The Ministry of Planning and Economic Development (MoPED) on Thursday, 3 September 2026, convened a technical meeting of the Sierra Leone Integrated National Financing Framework (INFF) Committee to deliberate on strategies for advancing Micro, Small and Medium Enterprise (MSME) development, financial inclusion and productive participation.
The meeting, held at the MoPED Conference Room was chaired by Deputy Development Secretary 1 Mr. Usman Cherry Conteh, which brought together representatives from the National Investment Board (NIB), Bank of Sierra Leone (BSL), United Nations Development Programme (UNDP), National Revenue Authority (NRA), Small and Medium Enterprises Development Agency (SMEDA), Director of Development Assistance Coordination Office (DACO), Mrs. Abie Kamara, Director of Planning, Policy and Research, Dr. Sheka Bangura and relevant stakeholders.
The meeting featured a presentation by the Centre for Africa Financial Inclusion and Advancement (CAFIA), an Africa-focused platform promoting financial inclusion and enterprise development. CAFIA presented findings from a survey covering businesses across 33 commercial streets, including shop owners, kiosk operators and table-top businesses.
The survey revealed significant gaps in access to formal finance and business registration. While 66 per cent of shop owners had approached banks for loans, none of the table-top operators surveyed had done so. Overall, 87.5 per cent of businesses had some form of registration, with 77.4 per cent registered with municipal authorities and 30.9 per cent with the NRA.
Discussions focused on strengthening business formalisation, data sharing and access to finance. NRA representative Mohamed Alie Bah stressed the value of CAFIA’s survey data as third-party information to support tax-base expansion, while NIB Chief Investment Officer Leonard Moseray highlighted challenges faced by businesses registered locally but not nationally, including duplication of business names. He also noted ongoing efforts with the NRA to establish a data-sharing Memorandum of Understanding.
Dr Sheka Bangura called for stronger coordination through the existing Youth Employment and Private Sector Working Group, while BSL representative Arthur O.B. Anthony highlighted the importance of MSME financing under the National Strategy for Financial Inclusion and the potential for stronger institutional partnerships.
The meeting recommended that business formalisation be placed on the agenda of the next Youth Employment and Private Sector Working Group meeting. It also called for a broader stakeholder meeting to further examine the findings and practical solutions, alongside stronger engagement with regulatory institutions to improve data sharing and support the formalisation and legitimisation of MSMEs.
For further enquiries, contact The PR Team:
Senior Information Officer: +23278146825
Follow MoPED on Twitter (@moped2025), Facebook, or visit: moped.gov.sl