By Millicent Senava Mannah
A new €6 million agricultural financing mechanism designed to unlock capital for farmers, agribusinesses, cooperatives, women, youth, and MSMEs has officially been launched in Sierra Leone. The initiative, funded by the European Union and implemented by the United Nations Capital Development Fund (UNCDF), is set to transform agricultural financing nationwide through the newly introduced Salone Access to Finance Agri-Financing Facility.The event took place on the 25th November, 2025, at Radisson Blu, on Aberdeen, Freetown.
The initiative aims to make agriculture more bankable, stimulate private-sector investment, and support the government’s Feed Salone agenda by increasing access to financial services for rural communities and agricultural enterprises.
UNCDF Country Lead Firuz Shukurov opened the event by stressing the urgency of addressing Sierra Leone’s agricultural financing gap. He noted that although agriculture employs the majority of Sierra Leoneans, access to credit remains extremely low, largely due to high perceived risk among financial institutions. Before UNCDF’s intervention, fewer than six percent of financial institutions participated in agricultural lending. The Agri-Financing Facility, he explained, is designed to reverse this trend by reducing lending risks, expanding liquidity, and supporting tailored financial products for farmers, processors, and rural businesses. Shukurov emphasized that the facility will play a critical role in strengthening financial inclusion, particularly for women, youth, and cooperatives.
Minister of Agriculture and Food Security, Dr. Henry Kpaka, delivered an expanded statement underscoring the importance of the facility to the government’s Feed Salone initiative. He described Feed Salone as a comprehensive transformation agenda that aims to modernize farming practices, increase food production, and achieve national food security.
Dr. Kpaka noted that while the agriculture sector contributes significantly to employment and the economy, most farmers struggle to access formal financing due to lack of collateral and limited financial knowledge.
The Minister described the Agri-Financing Facility as a “historic breakthrough” that will help farmers move from subsistence to sustainability and ultimately to profitability. He revealed that over 300 applications had already been received, with some businesses securing up to $100,000 depending on the strength of their proposals.
Dr. Kpaka emphasized that the combination of loans, grants, insurance, and technical support will ensure not only access to finance but also long-term farm and business viability. He explained that the facility will support value chains including vegetables, cassava, maize, poultry, and other priority crops, helping to stabilize the agricultural portfolio and reduce sectoral risks.
He concluded that this intervention is about empowering farmers, protecting livelihoods, and positioning agriculture as the engine of Sierra Leone’s economic future.
EU Representative Philippe Rousseau reaffirmed the European Union’s commitment to strengthening Sierra Leone’s private sector through the €6 million Agri-Financing Facility. He explained that the initiative is part of a broader EU strategy to expand financial inclusion, digitalize rural financial services, and introduce agricultural insurance to protect farmers from risks.
Rousseau highlighted the EU’s ongoing support for key value chains such as cashew, cocoa, sweet potato, and pineapple, working closely with NGOs and private partners to boost productivity and job creation.
He noted that the EU’s Global Gateway strategy, including a €35 million investment launched earlier in the year, aims to support green infrastructure, digital transformation, and increased business exchanges between Europe and Sierra Leone. He concluded by stressing the importance of empowering women and young entrepreneurs, saying that equal access to opportunities is essential for inclusive and sustainable growth.
UNCDF Investment Analyst Jerioth Mwaura provided an in-depth presentation on the structural challenges affecting agricultural lending in Sierra Leone. She highlighted both supply-side issues, where banks lack appetite and expertise for agri-lending, and demand-side challenges, where many agribusinesses are considered unbankable due to weak financial records or limited managerial capacity.
To address these gaps, UNCDF has spent the last nine months providing nationwide agri-financing workshops for banks and microfinance institutions. Mwaura also introduced the Agri MSME School, a long-term training program helping agribusinesses strengthen financial management and become bankable.
She formally unveiled the €6 million Agri-Financing Facility, which is accessible nationwide through partner institutions and uses a blended finance model to make loans more affordable. She stressed that the facility encourages participation from women, youth, and first-time borrowers, and demonstrates that agriculture is a viable and investable sector worth the attention of financial institutions.
Jaward Siaka, Managing Director of Safe Capital Microfinance, spoke about the importance of expanding access to finance for smallholder farmers and agricultural SMEs, noting the persistent challenges these groups face in reaching both markets and credit. He explained that Safe Capital has been supporting MSMEs since 2018 but acknowledged that agriculture remains a high-risk sector that requires deliberate risk management.
He added that the partnership with UNCDF under the Agri-Financing Facility will enable Safe Capital to reach more agribusinesses, strengthen rural economic resilience, and deepen credit availability across the agricultural value chain.
The Head of Banking at Vista Bank, Ousman Njie, who provided insights into how commercial banks can leverage the facility to expand financing to underserved groups. Their input highlighted the broader implications for Sierra Leone’s banking sector, particularly in promoting financial inclusion and improving loan accessibility.
According to the press release, the facility is open to a wide range of agricultural enterprises, including: Smallholder farmers, Cooperatives, Farmer groups, Processors, Aggregators, Agribusinesses involved in rice, cassava, maize, vegetables, palm oil, cocoa, and poultry farmers.
They can apply for loans to: buy seeds, fertilizers, and other inputs, acquire farm equipment or processing machinery, and support working capital and business expansion.
Applications are now open at Vista Bank and Safe Capital Microfinance branches nationwide. Interested applicants can visit any branch to learn about eligibility, prepare loan applications, and receive guidance from trained officers.
All applications will be reviewed fairly and transparently, with applicants required to present viable business plans and repayment strategies.
The launch of the Agri-Financing Facility marks a major step in Sierra Leone’s ongoing push to improve financial inclusion, stimulate private investment, and strengthen the rural economy. With EU funding, UNCDF implementation, and collaboration from Vista Bank and Safe Capital Microfinance, the facility aims to increase agricultural lending, build bankable agribusinesses, support women and youth entrepreneurs, create jobs, and reinforce the agricultural value chain. Applications are now open at partner financial institutions across the country.
