Market research in Sierra Leone
Sierra Leone is also located in a very attractive location, which gives you access to a number of extensive and well developed marketplaces. Sierra Leone’s membership in regional trade agreements grants access to 50 million people in Cote d’Ivoire to Guinea with the Mano River Union, or 400 million thanks to the Economic Community of West African States (ECOWAS).
About Sierra Leone
Sierra Leone is a West-African country which shares borders with Liberia and Guinea. The country is known for its mineral deposits, in addition to important agricultural and fishery resources.
Despite attractive opportunities for both development and investment, Sierra Leone remains quite poor. The country’s 8 million inhabitants are fairly dependent on their agricultural sector, whose output is fairly consistent and significant thanks to a rich soil and good rainfall. Despite this, and an extensive Atlantic coast, Sierra Leone cannot sustain its food consumption with local production.
Why conduct market research
Sierra Leone faces a number of challenges to promote stable growth and create a healthy business environment. Despite active efforts by the government to simplify and improve ease of doing business, it remains difficult to start up, import and export, and pay taxes. There are also problems with corruption, a lack of skilled labor, and high interest rates. Covid-19 was very impactful in Sierra Leone, to which the government responded by implementing the Quick Action Economic Response Plan. The measure was relatively successful in mitigating some of the economic impacts of the pandemic. As a result, the country’s output should return to the progression it showed before the outbreak.
Despite a few challenges associated with ease of business in Sierra Leone, the marketplace itself is full of opportunities. The country is rich in natural resources, and a great climate. These conditions make it a fantastic environment for mineral extraction and tourism. The country could greatly benefit from investment in mineral processing, which would create quality jobs, develop the industry, and generate a new foreign currency source for the government. Furthermore, the government is actively trying to improve the business environment with reforms.
Representative market data
Due to its poor infrastructure and prevalent corruption, conducting a market research project in Sierra Leone can be costly and time consuming. At Sagaci Research, we are able to provide you with the necessary tools to succeed thanks to our on the ground representatives which will help you paint an accurate picture of the whole Sierra Leone marketplace.
Here are some of our offerings:
Market research methods in Sierra Leone
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More about syndicated research in Sierra Leone
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