Sierra Leone: Mr. President, Let's Improve the Sierra Leone Stock Exchange

opinion

"The time for politics is over, let's continue the path of economic development now". I extracted this excerpt from your swearing-in speech at State House, to lay credence on the urgent need to move the country forward, as there are a bundle of tasks ahead. In my previous commentaries, nothing is utterly urgent in moving the country forward, economically, as the manufacturing industries. It will delight you to see a vibrant manufacturing industrial sector booming, producing basic utility goods in the country. Prices of goods produced locally in the country will be reduced, coupled with the net-multiplier effects on youth employment you have been craving for in virtually all your past speeches.

For a successful industrial take off, the Sierra Leone Stock Exchange needs to be bolstered and strengthened. I understand the Stock Exchange is at its infant stage and very few companies float shares on its stock market. The Stock Exchange is the capital market where investors trade their shares in a one-stop-shop. The advantage of having a locally vibrant stock market is the domestic mobilization of internal capital, through trading of shares in an open floor. Another advantage is that it encourages Sierra Leonean entrepreneurs to become captains of industries, whereby shares traded in the stock exchange reap dividends at the end of designated periods.

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