By Thaimu T Kamara

New Finance Minister Karefa Kargbo taking over from his predecessor Fantamadi Bangura

The Ministry of Finance on Thursday witnessed a change in leadership as Karefa A. F. Kargbo officially took over as Minister of Finance from Sheku Ahmed Fantamadi Bangura, bringing a new chapter to Sierra Leone’s ongoing fiscal reform efforts.

The formal handing-over ceremony, held at the Ministry’s Conference Hall on George Street in Freetown, followed President Julius Maada Bio’s appointment of Kargbo to the Finance portfolio.

The transition brought together senior officials of the Ministry, heads and representatives of government agencies, development partners and other stakeholders involved in the country’s economic and fiscal management.

Opening the ceremony, Principal Deputy Financial Secretary and Acting Financial Secretary, Samuel E. B. Momoh, described the leadership transition as an important moment in the history of the Ministry.

Momoh commended the outgoing minister for his service and leadership during what he described as a challenging period for the country’s economy. He credited Bangura with helping to advance fiscal reforms and navigate difficult economic circumstances.

He also stressed the principle of continuity in government, noting that leadership changes should not disrupt the implementation of national programmes and policies.

Welcoming Kargbo to the Ministry, Momoh highlighted his experience in public finance and expressed confidence that the new minister would build on the progress already made while strengthening the institution’s capacity to deliver on government’s economic priorities.

In his farewell remarks, Bangura reflected on his 4-year plus tenure as Minister of Finance, describing his service as both an honour and a responsibility.

He thanked President Bio for entrusting him with the portfolio and expressed appreciation to staff of the Ministry, ministries, departments and agencies, as well as development partners, for their cooperation during his tenure.

Bangura said the Ministry had worked collectively to respond to significant economic challenges and implement reforms designed to restore macroeconomic stability.

He pointed to progress made since 2023 and said the Ministry had documented the country’s economic position, reforms undertaken and institutional commitments to guide the incoming administration.

While acknowledging the difficulties encountered during his tenure, Bangura maintained that the gains recorded were the result of collective efforts rather than the work of one individual or institution.

He assured his successor of his continued support and encouraged the Ministry’s staff to maintain their commitment to public service.

Taking over the Finance portfolio, Kargbo expressed gratitude to President Bio for the confidence placed in him and acknowledged the work done by his predecessor.

The new minister said his immediate responsibility would be to sustain the gains achieved while strengthening fiscal performance and improving the implementation of government programmes.

Kargbo referenced the supplementary budget as part of the government’s continuing efforts to improve fiscal outcomes and ensure that public resources are aligned with national priorities.

He also pledged to operate an open-door policy, saying effective delivery of government targets would require close cooperation between the Ministry of Finance and other ministries, departments and agencies.

The minister called for collaboration and timely engagement among government institutions, particularly in implementing fiscal measures and reforms.

His remarks signalled an intention to maintain continuity in the Ministry’s reform agenda while placing renewed emphasis on fiscal performance, coordination and implementation.

Minister of Planning and Economic Development Kenyeh Barlay also praised Bangura for his contribution to the country’s economic management and welcomed Kargbo to his new position.

Barlay expressed optimism that cooperation between the Ministry of Finance and the Ministry of Planning and Economic Development would continue under the new leadership, particularly as both institutions work towards achieving government’s development objectives.

Senior Deputy Financial Secretary Mariatu Brown also welcomed the incoming minister and expressed support for his leadership.

Deputy Minister of Finance II, Isata Marah, delivered the closing courtesies, bringing the formal proceedings to an end.

The ceremony concluded with the presentation of a gift to Bangura in appreciation of his service to the Ministry and the country.

Heads and representatives of key institutions under the Ministry, including the Ministry of Planning and Economic Development (MoPED), National Revenue Authority (NRA), Financial Intelligence Agency (FIA) and Accountant-General’s Department (AGD), attended the ceremony

Their presence underscored the wider significance of the transition, as the Ministry of Finance remains central to Sierra Leone’s fiscal management, revenue mobilisation, public expenditure and broader economic governance.

As Kargbo assumes office, attention will now turn to how the new minister navigates the country’s fiscal challenges, sustains ongoing reforms and works with other government institutions to translate policy commitments into measurable economic outcomes.

Copyright –Published in Expo Times News on Monday, 7th September 2026 (ExpoTimes News – Expo Media Group (expomediasl.com)