By George M.O. Williams
November 25, 2025: Sierra Leone has officially launched a €6 million agricultural financing facility designed to expand access to credit for farmers, agribusinesses, and small enterprises across the country.
The initiative, known as the Salone Access to Finance Agri-Financing Facility, was unveiled on Tuesday at the Radisson Blu Hotel in Freetown by the Ministry of Agriculture and Food Security (MAFS), the United Nations Capital Development Fund (UNCDF), and partner financial institutions. Funded by the European Union (EU) and implemented by UNCDF, the program is expected to leverage an additional €6 million from private-sector partners, bringing total investment to €12 million.
Supporting the “Feed Salone” Agenda
Minister of Agriculture and Food Security, Dr. Henry Musa Kpaka, described the facility as a milestone in the government’s “Feed Salone” agenda. He noted that farmers have long struggled with access to finance, prompting the ministry and its partners to design tailored solutions.
The loans will be offered under favorable conditions, including:
- A 15% interest rate ceiling for agri-loans
- A 90-day grace period
- Extended loan tenure
- Integrated agricultural insurance
“This facility provides matching grants and affordable loans to help SMEs scale production, improve efficiency, and strengthen livelihoods. I encourage agribusinesses nationwide to apply and take full advantage of this opportunity,” Kpaka said.
Tackling Barriers to Agricultural Finance
UNCDF Country Lead Firuz Shukurov highlighted the sector’s challenges, noting that agriculture contributes 35–40% to Sierra Leone’s economy but receives only 4% of commercial bank lending due to perceived risks.
“We are introducing a new public-private model to unlock affordable and well-designed agricultural loan products. The goal is to reduce interest rates, expand lending, and ensure that every actor along the value chain—from rice and cassava to maize—can access financing,” Shukurov explained.
Financial Institutions Commit to Support
Chernor Bah, Head of Commercial Banking at Vista Bank, said the bank remains committed to agribusiness financing, but applicants must have operated for at least a year and maintained an account with the bank.
Jaward Siaka, Managing Director of Safe Capital Microfinance, reaffirmed support for smallholder farmers, stressing that the facility is critical for overcoming long-standing barriers to agricultural credit.
EU’s Broader Commitment
EU Team Leader for Rural and Development Infrastructure, Philippe Rousseau, underscored that the €6 million contribution is part of the EU’s wider commitment to strengthening agricultural value chains, boosting employment, and supporting rural communities.
He pointed to EU-backed efforts in cashew, pineapple, and other crops, alongside investments in feeder roads to improve market access. “The EU hopes the facility will attract new donors, bring fresh ideas, and expand market opportunities for Sierra Leonean agribusinesses,” Rousseau said.