By Kemo Cham
The Sierra Leone Chamber for Agri-business Development (SLeCAD) has decried a horde of issues they say are hindering their growth.
SLeCAD is an alliance of businesses dedicated to the agricultural sector. Its members said at a press conference on Thursday that access to finance is their greatest challenge, and they blamed cut-neck level interest rates and other unfavorable conditions given by banking institutions. They called on the government to act immediately to save the industry.
“The agribusiness is defunct; nothing is happening. Businesses are fast dying in this country,” said Ahmed Nano, Executive Secretary of SLeCAD, flanked by his colleagues.
The SLeCAD members include the national farmers association, agro-products processors, petty traders, among others. Nano said high, short term interest rates charged by banks means very few of their members, like the many poor farmers, are able to access finances to move their trade.
The Chamber wants the government to intervene and ensure a single digit unit of interest rate charged, at maximum 10 percent per annum. They also want long term loans.
SLeCAD is also concerned about the government’s involvement in the provision of agricultural inputs, like distribution of fertilizers and tractors, which are often shrouded in politics.
Sierra Leone has a high potential for economic growth in its agricultural sector, but much of the government’s attention is on the mining sector, observed Nano, adding that with approximately 65 percent of the population actively involved in agriculture, the country could cut down on its rice imports which is between US$180m and US$250m annually, if all the support is provided for local farmers.
Nano is also unhappy about how the President’s Recovery Priorities, phase 2 of the post-Ebola recovery plan, is being handled. He said despite having the largest private sector players in the country as a group, they have not been consulted properly in the implementation of the program.
SLeCAD believes that if the government pays as much attention to agriculture as it does to mining, the country is sure to achieve its goal of food security. And among what they expect the government to do for this to happen is to tackle NGOs activities against foreign direct investment, vis-à-vis relations between foreign investors and community people. They also wants high charges levied by the Environmental Protection Agencies on agribusiness firms to be reviewed.
The organization is also unhappy with how the relevant government agencies are implementing duty-free concessions provided for in the Finance Act.
© Politico 04/08/16
