Govt. to support SMEs with Le100bn in two years

As a result of rural neglect, since the 1980s, the country has experienced increased migration to urban towns, particularly Freetown and the provincial capitals and an increase in the number of early school leavers. These migrants and the early school leavers are engaged in informal activities on small and medium-scale. The government has promised in their 2020 Budget that they will support Small and Medium Scale Enterprises (SMEs) with Le100 billion between 2020 and 2022. This amount will be provided for microenterprises development targeting 20,000 people of which seventy percent are women and thirty percent are youth.  In 2020, Le 21 billion has been allocated to setup and pilot the scheme. This amount the Ministry of Finance says will be progressively increased in ensuing years. In addition, an amount of US$ 20.3 million has been allocated under the planned World Bank funded Sierra Leone Economic Diversification Project to facilitate SME growth and stimulate entrepreneurship in high-growth productive sectors by addressing critical firm level and sector level constraints. The project also includes the establishment of two SME business solution centres to improve access to services such as registration, licensing and permits, and business advice and technical assistance for SMEs and startups. This project the Ministry says will support the regularisation of SMEs that are still in the informal sector while the Government continues to simplify the process of doing business.

Should government go ahead and repeal the criminal libel laws?"

View Results

Loading ... Loading ...

Login or Subscribe to read the entire article