By Foday Moriba Conteh
Deputy Minister of Mines and Mineral Resources, Umaru Napoleon Koroma, is set to return home with heightened optimism following his successful participation at a prestigious business conference in Jaipur, India. The conference, which focused on promoting international investment opportunities, has paved the way for potential direct foreign investments into Sierra Leone’s mining sector.
Invited by Dr. Opesh Singh, a renowned Indian author, multi-millionaire businessman and investor, the Deputy Minister traveled to Jaipur, Rajasthan, for the three-day event. The conference provided a platform for countries to showcase themselves as attractive destinations for global investors. In his capacity as the Chief Guest Speaker, Umaru Napoleon Koroma delivered a compelling presentation on Sierra Leone’s vast, untapped mining potential, which earned him a standing ovation from the audience.
During his address, the Deputy Minister emphasized the commitment of President Julius Maada Bio’s administration to creating an enabling environment for foreign investment. He highlighted the country’s focus on fostering meaningful direct foreign investment, particularly in the mining sector, which holds immense potential for growth and development.
Umaru Napoleon Koroma’s invitation to the event followed a previous engagement with Dr. Opesh Singh, who had visited Sierra Leone to explore investment opportunities in the country’s mining sector. At that meeting, the Deputy Minister passionately advocated for African nations to capitalize on their mineral resources through value addition, ensuring greater benefits for local economies.
“I took this opportunity to showcase Sierra Leone’s untapped potential in the mining sector and called on Indian investors to seize the opportunity to invest. With the support of the Ministry of Mines and Mineral Resources and the National Minerals Agency, I attended the conference to further our agenda of transforming the mining sector by attracting more investments, particularly in value addition,” Umaru Napoleon Koroma remarked.
He also noted that Sierra Leone’s progress in the fight against corruption and its emphasis on human capital development has enhanced the country’s appeal as a business-friendly destination.
On the sidelines of the conference, Umaru Napoleon Koroma engaged in discussions with several business leaders and investors who expressed keen interest in exploring investment opportunities in Sierra Leone. As a result, a delegation of Indian investors, led by Dr. Opesh Singh, is scheduled to visit Sierra Leone in November 2024 to assess the country’s mining sector and explore potential ventures.
The visit of these high-profile investors marks a significant step in the President Julius Maada Bio administration’s efforts to attract foreign investment and stimulate economic growth in the mining industry. The November visit could potentially lead to substantial investments that will contribute to the long-term development and transformation of Sierra Leone’s mining sector.
