The Sierra Leone Ports and Harbours Authority (SLPHA), through its concessionaire Freetown Terminal Limited (FTL), has transfered eight million US dollars ($8 million) to the Government of Sierra Leone (GoSL) as the government’s equity share for the fiscal year ending December 31, 2025.
The amount represents the government’s 20% entitlement to dividends declared by FTL, highlighting the port’s growing contribution to the national economy. Under the leadership of Director General Yankuba Askia Bio, the SLPHA’s financial performance has significantly improved in recent years.
The Authority remitted $4 million to the government in 2023, $7 million in 2024, and is now remitted $8 million in 2025, indicating a consistent upward trend in dividend payments.
According to reports, since 2023, the Authority has paid the government more than $11 million in concession fees over two years, indicating increased revenue generation under current management. SLPHA attributes the improved returns to a series of reforms, including the digitalisation and modernisation of the Freetown Port’s operational systems.
These measures have increased efficiency and throughput, resulting in higher revenue streams under the concession agreement with FTL. The Authority’s performance has also been recognised administratively: the Ministry of Transport and Aviation ranked SLPHA as the top-performing agency in the 2025 mid-term performance assessment.
The funds transferred to the government are intended to support national development priorities such as infrastructure expansion, maritime security, and public service delivery. In a related development, FTL is financing a $25 million rehabilitation project for berths 3, 4, 5, and 6 at the Freetown Port under its concession agreement. The berth upgrades are expected to increase operational capacity and contribute to long-term improvements in port efficiency and revenue generation.***
