Global Business Management

1. SIERRA LEONE
Tamar Yahawahdah

2. Sierra Leone means “Mountain Lion”
Sierra Leone is located coast of the Atlantic Ocean in West Africa,
Sierra Leone Is half the size of Illinois and slightly
smaller than South Carolina
Guinea, in the north and east, and
Liberia, in the south, are its neighbors
Total land area:27,699 sq mi (71,740 sq km)
Geography and Location

3. Sierra Leone Motto :Unit Freedom Justice
Became an independent nation on April 27, 1961
Country Capital: Freetown
Largest city: Freetown - 1,300,000
1878: British ceded Freetown as a home for blacks discharged from the
British armed forces and also for runaway slaves who had found asylum
in London
Capital Freetown, Sierra Leone

4. Leonean Culture

5. Languages: The number of individual languages listed for
Sierra Leone is 25. All are living languages. Of these, 6 are
institutional, 14 are developing, 3 are vigorous, and 2 are in
trouble
English: Official language
Krio: Speakers mainly descendants of repatriated slaves from
Jamaica. Traditional religion
Mande: Traditional religion, Muslim, Christian.
Themne: Mainly spoken in Northern Providence-Traditional
religion, Muslim, Christian
Cultural Languages

6. Thembe (Left) Krio (Right) Mende (Below)
Sample language script/ vocabluary

7. Sierra Leone currency: Leone
The SLL to USD –Historical Quotes
Official exchange rate (LCU per US dollar; period average) in Sierra Leone
The Official exchange rate (LCU per US dollar; period average) in Sierra Leone was last
reported at 3978.09 in 2010, according to a World Bank report published in 2012. Official
exchange rate refers to the exchange rate determined by national authorities or to the
rate determined in the legally sanctioned exchange market. It is calculated as an annual
average based on monthly averages (local currency units relative to the U.S. dollar).This
page includes a historical data chart, news and forecasts for Official exchange rate (LCU
per US dollar; period average) in Sierra Leone.
$$The Leone$$

8. Country Exports

9. Diamonds
Gold
Coffee
Cocoa
Fish
Country Exports

10. Country Imports

11. Machinery and transport equipment (50 percent of total
imports),
Fuel (20 percent)
Foodstuffs.
Sierra Leone’s main import partners are:
Guinea, Ivory Coast, China and South Africa.
Country Imports

12. Exports are controlled and monitored by the Ministry of Trade
and Industry and the Sierra Leone Investment and Export
Promotion Agency (SLIEPA) Sierra Leone Business Forum
and the Sierra Leone Exporters Association
The National Export Strategy (NES) is a policy document for
the period 2010-2015 aimed at evaluating and discussing
potentialities and constraints to export. The main objectives of
the NES are to boost the attractiveness of Sierra Leone and
enhance its export performance, despite the fact that strategic
intentions consist of increasing productivity, enhancing value
addition, expanding export and improving human and
financial capacity of the interested party
How inventory is managed

13. Addressing the four priority sectors are selected: the
agricultural sector, the fisheries sector, the mining
sector, and the tourism sector
For each subsector a four-year strategy is
set, consisting of identified strategic objectives,
strategy, activities, responsible partners (either
public or private), and the cost over the four years.
How are exports marketed

14. Corporations to know about…

15. 2012-The Residual Special Court for Sierra Leone Agreement (Ratification) Act, 2011 [No. 1 of 2012]
Being an Act to ratify the agreement between the United Nations and the Government of Sierra Leone on the Establishment
of Residual Court for Sierra Leone signed on the 11th August, 2010 and for other related matters
2011- The Public Debt Management Act, 2011 [No. 2 of 2011]
Being an Act to provide for the management of the public debt of Sierra Leone and for other related matters
The Legal Practitioners (Code of Conduct) Rules, 2010
Statutory Instrument of The Legal Practitioners Act, 2000 (No. 15 of 2000)
2010- The Finance Act, 2010 [No. 2 of 2010]
Being an Act to provide for the imposition and alteration of taxation for the year 2010 and for other related matters.
2009- The Payment Systems Act, 2009 [No. 3 of 2009]
Being an Act to provide for the establishment, operation, designation and supervision of electronic and other payments,
clearing and settlement systems, the rights and obligations of transacting and intermediating parties and for other related
matters
The Companies Act, 2009 [No. 5 of 2009]
Being an Act to provide for the registration and registration of companies and for other related matters.
Repeals the Companies Act [Cap. 249].
Leonean Business Laws

16. The Mines and Minerals Act, 2009 [No. 12 of 2009]
Being an Act to consolidate and amend the law on mines and minerals; to promote local and
foreign investment in the mining sector by introducing new and improved provisions for
exploration, mine development and marketing of minerals and mineral secondary processing
for the benefit of the people of Sierra Leone; to ensure that management of the mineral sector
is transparent and accountable in accordance with international best practice; to promote
improved employment practices in the mining sector; to improve the welfare of communities
adversely affected by mining; to introduce measures to reduce the harmful effects of mining
activities on the environment and to provide for other related matters.
Repeals the Mines and Minerals Act, 1994. Repeals the Commission for the Management of
Strategic Resources, National Reconstruction and Development Act, 1999.
The Merchant Shipping (Amendment) Act, 2008 [No. 5 of 2008]
Being an Act to amend the Merchant Shipping Act, 2003 so as to provide for the licensing of
shipping agents and the regulation of their activities and for other related matters.
Amends the Merchant Shipping Act, 2003 [No. 3 of 2003]
The Anti-Corruption Act, 2008 *searchable [No. 12 of 2008]
Being an Act to provide for the establishment of an independent Anti- Corruption Commission
for the prevention, investigation, prosecution and punishment of corruption and corrupt
practices and to provide for other related matters.
Business Law cont.

17. The Sierra Leone Investment and Export Promotion Agency Act, 2007 [No. 3 of 2007] *searchable
Being an Act to establish the Sierra Leone Investment and Export Promotion Agency to promote
investments and exports and for other unrelated matters.
The Diamond Cutting and Polishing Act, 2007 *searchable [No. 2 of 2007]
Being an Act to provide for the control of diamond cutting and polishing, the licensing of diamond
cutters and polishers, to define the rights and duties of a licensee and for other matters connected
therewith.
General Law (Business Start-up) (Amendment) Act, 2007 *searchable [No. 16 of 2007]
Being an Act to amend certain enactments in order to eliminate barriers to the expeditious
establishment, growth and development of business in Sierra Leone.
Amends the Exchange Control Act (Cap. 265). Amends the Legal Practitioners Act, 2000 (No. 15 of
2000). Amends the Non-Citizens (Registration, Immigration and Expulsion) Act, 1965 (No. 15 of 1965).
The Registration of Business Act, 2007 *searchable [No. 18 of 2007]
Being an Act to consolidate the law on the registration of businesses and business names and to
provide for other related matters.
Repeals the Business Names Registration Act (Cap. 257). Repeals the Business Registration Act, 1983
(No. 13 of 1983).
The Goods and Services Tax Act, 2009 [No. 6 of 2009]
Being an Act to provide for the imposition of a broadbased tax on the consumption of goods and
services in Sierra Leone and to provide for other related matters.
Repeals the Entertainment Tax Act, 1971; the Restaurant Food Act, 1989; the External
Telecommunications Act, 1995; the Sales Tax Act, 1995. Amends the Development of Tourism Act,
1990
Business Laws cont.

18. Independence/ National Holiday :
April 27,1961
Mixed legal system of English common law and
customary law
All People's Congress or APC [Ernest Bai
KOROMA]; Peace and Liberation Party or PLP
[Darlington MORRISON]; People's Movement for
Democratic Change or PMDC [Charles MARGAI];
Sierra Leone People's Party or SLPP [Julius
Maada BIO]
Government Profile 2013

19. Government Type: Constitutional Democracy
Executive branch
chief of state: President Ernest Bai KOROMA (since 17 September 2007); note - the
president is both the chief of state and head of government
head of government: President Ernest Bai KOROMA (since 17 September 2007)
cabinet: Ministers of State appointed by the president with the approval of the House of
Representatives; the cabinet is responsible to the president
elections: president elected by popular vote for a five-year term (eligible for a second
term); election last held on 17 November 2012 (next to be held in 2017)
election results: Ernest Bai KOROMA elected to a second term; percent of vote -
Ernest Bai KOROMA 58.7%, Julius Maada BIO 37.4%
Legislative branch
unicameral Parliament (124 seats; 112 members elected by popular vote, 12 filled by
paramount chiefs elected in separate elections; members to serve five-year terms)
elections: last held on 17 November 2012 (next to be held in 2017)
election results: percent of vote by party - NA; seats by party - APC 69, SLPP 43
Judicial branch
Supreme Court; Appeals Court; High Court
Political Party

20. Leaders…