Progress to date PDF Print E-mail

Two six-monthly work plans were developed during 2010 outlining the various activities that were earmarked for implementation despite the late start in the first half of the year. A review is in progress but the focus of the SLBF in 2011 will be as follows:

Facilitating the Doing Business reforms in the country with a view to significantly improving the country’s rankings in the World Bank’s Annual Doing Business Survey. A new DB consultant was appointed in October 2010 to continue with DB reforms following the departure of the erstwhile DB consultant in July and he has had series of meetings with various DB stakeholders as well as presenting the DB 2012 Action Plan to key stakeholders which is aimed at making Sierra Leone a top DB reformer in 2012. This includes: streamlining the construction permit mapping processes and procedures so as to make them user and business friendly; streamlining the tax payment system by ensuring that taxes are paid through the commercial banks rather than through the NRA; improved regulations to ease access to credit; speeding up property registration; and ensuring the speedy resolution of commercial disputes through contract enforcement – in the fast-track commercial court.

Business Registration

Monitor the Business Registration process at the Office of the Administrator and Register General (OARG) by conducting surveys of new businesses registered and following up on the modernization of the ICF-funded modernization of the OARG Project.

Progress to date:

  • New streamlined 4 step process
  • Mandatory use of solicitor removed
  • Exchange control permission removed
  • Work & residence permits unified

Tax and Customs

Monitor the implementation of the Goods and Services Tax (GST) nationally, streamlining the tax payment system through the banks and ensuring that delays with the import and export of goods at the ports are minimized.

Progress to date:

  • Advance tax payment for new businesses no longer required
  • Streamlined customs processes and computerisation of customs underway
  • GST introduced

Land Reform

Support legislative and policy reviews on land issues and follow-up on the Western Area Land Registration Project and the National Lands Policy document of The Lands Ministry to ensure their effective implementation.

Progress to date:

  • Modernisation of land registration and administration system in the Western Area of Sierra Leone (ICF funded project)

Financial Sector Reform

Monitor the implementation of the Financial Sector Development Plan (2009) by the Bank of Sierra Leone to ensure better access to financial services and product diversification. Supporting the enactment of the Credit Reference Bill to ensure adequate and timely information about borrowers’ creditworthiness.

Progress to date:

  • Financial Sector Development Plan(2009) published
  • Credit Reference Bill finalised

Trade Facilitation

Finalizing the import and export mapping processes and procedures with a view to streamlining them and disseminating them to all stakeholders. Also following up on the implementation of the Assycuda ++ Software at Customs by the NRA which aims to reduce the time, procedures and processes of clearing goods at the Quay.

Progress to date

  • Process maps developed but awaiting validation
  • ASSYCUDA software implemented

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