SL Must Prioritize Job Creation’

The report projects economic growth at 4.3 percent in 2025, rising to 4.6 percent by 2027, driven by improvements in agriculture, mining, and services.

The report, titled “Enabling the Private Sector for Growth and Job Creation,” stresses that private sector reform is essential for sustaining growth and creating jobs.

The World Bank said Sierra Leone must generate at least 75,000 new jobs each year to keep pace with its expanding workforce.

World Bank Country Manager Abdu Muwonge stated that unlocking the potential of the private sector remains critical to diversifying Sierra Leone’s economy and creating meaningful employment.

He noted that maintaining fiscal discipline, improving the investment climate, and strengthening social spending are vital to achieving inclusive and sustainable growth.

The report points out that while inflation has eased to 5.4 percent by September 2025 due to tighter fiscal and monetary policies and a stable exchange rate, debt levels remain a concern as the country continues to face high external debt servicing costs.

The cost of domestic borrowing has declined significantly, reflecting reduced government reliance on local debt.

World Bank Senior Economist Michael Saffa, the report’s lead author, said that Sierra Leone’s prospects for growth and poverty reduction depend on fiscal discipline, an improved business environment, and private sector-led job creation.

He warned that without decisive reforms, the country risks falling short of its development objectives.

The Sierra Leone Economic Update, the World Bank’s annual flagship publication for the country, provides analysis of recent economic trends and policy recommendations.

It concludes that revitalizing the private sector is essential to unlocking Sierra Leone’s growth potential and securing more jobs for its people.