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Capital Africa
Invest in Sierra Leone

Rich Ground, and a Pipeline of Priced Projects.

Sierra Leone exported US$1.12 billion of minerals in 2024 and has named 17 critical minerals it wants processed at home. Its National Investment Board now publishes priced projects in power, water, roads, farming, fisheries, digital and tourism, most of them looking for equity, lenders or an operator.

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US$1.12bn

Mineral exports, 2024

Ministry of Mines and National Minerals Agency

17

Minerals designated critical

Ministry of Mines and National Minerals Agency

5.4m ha

Arable land

National Investment Board

590 km

National Ring Road programme

Sierra Leone Roads Authority

Sierra Leone at a glance

A Mining Exporter, Building the Rest.

Iron ore, rutile and diamonds pay most of the bills. The government’s plan, through the National Investment Board, is to bring private capital into the power, water, roads and food the rest of the economy needs.

8.8m+
Population National Investment Board
US$970m
Exports by the four largest mines, 2024 Ministry of Mines and National Minerals Agency
16,000+
Jobs at those four mines Ministry of Mines and National Minerals Agency
3 to 10 yrs
Tax holidays for priority sectors National Investment Board
1 day
To register a company National Investment Board
120,935
International arrivals, 2024 Ministry of Tourism

  • Iron ore and rutile at scale

    Two iron ore producers and one of the world’s largest natural rutile operations, at a production grade of 95.6%, led 2024 exports. Both iron ore producers plan to expand.

  • A critical minerals plan

    A 2026 to 2031 strategy names 17 critical minerals, expects lithium production from 2027 and wants three to five processing plants by 2031.

  • Rivers and sun for power

    Hydro sites on the Seli, Sewa and Rokel rivers, solar sites in the north and east, and a regional line linking Côte d’Ivoire, Liberia and Guinea since 2020.

  • Land and food demand

    5.4 million hectares of arable land, and a staple, rice, still partly imported. Palm oil is the second-largest farm export.

  • One board for investors

    The National Investment Board, set up by Act in 2022 and chaired by the President, now holds investment promotion, PPPs and company registration in one place.

  • Market access

    Duty and quota free entry to the EU under Everything But Arms, ECOWAS membership and the African Continental Free Trade Area.

Investment opportunities

Projects Looking for Partners.

Published by the National Investment Board, the ministries and the utilities in 2025 and 2026, each with a promoter and, in most cases, a price. Stages range from concept to financial close, and every brief says the figures still need checking; we do that with you.

  • Open to investors A project its promoter presents as seeking investors or partners.
  • Programme A national programme with packages still to define and finance.

51 opportunities

  • Aerial view of a forested river valley in the Sula Mountains with the Pepel to Tonkolili iron ore railway along it, northern Sierra Leone.
    MiningOpen to investors

    Kasafoni iron ore, Tonkolili North

    Sula Mountains, about 10 km east of Bumbuna, Tonkolili District

    A phased direct-shipping hematite project 7 to 8 km from the existing Tonkolili railhead, with a much larger magnetite system behind it.

    Investment
    US$137.6m to US$186.7m to build; US$9m to US$14m to prepare
    Stage
    Historical resource; pre-feasibility; title and rail access not yet secured
  • A flooded artisanal mining pit in red laterite ground in Sierra Leone.
    MiningOpen to investors

    National gold traceability platform

    Nationwide

    A digital service recording gold from a verified origin through dealer transfers to export, owned by the National Minerals Agency and run by a private operator.

    Investment
    US$1.95m peak funding
    Stage
    Business case; a six-month bankability study is proposed
  • Aerial view of a mineral processing plant set in red earth and forest in Sierra Leone.
    MiningProgramme

    Critical minerals processing

    A planned critical minerals economic zone and port-side industrial sites

    The national strategy calls for lithium hydroxide and carbonate, rare earth separation, mineral sands separation and alumina refining in the country, with three to five plants by 2031.

    Investment
    US$2.5bn investment target for exploration and mining by 2031
    Stage
    National strategy, 2026 to 2031
  • Aerial view of conveyors, ore stockpiles and a haul truck at a Sierra Leone mine.
    IndustryOpen to investors

    North West and South West resource corridor zones

    North West: Port Pepel and the iron ore belt. South West: rutile, bauxite and Yawri Bay

    Two potential special economic zones linking mines to processing, bulk logistics and shared power and water.

    Investment
    To be set after feasibility
    Stage
    Concept; market interest invited
  • IndustryOpen to investors

    Smartphone assembly near Freetown

    Leased premises near Freetown

    Assembly and testing of imported kits into entry-level 4G phones, sold through a mobile operator with customer financing.

    Investment
    US$3.25m initial; US$6.0m peak funding
    Stage
    Proposal for partner engagement and feasibility
  • Aerial view of the Seli river below Bumbuna, Tonkolili District.
    EnergyOpen to investors

    Bumbuna I: privatisation and 60 MW expansion

    Bumbuna, Tonkolili District, on the Seli river

    Purchase of the existing 50 MW run-of-river plant together with a 60 MW expansion the station was designed to take from the start.

    Investment
    US$60m to US$67m for the expansion
    Stage
    Feasibility study completed in 2023

Mineral wealth

Producing Minerals, and the Next Ones.

Iron ore, rutile, diamonds and bauxite are mined at industrial scale today. The critical minerals strategy adds a second list of deposits it wants explored and processed in the country.

  • A pile of iron ore concentrate from Lunsar, Marampa.

    Iron ore

    Producing

    Tonkolili (Farangbaya) and Marampa, Port Loko District

    The two producers exported 10.8 Mt worth US$784m in 2024 and plan to expand to 35 Mt a year. Reported resources: 12.8 bn t at Tonkolili and 1.7 bn t at 31% Fe at Marampa.

    Ministry of Mines and National Minerals Agency
  • A pile of rutile concentrate from Gbangbama.

    Rutile, ilmenite and zircon

    Producing

    Sembehun and Gbangbama, Moyamba and Bonthe Districts

    Rutile exports of 131,000 t worth US$106m in 2024 at a 95.6% production grade; ilmenite and zircon are recovered as by-products.

    Ministry of Mines and National Minerals Agency
  • A hand specimen of kimberlite from Meya, Kono District.

    Diamonds

    Producing

    Kono District: Koidu, Meya and Tonguma kimberlites

    Koidu produced 484,000 carats in 2024. Reported resources are 6.5m (Koidu), 6.6m (Meya) and 7.3m carats (Tonguma).

    Ministry of Mines and National Minerals Agency
  • A pile of bauxite from Gondama, Moyamba District.

    Bauxite

    Producing

    Moyamba (Mokanji belt), Port Loko and Kambia

    Mined at 1 to 2 Mt a year. Reported deposits include Kambia (166 Mt at 44% alumina) and Port Loko (77 Mt at 46%).

    National Minerals Agency

  • Gold

    Resource

    Baomahun and Komahun, with artisanal mining widespread

    Reported resources of 5.8 Moz (Baomahun) and 3.4 Moz (Komahun). Two large developments target commercial production from 2027.

    Ministry of Mines and National Minerals Agency
  • A pile of spodumene lithium ore from Kalangba, Bombali District.

    Lithium

    Resource

    Kalangba, Bombali District, with further indications in the Kambui and Kangari Hills

    A reported 25 Mt at 1% Li in spodumene pegmatites. First commercial production is expected in 2027.

    National Minerals Agency
  • A pile of chromite ore from Hanga, Kenema District.

    Chromite

    Resource

    Kambui Hills and Hanga, Kenema District

    Mined from 1937 to 1962; grades of 38 to 44% Cr₂O₃. Resumption is a strategy priority.

    National Minerals Agency
  • Close view of grey crystalline mineral fragments.

    Platinum group metals and rare earths

    Resource

    Rivers draining the Freetown peninsula; rare earths not yet located

    About 5,255 oz of platinum was recovered by hand from 1929 to 1949. Both are in the strategy’s top tier.

    Ministry of Mines and National Minerals Agency
  • A pile of columbite-tantalite ore from Kono.

    Coltan, tin and base metals

    Resource

    Kono (coltan), Kamakwei in Karene District (tin), and the Kambui, Kangari and Sula greenstone belts

    Coltan and tin are mined by hand today. Nickel, copper, manganese and graphite are at exploration stage. Resources are still to be defined.

    Ministry of Mines and National Minerals Agency

Resource figures come from the National Minerals Agency’s briefs and maps and mostly carry no reporting code (JORC or NI 43-101). Mineral titles are issued through the National Minerals Agency, and the 2023 mining law requires environmental assessment, community development agreements and local content.

Looking at a licence, a deposit or a processing plant? We check the licence, the ground and the people before you commit.

Discuss a Mining Investment
Sectors

Eight Sectors, One at a Time.

Each panel gives the case, two figures and what an investor looks at first.

Mining and processing

Four large operators exported US$970m in 2024, led by iron ore and rutile. The national strategy now wants lithium, rare earths and mineral sands processed in the country, and favours joint ventures to do it.

US$1.12bn
mineral exports, 2024 Ministry of Mines and National Minerals Agency
45,000+
jobs targeted by 2031 Ministry of Mines and National Minerals Agency
  • Kasafoni iron ore and a gold traceability service are open briefs.
  • Processing plants and a critical minerals economic zone are planned.
  • Public resource figures often lack a reporting code; we check before you rely on them.
Discuss an Investment Sierra Leone mining guide
Infrastructure and logistics

Ports, Rail and Power You Can Use Today.

What exists now decides where a project can ship, draw power and move people from the first day.

  • Port of Freetown

    The Queen Elizabeth II Quay runs 1,067 m, with about 10 m of water at high tide. Pepel ships iron ore and Nitti ships rutile and bauxite.

  • The iron ore railway

    About 200 km from Tonkolili to Pepel. Its 2023 lease requires the operator to offer part of its capacity to other mining and farm shippers.

  • Lungi International Airport

    Direct flights to Europe, the Middle East and Africa, across the estuary from Freetown; a bridge is proposed.

  • Roads

    About 11,000 km of public roads, and a 590 km ring road programme being prepared with the African Development Bank.

  • Power

    The 50 MW Bumbuna hydro plant and a 225 kV regional line shared with Côte d’Ivoire, Liberia and Guinea.

  • Connectivity

    One international submarine cable today, with a second landing at Sussex in preparation.

Incentives and rules

What the Law Offers Investors.

Incentives are granted under the Finance Acts and sector laws, with the National Investment Board as the entry point. These are the main ones the Board and the sector guides describe.

  • Tax holidays

    Three to ten years for priority sectors and investments in special economic zones.

  • Duty and GST relief

    Import duty exemptions on qualifying machinery and raw materials, and GST exemptions on inputs for agriculture, energy, education and health.

  • Allowances and deductions

    Capital allowances, loss carry-forward and deductions of up to 125% for research and training.

  • Clean energy

    Duty-free entry for large-scale solar and other clean energy equipment.

  • Hotels

    Under the tourism law, new and renovated hotels have qualified for corporate tax exemption, a 25% first-year capital allowance and five years of loss carry-forward.

  • Mining obligations

    Mining licences carry environmental assessment, community development agreements, local content and rehabilitation bonds. Local content is set to rise to 40 to 50% by 2031.

Incentives depend on the sector, the size of the investment and the agreement reached; confirm current terms with the investment agency and local counsel before relying on them.

Getting started

Registering a Business, Step by Step.

The route set out in the Board’s April 2026 starter guide. A Companies and Business Registration Bill published in 2026 would add 24-hour incorporation and a single online registry; it is a bill, not yet law.

  1. Choose the business form

    Sole trader, partnership or company. Most foreign investors use a limited company.

  2. Reserve the name

    At the National Investment Board, free and on the spot.

  3. Register with the Board

    About one working day. The government fee for a limited company is NLe 250.

  4. Get a council licence

    From the local council where you operate; the fee depends on the size of the business.

  5. Register for tax

    With the National Revenue Authority, free of charge.

  6. Register staff for social security

    With NASSIT, free. Contributions are 10% from the employer and 5% from the employee.

  7. Open a business bank account

    With the certificate of incorporation and registration documents.

Who does what

  • National Investment BoardOne-stop shop since 2022: promotion, PPPs and company registration.
  • National Revenue AuthorityTax registration and incentives administration.
  • National Minerals AgencyMineral titles, geological data and the traceability platform.
  • Ministry of EnergyPower projects, with EGTC for generation and EDSA for supply.
  • Guma Valley and SALWACOWater utilities for Freetown and the provinces.
  • Roads and Ports AuthoritiesThe Ring Road and the ports.
  • NASSITSocial security for employees.

Planning your entry

Find a direction that fits your experience.

The World Bank identifies agriculture, renewable energy and financial services as areas for private-sector development. The right business for you still depends on local demand, operating requirements and your ability to deliver.

  • Farming and food businesses Explore commercial rice or cassava production, processing, aquaculture, machinery services and distribution. We help organise research into sites, inputs, handling, buyers and appropriate technical advice.
  • Mining and industrial services Consider mineral-project assessment, equipment rental, workshops, processing or technical services. We help investigate operators and counterparties and arrange independent specialist involvement.
  • Construction and essential services Bring plans for housing, roads, schools, hospitals or a local manufacturing operation. We help research locations and potential partners, and coordinate the professional enquiries specific to the proposal.
  • Tourism, transport and company expansion Explore a hotel, vehicle business, freight service, ferry proposal or local branch. Start with customer demand, routes or premises, operating partners and the authorisations the model requires.
Make your first visit count.

Useful market entry combines commercial research with an understanding of how the business would operate day to day.

  • Meet potential customers A proposal becomes more useful when you know who would buy, what they need and how they make purchasing decisions. We help organise research and relevant business meetings.
  • Understand the site and local partner Visit the proposed farm, workshop, property or operating business. Qualified advisers can examine land rights, contracts, registrations and the permissions relevant to your plan.
  • Build an operating picture Investigate staffing, power, water, transport, maintenance and working capital. We help gather information your technical and commercial team can use in its assessment.
Start where you are today.

We support early exploration as well as companies ready to arrange a working visit.

  • Investors and entrepreneurs Tell us the business you want to build, your experience and the decisions you need help making. A focused research brief can establish what to explore first.
  • Diaspora founders and expanding businesses Bring your existing company, equipment or professional expertise. We help coordinate customer meetings, local introductions and the practical enquiries needed to establish a presence.
  • Local owners seeking partners Introduce your operating business or project, its location and the support sought. We can discuss readiness, evidence and suitable partner introductions after an initial review.
Infrastructure that supports the business you want to build.

Start with the users, location and delivery model. A public need is a reason to research a proposal, not proof of a funded contract.

  • Roads, construction and industrial sites For a road contractor, quarry, block factory or construction branch, investigate customers, material specifications, site access and equipment support. We coordinate introductions and local enquiries so your team can assess delivery requirements.
  • Ports, freight and passenger transport A warehouse, haulage operation or ferry concept needs route research, infrastructure access and a clear operating partner. Technical specialists should assess vessel or vehicle suitability, maintenance and safety; qualified advisers should confirm the applicable permissions.
  • Utilities and essential facilities A school, hospital, factory or housing development brings together land, construction, water, power and long-term operation. We help assemble a practical research and meeting brief, including business and government meeting coordination where relevant and subject to acceptance.

Detailed guides

Talk to Our Team About Sierra Leone.

Tell us the sector, the scale and the timing you have in mind. We will tell you what to check first, who to meet and what a first visit should achieve.

Discuss an InvestmentTalk to Our Team
Questions investors ask

Before You Commit, Ask These.

Are these projects actually open to foreign investors?

Yes. Each comes from a brief published by the National Investment Board, a ministry or a utility seeking equity, lenders, operators or a buyer. Stages differ widely, from concept to financial close, so the first step is to confirm the current status, title and terms.

How quickly can a company be registered?

Name reservation is immediate and registration takes about one working day at the National Investment Board, with a NLe 250 fee for a limited company. Tax, social security and council registration follow.

Which minerals does Sierra Leone want processed locally?

The 2026 to 2031 strategy names 17 critical minerals, with lithium, platinum group metals, chromite and rare earths in the top tier. It targets three to five processing plants by 2031 and prefers joint ventures to plain licensing.

Are the returns in the project briefs reliable?

They are the promoters’ own models, often marked indicative or unverified, which is why we leave them off this page. We review the model, the assumptions and the counterparties with you before anything is relied on.

Does Capital Africa own or sell these projects?

No. We advise and facilitate: we help you judge an opportunity, meet the right counterparts and run the checks. The projects belong to their promoters.

Can you help me open a branch in Sierra Leone?

Yes. We can coordinate market research, premises enquiries, customer meetings and introductions to qualified registration, tax and legal professionals. Setup requirements depend on the business activity and structure.

Can you assist with a school, hospital or construction business?

Yes. We help research locations and partners, arrange relevant meetings and coordinate site and professional enquiries. Specialist operating standards, approvals and feasibility work form part of the project-specific assessment.

Can you organise an airport-to-site business visit?

We can coordinate arrival transfers, hotels, drivers, interpreters and your meeting itinerary. Route and transfer arrangements are confirmed for your dates, destination and visit requirements.

Sources and scope

Where the figures come from

  1. National Investment BoardInvestor brochure: country facts, priority sectors and fiscal incentives, 2026
  2. National Investment BoardStarter Guide to registering a business, April 2026
  3. Ministry of Mines and Mineral Resources and National Minerals AgencyA National Strategy for Critical Minerals in Sierra Leone, 2026 to 2031, May 2026
  4. Ministry of Mines and Mineral Resources and National Minerals AgencyOperational highlights of the four large-scale mining companies, 2024, 2025
  5. National Minerals Agency, Directorate of Geological SurveysMineral and rock sample briefs, 2025
  6. National Investment Board, Ministry of Mines and National Minerals AgencyTonkolili North and Kasafoni iron ore investor brief, October 2026
  7. National Investment BoardDigital mineral traceability platform investment brief, October 2026
  8. National Investment BoardEnergy project briefs, with the Ministry of Energy and project sponsors, 2025 and 2026
  9. National Investment BoardWater and sanitation project briefs, with Guma Valley Water Company and SALWACO, 2025 and 2026
  10. National Investment BoardTransport, maritime, industrial zone and urban project briefs, 2025 and 2026
  11. Sierra Leone Roads Authority and National Investment BoardNational Ring Road Programme brief, 2026
  12. National Investment BoardDigital economy project briefs, with the Ministry of Communication, Technology and Innovation, October 2026
  13. National Investment BoardAgriculture and agro-industry project briefs, drawing on FAO Hand-in-Hand analysis, 2025 and 2026
  14. National Investment BoardBlue economy and fisheries project briefs, 2026
  15. Ministry of Tourism and Cultural Affairs and National Investment BoardTourism investment briefs, 2025 and 2026
  16. Sierra Leone Investment and Export Promotion AgencySector investment guides: agriculture, energy, fisheries and tourism (draft editions), 2021 to 2022

Reviewed . Figures, projects and stages are summarised from official publications, investment agency briefs and promoters’ project briefs as they state them; they are not Capital Africa projects or offers, and Capital Africa does not own, sell or guarantee any of them. Project briefs, contacts and current status are shared in a consultation.