The Chief Exclusive Officer of Aminata and Sons (SL) Limited, Mohammed Turay, has clarified that his company was not seeking a tax waiver but tax payment deferral for three years.
According to Mr. Turay, this will enable his company to undertake the expansion of their storage facility and expand their operations. He added that their proposals have been approved by Cabinet and they are awaiting Parliamentary ratification.
Since the company started operations in Sierra Leone in 2024, they have succeeded in eliminating petroleum products shortage and ensure products availability. โSince we entered the market, artificial scarcity of petroleum products has been curtailedโฆWe are killing the monopoly that a small cartel of petroleum importers had benefitted from at the expense of the countryโ, Mr. Turay said.
The CEO of Aminata and Sons noted that the expansion of their storage facility and improvement of supply chain management require substantial capital injection into the business.
Mr. Turay assured that the country would not lose a single cent from the proposed tax payment deferral. โAll we intend to do is to have flexibility in our operations so that we can invest more money and expand our storage facilityโ Mr Turay added.
With an expanded storage facility, CEO Turay assured that his company would be able to import Jet Fuel and HFO (Heavy Fuel Oil) in order to kill the monopoly of Conex and NP respectively.
Because of lack of an expanded storage facility, Aminata and Sons only imports Petrol and Diesel for the time being.
Aminata and Sons operates in Liberia, Sierra Leone, Guinea and they plan to start operations in The Gambia very soon.
Aminata and Sons is a Pan-African petroleum company that has been in existence for well over thirty years in Liberia. They have only traded in petroleum products.
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