Guide to Doing business in Sierra Leone

Sierra Leone, which has just begun to recover from a long civil war, has one of the world’s lowest telephone density rates – one landline for every 250 people, according to the World Telecommunication Union. Add to that poor-quality telephony service and an unusually low number of internet users (estimated at 8000 in a 2002 survey) and the picture that emerges is that of a country that is cut off from the global information society, ready to be propelled into the modern age.

Sierra Leone, which has just begun to recover from a long civil war, has one of the world’s lowest telephone density rates – one landline for every 250 people, according to the World Telecommunication Union. Add to that poor-quality telephony service and an unusually low                  number of internet users (estimated at 8000 in a 2002 survey) and the picture that emerges is that of a country that is cut off from the global information society, ready to be propelled into the modern age.

Action Steps
The best contacts and resources to help you get it done

Do your homework to understand the market

Before starting out, make sure you do your homework well by understanding the basics of Sierra Leone and its local business regulations. For a general overview on Sierra Leone, visit the official website of the Government of Sierra Leone or Information Please website.

I recommend: For a general background on Sierra Leone, visit the official website of the Sierra Leone Tourist Board or Information Please. You can find more information about Sierra Leone and its business legalities by contacting your local Sierra Leone consulate/embassy. The U.S. commercial service provides a comprehensive guide to doing business in Sierra Leone. To check the stock indexes in, visit the Central Bank of Sierra Leone. It provides detailed financial information on publicly traded Ghanaian companies. Daily news from Sierra Leone is available at Sierra Leone news

Identify, screen and pre-qualify high-potential business opportunities

Find potential business opportunities of interest.

I recommend: One can find potential investment areas by visiting the Sierra Leone’s Chamber of Commerce.  Do not respond to business opportunities that are solicited by email. A lot of advanced fee fraud schemes, commonly known as 419, originate from countries in the West African region. If a business opportunity sounds too good to be true, then it might not be true. When contacted about a business opportunity in Sierra Leone, more sure it's legitimate by contacting the Sierra Leone Embassy in your country, Sierra Leone’s Chamber of Commerce, Industry and Agriculture and the Sierra Leone Export Development and Investment Corporation .

Understand the economy and basic business ethics

Try to gather as much information about Sierra Leone's economy and business ethics as you can.

I recommend: You can also choose to talk to another foreign investor in Sierra leone. Small, privately held Israeli Telecoms Company Sierra-Com Ltd was quick to recognise the potential in Sierra Leone’s untapped market for information and communication technology (ICT), Sierra-Com invested $3m in local subsidiary PCS Holdings Sierra Leone Ltd (IPTEL), in partnership with Sierra Leone-based Firstcom, to establish a world-class network with technologically advanced telecoms equipment imported from Israel. Today, the company’s main customers are local businesses and multinational firms, but the high-quality internet service is also attracting big businesses such as financial institutions, which require high-speed service to transmit vast amounts of data. You can read more about IPTEL here.

Take away travel jitters and get first-hand information about traveling to Sierra Leone.

It is relatively easy to obtain a business visa to Sierra Leone.

I recommend: All you need is an invitation letter from your business partners, a valid passport at least 6 months from expiring, and proof of a return ticket. Make sure to apply for a business C type visa. Visa fees range between $40.00 and $420.00. It could take up to 5 days to obtain your visa. Visa fees can be paid by cash, cashier's check or money orders. Check with your consulate for other visa requirements.  The official source of Doing Business in Sierra Leone is Business.com