By Amin Kef (Ranger)
President Julius Maada Bio, in a significant move aimed at bolstering the country’s private sector, unveiled the newly established SABCO Sardine and allied products factory at Jui. Commissioned on Tuesday, March 12, 2024, the factory marks a pivotal step in Sierra Leone’s economic landscape that will potentially generate employment opportunities for up to a million youths in the foreseeable future.
SABCO Fishing Company, with its roots tracing back to the Sabbagh Supermarket in Bo City in 2001, has undergone a transformative journey, evolving into SABCO Fishing Company in 2013.
Speaking during the event, Abess Sabbagh, the Chief Financial Officer of SABCO Fishing Company, reflected on the challenges encountered and strategic decisions made by the company over the years. Notably, Sabbagh highlighted the transition from a supermarket chain to a fishing enterprise, emphasizing the strategic move to expand operations to the fishing hub in Kissy and the acquisition of eight fishing vessels from Chinese partners to meet market demands.
Abess Sabbagh reiterated SABCO Fishing Company’s commitment to excellence and community development, emphasizing the launch of the SABCO Sardines processing facility as a testament to their dedication to quality and customer satisfaction.
In his address, President Bio commended the Management and Staff of SABCO Fishing Company for their dedication and foresight in establishing the new factory. He hailed the inauguration as a significant milestone in the implementation of his Government’s Medium-Term Development Plan particularly the Feed Salone Initiative. The President reiterated the Government’s commitment to fostering a conducive environment for private sector growth and development.
Under the Feed Salone Initiative, President Bio emphasized the importance of diversifying food sources and increasing local production of protein-rich foods such as fish. He underscored the potential of Sierra Leone’s marine resources, with its expansive coastline and abundant marine life, in driving economic growth and food security.
Moreover, President Bio highlighted the role of value addition, particularly in processing sardines and mackerels into canned food, as a means of creating employment opportunities and enhancing export potential.
He encouraged collaboration between the Ministry of Fisheries and Marine Resources and SABCO Fishing Company to explore export opportunities in the region and beyond. Drawing inspiration from successful models like Morocco, President Bio envisioned Sierra Leone becoming a leading producer in the sub-region, contributing to the reduction of a trade deficit.
The inauguration ceremony witnessed meaningful contributions from key stakeholders, including the Parliamentary Committee on Fisheries, the Ministers of Fisheries and Marine Resources, Trade and Industry, and the President of the Industrial Fishing Companies Association. Their collective efforts underscored the collaborative approach towards promoting private sector growth and harnessing the potential of Sierra Leone’s marine resources for socio-economic development.
As Sierra Leone embarks on this new chapter in its economic trajectory, the inauguration of the SABCO Sardine and allied products factory stands as a symbol of progress and prosperity, reflecting the government’s commitment to transforming the country’s economic landscape through private sector-led initiatives.
