By Sallieu S. Kanu
President Julius Bio has committed to making Sierra Leoneans benefit from their God-given wealth and resources.
His commitment came at a Town Hall meeting on Tuesday in Freetown.
The President disclosed that when he took over the reins of government in 2018, almost every inch of Sierra Leone soil was given to some foreign mining company for exploration and that his government had to cancel most of those contracts because they were not beneficial to the people of the country especially the mining communities.
Reforms in the mining sector, he said, were needed. President Bio said they formed Mineral Wealth Fund (MWF), canceled all existing licenses and set new criteria for exploration. Through the MWF, “we have been able to get more by negotiating with investors and now we get up to 50 to 60% of mineral proceeds based on how the MWF negotiates with investors. “Our people should benefit from their God given wealth and resources,” he averred.
On the economy, President Bio said that everything we do hinges on the economy. “When we came to power in 2018, we inherited nothing. The previous government had declared austerity and IMF had suspended Sierra Leone from their programs – the ECF. Based on his headlong fight against corruption and donor confidence was restored.
President Bio commended his Economic Management Team (EMT) for their handling of the economy in very challenging times accompanied by global crises and local and external shocks. “The EMT has done a fabulous job managing the economy. Because of their efficiency in managing the economy, we have been able to pay fees for our children, paid salaries and undertaken under development agendas,” President Bio said.