Freetown, 26th November 2025- Sierra Leone’s Parliament has ratified a landmark Offshore Bulk Handling Concession Agreement valued at $250 million annually, between the Sierra Leone Ports and Harbours Authority (SLPHA), the Government of Sierra Leone, and Sierra Bulk Handling Limited (SBH).
The agreement, dated 10th November 2025, was presented by Deputy Minister of Transport and Aviation, Rex Bonapha, who underscored its financial and economic significance. He explained that offshore trans-shipment, a core function of SLPHA, has long been hindered by the scale of investment required. Under the new concession, SBH will assume responsibility for offshore bulk handling, with SLPHA providing oversight and supervision.
Bonapha disclosed that the deal will incur zero cost to government, with SBH committing to provide 100% of the investment capital. He revealed that $250 million will be paid to the government within 90 days of ratification, and that the same amount will be remitted annually thereafter. Revenue projections, he added, are expected to rise significantly, particularly from mining companies engaged in trans-shipment.
Chief Whip of Parliament, Hon. Dickson Rogers, described the concession as the first of its kind to deliver such substantial benefits without financial burden on the state. He emphasized that the agreement aligns with President Bio’s pledge to create jobs and stimulate economic growth.
Leader of the Opposition, Hon. Abdul Kargbo, welcomed the deal, noting its potential to strengthen transparency, accountability, and environmental safeguards. He stressed that the positives of the agreement far outweigh any concerns, particularly given its revenue potential and protections against corruption.
Leader of Government Business, Hon. Mathew Sahr Nyuma, clarified clauses relating to revenue generation, private sector inclusion, and stabilization measures. He highlighted the agreement’s role in enhancing offshore security, combating drug smuggling, and protecting Sierra Leone’s marine environment.
Responding to MPs’ concerns, Deputy Minister Bonapha assured Parliament that all issues raised would be addressed to ensure effective implementation and maximize the financial and developmental benefits of the concession.
