By Ragan M. Conteh

During the parliamentary debate on the Sierra Leone Shipping Agency Act 2024, Deputy Leader of the opposition Hon. Daniel Koroma voiced skepticism over the efficiency of state-owned enterprises (SOEs) in revenue generation.

While expressing conditional support for the proposal, he raised concerns about whether the new agency would be any different from the past state-run enterprises that failed to deliver economic benefits.

Hon. Koroma questioned the government’s ability to manage revenue-driven institutions, citing the failures of state-owned companies like Sierratel and the former National Postal Service. He argued that, historically, private companies have outperformed public enterprises, generating significant profits while government-run entities have struggled.

He pointed out that multinational telecommunications companies such as Orange and Africell now dominate the industry, making millions daily, while Sierratel has faded into irrelevance despite Parliament previously granting it similar powers.

He further referenced the collapse of government-backed initiatives like Serbian House Incorporation and the former national savings bank, which once played a critical role in small-scale savings but have now disappeared.

Hon. Koroma urged lawmakers to critically assess whether granting the new shipping agency expanded powers would lead to meaningful economic transformation or merely repeat past failures.

He emphasized that the government must break the cycle of inefficiency in state enterprises, calling for concrete assurances that the agency would not follow the same path as its predecessors.