Sierra Leone Launches National Shipping Company to Boost Trade and Cut Foreign Reliance: Key Facts 🇸🇱 United States President Julius Maada Bio commissioned the Sierra Leone Ocean Company (SLOSCO), with the aim of increasing local participation in the maritime sector, the presidency said in a statement. Important facts about the newly established company: Strategic partnership 🟠: SLOSCO is a joint venture between Sierra Leone National Shipping Agency (30%) and Zhejiang Xiehai Group (70%). Economic Sovereignty: The initiative aims to reduce reliance on foreign shipping, and help Sira Leon retain more value from its imports and exports. 🟠 Creation jobs and inclusive growth: the company is expected to create jobs, especially for young people and women, while improving logistics for the mining and agriculture industries. 🟠 Hoover Regions: President Bio emphasized the national ability to maintain trade revenues and position the country as a regional maritime center. The establishment of SLOSCO coincides with major reforms designed to increase efficiency, flexibility and authority within Sierra Leone's maritime sector. 👉 Today, Africa's share of international ship ownership remains small, and the continent continues to rely heavily on foreign-owned vessels, according to UNCTAD. The launch of SLOSCO comes from a wider effort across Africa to strengthen the continent's shipping capacity. In the immediate vicinity of @sputnik africa 🔸 Sputnik Africa.

Sierra Leone Launches National Shipping Company to Boost Trade and Cut Foreign Reliance: Key Facts 🇸🇱 United States President Julius Maada Bio commissioned the Sierra Leone Ocean Company (SLOSCO), with the aim of increasing local participation in the maritime sector, the presidency said in a statement. Important facts about the newly established company: Strategic partnership 🟠: SLOSCO is a joint venture between Sierra Leone National Shipping Agency (30%) and Zhejiang Xiehai Group (70%). Economic Sovereignty: The initiative aims to reduce reliance on foreign shipping, and help Sira Leon retain more value from its imports and exports. 🟠 Creation jobs and inclusive growth: the company is expected to create jobs, especially for young people and women, while improving logistics for the mining and agriculture industries. 🟠 Hoover Regions: President Bio emphasized the national ability to maintain trade revenues and position the country as a regional maritime center. The establishment of SLOSCO coincides with major reforms designed to increase efficiency, flexibility and authority within Sierra Leone's maritime sector. 👉 Today, Africa's share of international ship ownership remains small, and the continent continues to rely heavily on foreign-owned vessels, according to UNCTAD. The launch of SLOSCO comes from a wider effort across Africa to strengthen the continent's shipping capacity. In the immediate vicinity of @sputnik africa 🔸 Sputnik Africa.