Sierra Leone: Minister of Trade Lays to Parliament Socfin Agri Company Agreement For Ratification

Stephen V Lansana
3 min readDec 15, 2023


The Minister of Trade and Industry, Mr. Ibrahim Alpha Sesay has on Tuesday, November 7, 2023 presented to Parliament the an agreement between the Government of Sierra Leone and the Socfin Agricultural Company Agreement for ratification.

He stated that Socfin Agricultural Company is a liability company registered under Sierra Leonean law.

He explained that the company has successfully established an oil plantation spanning 12,342 hectares and has installed a 60-ton palm oil processing mill. “Additionally, they have invested $171 million USD as of the end of 2020. The investment has resulted in the employment of 1,524 permanent staff and 2,600 seasonal staff,” Minister Sesay said, noting that the company also outsource services to third-party contractors, providing employment to over 900 workers in plantation, security, and other areas.

Mr. Sesay mentioned that Socfin Agricultural Company aims to sell a significant quantity of palm oil production in the local market and export some abroad.

“This strategy will help capitalize on the company’s investment in the country and contribute to foreign exchange earnings, benefiting both their commercial activities and the country’s economic growth,” he added.

He pointed out that Socfin continues to market its palm oil production to two local companies, Kissy Industry Sierra Leone Limited and Jolaks Manufacturing Company Limited, adding that these companies rely on Socfin as a source of raw materials for their vegetable oil production, making Sierra Leone a net supplier of vegetable cooking oil in West Africa.

The Minister further stated that with the ratified agreement, the company plans to expand its current processing capacity from 30 to 60 tons of fresh fruit bunches per hour.

“This expansion will require an additional investment of $18 million USD between 2021 and 2023,” Minister said.

Before concluding the ratification process, Mr. Sesay expressed gratitude to the Members of Parliament for their comments and concerns. He assured them that the key elements of the agreement would be fully implemented.

He said that the Ministry of Trade and Industry, together with the Committee of Trade and Industry, will provide oversight to ensure the agreement’s successful execution.

The Minister emphasized the crucial role of Parliament in this agreement, as it aligns with President Julius Maada Bio’s Feed Salone program.

He highlighted that the agreement not only focuses on palm oil production and export but also aims to diversify production in the country, particularly in rice production.

Mr. Sesay appreciated the contributions of the Members of Parliament regarding local content, tax obligations, environmental and social safeguards, and employment conditions, assuring them that these aspects would be thoroughly considered.

The Minister promised to provide the House of Parliament with adequate information whenever they are ready. He mentioned that a few weeks ago, they visited Sahn Malen and co-chaired a meeting that facilitated a peaceful dialogue between the community and the company.

They agreed on a set of actions during this meeting.

By Nyakeh ibrahim



Stephen V Lansana

Stephen V. Lansana is a Sierra Leonean Journalist who work for Premier News, a subsidiary of Premier Media Group Ltd. Stephen writes on Health & Human Rights