Enabling economic development in Sierra Leone

Sierra Leone and other West African nations saw a devastating withdrawal of private-sector investments during and after the Ebola public health crisis.

ReGrow West Africa promotes post-Ebola economic recovery and long-term economic development in Sierra Leone. We support Sierra Leone’s small- and medium-sized enterprises (SMEs), focusing on impact enterprises that are recognized as having significant positive socioeconomic or environmental impacts on their local communities.

RESOLVE and its ReGrow West Africa partners provide comprehensive technical support for Sierra Leonean SMEs, create a methodology for local banks to lend to SMEs, and create a means of promoting Sierra Leonean impact enterprises to investors.

We have completed a one-year business development and training program for thirty SMEs. We also developed a methodology for capitalizing banks and reducing their risks so they may lend to SMEs, and we provided a $500,000 loan to a bank for a “revolving loan fund” to SMEs. These funds will be used to create a loan product specially designed to meet the cash flow and investment needs of SMEs that complete the business development and training program.

By March 2019, ReGrow will launch an internet portal, the ReGrow MarketPlace, which will profile all of Sierra Leone’s impact enterprises. Ultimately, the project seeks to support a robust and growing private sector in Sierra Leone, steeped in business ethics and social responsibility, promoting broader resiliency in the face of societal challenges.