Sierra Leone Ports & Harbours Authority To Transfer $8 M In Dividends To GoSL
The Sierra Leone Ports and Harbours Authority (SLPHA), through its concessionaire, Freetown Terminal Limited (FTL), is set to transfer the sum of Eight Million United States Dollars ($8M) as government equity shares for the year ended 31st December 2025. The transfer demonstrates strong financial commitment to national economy.
The amount to be transferred accounts for 20% share to the Government of Sierra Leone from dividend declared by the FTL, a private operator at the Freetown Port.
Over the years, the Sierra Leone Ports and Harbours Authority has been paying dividends and significant revenue contributions to the Government of Sierra Leone, marking a turnaround in its financial performance. For 2023, the Director General of the Sierra Leone Ports and Harbours Authority, Yankuba Askia Bio remitted the sum of $4 million to the government. He subsequently remitted the sum of $7 million for 2024, and is now set to remit the sum of $8 million for 2025, recording improvement in revenue streams.
Reports indicate that since 2023, the Authority has improved its financial standing, paying over $11 million in concession fees to the government over a two-year period.
Under the leadership of Director General Yankuba Askia Bio, the SLPHA has undergone reforms which include digitalized and modernized operational systems, leading to increased efficiency and revenue generation.
The funds paid to the government are used to support national development priorities including infrastructure expansion, maritime security, and public service delivery. The SLPHA was also ranked as the top-performing agency under the Ministry of Transport and Aviation in the 2025 mid-term performance.
In another development, the government through the Sierra Leone Ports and Harbours Authority (SLPHA) is undertaking the rehabilitation of berths 3,4,5 and 6. The $25 million rehabilitation is funded by the FTL as part of their concession agreement with the Government of Sierra Leone.