INSTITUTIONAL CAPACITY AND INVESTMENT PROMOTION IN POST-CONFLICT SIERRA LEONE: ASSESSING THE ROLE OF THE SIERRA LEONE INVESTMENT AND EXPORT PROMOTION AGENCY (SLIEPA) AND THE NATIONAL INVESTMENT BOARD (NIB)
Abstract
This article examines how institutional capacity has shaped investment promotion and economic transformation in post-conflict Sierra Leone, with particular attention to the transition from the Sierra Leone Investment and Export Promotion Agency (SLIEPA), established under the SLIEPA Act 2007, to the National Investment Board (NIB), created by the National Investment Board Act 2022. Drawing on institutional economics, state capacity theory, developmental state scholarship, public choice theory, and public value theory, the study employs a qualitative policy research design combining institutional analysis, documentary analysis, comparative analysis, and secondary data drawn from government policy papers, investment legislation, national development plans, and reports of the World Bank, the International Monetary Fund, UNCTAD, the African Development Bank, and national statistical agencies. The analysis traces the evolution of investment promotion institutions from the end of the civil war in 2002, assesses the mandate, governance, performance, and constraints of SLIEPA, and evaluates the design and early implementation of the NIB, including its consolidation of SLIEPA, the Corporate Affairs Commission, the business registry functions of the Office of the Administrator and Registrar General, and the Public Private Partnership Unit into a single institutional platform anchored by a One Stop Shop for investors. The article compares Sierra Leone’s institutional trajectory with investment promotion agencies in Rwanda, Ghana, Kenya, Ethiopia, Uganda, Botswana, Mauritius, and Zambia. The evidence indicates that legal consolidation has reduced institutional fragmentation and signalled political commitment, but that persistent constraints in funding, staffing, data systems, inter-ministerial coordination, and the wider investment climate continue to limit the conversion of institutional reform into sustained investment inflows and export growth. The article argues that organisational redesign is a necessary but insufficient condition for investment-led transformation, and that durable results depend on protected financing, professionalised staffing, credible monitoring, and complementary reforms in energy, land administration, and contract enforcement. Policy recommendations and directions for future research are presented.
JEL: G2, B20, F37, F42, F43, F50
Keywords
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DOI: http://dx.doi.org/10.46827/ejmms.v11i2.2266
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