The Ministry of Planning and Economic Development (MoPED) is working to develop two national financing frameworks aimed at tapping into diaspora resources and attracting investment through blended finance to support Sierra Leone’s development agenda.
The proposed National Diaspora Finance and National Blended Finance Frameworks were the focus of a technical committee meeting held at the Ministry’s Conference Room in Freetown on Thursday, 15 October 2026. Participants examined the consultants’ proposed work plan and discussed how the frameworks could help address financing gaps and direct additional resources towards national priorities.
Opening the meeting, Deputy Development Secretary I, Usman Cherry Conteh, called for stronger collaboration among government institutions, development partners, the private sector and civil society to identify viable ways of financing development.
He explained that diaspora financing could provide additional resources for the economy, while blended finance could help attract private investment by combining public funds, private capital and concessional financing.
Conteh also highlighted discussions held by Sierra Leone’s delegation on the two frameworks during the country’s recent participation in the United Nations General Assembly in New York. He encouraged the committee to build on those engagements and translate them into practical financing opportunities for the country.
The Ministry has engaged international consultant Dr Master Mushongo of Zimbabwe and national consultant Dr Ezekiel Duramany-Lakkoh to undertake the assignment. Conteh urged committee members to contribute their expertise to ensure that the proposed frameworks respond to the country’s specific economic conditions and institutional needs.
Presenting the technical approach, Dr Duramany-Lakkoh said the consultants would examine the country’s financing requirements, diaspora remittance patterns, institutional capacity and potential sources of blended finance. The assessment will draw on existing documents, quantitative data and consultations with relevant stakeholders.
The proposed activities include mapping key institutions, conducting interviews and surveys, organising focus group discussions, reviewing international experiences and holding validation workshops. The findings are expected to guide the formulation of policy measures and practical arrangements for implementing the frameworks.
Dr Mushongo stressed that the success of the assignment would depend on meaningful stakeholder participation and a clear plan for putting the recommendations into practice. He called for measurable performance indicators and clearly assigned responsibilities to help track implementation.
He also highlighted the need to examine existing policies, institutional barriers and financing opportunities in sectors such as agriculture and private-sector development. Lessons from other countries will be considered alongside Sierra Leone’s own circumstances.
Committee members raised concerns about informal financial activities and the difficulties they present for resource mobilisation. Abou B. Kamara of the Institute for Governance and Change (IGC) noted that some diaspora remittances and business transactions occur outside formal financial systems, making it difficult to capture their full contribution to the economy.
He urged the consultants to consider ways of encouraging formal financial transactions and to examine tax exemptions, possible revenue leakages and financing gaps. He also referred to issues arising from industry research conducted in 2025, which he said should inform the policy recommendations.
Ishmail Kamara of the National Revenue Authority (NRA) highlighted the challenge of monitoring transactions that take place through informal channels. He suggested exploring more effective transaction systems, including online platforms, to improve the recording of financial activities.
Leonard Moseray of the National Investment Board (NIB) described the discussions as an important starting point and called for an approach to formalisation that reflects the realities of Sierra Leone’s economy.
Moronikeh M. Hamid of the United Nations Development Programme (UNDP) welcomed the proposed technical approach but recommended that the stakeholder mapping process clearly distinguish institutions according to their mandates and expertise. He also called for consultation methods suited to different stakeholder groups and the use of both quantitative and qualitative evidence.
Hamid further emphasised the need for a final roadmap that provides technically sound guidance while remaining clear and accessible to policymakers.
Responding to the issues raised, Dr Mushongo and Dr Duramany-Lakkoh assured the committee that members’ contributions would be considered as the work progresses. They also pledged to coordinate their technical approaches and continue engaging stakeholders throughout the process.
The meeting ended before all agenda items could be completed. Assistant Director of Planning, Policy and Research, Madam Nyandaya F. Cole, requested an adjournment due to time constraints. A recap of the discussions and the finalisation of the Results Framework remain outstanding and are expected to be addressed at a subsequent meeting.
Through the two frameworks, MoPED aims to identify additional sources of development financing and establish practical ways of mobilising diaspora resources and attracting investment to support Sierra Leone’s national priorities.
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