Olusegun Jaji started his Sea Coach express water taxi business in 2009 and no one expected it to grow to this extent. Recognizing the need for a water taxi service for passengers traveling to and from the airport in Lungi, Jaji started with just one abandoned boat that he purchased and fixed up. From that humble beginning, he has built a multi-million dollar industry in Sierra Leone.
In recent times, Jaji has acquired another boat and deployed it to travel between Freetown and Conakry, taking advantage of the high traffic between the two cities as a result of the high price of airline tickets in Sierra Leone. Freetown-Conakry tickets were originally priced at $60, but have now been raised to $100. Let us assume that the trip lasts for less than three hours and that the boat can accommodate around 70 passengers. I will leave you to make your calculation as to how much he is earning on each journey.
Even with the challenges Sierra Leone faces, foreign businessmen still find opportunities in the country. An example of this is a Ghanaian entrepreneur who saw an opportunity to provide an alternative mode of transportation for Ghanaians and Sierra Leoneans traveling to Ghana. Starting with a small minivan that departs Freetown on the 15th of every month, this entrepreneur offers all-inclusive tickets for $200, eliminating the need for additional payments at immigration checkpoints along the way.
There are numerous Nigerians in Sierra Leone who started from nothing and have become successful in the country. There are still many opportunities to be tapped in the transportation industry. Surprisingly, no one has considered setting up a transport system between Freetown and Conakry, Conakry and Monrovia, or Freetown and Monrovia multiple times a week under the Mano River Union. Melian started something but was unable to sustain it. An article in a paper stated that there were management issues with Melian. Due to funding from the European Union, the Sierra Leone-Liberia route has improved significantly. A standard bus system, similar to those found in East Africa, would help to promote tourism and cultural ties within the Mano River Union.
However, some Sierra Leoneans are often hindered by their mindset. While locals see problems, foreigners see opportunities. Trust issues and a general aversion to risk-taking also hold back Sierra Leoneans from entrepreneurial endeavors. It would be unfair to conclude this article without mentioning those Sierra Leoneans who have contributed to this sector, such as Abbess, and Sierra Star transport company, but there is still room for more.
Despite its challenges and high inflation, Sierra Leone still offers a wide range of business opportunities. The situation in Sierra Leone is similar to that of a diamond hidden in the dirt, waiting to be discovered.
Please feel free to contact me if you would like to discuss business opportunities in further detail. Email: murtala@murtalamohamed.com