Govt to Protect Local Manufacturers
The Minister of Trade and Industry, Alpha Ibrahim
Sesay, has confirmed in an exclusive interview with the Global Times that the Government of Sierra Leone was determined to provide “a rock-solid protection” for local manufacturers especially in the cement industry.
He added that the Government was providing concessions/incentives for local cement manufacturers in order to enable them expand their operations to meet local market demand and consumption.
The Trade Minister confirmed that two more companies have been approved to engage in local cement production and distribution.
So far, the major local cement manufacturing companies are grappling with a lot of challenges not least in the area of the pricing formula.
In April 2025, the Government introduced a floor unit price for both imported and locally produced cement.
Companies are expected to comply with the pricing formula agreed with the Ministry of Trade and Industry.
It is reported that one of the local cement manufacturing companies, SOL Co. (SL) Limited, is consistently undermining the pricing formula agreed with the Ministry of Trade and Industry.
SOL Co. (SL) Limited is an affiliate of Wenpeng Group of China. They promised to invest US$40M in building a factory for manufacturing or processing of cement locally.
Even though the factory is yet to be built or completed, SOL Co. (SL) Limited allegedly imports bagged cement and sell it at wholesale to other companies below the unit floor price agreed with the Ministry of Trade and Industry.
SOL Co. (SL) Limited is also accused of criminally refusing to pay handling charges at the Port at Water Quay, by using tug boats to offload their bagged cement consignment from their vessels on the high seas and storing them in their warehouse around the Peninsular area.
The company is further accused of not paying custom duty on imported bagged cement which they sell in open market far below the unit floor price of Le175.00 to Le180.00.
The Minister of Trade and Industry disclosed that the Government was considering increasing the custom duty on imported bagged cement in the 2027 Financial Year in order to protect local manufacturers.
Currently, the custom duty on imported cement is 20%.
Meanwhile, some of the major cement manufacturing companies still rely on imported cement to meet market demand.
Some of them are even accused of not paying the full custom duty on cement consignment imported into this country.
The ACC has investigated reports of tax evasion by at least one of the major cement manufacturing companies.
The major local cement manufacturing companies in Sierra Leone include MACCEM, ROCKCEM, RANDCEM, SOL. CO. and LEOCEM.
Investigations continue.