By Kadijatu Bangura, D.S. Reporter
The Government of Sierra Leone has secured a substantial €12 million economic empowerment initiative funded by the European Union, aimed at enhancing small businesses and agricultural enterprises in Bo, Kenema, and Kailahun Districts.
Dubbed the “Salone Access to Finance Project,” this initiative features a €6 million grant facility designed to assist local entrepreneurs in scaling their operations, boosting productivity, and creating jobs within rural communities.
Implementation of the program is a collaborative effort involving the United Nations Capital Development Fund (UNCDF), Vista Bank, and Safe Capital Microfinance. These partners are set to provide matching grants, financial services, and technical assistance to businesses eager to expand.
Participants across the eastern and southern regions report significant advancements in production and market access, thanks to the initiative. For example, the Sinava Women in Agriculture group received a grant of SLE 400,000, which enabled them to acquire processing equipment for gari production. This investment has not only expanded their operations but has also allowed them to diversify their offerings, including the introduction of cassava ice cream.
Another success story is Ngoyeilah Agriculture Business, owned by Yema Hassan, which has been able to increase its rice output with the program’s support. The enterprise now supplies rice to the World Food Programme’s school feeding initiative, thereby strengthening local food supply chains while improving income opportunities for farmers.
The Ever Green Women Agricultural Business is also reaping benefits by transitioning from manual to mechanized gari production. This shift is expected to enhance efficiency, increase output, and improve product quality, expanding their market reach.
In Kailahun District, the Lanaya and Liloma Cocoa Cooperatives have received funding that permits them to purchase larger quantities of organic cocoa from local farmers. These cooperatives are investing in improved storage facilities to enhance product handling and quality control, reinforcing their supply chain with Tradin Organic, a Dutch company specializing in organic agricultural commodities.
Beyond grant assistance, the Salone Access to Finance Project offers participating enterprises access to low-interest loans, along with training programs focused on financial management, governance, and market competitiveness.
Development partners emphasize that strengthening small businesses and agricultural cooperatives is vital for fostering resilient local economies. They assert that investing in farmers, processors, and rural enterprises will unlock economic opportunities while promoting job creation and food security.
As this initiative expands its reach across additional districts like Bo and Kenema, stakeholders are optimistic that the EU-funded program will significantly empower entrepreneurs and contribute to sustainable economic growth throughout Sierra Leone.
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