The recent visit of First Bank Group Chief Executive Officer, Olusegun Alebiosu, to Sierra Leone marked a significant step in strengthening investor confidence, promoting large-scale private sector participation, and advancing innovative financing solutions for the country’s development agenda. Central to the visit was a high-level engagement with Parliament, highlighting the Legislature’s crucial role in facilitating major investment agreements and development partnerships.
A key meeting took place between Alebiosu and the Speaker of Parliament, Rt. Hon. Segepoh Solomon Thomas. During the discussions, the First Bank Group CEO sought legislative support for proposed investment initiatives and financing agreements that may require parliamentary ratification.
The Speaker welcomed the delegation and reaffirmed Parliament’s commitment to supporting initiatives that drive economic growth, create jobs, and contribute to national development. The engagement underscored the importance of legislative backing in creating a stable and predictable environment for investors, while ensuring major projects receive the necessary legal and institutional support.
Beyond Parliament, Alebiosu led a delegation to State House, where they were received by President Julius Maada Bio. The group included senior engineering executives and international directors of First Bank Group, alongside the leadership of First Bank Sierra Leone and Finance Minister, Sheku Ahmed Fantamadi Bangura. Discussions focused on financing critical infrastructure projects in sectors such as roads, electricity, water supply, bridges, and industrial development—areas vital to accelerating economic growth, boosting competitiveness, and expanding private sector participation.
Finance Minister Bangura emphasized the government’s commitment to reducing dependence on traditional aid by embracing blended financing models that combine public resources, private capital, and concessional funding. He highlighted Sierra Leone’s abundant mineral and agricultural resources as a strong foundation for sustainable long-term financing arrangements.
Alebiosu highlighted First Bank Group’s extensive experience in financing infrastructure projects across Africa, stressing that investments in transportation, energy, water systems, and industrial facilities are essential to unlocking productivity and improving living standards. Notably, the discussions explored innovative financing mechanisms backed by future commodity revenues and mineral royalties, offering alternative sources of capital for major development projects while reducing reliance on conventional budgetary financing.
President Bio welcomed the proposal, linking the prospective investments to his government’s “Big Five” priorities: agriculture, fisheries, mining, tourism, and manufacturing. He emphasized that addressing infrastructure deficits remains a critical step for economic transformation, urging the rapid development of concrete projects and financing frameworks.
The visit also underscored First Bank Group’s commitment to Corporate Social Responsibility. The bank commissioned and handed over newly renovated solar-powered Science and Computer Laboratories at Albert Academy in Freetown, implemented under its Leadership Acceleration Programme (LAP 3.0). The initiative brought together senior executives from the bank’s operations across Africa and reflects the institution’s dedication to human capital development, technological innovation, and educational advancement.
Speaking at the commissioning ceremony, First Bank executives emphasized that sustainable development requires investment not only in physical infrastructure, but also in education, technology, and youth empowerment. The upgraded facilities are expected to enhance science and ICT education while promoting environmental sustainability through renewable solar energy.
Alebiosu’s visit went beyond routine corporate engagement. By engaging Parliament, the Executive branch, financial sector stakeholders, and educational institutions, it reinforced growing investor confidence in Sierra Leone’s economic prospects and highlighted the increasingly pivotal role of private sector financing in national development.
As Sierra Leone pursues economic growth and industrialization, the outcomes of these engagements could pave the way for substantial investments capable of transforming critical sectors, creating jobs, and improving the lives of citizens across the country.