ARISE Integrated Industrial Platform has on 26 April, 2023, officially commenced operations at an unprecedented and inspiring groundbreaking event for the development of the country’s second Special Industrial Economic Zone after the formation of the Wellington Industrial Estate in the early sixties.
The groundbreaking event for SIZ in Koya, Chiefdom, was done by President Dr Julius Maada Bio at Mile 38, Koya Chiefdom, Port Loko District, North West Region.
The joints venture between the Government of Sierra Leone and ARISE IIP will occupy one thousand six hundred (1,600) hectares of land that will be powered by an environmental friendly 100 megawatts solar power, firmly reassured by the management of ARISE IIP.
Due to the huge volume of investments in the chiefdom, it goes without saying that the above mentioned chiefdom can be strategically referred to as the neck of the country’s economy. The Koya industrial zone will be adding value to locally produce raw materials into finish and semi-finish products that will reduce the country’s heavy dependent on imported products.
The joints venture, this medium was told will improve employability of the youths, thereby ushering answers to the long standing question that had and continues to surface over a period of time with regards job opportunity.
The said investment, sources revealed will provide nine thousand direct jobs and additional five thousand jobs elsewhere.
ARISE IIP further disclosed that they will reintroduce a passenger train in the country, as the said train is currently on the high seas with Sierra Leone as his destination.
The said train, this medium was told will be plying the provincial districts to and fro Freetown, thereby unlocking the country’s true potential.
In his Keynote address, President Bio expressed how delighted he was and thanked ARISE IIP for sharing his vision and partnership in making the said vision a reality.
He told the august gathering that his government has increased the country’s Gross Domestic Product from less than 2-5% in just five years.
“Sierra Leone’s natural resources will drive its comparative advantage” the President assured.
The president noted that it heart rendering to note that as a nation, we continues to import what we can produce and sells to regional and international markets.
Technology is available, only infrastructure and policies needed to make it possible, the President stated.
He continued that beneficiation causes employment, noting that the Koya industrial economic zone will enable raw materials availability that he said will increase investors’ confidence in the country’s economy.
The president said Sierra Leone’s policy environment and business climate is ready to entertain any investors.
President and Chief Executive Officer, Africa Finance Cooperation, Samalla Zubairu said the groundbreaking indicated that the country is starting a new journey with couple of initiative to commence production of goods locally in the economy.
He added that the country industrial zone will be focusing on things that add value, reiterating that the country is endowed with natural resources.
He assured of financing zone development in ensuring that the facilities meet the highest international standards, and therefore, attracts the highest caliber of private investors.
ARISE IIP Logistic Value Chain Director, Joseph Boll said the company first economic zone was in Gabon in 2010.
He continued, and today, that zone has generated 34 thousand direct jobs and is handling one million cubic meters of wood yearly.
“We would not have been able to accomplish this, without favourable social and economic conditions locally” Boll said.
With similar favourable conditions in Sierra Leone, there is peace, rule of law, respect of legal contracts, a stable economy and a free press.
He said two billion dollars has already been invested into the said zone.
He said the zone will transform agricultural products that he said has the potential to transform the lives of farmers.
He noted that the zone will comprise both import and export institutions like tile factory, pharmaceuticals, mangrove conservation project etc.
President, Africa Export and Import Bank (AFREXIMBANK), Prof. Benedict Oramah, disclosed that he first visited to Sierra Leone was in 1990 during the country’s civil war.
Today, he said was different, referring to the day as the birth of a new era and hope.
Prof. Oramah described the new era as an era of possibility for the region and the country as a whole just a day to the country’s 62 years of independent.
He encouraged all and sundry to put the past behind and looking towards a glorious future ahead.
He said since mid–1991, industrial zone serves as a key instrument of industrial policies, citing, in twenty-five years, that is , 1995-2022, they have created 40 of such zones in Africa.
He stated that Gabon is the second largest producers of timber, which he noted serves as the major revenue source of the government.
“Koya will become an economic hub in Sierra Leone with the right choice of partner” Prof. Benedict Oramah.
He said industrial zone is the new approach to industrialization in Africa, adding that heavy reliance on grants and aids weakens once economy.
Countries are developing through investments and not grants, he emphasized.
Deputy Minister of Lands, Rev. Joseph Ibrahim Sesay, described the groundbreaking event as unbelievable achievement of the President.
He referred to the moment as joyous and recalled his day as Deputy Minister of Trade and Industry, were he worn many hears and played many parts for such event to become a reality.
He associated the success of the event to reform made in ease of doing business in the country.
He told the gathering that the ministry of Lands provided 4,411 hectares of land and all technical support require for the said zone.
Minister of Trade and Industry, Dr. Edward Hinga Sandy, among other things, said as an agreement, the zone will consist of thirty industries, stating that, what they are doing today has the potential to change the country.
As Minister of Trade and Industry, 30 trade agreements ratified by parliament are all in full operations.
He said 40 Small and Medium Term Enterprises were capacitated in Agro processing operations.
He assured that the Koya Industrial Zone has what it takes to change the narrative of the country in many fronts.
