African state Sierra Leone offers investment opportunities for Sri Lanka

As part of ongoing efforts to promote economic diplomacy in Africa, Sri Lankan ambassador Kana Ambassador Kananathan met with Sierra Leone President Julius Maada Bio in Freetown and discussed investment opportunities yesterday.

President Bio praised Ambassador Kananathan for his role as an election observer during the 2023 Presidential Elections and acknowledged his commitment to strengthening both diplomatic and economic relations between Sri Lanka and Sierra Leone. Their discussions focused on potential areas of cooperation, with both parties agreeing to intensify efforts to achieve mutual benefits for their respective countries.

President Bio expressed appreciation for the significant Sri Lankan investments in Sierra Leone, particularly the large-scale venture by Browns Investments Ltd of Sri Lanka part of the LOLC group. The establishment of Sunbird Bioenergy (SL) Ltd, manages a 23,500-hectare sugarcane farm and operates a factory with a production capacity of 22 million litres of portable Ethanol at present which is the main component of most alcoholic beverages. This venture stands as one of the largest sugarcane agricultural projects on the African continent, demonstrating the fruitful economic partnership between the two countries.

Sierra Leone offers lucrative investment opportunities in sectors such as mining, manufacturing, agriculture, maritime, aviation, fisheries and energy. President Bio extended an invitation to Sri Lankan investors to capitalize on these opportunities, promoting a win-win situation that will further strengthen economic ties.

Sierra Leone's recent election as a non-permanent member of the United Nations Security Council for the 2024-2025 term underscores the country's growing influence on the global stage.