Sierra Leone’s drive to strengthen domestic revenue mobilization and improve fiscal management received renewed attention on Thursday, August 20, 2026, when Parliament approved Karefa Ansumana Francis Kargbo as the country’s new Minister of Finance. His approval was accompanied by bipartisan appeals for the Government to support the proposed Kent seaport as part of efforts to ease pressure on the existing port facility and stimulate national economic growth.
Karefa Ansumana Francis Kargbo replaces Sheku Ahmed Fantamadi Bangura and assumes responsibility for the Ministry of Finance at a critical period when the Government is seeking to increase domestic revenue, reduce financial leakages, control expenditure and protect public resources.
The approval followed the presentation of President Julius Maada Bio’s nominees by the Majority Leader and Leader of Government Business, Hon. Mathew Sahr Nyuma, who also serves as Chairman of the Committee on Appointments and the Public Service.
Hon. Mathew Sahr Nyuma informed the House that the Committee had thoroughly vetted the nominees and was satisfied with their qualifications, professional experience and suitability for their respective appointments. He subsequently moved a motion requesting Parliament to approve the Committee’s recommendations.
The sitting was presided over by Acting Speaker Hon. Ibrahim Tawa Conteh and attended by senior Government officials, high-ranking officers of the Republic of Sierra Leone Armed Forces, relatives, friends, supporters and other dignitaries.
A loud and prolonged round of applause filled the Chamber when Hon. Mathew Sahr Nyuma announced the name of Karefa Ansumana Francis Kargbo before outlining his professional profile. Members of Parliament who contributed to the debate described his appointment as timely and expressed confidence in his ability to manage the country’s financial affairs.
Karefa Ansumana Francis Kargbo is a Certified Public Accountant, financial expert and retired Lieutenant Colonel of the Republic of Sierra Leone Armed Forces. His professional career spans finance, auditing, management, corporate governance, public administration and international diplomacy.
He previously served as Minister of Foreign Affairs and International Cooperation. Before his appointment as Finance Minister, he was Executive Director and Chief Executive Officer of the Sierra Leone Mines and Minerals Development and Management Corporation.
He also served as Financial Controller in the Accounting Department of the Petroleum Directorate from August 2011 to January 2016.
Academically, Karefa Ansumana Francis Kargbo holds a Master of Business Administration in International Finance and Management, with Management and Entrepreneurship, from American University in Washington, D.C. He has also undertaken further studies at the Wharton School of Business.
During his vetting by the Committee on Appointments and the Public Service, Karefa Ansumana Francis Kargbo reportedly demonstrated an understanding of the importance of his new responsibility and the expectations attached to the timing of his appointment.
“I am aware of the timing of my appointment and the legacy President Julius Maada Bio wants to leave,” he was quoted as telling the Committee.
The new Finance Minister acknowledged the contribution of his predecessor, Sheku Ahmed Fantamadi Bangura, whom he credited with leaving the Ministry on a solid foundation. He pledged to build on the progress already made instead of starting afresh.
Strengthening domestic revenue mobilization will be among his main priorities. Karefa Ansumana Francis Kargbo said he would work closely with the National Revenue Authority to accelerate revenue collection and introduce stronger measures to reduce financial leakages through digitalization.
He also intends to fast-track the rollout of 10,000 electronic machines to improve the collection of Goods and Services Tax. He emphasized that revenue targets must be based on reliable data to enable the Ministry to determine how those targets were established and whether they were being achieved.
Karefa Ansumana Francis Kargbo further proposed entering into a performance contract with the National Revenue Authority. The agreement would be supported by measurable performance indicators through which the Ministry could objectively assess the Authority’s revenue-collection results.
Contributing to the parliamentary debate, Leader of the Opposition Hon. Abdul Kargbo expressed confidence in the new Minister’s ability to succeed and assured him of Parliament’s cooperation.
He acknowledged the difficulties involved in generating sufficient revenue to finance the operations of the State, but said his interaction with Karefa Ansumana Francis Kargbo had strengthened his confidence in the Minister’s competence.
Hon. Abdul Kargbo also called on the new Finance Minister and the Government to support the seaport being constructed at Kent by the Gento Group of Companies. He said the country’s existing quay was congested and overcrowded, making additional port infrastructure increasingly necessary.
“It is important that we boost the Kent project because the need is there,” he stated.
Deputy Leader of the Opposition, Hon. Daniel Koroma, made a similar appeal, urging the Finance Minister to give serious consideration to the project because of the operational challenges affecting the country’s existing ports.
Another lawmaker recounted an experience at the Cline Town Port, where severe congestion reportedly forced him to leave his vehicle at the facility until the following day. He said the incident demonstrated the need to expand Sierra Leone’s port capacity and improve the movement of goods.
In his concluding remarks, Hon. Mathew Sahr Nyuma said the success of the Minister’s revenue mobilization agenda would depend considerably on effective collaboration with the Commissioner-General of the National Revenue Authority, Abu Martin Kanneh. He also encouraged the Minister to exercise discipline and prudence in public expenditure.
Parliament subsequently approved the Committee’s recommendations, formally clearing Karefa Ansumana Francis Kargbo to assume leadership of the Ministry of Finance.
Outside Parliament, more than 1,000 supporters, many dressed in traditional Limba attire, reportedly gathered around Model Junction, Tower Hill and adjoining streets to celebrate his approval. The crowd displayed appreciation banners, performed traditional dances and expressed support for President Julius Maada Bio and his Government.
Alhaji Mohamed Gento Kamara, Chief Executive Officer of the Gento Group, was among those who joined the celebrations.
The parliamentary approval now places Karefa Ansumana Francis Kargbo at the centre of the Government’s efforts to strengthen fiscal discipline, increase domestic revenue, support productive investment and improve the overall management of Sierra Leone’s economy.
