By Abubakarr Tarawally
Executive Secretary of SLeCAD Ahmed A. Nanoh addressing entrepreneurs
The Sierra Leone Chamber for Agribusiness Development (SLeCAD), in partnership with Innovation Sierra Leone, and with support from the African Capacity Building Foundation (ACBF), the Islamic Development Bank (IsDB), and other donors, has successfully concluded a one-day Freetown Pitch Night.
The event brought together 14 selected participants to present their business proposals, transforming them into comprehensive business plans aimed at fostering sustainable growth in the agricultural sector.
Held on Friday at the Sierra Palm Hotel, the initiative seeks to enhance the entrepreneurial capacity of women and young people, recognizing their potential to drive agricultural transformation and economic growth in Sierra Leone.
The project focuses on equipping local agribusinesses with essential business skills, market access, and investment opportunities. It emphasizes selecting the most capable entrepreneurs to ensure Sierra Leone remains competitive among participating nations.
According to SLeCAD’s Executive Secretary, Ahmed Aki Nanoh, the initiative is part of a broader strategy to strengthen the agricultural value chain. He noted that the project aligns with the government’s Feed Salone Initiative, which prioritizes key commodities such as rice, cassava, onions, and poultry. However, SLeCAD has chosen to focus on cassava and onions due to their potential to reduce import dependency and boost local production.
Nanoh highlighted that increasing local cassava flour production could significantly cut down Sierra Leone’s annual import bill, which exceeds $50 million. Additionally, cassava can serve as a cost-effective alternative for poultry feed, a move that is expected to revitalize the rural economy and enhance national food security.
Beyond small-scale startups, Nanoh revealed that SLeCAD has already identified 15 to 20 medium and large agribusinesses specializing in rice, cassava, and poultry feed. Those businesses are set to receive a minimum of $5 million in financing over a period of 10 to 15 years at a competitive 5% interest rate, following a rigorous due diligence process.
He further explained that in the pilot phase, 14 selected entrepreneurs will compete, and 10 winners will receive funding between $5,000 and $10,000. If successful, the initiative aims to scale up, securing additional investments ranging from $100 million to $200 million in the future.
Nanoh emphasized that the program is designed not only to provide financial support but also to improve participants’ business management and presentation skills which would enable them to pitch their ideas effectively at major global events such as the World Expo, increasing Sierra Leone’s visibility in the global agribusiness sector.
He added that successful participants will receive financial aid and business mentorship, with the ultimate goal of reducing import dependency and promoting local agricultural production.
Selected entrepreneurs will also have opportunities to showcase their products at international investment forums, secure contracts, attract investors, and expand their businesses.
However, Nanoh cautioned against misusing funds, urging beneficiaries to take their responsibilities seriously. He stressed that success stories from this initiative could attract further investments from donors and development partners.
Fatmata Bah, Chief Executive Officer of Nongowa Green Farmers Association in Kenema, expressed her gratitude for the opportunity, stating that she had learned valuable lessons from other participants that could help grow her business. She emphasized the importance of such programs in fostering knowledge-sharing and networking.
She remains hopeful that Nongowa Green Farmers will be among the winners, allowing them to expand beyond Kenema and Sierra Leone.
Francies John Sesay, a participant from Cassavity Sierra Leone Ltd, also praised the initiative, describing it as an invaluable experience for entrepreneurs. He expressed optimism about the results, stating that even if his business is not among the winners, the knowledge gained will help propel it forward.
Sesay underscored the importance of partnerships in business and encouraged young people to venture into agriculture, emphasizing that food security requires youth leadership. He urged young entrepreneurs to move beyond seeking white-collar jobs and take advantage of opportunities in agribusiness.
The results of the Freetown Pitch Night will be announced soon, determining the 10 beneficiaries who will receive funding to scale their agricultural ventures.
