An Assessment of the Effectiveness of Corporate Governance Reforms in Sierra Leone from 2009-2024

Oludolapo O. Akinyosoye–Gbonda (Ph.D.) || Aiah John Kellie || Nyake-Joe O. Gbonda || Augustine Sessie || Alimamy Bangura

Volume: 12 Issue: 02 2026

Abstract:

In Sierra Leone, Corporate Governance (CG) is still considered to be in an embryonic stage. CG reforms have been central to post-war economic rebuilding, aiming to instill transparency, accountability, and weak management. The country’s efforts reflect a broader African pattern where weak institutions and enforcement undermine the potential benefits of governance improvements. Recent reforms, however, signal a structured attempt to change this dynamic. The government of Sierra Leone during the period under review has gained strides embarking on institutional reforms – adopting and implementing policies, codes and standards to promote CG climate taking into consideration regional and global codes and laws and best practices. The focus of this study is to assess the effectiveness of the CG reforms post-conflict era to 2024. This study principally focuses on the effectiveness of the institutional regulatory frameworks, codes and standards and the enforcement of accountability and transparency by all sectors. Data was collected on site from (92) respondents electronically using kobo collect form in four (4) regions of the country using purposive sampling. Descriptive statistical analysis techniques were employed for data analysis. Some of the major findings were: majority of the respondents are quite aware of the series of reforms undertaken by the government; regulatory frameworks have been institutionalized leading to accountability and transparency in service delivery. However, capacity, accessibility, and awareness gaps persist, particularly outside urban centers. This study recommends that the Government of Sierra Leone need to formalise a regulatory framework and financial standards that will regulate the operations of the informal sector.

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