Sierra Leone’s Ambassador to South Korea, Ambassador Paul Massaquoi, has met with the President of Korea’s Chamber of Commerce (“President KCCI”) to explore business opportunities for Sierra Leone.
During a courtesy visit, Ambassador Paul Massaquoi discussed the need for setting in train the pre-existing agreed bi-lateral trade relations between Sierra Leone’s Ministry of Trade and the KCCI, pursuant to the Memorandum of Understanding between both countries adopted at the Korea-Africa Summit in June 2024.
The meeting recognised the importance of promoting and boosting investment and trade opportunities for Sierra Leone, including her West African neighbours.
He also discussed the need to optimise the initiative as an untapped venture, agreeing that although the market is readily available for such bold initiative; it has not been taken up.
Worthy of note is the fact that understanding and insight among many Koreans on Sierra Leone is vague and superficial, thereby serving as further rationale to expedite steps aimed at a meaningfully socio-economic and geopolitical interaction aimed at bridging the knowledge gap.
In this regard, Ambassador Paul Massaquoi has extended formal invitation to the President of KCCI to encourage the Korean businesses community to participate in a conducted visit and tour of Sierra Leone in particular as a case study, and other West African countries, to see the abundant trade and investment opportunities available.
Ambassador Massaquoi focused the President of KCCI’s attention on the pressing need to consider the favourable opportunities Sierra Leone presents for trading and welcome his timely direct engagement within the minimum of delay.
Responding to the above overture, the President of KCCI reiterated Korea’s long-standing interest in investing throughout Africa, especially in Sierra Leone. However, he noted that many Korean investors were cautious about putting their resources into markets where the returns are uncertain or minimal.
The President of KCCI said that the reason why Korea had reservations was due to Korean investors specifically looking for secure, capital-intensive projects. This includes tangible infrastructural projects on development such as railway and transportation networks, roads, bridges, tunnels, airports, smart cities, agricultural technology, and medical research facilities.
The President of KCCI suggested that Ambassador Massaquoi should commence steps that would encourage the Government of Sierra Leone to develop and present strong investment proposals, the outcome of which they agreed was more capable of surpassing small-scale grants for short term solutions.
To illustrate a project result-oriented model, the President referred to countries in East Africa and the significant yields realised by actively showcasing investment-ready projects.
The overture by Ambassador Paul Massaquoi for and on behalf of Sierra Leone was commended as being an example of farsighted forward-thinking diplomacy and creative initiatives aimed at strengthening Sierra Leone’s position in Korea’s ever-evolving diplomatic and investment scene.
Ambassador Paul Massaquoi concluded the meeting on a very optimistic note, having agreed provision of feedbacks on a set of action plans: Organizing a West Africa Business Forum in Korea scheduled for October 2025; Hosting a West Africa Business Summit in Sierra Leone in 2026; Planning to establish a direct flight route between Korea and West Africa; and Exploring a rice-for-coffee trade partnership between Sierra Leone (including West Africa) and Korea.
He proposed to meet again with the President of KCCI after further consultations with their respective boards and governments, now that they have identified and recognised these highly significant strides at the earliest opportuned time.
This is an impressive and commendable by Ambassador Paul Massaquoi. Strengthening economic diplomacy through targeted engagement with Korea’s business community is essential for unlocking sustainable investment in Sierra Leone and the wider West African region. The proposed initiatives, especially the West Africa Business Forum and sector focused partnerships, signal a bold and forward thinking approach to international collaboration.