By Amin Kef (Ranger)
President Julius Maada Bio on Monday, June 2, 2026, received a high-level delegation from First Bank Group at State House in Freetown as part of ongoing efforts to mobilize large-scale financing for Sierra Leone’s infrastructure and industrial development agenda.
The delegation was led by the Group Chief Executive Officer of First Bank Group, Mr. Olusegun Alebiosu, and comprised senior engineering executives and international directors of the bank. They were joined by First Bank Sierra Leone’s Country Chief Executive Officer, the bank’s Board Chair, and the Minister of Finance, Sheku Ahmed Fantamadi Bangura.
The meeting focused on exploring innovative financing mechanisms to accelerate investment in critical sectors, including roads, electricity, water supply, bridges, and industrial infrastructure, which are considered essential to driving economic growth and national development.
During the discussions, Finance Minister Sheku Ahmed Fantamadi Bangura reiterated the Government of Sierra Leone’s commitment to moving beyond traditional aid dependency by embracing blended financing models that combine public resources, private sector investment, and concessional funding.
He noted that Sierra Leone’s vast mineral resources and agricultural potential provide a strong foundation for developing sustainable financing arrangements capable of supporting the country’s long-term development ambitions.
“Our priority is to ensure that technical engagements move swiftly toward concrete financing structures and implementable agreements that can unlock critical infrastructure investments,” the Finance Minister stated.
Speaking on behalf of the bank, Mr. Olusegun Alebiosu highlighted First Bank Group’s extensive experience in infrastructure financing across Africa. He emphasized that strategic investments in transportation networks, energy, water systems, and industrial facilities are fundamental to stimulating economic growth, enhancing productivity, and creating opportunities for sustainable development.
Mr. Alebiosu explained that blended finance remains one of the most effective tools for mobilizing large-scale capital for transformative projects. He further disclosed that the bank has the capacity to structure financing arrangements backed by future commodity revenues and mineral royalties, enabling governments to fast-track critical development initiatives without relying solely on conventional budgetary allocations.
He assured the Government of Sierra Leone that First Bank’s engagement would be anchored on transparency, effective local collaboration, and sound financial governance.
President Julius Maada Bio welcomed the initiative and underscored the importance of the proposed financing frameworks in advancing his Government’s “Big Five” development priorities, namely agriculture, fisheries, mining, tourism, and manufacturing.
The President observed that inadequate infrastructure remains one of the most significant obstacles to economic growth, industrial expansion, and private sector development in Sierra Leone. He therefore called for the swift development of concrete project pipelines and financing structures to facilitate implementation.
President Bio also assured the delegation of his Government’s full support in creating an enabling environment for investment and successful project execution.
The engagement is widely viewed as a significant step toward unlocking the financing needed to support Sierra Leone’s long-term development aspirations and accelerate the delivery of critical infrastructure projects across the country.
