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Home News Sierra Leone Clears €299,224 Debt

Sierra Leone Clears €299,224 Debt

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Sierra Leone has cleared outstanding debts totaling €299,224 owed to three major international commodity organizations, restoring the country’s full membership rights and strengthening its position in the global cocoa and coffee trade.

The announcement was made by the Produce Monitoring Board (PMB), which said the Government of Sierra Leone had settled all outstanding obligations to the International Coffee Organization (ICO), International Cocoa Organization (ICCO), and Inter-African Coffee Organization (IACO).

The move restores Sierra Leone’s voting rights and access to technical cooperation programmes after years of arrears.

Speaking during a press briefing in Freetown, PMB Executive Chairman Raymond B. Katta described the development as a major milestone in rebuilding confidence in Sierra Leone’s export commodity sector.

“Vision established. Results delivered,” Katta told journalists, adding that 2026 was “not a year of promises” but a year of measurable achievements.

He said the settlement means Sierra Leone is once again fully engaged in international discussions shaping the future of the cocoa and coffee industries.

“Sierra Leone is back at the table,” he declared.

According to Katta, restoring the country’s standing within the organizations will renew investor confidence, strengthen partnerships with international development agencies, and provide access to global platforms and technical support crucial for the growth of the agricultural sector.

The announcement comes as global commodity markets increasingly demand strict compliance with sustainability and traceability standards, particularly under the European Union Deforestation Regulation (EUDR), which takes effect in December 2026.

As part of efforts to prepare local producers for the changing market environment, the PMB disclosed that it has completed a pilot project involving the mapping of 163 farms in Kenema, Kailahun, and Kono districts using GPS polygon technology.

The exercise integrated geolocation and deforestation-risk data to test systems designed to meet international traceability requirements.

Katta said the pilot has proven that compliance systems can work in Sierra Leone and will now be expanded to cover approximately 40,000 farmers nationwide.

“Our progress is evidence-based,” he said. “We chose action, not aspiration.”

The PMB also highlighted Sierra Leone’s selection for the IACO Country Spotlight 2026, a recognition that places the country’s unique Coffea stenophylla coffee variety in the international spotlight.

The chairman said the recognition could increase buyer interest and improve market opportunities for farmers, particularly in the eastern districts where the crop is cultivated.

“The world is paying attention to Sierra Leone’s Coffea stenophylla,” he said.

Looking ahead, Katta said compliance with international standards would open doors to both European and African markets.

He noted that buyers are increasingly seeking traceable and deforestation-free products, creating opportunities for Sierra Leone’s cocoa and coffee exports to attract premium prices.

He also pointed to opportunities under the African Continental Free Trade Area (AfCFTA), which offers access to a market of approximately 1.4 billion consumers across the continent.

The PMB chief said the institution has strengthened its internal governance systems through revised operating procedures, enhanced digital monitoring systems, stronger sanitary and phytosanitary frameworks, and improved procurement and audit controls.

“We maintain a zero-tolerance approach to weak governance and accountability failures,” he said.

Describing 2026 as Sierra Leone’s “Year of Compliance and Accountability,” Katta urged exporters to embrace international standards and called on development partners and investors to engage confidently with the country’s produce sector.

“Compliance opens doors. Demand is waiting,” he said.

The settlement of the international arrears, coupled with progress on traceability and market access initiatives, marks one of the most significant efforts in recent years to reposition Sierra Leone’s cocoa and coffee industries within the global marketplace.

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