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AfricaJanuary 2 2006

What the bankers say: Sierra Leone

The Banker invites CEOs from around the world to discuss the economic climate in their country and institution, and their hopes for the future
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Standard Chartered: Lamin K. Manjang, managing director

1. What makes your country attractive to investors? 

Sierra Leone is endowed with abundant natural resources including diamonds, gold, bauxite and iron ore. It also has enormous potential in agricultural products, such as cocoa and coffee, as well as fisheries and tourism.

 2. What are the economic prospects for your country over the next three to five years? 

Economic prospects are good in the medium to long term, with increased activity in mining and agricultural sectors. GDP growth of 7% per year is anticipated in the medium term, and macroeconomic indicators are generally sound.

 3. How do you foresee the financial sector in your country changing? 

Three new banks have opened in the past four years, and other banks are planning to open. The government-owned banks will be privatised, and there will be increased competition and deepening of the financial sector.

 4. What role will your bank play in your country’s future development? 

Standard Chartered Bank has been in Sierra Leone for 111 years. Our global network, combined with our local knowledge, will enable us to be a leader in terms of banking products and services and community partnership programmes.

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Read more about:  Africa , Sierra Leone