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,mining and infrastructure was highly contributive
to this positive economic outlook
Government’s efforts supported 1000 Medium
and Small scale Enterprises to increase their competitiveness across key value chains ( HE’s Parliamentary Speech :2016)
Establishment and rolling out of the Integrated Financial Management System ( IFMIS) leading to
strengthened commitment to expenditure control
Finalization of the Sierra Leone Public Financial
Management Strategy (2014- 2017) with a focus
on revenue management, public investment planning and the establishment of a Single Treasury
Account.
Completed the digital re-registration of 869 companies in the Corporate Affairs Commission Database, making them available on line
Strong Government action to improve access to
commercial justice including some decentralized
case processing to increase access in the district.
CORPORATE GOVERNANCE
• Government has taken serious measures to address
the limited access to affordable finance by Small
Medium Enterprises ( SME’s) including the Bank
of Sierra Leone strides to pilot a number of bills:
the Securities, Collective Investment and the Credit
Administration and Debt Recovery Bills. These Bills
when finally enacted will facilitate increased access to finance for Sierra Leonean business people
as well as deepen the financial sector
• Establishment of a Collateral Registry to enable Sierra Leoneans to use moveable and immoveable
property to secure loans from commercial banks.
The Bank of Sierra Leone is also working closely
with the Ministry of Finance and Economic Development for the enactment of a Finance Leasing
Facility Act to facilitate lending through leasing to
Sierra Leonean SME’s.
• Government has also tried to provide an improved
legal, policy and institutional framework for sustainable debt management with the passing of
the Public Debt Law that is laying a framework
for public sector borrowing and debt management
including the process of on –lending issuing government guarantees and monitoring of contingent
liabilities.
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• Creation of Draft Corporate Governance Code
that helps in regulating the public, private and informal sector was the first of its kind in the country.
In addition to this ,an adequately staffed Compliance Unit was established charged with the
responsibility of ensuring adherence to statutory
and regulatory obligation of the Corporate Affairs
Commission (CAC) and companies
• The Ministry of Trade in close working collaboration with the Soros Foundation instituted the Business Bomba Award that seeks to encourage indigenous business people by creating a business
incentive programme.
SOCIO-ECONOMIC DEVELOPMENT
• Government increased spending on the social sector especially in education and health. In 2015
and 2016, it increased spending in education to
Le 210 billion and Le250.3 billion respectively.
For the first 10- 24 months Post-Ebola Presidential
Recovery Priorities, Le 94.9 billion was allocated
to the Ministry of Health and Sanitation including
Le.37.9 billion for the procurement of Free Health
care and Cost Recovery Drugs and Le.10.0 billion
to support public health in Sierra Leone.
• Improved quality instruction in schools as new curricula content in the core subjects was introduced.
A piloted incentive scheme in 1,200 primary and
150 junior secondary schools in Kambia, Tonkolili, Pujehun, and Kenema district was implemented.
The scheme provides financial rewards to schools
based on how well they manage and maintain
as well as how much learning improvement takes
place over time. Every school and district is rated
and ranked in terms of performance in the primary, junior and senior secondary school levels (
Presidential Parliamentary Speech 2016)
• Launched the National School Feeding Programme
• Government achieved the maintaining of a zero
Ebola infection rate and in strengthening of health
care delivery system. It absorbed into the pay roll
500 nurses that volunteered their services during
the Ebola outbreak
• Built a resilient health system that is well positioned
to prevent, detect and respond to any public health
threat. It also established public health
APRM Sierra Leone | Annual Progress Report