March 24, 2015 By M.B. Jalloh in Riyadh
Sierra Leone’s Ambassador to the United Arab Emirates has showcased the country’s investment potentials across various sectors at a recently organized ‘Doing Business in Africa’ seminar held at the Jumeirah Emirates Tower in Dubai.
Organized by an international law firm, Herbert Smith Freehills (Dubai) for its multinational clients who are currently doing business in Africa or have plans to invest in Africa, H.E. Siray Alpha Timbo was invited to the session as guest of honour to speak on the investment and political climate in Sierra Leone.
In his address, Ambassador Timbo spoke on the current measures being implemented to stimulate economic recovery following the Ebola outbreak in the country. He further explained about the government’s ongoing commitment to consistently improve its ranking on the World Bank Group’s Doing Business table, removing barriers and constraints to private investments and economic activity, and strengthening systems of governance for financial accountability.
There is currently a great deal of investment activity between the Middle East and Africa, with Dubai taking strategic steps to establish itself as a major gateway to Africa.
Recently, the Dubai Chamber of Commerce hosted a number of high profile investment seminars featuring Nigeria’s Aliko Dangote and Stephen Schwarzman, an American business magnate, CEO and Co-Founder of Blackstone.
In September 2014, Dubai also played host to the West Africa Investment Forum during which $20bn was raised to fund flagship projects ranging from energy to infrastructure.
Formed some years ago, Herbert Smith Freehills is an international law firm co-headquartered in London, United Kingdom and Sydney, Australia. It consistently ranks as one of the most prestigious law firms in the world. In the 2013 Global Elite Brand Index, Herbert Smith Freehills was named one of the top 10 global elite law firms, according to Wikipedia.
The renowned law firm has been providing legal support to the Government of Sierra Leone through its Fair Deal Sierra Leone pro bono facility, set up by corporate partner Gavin Davies in 2010. Since then, the firm has provided over £1.2m of free legal advice to the government through the initiative – this includes the recent work of a cross-practice multi-jurisdictional Herbert Smith Freehills team, which has been advising the government in relation to the commercial impact of the Ebola crisis.