Sierra Leone like many African countries is taking giant steps towards economic diversification; it has bright economic prospects. The country is rich in natural resources especially diamonds, gold, bauxite and aluminium. Growth is expected to accelerate to 3.1% in 2021 and 4.3% in 2022 (Africa Development Bank).
In diversifying the economy and decreasing its reliance on minerals, agriculture is projected to grow at an astronomical rate; this has to be spurred by increased investment and expansion in crops, livestock and fisheries. Activities in agriculture, manufacturing, construction as well as the resumption of iron ore and bauxite production and export, are expected to improve the country’s export potential, with a focus on tourism as a driver to economic development. Sierra Leone’s revenue authority is currently augmenting ongoing domestic revenue mobilization efforts by deepening ongoing financial sector reforms to support domestic market growth.
