Sierra Leone signs ground-breaking joint venture with Zhejiang Xiehai to transform national shipping agency

The Government of Sierra Leone, through the Ministry of Transport and Aviation, on Thursday, July 16, 2026, signed a joint venture agreement with Zhejiang Xiehai Group of Companies to revamp the long-dormant Sierra Leone National Shipping Agency. The signing of the memorandum of understanding was held in the Ministry’s conference room at the Youyi Building in Brookfields, Freetown, in the presence of senior government officials, SLNSA leadership and company representatives.
Officials described the deal as a historic, game-changing deal for the country’s maritime sector. Importantly, the deal does not impose any direct financial burden on the government or the people of Sierra Leone: Zhejiang Xiehai will finance the operationalisation of the SLNSA. The company has also pledged to set up a Marine Training School in Sierra Leone, which is expected to enhance skills development and local capacity in maritime professions.
Founded in 1977, SLNSA has only ever owned three vessels, none of which are seaworthy today. The joint venture gives Sierra Leone the chance to rebuild its national shipping capacity and to put assets under national ownership to sea. Government officials and diplomats said the pact was aimed at tapping the country’s untapped marine and natural resources, creating jobs, boosting foreign exchange earnings and opening long-term avenues for trade and investment.
Sierra Leone’s Ambassador to China, Dr Abu Bakarr Karim, said talks for the partnership have been in progress since 2023. He stressed that the agreement is geared towards maximising local benefits through the training of Sierra Leoneans for maritime jobs, the creation of job opportunities and long-term foreign exchange inflows into the economy.
The signing was described as a “significant milestone” in the country’s shipping history by the Minister of Transport and Aviation, Alhaji Fanday Turay. He said the deal would make Sierra Leone more competitive in the world of trade and investment. The Minister cited the fragile state of the national carrier in recent years, describing the partnership as a rebirth for the country’s global shipping aspirations. He added that SLNSA carries 40% of the country’s cargo and underlined the strategic importance of restoring its operational capacity.
Zhejiang Xiehai is among the largest shipping groups in China, the third largest in the country and has a fleet of 50 vessels and an annual turnover of about $300 million, the Minister said. He said the company was selected after a rigorous and transparent competitive bidding process. The agreement has been reviewed by the Office of the Attorney General and Minister of Justice, the National Public Procurement Authority and the Ministry of Finance and Cabinet and will be submitted to Parliament for further consideration.
Present at the signing were Mr Kwamie Yankson, Permanent Secretary in the Ministry of Transport, Mr Mark Lissa, Director General of the SLNSA, and other stakeholders who reaffirmed their support for the pact and its expected benefits for the maritime sector and the national economy.