Sierra Leone Economic Diversification Project (SLEDP)

SLEDP, a collaboration between the Government of Sierra Leone and the World Bank, aims to enhance investment and growth in small and medium enterprises (SMEs) in non-mining sectors. This involves improving the business environment, making strategic public investments, supporting SMEs and entrepreneurs, and strengthening public and private sector capabilities. The SLEDP functions in collaboration with Creative Hub Africa to achieve some of these objectives.
Component 2 of the project focuses on promoting SME growth and entrepreneurship in high-growth sectors by addressing critical constraints such as limited access to information, inadequate infrastructure, restricted finance access, and the need to scale businesses. Specific activities like public goods investment, SME acceleration, and early-stage financing will be implemented to address these challenges.
In line with the project's goals, business incubation and acceleration programs are recognized as crucial for supporting the growth of start-ups and SMEs. Studies have shown that incubated companies have a higher survival rate and these programs help maximize the innovation potential of SMEs by facilitating connections and collaborations.
In collaboration with Sierra Leone’s Small and Medium Enterprise Development Agency (SMEDA), the project aims to work with three local Business Service Providers (BSP) focusing on six key sectors to enhance the resilience of 60 businesses in Sierra Leone. Specifically, the project aims to accelerate SMEs in the Creative and Circular Economy sectors through Creative Hub Africa. A total of 20 SMEs in these sectors will be supported across the country, with a focus on women-owned and managed businesses.