direct Investment (FDI) in Sierra Leone
8. Access to the Sierra Leonean Market
9. Business Plan for Sierra Leone

Objectives of the subject "Doing Business in the Republic of Sierra Leone":

1. To analyze the Sierra Leonean economy and foreign trade
2. To evaluate business opportunities in the Republic of Sierra Leone
3. To explore Sierra Leone's trade relations with the student's country
4. To know Sierra Leone's Free Trade Agreements (FTAs)
5. To develop a business plan for the Sierra Leonean Market

Sample of the subject (Doing Business in Sierra Leone):

Subject Description (Doing Business in Sierra Leone).

The Republic of Sierra Leone: the fastest growth economy in West Africa.

1. Borders of Sierra Leone: Guinea-Conakry and Liberia
2. Area: 72,000 km² (one of the smallest African nations)
3. Sierra Leonean population: 6.3 millions of people
4. Capital: Freetown (1.2 million)
5. Other cities: Bo, Kenema, Koidu Town, and Makeni
6. The official language of Sierra Leone: English.
7. Local languages: Temne, Mende, and Krio
8. The Government: Constitutional Democracy
9. The Legal system: English common law
10. Sierra Leone was created in 1787
11. Independence: 1961 (UK)

The main religions in Sierra Leone:

1. Islam (71%)
2. Christianity (27%)

Sierra Leone belongs to the West African Economic Area of the African Civilization.

The economy of Sierra Leone:

1. Sierra Leonean GDP: 1.99 billion dollars
2. GDP growth rate: 13.8%
3. The average GDP growth rate: 5.1 % (2000-2011)
4. Most Sierra Leonean dynamic sectors: agriculture, construction, manufacturing, services, and iron-ore mining
5. Agriculture sector: 51% of GDP/17% of exports/61% of the workforce. Top products: coffee, cocoa, and oil palm
6. The main resources: mineral, tourism, agriculture, marine, oil and gas, energy, and fishery
7. Top Sierra Leonean export products: diamonds, rutile, and bauxite iron ore
8. Major trading partners: China, India, the UK, the US, South Africa, and Belgium
9. Common External Tariff (CET) of the Economic Community of West African States (ECOWAS)
10. Foreign Direct Investment (FDI): 740 million dollars

Sierra Leone has preferential access to the markets of:

1. Economic Community of West African States (ECOWAS)
2. West African Monetary Zone (WAMZ)
3. Mano River Union
4. The European Union: Generalized System of Preferences/Cotonou Agreement/Everything But Arms (EBA).
5. African Growth and Opportunity Act (US) - AGOA

Logistics:

1. Dakar-Lagos Corridor
2. West African ports

Sierra Leone is a member of:

1. Organization of Islamic Cooperation (OIC)
2. Islamic Development Bank
3. Economic Commission for Africa (ECA)
4. New Partnership for Africa's Development (NEPAD Sierra Leone)
5. African Union (AU)
6. African Development Bank
7. Sierra Leone-South America Summit (ASA)
8. Forums Sierra Leone - China/India