By John Kelly Marah
Minister of Finance, Sheku Fantamadi Bangura, has hailed Parliament’s passage of the Financial Management Bill, describing the legislation as a critical step toward protecting government funds, strengthening revenue collection, and enhancing transparency in public financial management.
Speaking during parliamentary deliberations on the Contract Agreement between the Government of Sierra Leone and Blue Ribbon Solutions Sierra Leone Limited for the Financial Development Management and Operations of the Sierra Leone National Single Renewal System, the Finance Minister emphasized that the reform is fundamentally about safeguarding public resources.
“This is about protecting government money,” Minister Bangura told lawmakers, stressing that the new system is designed to ensure that public funds remain secure while improving efficiency across government financial operations.
The agreement, which was debated in Parliament on 9th June 2026 and passed into law on 11th June 2026, seeks to modernize revenue collection mechanisms and strengthen domestic revenue mobilization through the integration of advanced technology and financial management systems.
According to the Minister, the project will be implemented in phases and will consolidate existing systems across government institutions, particularly in customs administration, where revenue leakages and operational inefficiencies have long posed challenges.
Minister Bangura assured Parliament that the procurement process complied with both the Public Procurement Act and the Public-Private Partnership (PPP) Act. He noted that the agreement received the necessary approval from the President and Cabinet in accordance with legal requirements.
Describing the initiative as a strategic public-private partnership, the Minister explained that Blue Ribbon Solutions Sierra Leone Limited will provide investment, technological infrastructure, and technical expertise to improve the efficiency of government operations. He emphasized that the company’s role is to support and enhance existing government systems rather than replace them.
The agreement includes an initial investment of US$26 million, with an additional 30 percent contribution over time to support system maintenance and upgrades. A five-year review framework has been built into the arrangement to ensure continued government oversight and accountability.
Additionally, five percent of revenue generated through the system will be allocated to the National Revenue Authority (NRA) to facilitate monitoring and evaluation activities.
The contract will remain in force for an initial period of 15 years, after which Parliament will conduct a comprehensive assessment of its effectiveness and determine the way forward.
Highlighting the practical benefits of the reform, Minister Bangura pointed to ongoing challenges at the Ports Operations and Terminal Services (POTS), where manual processes often result in delays and congestion. He said the new system would streamline payments, simplify procedures, and improve the ease of doing business across the country.
The Finance Minister also called for robust public sensitization efforts, particularly among port operators and business stakeholders, to ensure a smooth transition to the new digital framework.
With Parliament’s approval of the bill, the government says it has taken a major step toward improving fiscal governance, boosting revenue generation, and ensuring that public funds remain protected through a modern and transparent financial management system.
