Britain, United States, and Sierra Leone's Debt Crisis
Africanist Press Podcast ServicePlay episode
Show notes
In this episode, we discuss how hidden competition between British financed corporations and United States-backed companies for control of non-transparent service-related contracts and corruptly awarded critical infrastructure projects in Sierra Leone have worsened the country's foreign debt crisis. We examine the risks such developments pose to democracy and real economic propserity in the small west African nation.
We highlight how Ernest Bai Koroma and Julius Maada Bio enabled these corrupt corporate agreements in the last 15 years, and how the All Peoples Congress (APC) and Sierra Leone Peoples Party (SLPP) function as political proxies of British financed companies and United States-backed corporations exploiting the country. One such example includes the unscrupulous struggle between the Commonwealth Development Corporation (CDC) and United States Development Finance Corporation (DFC) over the multi-million dollars non-transparent Western Area Power Generation Project loan agreements involving Blue Flare (BVI), TCQ Power Ltd, CEC Africa Investments Ltd (CECA), Milele Energy, the Bank World Group, and other financial institutions. The same example applies to the Lungi airport loan arrangement with Summa Group, and the DFC's investment loan pumped into Africell.
We point out that the current political and economic crisis in Sierra Leone, including the rigged June 2023 elections and skyrocketing taxes, are directly linked to the unscrupulous competition between British companies and American financed corporations operating in the country.
Thus, the United States and Britain, as leading partners of the SLPP and APC political leaders, must ensure that their current political and economic engagements in Sierra Leone include the protection of the lives and freedoms of all Sierra Leoneans.
This episode is part of the VOICE FROM EXILE commentary series of the Africanist Press.
