The Government of Sierra Leone, through the Ministry of Transport and Aviation under the leadership of Ambassador Alhaji Fanday Turay, has facilitated and overseen the signing of a landmark Joint Venture Agreement between the Sierra Leone National Shipping Agency (SLNSA) and Zhejiang Xiehai Group Co. Ltd. to establish the Sierra Leone Ocean Shipping Company (SLOSCo), marking a major milestone in the country’s efforts to restore its national shipping carrier under the Sierra Leone National Shipping Agency Act, 2025. The initiative is expected to strengthen Sierra Leone’s maritime industry, expand international trade, improve logistics services and create employment opportunities while positioning the country as a competitive maritime hub in West Africa.
The agreement was signed on Thursday, 16 July 2026, at the Ministry of Transport and Aviation, Youyi Building, in Freetown. Under the partnership, the new national carrier will be established without placing any financial burden on the Government of Sierra Leone, as Zhejiang Xiehai Group Co. Ltd. will provide the capital investment, vessels and technical expertise required to operationalize the company.
Speaking during the signing ceremony, the Minister of Transport and Aviation, Ambassador Alhaji Fanday Turay, described the agreement as a turning point in Sierra Leone’s maritime history and a significant milestone in the Government’s efforts to restore the country’s presence in global shipping. Ambassador Alhaji Fanday Turay said the partnership reflects the Government’s commitment to transforming the maritime sector into a key driver of economic growth and national development.
The Minister explained that the reform process began in 2023 following a directive from President Dr. Julius Maada Bio to address longstanding challenges confronting the country’s shipping institution after a previous joint venture failed to achieve its intended objectives. Ambassador Alhaji Fanday Turay said the Government subsequently secured Cabinet and Parliamentary approval to replace the former Sierra Leone National Shipping Company with the Sierra Leone National Shipping Agency before pursuing a new strategic partnership capable of delivering sustainable results.
According to him, Sierra Leone has relied almost entirely on foreign shipping companies to transport imports and exports for decades, resulting in lost economic opportunities, limited local participation and substantial foreign exchange outflows. Ambassador Alhaji Fanday Turay said the new joint venture is designed to reverse that trend by restoring a national carrier capable of supporting trade, facilitating economic growth and strengthening Sierra Leone’s participation in international maritime commerce.
He further noted that beyond strengthening maritime transport, the partnership is expected to create employment opportunities, develop local maritime expertise, stimulate growth in the logistics and port sectors, increase Government revenue through taxes, registration fees and dividends and attract additional investment into the country’s economy. The Transport Minister assured the public that the agreement followed a transparent and competitive procurement process and includes strong governance and accountability measures to safeguard Sierra Leone’s interests and ensure full compliance with the law.
Chief Operating Officer of Zhejiang Xiehai Group Co. Ltd., Laurent Debart, described the agreement as more than a commercial investment, saying it reflects the company’s long-term commitment to supporting Sierra Leone’s economic development. Laurent Debart said Zhejiang Xiehai Group Co. Ltd. is bringing extensive international shipping experience to the partnership and remains committed to working closely with the Government of Sierra Leone to build a stronger maritime industry capable of supporting trade, creating jobs and delivering sustainable economic growth. He added that the agreement also lays the foundation for a lasting partnership between Zhejiang Xiehai Group Co. Ltd. and Sierra Leone.
Sierra Leone’s Ambassador to the People’s Republic of China, Ambassador Abdul Karim, described the agreement as the culmination of a process initiated under the leadership of President Dr. Julius Maada Bio to revive the country’s shipping sector. The Ambassador disclosed that after assuming office in 2024, he was tasked with identifying a credible international partner capable of transforming Sierra Leone’s maritime industry. Following engagements with several Chinese companies, Ambassador Abdul Karim said Zhejiang Xiehai Group Co. Ltd. was selected because of its strong international reputation and ownership of a fleet of more than 50 vessels.
He said the partnership will strengthen the operations of the Sierra Leone National Shipping Agency, expand Sierra Leone’s presence in international shipping, create employment opportunities and further deepen the growing bilateral relationship between Sierra Leone and the People’s Republic of China.
Director General of the Sierra Leone National Shipping Agency, Mustapha Mark Lissa, described the signing of the agreement as the successful outcome of a comprehensive reform process aimed at restoring Sierra Leone’s national shipping capacity. He said the agreement represents a major achievement for the Agency and expressed confidence that the partnership will improve maritime operations, expand trade opportunities and contribute significantly to national economic development. Mustapha Mark Lissa also commended the Government of Sierra Leone and the Ministry of Transport and Aviation, under the leadership of Ambassador Alhaji Fanday Turay, for their vision and commitment in bringing the initiative to fruition.
The establishment of the Sierra Leone Ocean Shipping Company is expected to mark the return of Sierra Leone’s national shipping carrier after years of inactivity, opening new opportunities for investment, trade, employment and skills development while strengthening the country’s position in regional and international maritime transport. The initiative also underscores the Government of Sierra Leone’s determination to modernize the maritime sector through strategic international partnerships capable of delivering long-term economic growth and national prosperity.
