By Amin Kef-Ranger
The recent visit of First Bank Group Chief Executive Officer, Olusegun Alebiosu, to Sierra Leone has been widely regarded as a significant step toward strengthening investor confidence, promoting large-scale private sector participation and advancing innovative financing solutions for the country’s development agenda. Central to the visit was a high-level engagement with the Legislature, underscoring the critical role Parliament plays in facilitating major investment agreements and development partnerships.
One of the most notable engagements during the visit was Olusegun Alebiosu’s meeting with the Speaker of Parliament, Rt. Hon. Segepoh Solomon Thomas. During discussions at Parliament, the First Bank Group CEO sought legislative support for proposed investment initiatives and financing agreements that may require parliamentary ratification in the future.
The Speaker welcomed the delegation and reaffirmed Parliament’s commitment to supporting initiatives that promote economic growth, create employment opportunities and contribute to national development. The engagement highlighted the importance of legislative backing in creating a stable and predictable environment for investors while ensuring that major development projects receive the necessary legal and institutional support.
The parliamentary engagement demonstrated a coordinated approach between the Legislature and private sector stakeholders, signaling Sierra Leone’s readiness to attract strategic investments capable of transforming key sectors of the economy.
Beyond Parliament, Olusegun Alebiosu led a high-level delegation to State House, where they were received by President Julius Maada Bio. The delegation included senior engineering executives and international directors of First Bank Group, alongside the leadership of First Bank Sierra Leone and Finance Minister Sheku Ahmed Fantamadi Bangura.
Discussions focused on financing critical infrastructure projects in sectors such as roads, electricity, water supply, bridges and industrial infrastructure. These sectors remain vital to accelerating economic growth, creating jobs, improving competitiveness and expanding opportunities for private sector participation.
Finance Minister Sheku Ahmed Fantamadi Bangura emphasized Government’s determination to reduce dependence on traditional aid by embracing blended financing models that combine public resources, private capital and concessional funding. He noted that Sierra Leone’s rich mineral resources and agricultural potential provide a strong foundation for developing sustainable financing arrangements capable of supporting long-term national development.
Olusegun Alebiosu highlighted First Bank Group’s extensive experience in financing infrastructure projects across Africa and stressed that investments in transportation, energy, water systems and industrial facilities are essential to unlocking productivity and improving living standards.
A particularly significant aspect of the discussions was First Bank Group’s willingness to explore innovative financing mechanisms backed by future commodity revenues and mineral royalties. Such arrangements could provide alternative sources of capital for major development projects while reducing reliance on conventional budgetary financing.
President Julius Maada Bio welcomed the proposal and linked the prospective investments to his Government’s “Big Five” development priorities of agriculture, fisheries, mining, tourism and manufacturing. He emphasized that infrastructure deficits remain one of the biggest obstacles to economic transformation and called for the rapid development of concrete projects and financing frameworks.
The visit also extended beyond investment and financing discussions. In a demonstration of First Bank Group’s commitment to Corporate Social Responsibility, the bank commissioned and handed over newly renovated solar-powered Science and Computer Laboratories at Albert Academy in Freetown.
The project was implemented under First Bank’s Leadership Acceleration Programme (LAP 3.0) and brought together senior executives from the bank’s operations across Africa. The initiative reflects the institution’s commitment to human capital development, technological innovation and educational advancement.
Speaking during the commissioning ceremony, First Bank executives noted that sustainable development requires not only investment in physical infrastructure but also investment in education, technology and youth empowerment. The upgraded facilities are expected to strengthen science and ICT education while promoting environmental sustainability through renewable solar energy.
Olusegun Alebiosu’s visit therefore represented far more than a routine corporate engagement. Through strategic discussions with Parliament, the Executive branch, financial sector stakeholders and educational institutions, the visit reinforced growing investor confidence in Sierra Leone’s economic prospects and highlighted the increasingly important role of private sector financing in national development.
As Sierra Leone continues to pursue economic growth and industrialization, the outcomes of these engagements could pave the way for substantial investments capable of transforming critical sectors, creating jobs and improving the lives of citizens across the country.
