By Cyllo Wise
Sierra Leone has experienced numerous political and economic challenges throughout its history. Since independence in 1961, the country has seen several regimes come and go, each leaving its mark on the socio-economic landscape. The current administration under President Julius Maada Bio, who came to power on 4 April 2018, with a promise of a new era of economic prosperity, transparency, accountability and good governance. However, nearly six years into his administration, the country is grappling with allegations of widespread financial mismanagement, raising concerns about the future of Sierra Leone.
When President Bio assumed office, he was met with widespread optimism. His campaign was built on the premise of combating public sector corruption, improving education, and revitalizing the national economy. His flagship programme, the Free Quality Education (FQE), was touted as a significant step towards human capital development. Additionally, the government promised to manage public finances prudently, reduce public debt, and attract direct foreign investment to stimulate economic growth.
However, despite these lofty promises, the reality on the ground tells a different story. The administration’s financial management has come under intense scrutiny, with accusations of corruption, embezzlement, and misallocation of funds becoming increasingly rampant.
Public financial management is a critical aspect of governance. It involves the efficient and effective management of public resources to achieve government objectives. Under President Bio’s administration, there have been significant concerns regarding the lack of transparency and accountability in the management of public funds.
The Auditor-General’s Reports have consistently highlighted financial irregularities within various government Ministries, Departments, and Agencies (MDAs). These reports have pointed out instances of unaccounted-for expenditures, missing vouchers, and inflated contract prices. The failure to address these issues has raised questions about the government’s commitment to financial accountability.
For example, the 2019 Auditor-General’s Report revealed that over Le140 billion (approximately USD 14 million) was unaccounted for in various government ministries. This included funds meant for essential services such as healthcare and education. The report also highlighted the lack of proper financial controls and the rampant abuse of public resources by government officials.
The Anti-Corruption Commission (ACC) was established to combat corruption and promote transparency in public administration. Under President Bio, the ACC has been active in investigating and prosecuting cases of corruption. However, critics argue that the commission’s efforts have been selective and politically motivated.
While the ACC has pursued cases against lower-level officials, there has been a perceived reluctance to tackle corruption at the highest levels of government. This has led to accusations that the commission is being used as a tool to settle political scores rather than genuinely addressing the root causes of corruption.
Furthermore, the ACC’s focus on smaller cases has diverted attention from the more significant issues of financial mismanagement within the government. For instance, the misappropriation of funds in the Ministry of Basic and Senior Secondary Education (MBSSE) has not been thoroughly investigated, despite the Auditor General’s report highlighting significant financial discrepancies in the ministry.
One of the most pressing concerns under President Bio’s administration is the escalating national debt. Upon taking office, the government inherited a significant debt burden from the previous administration. However, rather than addressing the issue, the Bio administration has accumulated even more debt, raising concerns about the country’s long-term financial stability.
As of 2024, Sierra Leone’s public debt has surpassed USD 3 billion, with a significant portion of this debt owed to international creditors such as the International Monetary Fund (IMF) and the World Bank. The government’s reliance on external borrowing to finance its development projects has raised alarms about the sustainability of this approach.
The debt crisis has been exacerbated by the government’s inability to generate sufficient domestic revenue. The mining sector, which has historically been a significant source of revenue, has underperformed due to mismanagement and corruption. Additionally, the government’s failure to diversify the economy has left the country vulnerable to external shocks, further complicating efforts to manage the debt.
One of the most glaring examples of financial mismanagement under President Bio’s regime is the misallocation of resources. The government has been accused of prioritizing projects that do not necessarily align with the needs of the population, while essential services such as healthcare and education remain underfunded.
For instance, the construction of the Lungi Bridge, a flagship infrastructure project, has been widely criticized for its exorbitant cost and questionable feasibility. The project, estimated to cost over USD 2 billion, has raised concerns about its impact on the country’s already strained finances. Critics argue that the funds allocated for the bridge could have been better spent on improving the country’s healthcare and education systems.
Similarly, the government’s decision to invest heavily in the construction of a new parliament building, while schools and hospitals are in dire need of rehabilitation, has sparked outrage among citizens. The allocation of resources towards these grandiose projects reflects a disconnect between the government’s priorities and the immediate needs of the people.
The healthcare system in Sierra Leone has long been underfunded and plagued by inefficiencies. Despite the government’s rhetoric on improving healthcare services, there has been little to no significant improvement in the sector. Hospitals and clinics across the country continue to face shortages of essential medicines, medical supplies, and trained personnel. This has had devastating consequences, particularly in rural areas where access to healthcare is already limited.
The lack of investment in healthcare is particularly concerning given the country’s history with deadly diseases such as Ebola and, more recently, COVID-19. The government’s failure to adequately fund and manage the healthcare sector raises serious questions about its commitment to protecting the lives and well-being of its citizens.
Education has been one of President Bio’s key focus areas, with the Free Quality Education (FQE) initiative serving as the flagship program of his administration. However, despite the initial enthusiasm, the initiative has been plagued by numerous challenges, including inadequate funding, poor infrastructure, and insufficient training for teachers.
The mismanagement of funds within the Ministry of Basic and Senior Secondary Education (MBSSE) has further undermined the program’s effectiveness. The Auditor General’s report cited significant financial discrepancies within the ministry, including the misappropriation of funds meant for educational materials and teacher salaries. This has led to a decline in the quality of education, with students and teachers alike expressing frustration over the lack of resources and support.
Moreover, the focus on quantity over quality has resulted in an overcrowded and under-resourced education system. While the government touts the increased enrolment numbers, the reality is that many students are attending schools that lack basic facilities such as classrooms, textbooks, and toilets. This situation has led to a significant disparity in the quality of education between urban and rural areas, further exacerbating inequality in the country.
A major contributing factor to the financial mismanagement under President Bio’s administration is the pervasive culture of political patronage. The appointment of government officials based on loyalty rather than competence has led to a bloated and inefficient public sector. This has not only increased the burden on the national budget but has also created an environment where corruption can thrive.
Government contracts have often been awarded to companies with close ties to senior government officials, leading to inflated costs and substandard work. The lack of transparency in the procurement process has further fuelled allegations of corruption, with many projects being delayed or abandoned altogether.
The mismanagement of public funds has also extended to state-owned enterprises (SOEs), many of which are operating at a loss due to poor management and corruption. The government’s failure to reform these enterprises has resulted in a continuous drain on the national budget, with taxpayers bearing the brunt of these inefficiencies.
The financial mismanagement under President Bio’s regime has had far-reaching consequences for the Sierra Leonean economy. The country’s economic growth has stagnated, with high levels of unemployment, inflation, and poverty persisting. The government’s inability to manage public finances effectively has eroded investor confidence, leading to a decline in foreign direct investment (FDI).
The mining sector, which has historically been a significant driver of economic growth, has been particularly affected by mismanagement and corruption. The failure to attract and retain reputable investors has resulted in a decline in production, further exacerbating the country’s economic woes. Additionally, the government’s heavy reliance on external borrowing to finance development projects has placed a significant strain on the economy, with debt servicing costs consuming a large portion of the national budget.
The agricultural sector, which employs a significant portion of the population, has also suffered due to the government’s failure to invest in rural development. The lack of access to credit, infrastructure, and markets has hindered the growth of the sector, leaving many farmers trapped in a cycle of poverty.
As President Bio’s administration approaches the end of its second term, the issue of financial mismanagement remains a significant concern for the future of Sierra Leone. The government’s failure to manage public resources effectively has not only undermined its ability to deliver on its promises but has also had a detrimental impact on the country’s development prospects.
The people of Sierra Leone deserve better. It is imperative that the government takes immediate steps to address the issues of corruption, mismanagement, and inefficiency within the public sector. This includes strengthening the role of oversight institutions such as the Anti-Corruption Commission (ACC) and the Auditor General’s Office, ensuring that they have the independence and resources needed to carry out their mandates effectively.
Furthermore, there must be a renewed focus on prioritizing the needs of the population, particularly in critical areas such as healthcare, education, and infrastructure. The misallocation of resources towards vanity projects must be curtailed, and efforts should be made to ensure that public funds are used to improve the lives of ordinary Sierra Leoneans.
Finally, there is a need for greater transparency and accountability in the management of public finances. This includes the establishment of more robust financial controls, the implementation of performance-based budgeting, and the promotion of a culture of integrity within the public sector. Only by addressing these issues can Sierra Leone hope to overcome its current challenges and build a more prosperous and equitable future for all its citizens.
In conclusion, the financial mismanagement under President Bio’s regime has highlighted the urgent need for reform in Sierra Leone’s governance structures. As the country moves towards the next election cycle, it is crucial that these issues are addressed to ensure that the next administration is better equipped to manage the country’s resources and deliver on its promises to the people. The future of Sierra Leone depends on it.
