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NEWS : Local News  

Sierra Leone Signs ICF Project Funding Agreement
By Abdul Karim Karim
Oct 9, 2008, 17:19
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On Wednesday 8th October, 2008, the Chief Executive Officer (CEO) of Investment Climate Facility for Africa (ICF), Mr. Omari Issa signed an agreement on project funding with the Minister of Lands, Country Planning and the Environment, Benjamin O. Davies on behalf of government of Sierra Leone.

ICF CEO signing the funding project agreement

The signing ceremony was held at the Conference Room of the Ministry of Information and Communication, Youyi Building, Freetown, in the presence of the Minister of Trade and Industry, Alimamy P. Koroma and the Deputy Minister of Finance and Economic Development, Richard Konteh.

The occasion was also used as an opportunity for unveiling some of the major projects that the ICF has funded across the continent, its objectives and its partnership with the government of Sierra Leone.

Mr. Omari Issa says the project which will be implemented within a year is aimed at streamlining land procedures through the computerization of land administration.

"It will commence in the western area with possible extension to the entire country within the shortest possible time frame," he said, adding that the ICF works to remove the barriers that exist in doing business in Africa in recognition of the fact that a healthy investment climate is vital for the continent’s economic growth.

He explained that the ICF is a unique and unprecedented partnership between private companies, development partners and governments founded on the principle that African governments and the private sector need to work together to enable Africa finally realize its very real investment potential.

"We work with receptive African governments to systematically remove constraints to investment in order to make the continent an even better place to do business," Mr. Omari Issa pointed out, adding that they are committed to delivering tangible and sustainable change over a seven year time frame and will measure our progress solely on our contribution to economic activity.

Mr. Issa says the three primary objectives of the ICF include building the environment for investment climate reform, getting the investment climate on it proper footing by working in partnership with governments to create a legal, regulatory and administrative environment that enables businesses of all sizes and at all levels to grow, invest and create jobs and encouraging business response by improving the continent’s image as an investment destination by publicizing improvements in the investment climate.

He disclosed that the ICF hopes to partner with Sierra Leone in areas like business registration and licensing, land registration and improvement of customs administration.

Lands Minister Benjamin Davies thanked the ICF CEO for signing such a laudable project with his government and expressed hopes for a fruitful partnership.


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