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“Foreign aid alone cannot lift Sierra Leone out of poverty”

...Finance Minister of State tells ACBF

September, 28, 2015 Abdul Karim Koroma in Addis Ababa, Ethiopa

Sierra Leone’s Minister of State in the Ministry of Finance and Economic Development, Alhaji Foday Mansaray, has said that foreign aid alone cannot lift Sierra Leone out of poverty.

Alhaji Mansaray made this disclosure at the 24th annual meeting of the African Capacity Building Foundation (ACBF) Board of Governors’ conference at the African Union headquarters in Addis Ababa.

The meeting was convened to seek guidance from the Board of Governors on the future direction of the African Capacity Building Foundation (ACBF), for members to deliberate on increased visibility of ACBF, and for the Board of Directors to be updated on the activities of the Executive Board and Secretariat over the previous years.

Minister Mansaray told the board that reforms undertaken over the years by the government of President Ernest Bai Koroma to modernise the tax base in Sierra Leone have significantly improved tax administration in the country.

“The introduction of the Automated System for Customs Data Administration has increased revenue collection and shorten tax processing time,” the Minister stated, adding that the Goods and Services Tax introduced in 2010 has also increased revenue by over 300% since its introduction.

Madam Jennifer Chiriga, Chief of Staff in the office of the Chairperson of the African Union Commission, who made a statement on behalf of the Chairperson of the Commission, said the meeting was a clear indication of the importance Africa attaches to capacity building.

She said partnership between the Commission and the ACBF spans over two decades, adding that the latter has provided USD14.8 grant to the Commission to boost its human capacity.

The meeting was also attended by ministers and bank governors across the continent.

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