Harbour will become a trans-shipment port being a natural harbour and the shortest route to South America
that can be used as a hub to trans-ship goods to Latin
America. The terminal have over the last two years
witnessed significant injection of capital and expansion in the existing facilities. The Lungi Airport Ground
Handling Operations have also been contracted. It
however important to note that the Government has
also commissioned the construction of the New International Airport at Mamamah in the Port Loko District
which is a positive step in the private sector investment
The Rokel Commercial Bank has been listed in the
stock exchange; and the government’s 51% share in
the bank has been sold. The Sierra Leone Commercial
Bank with 100% share owned by the Government is
also about to be listed. The National Insurance Company (NIC) which 100% owned by the Government is
also listed in the stock exchange.
OBJECTIVE 3: Promoting sound public finance management
3.3.9. Expanded scope of Audit introduced
and implemented- Government has also made
significant efforts in expanding the scope and breadth
of public sector audits. In 2015, 90% of Government
expenditure was audited. The Audits of all 19 Local
Councils and Class A Mining Chiefdoms were also
completed. Steps were also taken to expand on the
scope and breadth of performance contracts to improve effectiveness and efficiency in the public sector.
Objective 4: Fighting Corruption and Money
Laundry
3.3.10. The Pay No Bribe Campaign and the publication and dissemination of Service charters for MDAs
and service providers have made inroads in the fight
against corruption.
In order to create a culture of addressing corruption through the promotion of ethics and integrity in the
public sector, the ACC collaborated with the Human
Resource Management Office (HRMO) and the Public
Sector Reform Unit (PSRU) to develop a Code of Conduct, Rules and Regulation for the Civil Service. The implementation of this code is already showing positive
outcomes. Cognizant of the importance of ethics and
integrity in the fight against corruption, the ACC Act
APRM Sierra Leone | Annual Progress Report
2008, Section 5(2) (k) empowers the Commission “to
draft model codes of conduct and advise public bodies
as to the adoption of such codes of conduct as may be
suited to such bodies”.
Passing of an Anti-Money Laundering and Combating Financing of Terrorism Act 2012 that criminalize
money laundry and financing of terrorism. This Act
mandates the setting up of a financial intelligence unit
whose function among others include requesting and
obtaining any information that is considers relevant to
an unlawful activity, money laundry activities of financing and terrorism and is publicly available, including
commercially available data bases, or information that
is collected or maintained or stored in data bases,
maintained by government ministries, department and
agencies.
The banking supervision department of the bank of
Sierra Leone has also set up an AML selection that is
headed by a manager. This section will serve as link
between the bank and financial intelligence unit for
collaboration and information shearing.
OBJECTIVE 5: Accelerating regional integration by
participating in the harmonization of monetary, trade
and investment policies.
3.3.11 Working to achieve the primary West African Monetary Zone Convergence Criteria as well as
implement other regional initiatives - Sierra Leone is
a member of the Economic Community of West African States (ECOWAS) established in 1975 and the
second Monetary Zone - the West African Monetary
Zone (WAMZ) established in 2000. With regards to
the WAMZ programme, Sierra Leone has been working hard to achieve the primary convergence criteria.
Sierra Leone also adopted the ECOWAS Common External Tariff (CET) in 2005 and has accordingly adjusted about 90 percent of the custom tariffs in line with
the ECOWAS CET.
OBJECTIVE 6 Mainstreaming Gender into the development agenda of Sierra Leone and to reduce poverty
3.3.12 Enactment of laws and implementation of related programmes- Government established a Ministry
of Gender, Children and Social Welfare and enacted
several laws to enhance women’s participation in development including the three gender laws of 2007.
37