By Sallieu S. Kanu
Freetown, Sierra Leone – December 5, 2025 The National Social Security and Insurance Trust (NASSIT) has signed a Memorandum of Understanding (MOU) with Liaoning Xinchi Industrial Development Company Ltd, a Chinese investment group, to boost Sierra Leone’s tourism and infrastructure sector.
The announcement was made by NASSIT’s Director General, Mr. Mohamed Fuaad Daboh, during a courtesy visit to the Minister of Employment, Labour and Social Security, Hon. Mohamed Rahman Swarray, at his New England office in Freetown. Mr. Daboh explained that the agreement is part of NASSIT’s efforts to implement PricewaterhouseCoopers’ recommendations and diversify its investment portfolio.
“This partnership is a testament to our ongoing engagements with investors both locally and internationally,” Mr. Daboh said. “The group has expressed strong interest in redeveloping and upgrading facilities at the Radisson Blu Mammy Yoko Hotel and the Golden Tulip Kimbima Hotel. With their support, we aim to create new opportunities for Sierra Leoneans and strengthen our country’s competitiveness on the global stage.”
Welcoming the delegation, Minister Swarray described the deal as a “golden opportunity” and emphasized the importance of swiftly implementing reforms to transform NASSIT’s fortunes. He noted that President Julius Maada Bio is committed to positioning Sierra Leone as a middle-income country by fostering an enabling environment for investment.
“I look forward to working closely with the team to ensure the successful implementation of our shared goals. Together, we can build a better future for our country and its citizens,” the Minister stated.
Speaking on behalf of Liaoning Xinchi Industrial Development Company Ltd, Chairman Zhao Hai Feng expressed gratitude to NASSIT for its willingness to collaborate. He confirmed the company’s readiness to invest in the redevelopment and construction of tourism facilities.
“As investors, we are excited to be part of this project and confident of its success. We look forward to working together with all parties involved to achieve our common goals,” Zhao said.
The MOU marks the beginning of what stakeholders hope will be a transformative partnership, driving economic growth and enhancing Sierra Leone’s tourism infrastructure.