NIB Proposes Le 22 Million Budget to Drive Investment and Launch 24-Hour Business Registration

Freetown, Monday 22nd September 2025 — The National Investment Board (NIB) has submitted a Le 22 million budget proposal for the 2026–2028 Medium-Term Expenditure Framework (MTEF), aimed at accelerating investment promotion and rolling out a 24-hour digital business registration system in Sierra Leone.

Presenting the proposal at the Ministry of Finance, Executive Director Dr. Edward Hinga Sandy outlined the Board’s strategic priorities, which include investment promotion, public-private partnerships (PPP), and corporate affairs such as business registration.

Dr. Sandy emphasized that the NIB’s central mission is to attract both local and international investors in line with the Government’s Medium-Term National Development Plan and the “Big Five” priorities.

“Our goal is to channel private capital into infrastructure, energy, and other enabling sectors that drive growth,” he stated.

The proposed Le 22 million allocation marks a modest increase from last year’s Le 19.5 million. According to Dr. Sandy, the additional funds are needed to support the NIB’s ambitious reforms — including digitizing the business registration process, establishing a one-stop shop for investors, and developing bankable projects in sectors such as roads, maritime, and energy.

A highlight of the plan is the introduction of a new digital platform that will enable businesses to register within 24 hours, eliminating bottlenecks and reducing the influence of unverified intermediaries.

“We want to ensure investors receive accurate guidance—from licensing to registration—so they can focus on doing business once they enter Sierra Leone,” Dr. Sandy noted.

He also disclosed that the Board intends to revise its business registration and facilitation fees to ensure financial sustainability, proposing a restoration of registration fees to between $50 and $60 to improve cost recovery and fund NIB’s operations.

In addition to government funding, Dr. Sandy said the NIB is engaging with development partners to secure supplementary financial and technical support.

“While budget constraints remain a challenge, we are exploring innovative partnerships to maintain full institutional functionality,” he added.

Highlighting infrastructure as a cornerstone for foreign investment, Dr. Sandy underscored energy and transport as key enablers of private sector growth. He explained that when such infrastructure is in place, investors can direct resources into productive sectors rather than basic services.

Concluding his presentation, Dr. Sandy reaffirmed the NIB’s commitment to fostering a business-friendly environment that attracts international capital, empowers local entrepreneurs, and drives sustainable growth.

“We are building a system that inspires confidence—whether investors are coming from abroad or within Sierra Leone,” he affirmed.