The Republic of Sierra Leone

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+232 22 222 211

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Mon - Fri 8:30 - 17:00

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Overview

The Ministry of Finance and Economic Development is a Key arm of the Government of Sierra Leone mandated to to formulate and implement sound economic policies and public financial management, ensure efficient allocation of public resources to promote stable economic growth and development in the context of a stable macroeconomic environment. A robust, effective and efficient Ministry of Finance and Economic Development with demonstrable capacity to efficiently manage public resources, ensure stable economic environment and attain the highest rate of economic transformation and poverty reduction worthy of emulation by other developing economies.

Mandate

The Ministry exercises its mandate in accordance with the principles of responsible financial management in order to ensure a prudent, efficient, effective and transparent use of public funds and is guided by the following principles of responsible financial management:

Formulate and implement fiscal policies to achieve macroeconomic stability;
  1. Achieve and maintain prudent levels of outstanding debt of the general government so as not to impose an inequitable burden on future generations and manage prudently the fiscal risks faced by Sierra Leone;

  2. Achieve and maintain an appropriate balance between revenues and expenditures of general government;

  3. Manage extractive industries revenues in accordance with Part VI in order to contribute to transformational development and the fiscal responsibility principles specified in this section; and

  4. Provide timely, reliable, and adequate information to the public on fiscal objectives, policies, data, and risks to ensure transparency in the budgetary and financial management of the general government and public enterprises.


Vision

The Ministry’s vision is a robust, effective and efficient Ministry of Finance with demonstrable capacity to efficiently manage public resources, ensure stable economic environment and attain the highest rate of economic transformation and poverty reduction worthy of emulation by other developing economies

 
Mission

To formulate sound economic policies, maximize revenue mobilization; ensure efficient allocation and accountability of public resources to achieve sustainable economic growth and development in the context of a stable macroeconomic environment.

 
Core Values

To fulfil its mandate, pursue the vision and accomplish the mission, MoF will be guided by the following core values:
 
Table 1. Core Values of the Ministry of Finance

Cores

Attributes

Professionalism

We consistently demonstrate competence, knowledge, resourcefulness, quality, cooperation and a positive attitude in providing our professional services.

Result oriented

We embrace a goal-oriented culture that focuses on outcomes and drives accountability and growth.

Efficiency and effectiveness

We continuously seek effective and efficient ways in public financial management.

Accountability

We are responsible for all of our actions and we are aware of consequences when duties and commitment are not met.

Transparency

We disclose how public services are managed together with the cost and performance of specific services which are open to public scrutiny in all actions taken in public office.

Teamwork

We create effective working relationships with team members by treating others fairly, maintaining an approachable atmosphere, sustaining open and honest two-way communication, and involving others in decision-making processes when appropriate.

Integrity

We conduct business honestly and ethically, expect and exemplify trust, respect, fairness and high character.

Innovativeness

We are driven by continuous improvement and unique cutting-edge concepts that optimize results by working better and smarter.

About MOFED

The Ministry of Finance and Economic Development is a Key arm of the Government of Sierra Leone mandated to to formulate and implement sound economic policies and public financial management

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