Sierra Leone's Passport Crisis: Corruption and Mismanagement Undermine Economic Growth
Sierra Leone's passport is currently ranked #70 among residence and citizenship by investment programs. Meanwhile, Sierra Leone's "Passport Bros" are offering passports for prices as low as $140,000.
Why is this occurring?
It is due to President Maada Bio and his associates being deeply involved in corruption, which allows kleptocracy to prosper at the expense of the citizens.
No country in the Economic Community of West African States (ECOWAS) region should be selling passports for $140,000, except Sierra Leone, where it is reported that a drug lord finances the president.
To acquire citizenship in Sierra Leone, one must make a donation of $100,000, purchase property worth $200,000, invest $1.5 million, provide $400,000 per investor, and pay $150,000 to the University of Sierra Leone.
Some non-Africans in Sierra Leone are still denied access to its heritage and business opportunities, despite many having contributed significantly more than the $140,000 fee.
In comparison, Europeans and Asians can obtain citizenship within just 90 days with residency rights throughout ECOWAS.
Since Tejan-Kabbah warned about the greed of individuals like Abass Bundu, thousands of Sierra Leonean passports have been sold to land grabbers from other countries.
Essential reforms that could support Sierra Leone in achieving sustained economic growth include fiscal consolidation and better debt management, reconsidering the role of state-owned enterprises, encouraging private sector investment, and improving education to better match skills with market needs.
These suggestions come from the latest World Bank report, yet it appears that these economists are being ignored.
Instead, artificial intelligence (AI) has valued Sierra Leone at only $140,000 of Western investment per person.
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