Sengeh Unveils $500M West African Rice Investment Facility
- Grace Bangura
- 18 minutes ago
- 2 min read
Sierra Leone, alongside five other West African nations, is set to benefit from a new $500 million Rice Investment Facility designed to boost local rice production and reinforce regional agricultural value chains.
Chief Minister David Moinina Sengeh announced the initiative after representing President Julius Maada Bio at the Africa Food Systems Forum 2026 in Kigali, Rwanda, during the Rice Financing Roundtable.
Soft-launched during the Kigali summit, the facility spans Sierra Leone, Ghana, Senegal, Côte d’Ivoire, Guinea, and Nigeria to catalyze innovative private and public financing for competitive rice production.
To launch the program, the ECOWAS Bank for Investment and Development (EBID) committed $100 million in initial capital, with major support pledged by the African Development Bank, International Fund for Agricultural Development, World Bank, and other international partners.
In addition to direct funding, participating development organizations pledged technical assistance and advisory resources to guarantee long-term program effectiveness.
During the roundtables, Minister of Agriculture and Food Security Dr. Musa Kpaka detailed strategic entry points for private-sector investors and commercial partners.
Emphasizing domestic co-investment, Sengeh highlighted that Sierra Leone is contributing nearly $100 million to build designated Rice Zones and agricultural processing hubs.
The government has backed these agricultural efforts by expanding rural road networks and bridges to connect farms to major commercial centers, complemented by attractive tax incentives for agricultural enterprise investments.
The regional initiative directly supports Sierra Leone's 'Feed Salone' agenda, strengthening national self-sufficiency and broader food security across West Africa.
Looking ahead, Sengeh invited international stakeholders to the upcoming West Africa Integration and Investment Summit, scheduled for November in Sierra Leone.
At the upcoming summit, President Bio is slated to introduce a broader regional financial framework for ECOWAS member states to further drive economic development and this soft launch of $500 million facility is a step in uniting public and private capital to advance rice processing and agricultural supply chains throughout the region.
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