By Sulaiman Jalloh
The Sierra Leone Parliament on Thursday, July 11th, 2024, unanimously debated and ratified a USD$1.5 million concession agreement between the Government of Sierra Leone and Gento Group of Companies (SL) Limited for the design, financing, construction and operationalization of a Seaport the within Dublin and Ricket communities of Banana Island and logistics (Harbour Terminal) at Kent in Freetown, dated 5th July 2024.
Hon. Bashiru Silikie, deputy leader of government business, in his debate, said that the agreement is not controversial.
“We want to see more of these agreements, so that we can see more millionaires” he said, saying that they are looking for agreements that will diversify the blue economy. He said he was pleased with Gento’s agreement for supporting the government’s agenda.
During the debate, Deputy Speaker of the House, Hon. Ibrahim Tawa cautioned the Bank Governor to support ‘the big agreement’, while suggesting an approach to the Afrim Bank. “It’s time to manage the balance of trade, central bank to grant waivers to commercial banks. Gento is an epitome of business; you have the support of this House, you have shown that Sierra Leoneans can do it,” he stated. He noted that many taxes will be paid and the agreement makes room for expertise transfer, job creation, adding ‘banks must provide an affordable interest rate’.
Hon. Aaron Aruna Koroma, deputy leader 2 of the opposition hailed Gento’s Agreement for the advantage it offers to retain one hundred percent of proceeds, saying the agreement will boost foreign exchange.
Mr. Fanday Turay, Minister of Transport and Aviation, presented government motion for the ratification of the Seaport and Harbour Terminal project.
With the creation of thousands of jobs during the construction and operationalization phrases, the project is expected to have a significant positive impact on the country’s GDP and employment ratio. Due to the direct landing of ships that normally transit from neighbouring countries before coming to Sierra Leone, the Seaport Project would play a pivotal role in the reduction of the price of commodities and thereby improve cost of living for its citizenry.
The project would also play a greater role in the diversification and decentralization of major facilities being concentrated in the capital city. It will help to decongest the country’s capital, Freetown, as the project would transform the Banana Island community to a centre of attraction.
Copyright –Published in print in Expo Times Newspaper on Friday, July 12th, 2024 (ExpoTimes News – Expo Media Group (expomediasl.com)
