By Hassan Osman Kargbo
The Sierra Leone Ports and Harbours Authority (SLPHA), through its concessionaire Freetown Terminal Limited (FTL), is set to transfer Eight Million United States Dollars to the Government of Sierra Leone as equity share for the year ending 31 December 2025.
The payment represents the government’s 20 percent share from dividends declared by FTL, the private operator managing activities at the Freetown Port. The transfer highlights the Authority’s growing financial contribution to the national economy and reflects improved revenue performance in recent years.
This latest remittance continues an upward trend recorded by the Authority under the leadership of Director General Yankuba Askia Bio. In 2023, the Authority paid Four Million Dollars to the government. That figure increased to Seven Million Dollars in 2024, and now rises to Eight Million Dollars for 2025, signaling steady growth in income generation.
In addition to dividend payments, reports indicate that since 2023, the Authority has contributed over Eleven Million Dollars in concession fees to the government within a two year period. These contributions form part of broader efforts to strengthen public finances and support national development.
Officials say reforms introduced by the current management have played a key role in improving the Authority’s financial standing. These reforms include the digitalization and modernization of port operations, which have enhanced efficiency, transparency, and revenue collection.
The funds remitted to government are used to support key sectors such as infrastructure development, maritime security, and public service delivery. The Authority’s improved performance has also earned recognition, as it was ranked the top performing agency under the Ministry of Transport and Aviation in the 2025 mid term performance assessment.
Meanwhile, the government, through the SLPHA, is undertaking the rehabilitation of berths Three, Four, Five, and Six at the Freetown Port. The Twenty Five Million Dollar project is being funded by Freetown Terminal Limited as part of its concession agreement with the government.
The rehabilitation is expected to improve port capacity, increase operational efficiency, and position the facility to handle growing trade volumes, further boosting revenue generation in the years ahead.
