On August 28, 2024, the Sierra Leone Ports and Harbour Authority (SLPHA) presented its budget for the Fiscal Year 2025 to Ministry of Finance officials.

The authority aims to bolster revenue generation and drive sustainable national economic growth through enhanced port operations, safety, security, and trade facilitation.

Andrew Tamba Kpulun, Financial Controller of SLPHA, highlighted the port’s commitment to contributing $100 million annually from concession fees and royalties.

The port is also set to maintain a 20% government share in the operations of Freetown Terminal Ltd (FTL). Kpulun emphasized the port’s intent to match its performance with that of leading ports in the sub-region and globally.

Kpulun stressed the need to address micro and macro wastages, improve customer service, and invest in infrastructure and staff capacity. Key revenue sources include Marine Services, Stevedoring (Liquid Bulk), Container Terminal port fees, and Marine Slipway services.

The 2025 budget assumptions include activity-based and incremental budgeting, factoring in concessions of Freetown Terminal Ltd, Nectar-SL Bulk Terminal Ltd, and Slipway services to Holland Shipyard. The budget also considers a workforce of 359 and a projected exchange rate of NLe 24,000 to $1.

The capital investment summary for 2025 is estimated at NLe 17.337 billion. Planned investments include purchasing an ambulance and a tripper truck to replace outdated equipment. The authority is also pursuing private sector investment in towage and pilotage services, in collaboration with the National Commission for Privatization.

Addressing environmental threats, Kpulun noted  the key issues such as squatter settlements increasing accident risks and equipment vibrations potentially damaging infrastructure. Despite these challenges, including jetty and berth rehabilitation, dredging, signal sign installations, and the construction of a new administrative building, the port remains committed to overcoming these hurdles to ensure efficient and profitable operations.

The Ministry of Finance budget officers, along with Civil Society Organizations (CSOs), Non-State Actors (NSAs), and the media, had expressed support for the SLPHA budget, recognizing its potential for increased revenue generation and national growth.