By Hassan Osman Kargbo
The National Social Security and Insurance Trust NASSIT has signed a Memorandum of Understanding MoU with China’s Liaoning Xinchi Industrial Development Company Ltd, marking a significant step toward revitalizing Sierra Leone’s tourism and infrastructure sectors. The agreement aims to redevelop and upgrade two of the country’s prominent hotels, Radisson Blu Mammy Yoko and Golden Tulip Kimbima, enhancing the nation’s appeal to international tourists and business travelers.
The MoU was announced following a courtesy visit by NASSIT Director General, Mr. Mohamed Fuaad Daboh, to the Minister of Employment, Labour and Social Security, Hon. Mohamed Rahman Swarray, at his office in New England, Freetown, on Friday, 5th December 2025.
Mr. Daboh explained that the partnership aligns with recommendations from PricewaterhouseCoopers PwC to strengthen NASSIT’s investment portfolio. “This meeting is a testament to our ongoing engagements with investors, both local and international,” he said. “Liaoning Xinchi Industrial Development Company has expressed strong interest in collaborating with NASSIT to invest in tourism and infrastructure, particularly in the Radisson Blu Mammy Yoko and Golden Tulip Kimbima Hotels.”
He added that the Chinese company had made multiple presentations to NASSIT detailing its investment plans and areas of collaboration. “The signing of this MoU marks the beginning of a promising partnership that will stimulate economic growth, create employment opportunities, and enhance Sierra Leone’s global competitiveness,” Mr. Daboh said.
Hon. Swarray welcomed the initiative, describing it as a “golden opportunity” for both NASSIT and the country. He emphasized the importance of implementing PwC’s recommendations to improve the Trust’s financial performance and attract viable investments. “President Brigadier (Retired) Julius Maada Bio is committed to transforming Sierra Leone into a middle-income country through initiatives like this, which create an enabling environment for growth,” he said.
Chairman of Liaoning Xinchi Industrial Development Company Ltd, Mr. Zhao Hai Feng, expressed appreciation for NASSIT’s willingness to collaborate. He outlined plans to work closely on the redevelopment, upgrading, or construction of facilities at the Radisson Blu Mammy Yoko and Golden Tulip Kimbima Hotels. “As investors, we are excited to be part of this project and confident in its success. We look forward to working with all stakeholders to achieve the objectives outlined in the MoU,” he said.
The MoU is expected to catalyze substantial investment in Sierra Leone’s tourism sector. Analysts predict that the project will create significant employment opportunities, improve hospitality infrastructure, and enhance the country’s attractiveness to both regional and international visitors.
By partnering with Liaoning Xinchi Industrial Development Company, NASSIT aims to leverage international expertise and investment capital to maximize the potential of the country’s tourism assets. The initiative is also seen as a strategic step toward diversifying the national economy and creating sustainable revenue streams that support NASSIT’s broader mandate.
The redevelopment of these flagship hotels aligns with Sierra Leone’s broader economic vision under President Bio’s leadership, which seeks to modernize infrastructure, attract foreign investment, and position the country as a competitive destination for tourism and business.
With the MoU now signed, stakeholders anticipate the commencement of detailed planning and implementation phases, signaling a new era of growth and opportunity for Sierra Leone’s hospitality and tourism industry.
