By: Francis F. M. Harding
Industrialization plays a vital role in the economic development of any country. As the historical record shows, developed countries of the world broke the vicious cycle of poverty by through industrialization, rather than focusing on agricultural or the production of natural resources.
As a developing country, Sierra Leone can hardly hit its developmental goals without industrialization. The only economic scheme and mechanism that can upgrade the standards of living of the people. And pursuing policies that gear towards support privatization and deregulation of the national economy along with industries which plays a complex role in economic development can be seen as a step in the right direction addressing challenges of the economy.
It is a proven fact that a country with strong industrial and manufacturing sector, have shown more economic growth, with improved steady of income that promotes the living standards of the people. Industrialization has played an important role in various countries, by addressing the challenges of unemployment as follows: economic stability, increase in foreign exchange reserve, utilization of natural resources, support agricultural, defence and other sectors of economy, improvement of balance of payment and government revenue, and improvement in investment and spending.
Building material are so expensive in Sierra Leone and items such as iron rod, zinc, wheel-barrow and many others, are some of the biggest challenges in the country, where government and the citizens spend too much on importation of such goods into the country, due to lack of factories and manufacturing industries to produce the aforesaid materials. To tackle this challenges is why the Ministry of Trade and Industry last year 2021 signed an agreement with Ordaf Multi-Industry in Guinea. This company commences operations in Sierra Leone in 2023. To start the manufacturing of high standard building materials such as iron rod from scrap metals, wheel-barrow, nails, hammer and many others. Ordaf Multi-Industry Company has started installations of its manufacturing plants at Songo, where it will start operations soonest.
The Ministry of Trade and Industry and other stakeholders over the weekend took a study tour to neighbouring Guinea to acquire firsthand knowledge on how the company fears on with its operations in the sister country.
The Director General for Ordaf multi-industry, Mahesh Pandi said “Ordaf is a factory in Guinea that working to promote the growth of the company and individuals. He continues that the company will be manufacturing nails, wheel-barrow, and other construction materials in Sierra Leone. He said Sierra Leone will benefit from Ordaf directly and indirectly as people will get employment, the economy to have foreign exchange, and the country will be importing the materials from the country as they have five years plan for Sierra Leone. He said the Ordaf wants to be the leading industry in Sierra Leone. They will start operation in the first quarter in 2023.”
Niched Chandra the Chief Executive, Ordaf Multi Company Industry said the company will create employment for Sierra Leoneans and will be producing hydroelectric power station, iron rod, roofing sheets etc.
“When he first came into contact with the CEO of the Ordaf Multi Company for the establishment of the company in Sierra Leone he was over exited as the country is young country growing up and we don’t have factory that will create employment for our people, factory that will generate enough resources, to even help in addition to our GDP and also we have this pressure of foreign exchange as everything in Sierra Leone is export. He assured the Ordaf CEO that the President we have in Sierra Leone is very progressive one he has a determination for the country and for generation yet to come.” Hon. Edward Suluku the Director Corporate Affairs for Ordaf Multi Industry Company Sierra Leone.
The Sierra Leone Ambassador to Guinea Alimamy Hassan Bangura said the operations of Ordaf if not new to him and he assure the minister of trade and industry that he have the confidence that the company will live up to his expectation as they have the capacity as it has been his dream for the company to establish.
The Minister of Trade and Industry Dr. Hinga Sandy had said “We came to Guinea to talk to the Ordaf Multi Company Industry as we have already signed an agreement with them and to give assurance that the government will continue to support them base on what they have plan as they supposed to begin production in Sierra Leone in 2023. We are here to engage them to see what they will do to establish other industry in Sierra Leone as we have see the company is recycling scrap mental, to iron rod, nail, binding wire, box pipe, and this is a solution to still and have also see what they are doing with the waist oil as they are recycling it. The producing oxygen from air both for industry and medical use. He said the country will be cutting on importation, promoting export, an economic activity that assure the country to have forex and employment that the company will create that the government will benefit from. He said as part of agreement between the government and the factory is to monitor the building site, parliament have an over sight. He continue to say the company has invest $250,000,000 in Sierra Leone and the company have HO4 generator and will employ over one thousand five hundred people who will be working in different areas. And the government will deduct from tax for the company and they are trying to band scrap mental out of the country. He said the government of Sierra Leone has signed an agreement with a company in Guinea last year to start operations in Sierra Leone in 2023.”
