The Sierra Leone Government is caught in the middle of mining agreements, which over the years have not only benefited foreigners but have made Sierra Leoneans poorer than before.
The issue of Foreign Mining Companies’ dominance in Sierra Leone has become more of a curse to us as a nation than a blessing. Sierra Leoneans no longer enjoy the rights to their God-given resources which is being exploited by foreigners. The only way Sierra Leone will realise from her natural resources is when we have a situation where in Sierra Leoneans are in charge.
The issue of Koidu Holdings is a very serious one. We must not lose sight of the fact that companies of such nature are milking our resources whilst Sierra Leoneans are living in abject poverty.
Give chance to Sierra Leoneans to take over the mines and see where the money will go. In the case of Foreigners, they have no option than to send those monies to their countries abroad. But in the case of Sierra Leoneans, those monies will remain here and we will be in a better position to enjoy our wealth.
These are critical concerns about the impact of foreign mining companies on Sierra Leone’s economy and the wellbeing of its citizens. Over the years, foreign investment in mining has been framed as a potential pathway to economic development. However, the reality, as already highlighted, suggests that these agreements have not yielded the promised benefits for the local population. Instead, they have resulted in widespread poverty while enriching foreign entities.
When you look at the disparity between the wealth generated by mining and the poverty experienced by many Sierra Leoneans, it suggests that while foreign companies reap significant profits from the country’s natural resources, local communities see little to no improvement in their living standards. The assertion that Sierra Leoneans no longer enjoy rights to their resources reflects a broader narrative about national sovereignty. Some school of thoughts argues that it will be good for greater local control over mining operations, wherein Sierra Leoneans should lead initiatives to harness their resources for the benefit of the country.
Referencing the debacle at Koidu Holdings clearly explained the more reason why it will be better for Sierra Leoneans to take ownership of their mines. Therefore, we must also not lose sight of the reality on the ground as most of these foreign companies are just here to milk and exploit our resources. The likes of Tunde Cole, Mohamed Gento Kamara, Alimu Barrie, Babadi Kamara, to name but few are Sierra Leoneans who have been doing well and are progressing in their businesses. Popular businessman Sam King, and quite a good number of others became frustrated because priority was never given to them as Sierra Leoneans to take the forefront in managing potential businesses which would have created huge opportunity for us as a nation. If Sampha Koroma, owner of Union Trust Bank is able to withstand the business turbulence as a Sierra Leonean, that tells you we have them in good number who will be able to deliver.
What President Julius Maada Bio should do is to make sure the opportunity is given to Sierra Leoneans who will in charge dictate the pace of the country’s economy. By entrusting the mines into the hands of foreigners, we have sanctioned our death warrant; and that is why the economy is faced with serious challenge as a nation. That is why the time for scrutiny and possibly reforms in some of these mining agreements is needed now than before.
In the words of an opposition politician who spoke to this writer on condition of anonymity, he said, ‘‘Empowering Sierra Leoneans to take charge of the mining sector is the best thing for the country to progress.’’ He argues that if local people managed these resources, the financial returns would remain in the country rather than being siphoned off to foreign nations.
The overarching message calls for a comprehensive review of all mining agreements to ensure they are equitable and beneficial to Sierra Leone’s economy and populace. The suggestion is that a restructuring of these agreements could pave the way for more meaningful progress.
Some of the concerns expressed by members of the public reflect a broader critique of neo-colonial practices in resource extraction, where rich countries and corporations exploit the resources of poorer nations without sufficient compensation or investment back into local communities. Sierra Leone, as we speak is classed in this situation and there is no way we can succeed as a nation if we fail to do the right thing. Allowing these foreign companies to be in charge of our mines is a catastrophic catastrophe that is already affecting us as a nation.
Therefore, President Bio should take the same decision he took during the days of NPRC when the shares of National Petroleum were sold to Sierra Leoneans. President Bio’s legacy will speak after he would have exited office if he is able to protect the local dominance of our compatriots in the management of our natural resources.
