Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698837521822.pdf (Sierra Leone)
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STERRA LEoNE IUTE'PAPER .E ed fr'l Below is Ertrocl from Cobinet Minute s of lhe Srh rneefing of 2Ol9: ,tilerno.

ilo: Cp(20?,)5, SUMAIARY OF PROPOSAI Ihe Acflng Minister of F (r) opprove ,nu ,.o,'nuoo" oresented o proposor for coblner to: Sffi ,",.,H"''J"'?1""!ll,ll3;ffIT"i#i;ii:f 'Tff;3J (,,' ;:['ffi"Jy"y, rinon!.trtu?J#[f:";,",:f*;lhg?
"*tTil..J 'r:' frl*fl*ffi**,,urc#J,ffi : si#,*#,""i:1::Fx"xi:: T?.,,.rJ",ff * ?l*; rffitl+ffit:ffi r***#-,itfr#ffi*#*:^l -2- of over US$ I Billion), which will encble Government lo finonce ils infroslructure plons in q monner which does nol impoir the ongoing fiscol posilion or breoch debt ceilings which would jeopor:dise the recenlly won IMF progromme reinstotement.

The rotificoliqn is required to ensure complionce of lhe inveslmenl oclivilies in Sieno Leone wilh lhe AFC chorler ond procedures.
Foilure 10 rotify will result in AFC being unoble to fully pursue inveslmenl in siero Leone.

Cobiriel opproved the proposbl presented by the Acting Minlsler of Finonce.

JOHN SUMAILAH Secrelory to lhe Cobinef ond Heod of lhe Civil Servlce I rH OCTOBER 2019 t Tat (?32-27) 22s6tx F!r(zr2-22, 228355 E-oell: ddo@hertclsl t{ilisty of Finmcc & EcoooEic Dev.loprEor lv&tsEdslBullding Grol8c SE!
!r FREETOwl.i Sietn L.cooc GOVERIfIIEI{T OT SIERR4, I,EONE 76 ADril ZOOS Mr, Augtine Onetoruwa Presidsnt and Chief Executive Alrica Fioalce Ccrrpora ti oa 3A Osborne Road Ikoye, Lagos Nigeria Dear Mr. 0mctoruwa INSTRUMENT OFACCTPIANCE BY SIERRA LEONE OFMEMBER,SHIP IN TI{E AFRICA FINANCE CORPOXATION Further to your letter inviting Sierra Leone to become a member of th: Alrica Finaace Corporatioo, we would like to inform you that the Governmeot of Sierra Leone has decjded to formally acccpt your invitaiion of membcrship in the AIrica Finance Corporarion.
Sierra Leone formally accepts the terms of the Agreement ior the establ.lshnent of Alrican Finance Corporation dated 2grt May 200?

in accordance rvith our applicable legat and constitutional procedures.

sincerely DAVID O. CSREIW IIIMSTER, OF FINAN-CE AND ECONOIvIIC DEVELOPMENT I \ ll Ff, AF?ICI.

FI?

[A'+C= COQFOD:AIION 12h AprI 2019 Ttle Hon.


Atlo.ney G€neral & Minisler of Justie Guma Building Laminah Sankoh Skeet Freeto,trn Honourable Minister, Rs: Africa Financ,e Corporation - Presidential lnfrstn (Arp lnitrbtive Ralificalion crf Cc,nstitutive Documents We write with respect to the ratification of AFC'S constitutive documents by the Republic of Siena Leone.
As you may be aware, the Republic of Sierra Leone, by virtue of signing the 'Acceptance lnstrrmont" acceded to the Agreement for lhe Establishment of Africa Finance Corporation ('AFC") and thereby became a Member State of AFC.

I attach for your records the ?cceptance lnstrum€nf dated 7 April 2008 signed by the Minister of Finance on behalf of the Govemment of Sien" Leone which conlirms the Govemmenl's acceplance of the terms of the Agreement eslablishing the Africa Finance Corporalion.
Art'tcle 7 requires all Member Stales to take all legislative actlon under its national of the said Agre€ment lavE and all adminislElive measures, to enable AFC to eftctively tulfil its purpose and carry oul the funclions entrusted to it.

The ratification of the AFC Establishment Agreement is necessary to enable AFC to finance proiects in the Country.
Attached herewith ara the Constitutive Oocuments of AFC: (a) The Agreement for the Eslablishment of AFc; (b) The Charter of AFC, which is an appendix to the AFC Establishment Agreement: and (c) The Headquarlers Agreement between AFC and the F€d€ral Republic of Nigeria.
We write to enquire as to whethe; your Oflice is in a position to spearhead the process of Padiamentary ratification of the AFC Establishment Agreement or whether it should be chaperoned by another Ministry, as this important procedure was not completed by the last Govemment.

.

Accordingly, we kindly request for your written confirmation whother you wlll be able to spearhead or support the ratification process.

Please accept, Honourable Minister, the assurances of our highest regard.
Sincerely yours, trl-^"trg-a^^* Nana N. Eshun General Counsel Ag.

lrl' AGREEMENT }-OR THE ESTABLISHMENT OF TI{E ,,\ F-RICA I.-TN AN C I' CO R PORA'I' I ON DATED TI{E 28 ll* DAY OF l,{*l 2007 Utrd.tql 29 Novcnlb'r.
2006 AGREEMENT: of resourccs and for ac'cclerating dcYelopmenq' TEE STATDS AND INTERNATIONAL ORGANISATIONS PAR'TIES TO THE PRESENT COGNIZANT of thc faot that lack of adequate financc for inv-cstment h8s been an impcdiment to Ir"#*Lrr" a""Jopmcnt and oxpansion of foreign trade in Africa; KNOWING thc imPortanse of closer economic so-oPeration as a rneans for achieving the most "rd"I""i"tiri-,i* RE..GNIsING the sis,ificant rorcs pravcd bv hI P*l::-1i1"J,ll-ll,t!rli$i"l",llllff Iiiti"i".ii"*r"rrsniinstitutions in trade' invEstrnents and other prl REALISING thc significance of- making additionat invcstmcnt^financo available in Africa and ionducive to greater flow of inveslrnent ftrnds ino the seekinq to crcatc and fo't"' continent for incrcased infrastruoil"d"'dd;;;'"nd Jxport-oriented industrialisationi AFFIRMING thc desirabilitv of pmmoting- the htt':-iil:t Browth of the economics of African SiJ.i-""TU-".
*p""sion of external tradc of thoir countriesl COIWINCED thst the establishment ofa financial institution for-osla.lyzing industrial dcvolopmcnt in Africa and promoting fntt"st'uco'" d'*lopment t'ould serve the foregoing purPoses; EAYE AGRXED AS FOLLOWS: "onoitioi' 1 tjpd!
(cd 2, Novc bcr, 2004 Arricle 1: Establishmertt l. 'FinanceCorporation(hcreinaftcrcallcdtheCor.Polation)wltichshalloperaleinaccordanc€ There shall bc cstablishcd an intcrnstiol8] financial institution to bc knowa as thc Africa proiirio* oith" churt", *i-,r,'t " Charter).

"pp"ndcd to this Agrcem€nt (hercinafter referred to 8s th€ 2.
The charteq which may bo amended from time to time, in accordance with its provisions - J"ff J"ri* i" Icgal foice from this Agreement and shall be valid a,d opcrativc nmong all the sharehotders of thc Corpor8tion.

3.
Capitalized terms used herein, unless dcfincd in this Agreement shall have 6re resPective mcanings asoribed therelo in the Charter' Artlclc 2: Purpose The comoration is cstablished to fostor economic growth and industrial developrncnt of African countriei, cotlectively and irrdividually, and more spocifically, to: a. support rnd promots infrastructurc dcvelopment in Africa through the provision of investment fitnds; b. facilitote Aftican trade generally and cxport'oricntcd hade by Africon countries; c. contributc to tho devolopment ofthe energy and cxtractivo industrics in Africa: d. pmvidc onJcnding and rcfinanoing facilities to African fioancial institutions: and e. genenlly engage in any kind of banking and frnancial business intcodcd to promote investnents in Africa.
Ar6clc 3: Functions To fscilitato thc attainment of its purposes, the CorPoration shall perform any and all of the functioos statcd bclow: a- [rant direct loans and cxtcnd credil' guaranteed by comrnercial documents' sovcrcign i-nstruments, credit insirmcnts or by any other form ol secunry ; b. gu8rafltce transactions made by othcr reputable financial institutions; c. givo oPcn-eoded or tmnsaction-specific lincs of crcdit to other rep[table financisl institutions; d. own, hold, purchase, selt, witlrdraw' make' draw-' acctpl' cndorsc' discount and carry out 8ny oPcration t"itt' pro*i"*y notes' bills of exchanoe' option certificatcs for the securities or credit instruments in any mcmbcr ecouisition of shares and ";;-;i'h"; ot .oun,ry opproved by thc Board of Directors; c. act as an international financial sgenq f. provido equity financing on such terns as may bc approvcd by the Boad ofDirectors; "oin,.y 2 Ulr&rcd 29 Nov.rnbcr, 2!06 g. provido technical assistsrce for the prcparatiorL financing and execution of developmont projects and programmes, including the formulation of specific project proposalr; h. mcot rcqucsb fum African Countries to assist them in the coordination of their dcvclopmcnt polioies and plsns with a view to achicvinS bener utilization of their r*ourcos, making thcir cconomies more complementary, and promoting the orderly expansion oftheir foreign hadg and in particular, intrs-rcgional tade; i. j. co-operate, in such manner as thc Corporation may deem appropriate, within the terms' of this
 Agreoment, with the United Nations, its organs and subsidiary bodies, and with othcr public and private intemational organisations and othor internatioflal institutions, as wcll as national entities whethcr public or private, whioh aro conccrncd with the investrncnt of developmcnt fi.rnds in Afria0, 6nd to inter€st such institutions and entitics in new opportunities for investmcnt and assistanoe; and generally carry out any kind ofbanking, sccurities and finanoial operations.
2 Without projudice to the forcgoing provisions of this Articlc, thc Corporation shall hsve the poww to oarry out the following fimctions in the tcnitory of Mcrnbcr Statcs: a. carry on all forms of banking business and financial services auhorized under this Aglcmcng b. purchasg hold and disposc ofnational cunencies; c. purchasg hold and disposc of convcrtible currenoies, seoutities, bills of exchange aod nogotiable instument$ and transfer thc samc to, from or within the territory of any Mcmber State; d. opcn mfitain and operate accounts in national cuncncics in the territories of the Mombcr States; the tcrritories of tho Mombor statcs; e, opeq maintain and operate convertible currEncy accou s in the tarritorics and outridc ' f. raise ftnds and make loans in convertible cunsncies; ond g. carry out sny operation authorized undctthis Agreement' 3.
Thc Corporation shall also undertake suoh ottrcr activitias and provide such othcr seryices as arc inoidontal to the foregoin& and which may advance its purposc.

Article 4: Legal Stltu!

I The Corporatiot shall bo deomed a lcgally constituted body corporate under the laws ofeach Member Stste.
2. ln cash Momber State, the CorPoration shall cnjoy the most extensive legal capacity aocorded to legal persons under the law, Partioularly ths capsoity to: a. instituto snd be 8 party b aoyjudicial, legal or administrativc proceedings; J Upddcd 29 NoYq bc', 2006 b, cnter into eontmcts; a. acquirc and dispose of property whcthcr movabte or immovable; d. take such stEps and do all such things as msy appear nocessary or desirable to Pmtoot its inGrcstsl and e. tako suoh stcps and do all such things as are incidsntal.or conduoivs to thc attainment -.
purpooe, tho exerciie of lts powers and ttrc conduct of its business' ; l" "bj*o;"d '' 3.EaohMemberstateshall,immediatolyuponbecomingasiSnatory'doallsuch-0ringsand t k"'"ll;;;ary legislative and administrative aotioni requirad to securc thc cffcctivencss of this Article within is tenitory' 4.

Thc Corporation shallpossess international lcgal pcrsonality' 5, Thc Corporation shall not make or guanotee any loanor do or.
omit to do any act or thing -' tr,* *rli r. any way pro;uaico, Iiili otn"a ot itt'erwisc alter ib purposo or fimctions or in any way suggest * afiiliation wifl any politioal cause' Artlcle 5: MembersbiP l. Membenhip ofdtc CorPorEtion shallbc opon to: ' a. independont Atican states, represcntcd by their respoctivs central banks; b. Atican rcglonal and sutsreglonal financial institutionsl c. African public and Private baoks, financial institutions and priveta invastorsl and ' d. iatemational Privatc invostors 2, Thcconditions governing oligibility to membershiP shalt bc dctcrmined by the General Meeting of Shareholders oftbc Corporation' 3.
Mcmbership of ttre CorPoration shall be acquired upon subscribing to Src Shares of thc Corooration in accordance *iir th" p'o'ision" of this Agreemenr All Shareholdcrs of the ;:'#;ffi ;i"Iffi;;rL;lht, dgr""rn"nt either by affixing thcir sign*ures thcfeto or th; Dcpository i rotter or acceptance or tlre ilff#ffiffiffifi;i;;F;"'i;t "; provisions of this Agcement 4.

A Member State sball subscribe for Shares in the Corporation througb its central bank and '' ffi;.
;;;;;"n*r u-t ;;;;iil;; ;i"d"c to diis Agrccment includins membershlP and subscription una tfr" tfi"*ur"Li of rigttt o6"h* to membcrshiP and thc performance oittrc obligations ofSharcholders sct forth in tris Agrc'oment' 5.
Any African sate or irbmaional organ'sation which, has not signed this Aercelcnl'bcfol rhc dste on which it comes i"t" r"r*lr,.tt a-s a condition preccdont to membership adhcrc to *ith the Provisional Depository or dris Agreement by aopo.iting;;-i;;*tnioi "**ttion tho DePosltory' Artlcle 6: Eailquarters and Bnnch Offices Thc permanent headquarters ofthc Corporation shall be in Lagos' Nigcria 1 4 UDd6rcd 29 Novlrnbs.

2006 2.
2006 2.

Ths Corporation may, in the discharge of is objcctives as set out in this Agrsement' eshblish -' t.tn"t"i ot.presentative offices in'other Metbcr Sutcs sclected by thc Board of Directors' - 3.TheGovgmmentofNigeriBshall,withinninetydaysof.notificationofitsselectionasthe Agreement wirh the.

Corporation, and take sll ffi -county, in6 " i""aqt "rtrs necessary mcasurcs to render tho HeadquarteN Agreement etlectlve' "nt", 4.
A Momber State in whosc territory a branch or r€pr€sentative ' office is located shall as soon as iracticafte after notincrtion oi'its seleotion in tiat regard, conclude an agtement with the C"'rpa*i"" similsr to thc Headqusrtcrs Agreement roforred to above' 5.

Eaoh Momber Stote shalt designale the appropriatc ltity.
Yi+ which thc Corporation may -' commrnlcate in connection wiih any mstter arising under this Agrccmcnt "" "*s 6, lhe working language of tre Corporation shall be English and or such othcr languagc as Sre General Meeting maY Prcscribc, Article 7: Immunities, Eremptions' Privlleges, Fscttldes and Concesslons EaohMomberstatsshatltakcalllegislativoactionundcribndionallawandalladministsative ;;r*;ir-;;ary, iii"liiJfl* l"t rrt a t6 ir fo dli.
.id, "".i ;;ito;'il; tt""., immunities, ",t;;d""q ;;ti p.omptty inro-#ti r G#il;d to onable ihc Corpor*ion to cffcctivcly tulfil its purpose and carry out Mcmber Srate_shali accord to the CorPomtion, in its privileges' faciliti€s and conccssions sc* forth in this the specific action it has hkcn for this -i<irporrt-on'or purpose.
where- legal "*i"'i t"v'u" browht against thc Corporation in Arficle 8: Lcgal Process Thc Corporation shall enjoy immunity fiom cvery form of legol action or process excoPt in resPect court of ;iil;#; compctcnt jurisdiction in the *"itoty oiUl" state iterJthe hcadquades of thc Corporation is situated or in which the Cotpot"tti'ttut u rcpresentative or branch officc or a subsidiary' or has s1 nslice sf oroccss or in which it has appointed an agent for t t prrpot"'oi u""upiiog ,"tn" * ft* it'"'iiso agreed to be sued' No such action agoinst thc issued sesurities or guarante€d Corporation shalt be brougtrt bY; a. a Member State; b. a Sharehotder or a former Shareholder of the Corporation or persons acting for or deriving -' ""witt -any ifuir* n'o* o Shareholder or a former Sharcholder; or c. any natural or IGgBt persons in respect of: i. transactions govemcd by arbih"tioo agrcementsi ii.
matters pcnding bcforc an arbihal tribunal; and il i, Personncl matleIs' Artlcle 9: Immunlty of Property lnd Assets I Tho property and assets of the Corporation wherover located ond by whomsoever held shall be immune from: 5 Upd .d 29 Navr.rnbcr, 2006 a, searohr roquisitioL exproPriation, confiscation, nationalization 8nd 8ll o$er forms of "' t"i^ri, t"ii"g or fbreclosire by executive or legislativc action; and b.soizure,sttEchmentorexecutionbeforethedetiveryoffinaljudg.rncotorawsldagainst thc .CorPoration ' 2.
For thc ourDosc of this Artiolc and Artiole 10 of this Agreement' the term 'propcrty and " ,i"riin"rua.

property and asseteowncd or held by the corporation ;J;';fffc"*;ioi; anJicposits una'tnds entrusted to thc corPoration in tre ordinary coursc of business' Artlcle l0: trreedom of Propcrty, Assets anit Operations from Restriction 1.
To the odent nccessary to imPlement the PUrPose of-thc Corporation and carry out its " iunJionr, cach Mcmboi State sttatt waivs and irnanoial or other regulatory rutrictions that ara likely to hindcr in any manncr tho smootn functioning ofthe Corporation or impair its oPorations' -refnin frol imnosine, "g:1ill]Y* 2.
To lhis end, the Corporation, its propcrty, osscE, op€rations and activities shall be frce from -' ,..rd*iora, *gutati'onr, supewisloti or'conuols, moratoria and other lcgisldive executfue' and monetary rastictions of any naturc' "a*inistuii"u,-nr*t Articlo 11: ImmunitY of Archives Ilre archives of thc Corporation and, in general, all documenE telonging to, 9l lcld Yy t: tiriiiiii,irrr"fl u; i"rrli"ur" *rt"*r.i 6.ot"4'u*.
"pt that the.immunitv provided for in this Article shall aot odrnd to docum;r"qo-ir"a o'u" proauced.in drc course ofjudicial or arbitral i;';i"h the corporarion is a party or proceedings arising out of transactions fiffi;il ooncluded bY tlre Corporation.

Article 12: PrMIege for Communicationr ofricialcommunicationsoftheCorporationshallbeaccondedbycachMcmberStatcthesame t# li-.

"*rd, to th" official communications of intcmational ;;;;;;;;;roL.ro organizations.
Ardcte 13: Pcrsonal Immunities, PrMleges and Exemptions l. All RcPresentatives, the Chief Exocutivc Offioer' Dircctors' officers and employces of thc " iitp"-,Li"" *a *nrutt*t" a. shall bB immune from legal process with rcsPcct to aots performed by them in their performing missions for the Corporation: "na "*pcrts offioial caPacitY; b. shalt bc aocorded the same immunities frorn immigration rcstriotions and alien -' lgioJi"" ,"qui'ot"ntt, ona, not being local nationals' shall be accorded thc samc -ouiigations and, the same facilities as rcgards immunities fi"t '";;;;i';;i* cach M-ember State to represeotativcs' exchange regulatio,,t, *'"'""t"JJ:uy rank of othcr states or internstional offioials anrl .,ptoyui-' "i ""'p"'f'[ organ izations; and 6 Updatcd 29 Novqrrb.I, 2006 c, wherc thoy ate not resident nationals, shall be grantod the same teatment in resPcct of " #;;il;;'f*ilhi; * ;;;-',"d bv M"'bcistatcs to rePresentativss' officials and **parsble rsnk of other states or intcrnational organizations' 2' Thc ChicfExcoutive officar, Directon, offtcers and employccs ofthe corPoration: "rp]"V.it "f a. shsll bc immunc fiom porsonal ar€st or detention!
and b. shall be exempt from any form of direct or indirecr taxation on salaries' €moluments' indemnitias and compensation paid by thc CorPoration' 'pon 'rt"ri Pirectors oi irr" ct'ier px""utive offtcer or any Dir€ctor of ths corporation' 'intcrests of the Corporation.
ln similar shall have the right and dury Arficte l4: Waiver of Immunitics lnd PrMleges Thc immunities and privileges provided in this Agreoment arc grantd in the intsrrst of dre su;h conditions as the Board of Comoration and mav onlv u" *"i*"J, i ;th ;;;i;J alt*i'i' in c"t*s *ttiT such a waiver woutd noq in ib ;##-"fii: iih.t ii"" opinion, prejudice th" int".
",s of ti"-6itpo'#on it't Ctti"f S*"""ti'c Officcr of thc Coporation consulhnt or shall have the right urd th" drry i;;il;A; immunity of any ofiicer, "*?lryt' exDertofdrocorporstionincssss*r'"*,i"t,l'opinion,theimmun.itywouldimpededlccourseot justico and can bs waived *ith# p.i:"ai* tl-'flrc circumsbnccs and undcr rhe ,".
"';;"'dliri;;ahe Board of ;ffi;#;;rtt Articlc 15: EremPtion from Tuation l. The CorPordion, iG ProPcrlr, assets' income' operations and transactions shall be excmpt and its receiving fiscal and'Paying from all raxation agents shall be exempt tom atry Ji g"i" *ii&"s p tt" Payment' withholding or collcction of any tax or duty out ofrunJs lwnel'ty, or ofteriise appertaining to' the Corporation' 2.
Without preiudice to the generality of the provisions of poraornnh T of this Article' each Membcr Statc shdl tske J;"#?

; il#-tt "i** 1'k 9?

of 't: """* securities" and corooration, its capital ..""rro iilest, commrssions' r1s.

nrcnt: sains' Plo1.
"u: :: ilJii;;il;;;;k#;;; realization and other i"**",-';;hr; and moneys of any tirid' aocruing' apPertainlng or *;'"" sholi be e'\emPt from all forms of taxcs' duties' oavable to the corporation iI;;il stamp dutv and othcr fiIffi;,'ffis]aI;'itp"*t documcnta$/ toxes, horetorore levied or hereaftor imposod in its territory' tr anv kind whatsoever' .including "no ""to'i'at"tt]"iilE;;i'd""' oriaends, loans, crcdit+ guarant€ p-p"ttv *a €s, -*i 3, Thc provisions of poragraphs 1 and 2 ofthis Articlc shatl be applicd whhout prejudice to thc right of the M"mucr states to t"lx tttt]t retiotntt io rc manner each Member State deems aPProPrlate.
Ardcle 16: Fiscal Exemptions, Financial facilittes, Priviteges an<t Conceisions 1.

The Corporation shall be accordcd by cac!- Mc.mbe1.S:ate a status not less favourable than 8ll fisc'l.
exemPtions, financial facilitics, that of a non-residur, "o.iiJ"", orivileccs and conc6"i""t';;;;;; ;';t"'*tion"[otguni*tions' banking establishmerrts and "njoy hnanoi-al institutions by the Member States' ,ro ,t'nlt 7 Upd'l€J 29 NoYtmbc., 2006 2. without prcjudicc to the goncrality of tre provisions of.Article 12 end paragraph I of this Article, tire Lorporation miy frcoly and without any rcstiction, but to the extent necessary to implement its purpose carry out ils fimctions, 8s oontaincd in Altiole 3 of this Agl€sment' Artide t7; Supplemcrtary AgreerDcnb EsCb MCmbef state m8y Enter lnto a supplemcntary agrcemcnt with thc corporation to tho cxtont ne.ossary to attain tho putPose of this Agr€ement Artlcte 18: InterPretsflon and Settlemeut ofDhPutcs l.ThhAgrccmcntshallbointerprctedindrelightofisprimarypurposeofenablingthe Corpori'tion to flrlly and efficiently dischargc its firnctions and ftlfil its purpose' 2.
Any dispute amorg the Prrties to this Agrecmcnt or.betwccn - !o l;; ;d;"ni ,"Erroi,ig the interpretatlon or applicarion of any of,thc proyisions of_this *V *pplelmcncry agreoment shall-6c.submitted to the General Mccting of ho eg*fi"it Sh-aroholdcrs ofthe Corporation whoso decision shall be ftnal' Corporation ang I pa'ry- -the "i -' 3'InthecslcofadisputcbotweenthoCorporationandaMemberStatewhoh83c€ssedtob€a it rr.t otaer of tha Corporation, or whose nationals hrve ceased to be Sharcholders of the Co-oIztion.
or a disputr bctwicn the Corporation and a party to this Agrcoment u-pon-the dr" oicrarions of the corPoratiou, such disputc shall be refcnad for ftnal ;;;;til;i a*i.ioo to a tribunal consisting of tllre'e a$iffiorq ono arbitrator sclcctcd by tte c.-".ti"*thesecondubitrator-bythePartytothedispute,andthcCorporation-and.tho "ii t. rli"-a6]irt"1-rral lointry appoint to 6ird ubitrator.
U within a period of sixtv (60) o:rarui-u"tion eitl, pady h8s not appointed an arbi6ator, or if within il;;i;ili;"t; src appointrncnt of the two srbikators, urc urira artitrator has not been i;i',ry €ltuyt; rpp,i'f"[d, tnJ t.ia arbdior shall be appointod by the Socr€tary'Generat of the Intomational iu:nt* Oi the Settlement of Inveshnint Dispurcs, at fie rcquest gf :$ut p'P:..fr' p.Jr.
oi ,rU,i*tion shall be fixed by the irUit ug", but thc third arbitrator shall havo i.,if oo*u, to scftle all questions of pro""lrr" where the artitrators are in disagrccmcnt_with -Ai,i*J ,"naorda by the majoriu of tte arbitrators shall be final and ;.ili.il;;.
binding on thc Corporation and the party to the dispute' Artidc 19: Entry iDto Force l. This Agreement shall be open for signaturs on bahalf of the contracting parties and shall be subject-to r*ification, acccPtsncc or aPProval' 2, The prcssnt Agreement shall enter into forcc provisionatly on thc day when at leost two -' t"i"*iu, Statcs- shall have signed this Agrecment; and rwo.irstrumcnts of acc'Ptanco or afproval shall have bsen dsPositod with the Provisional Depository' 3, This Agreemcnt shall t8kc effeot definitively for eaoh oontractiog party on the dat!
ofdcPosit -' ;ii; fit*Inent of ratification, acccptan;, appoval or occession in accordance with its constitutioml or otlrer agPlicable statutory prooodurts' 8 t Updarcd 29 NoYcthct, 2006 Article 20: Depository 1.

Instrumonts of ratifioation, 8ooeptanoe' approval or accession shall bc deposired with thc Provisional DePository.
2, The Provisional Dcposit'0ry shsll rcgister this ACr€llnert with the Sccreariat of the United -' N;;fi ; ;ora"no witn Artiol; 102 of tri Charer of the United Nstions and fte Ui tf'" Ceneral Asscmbly of tho Unitcd Nations and shall rcculations thercunder ha-nsmit ocrtified copios ofthis Agreemcnt to all corhacting partios' "oopt"a- 1.

UDon commenccmort of oporstions of the Corporation, the Provisional Dcpository.
shall ' #;fi#[};',ht; is""r""t and alt reiovant instrumen* and documents in h'u p"tr*tl" t" Ot Sccretary oidrc Corporation who shall then act as the Depository' Article 2tr: Bstabtishmcnt of the Corporotiou As soon as this Agracmcnt comes into forcc pur.8Ynl-to-4rticle 19' the Corpoation shall be with thc pmvisions of Article 4l of t}lB chort€r i, "st"btith"d ""*.dance Done ln NB.rs{ English language tnis-]$ aey or IVl zql zo07 in a single coPy in tbe For the FedEral R:,pubtic of Nigeria For the Republic of The Gambia For the RePublic of Ghana 9 Updra.t 29 N0s6a,,2006 Ardc.le 20: Depodtory l. Instntueflts_of ratificatio4 acceptsrcq approral or acccssion shall be depositei, widr the Provi:ional Dcpository, 2.
-Thc Provisional Depository shall_rcgister this Ageemult ryith the secretadat ofthc united "i't" urft"a N"dil-;d, i; .by thc Genera.r *r"rory oi G" u"rtcd Nations and shsrt -p;L."' Nations in accordance witt, Articl; 102 of thi CI"* rpgurations rbercunda sdoored traosurit certiied copies.of ihis Agreenrcnt ro ,lf .on-t 3, Upoo comrncuccrnant.
of operatiorc of thc -Corporation, ttr provisional Deposhory eball rr"o,,it the t'd_of thls Agr'cEcnt ad aI rErewnt instsl,,nolb ,rd ddr,"o6'in his po:scssion b tb Secretary of 6e Corpordion who sha.llhengJas tte p"pqhry.
- -- -- ""tiic .t Adcfe 21r Establ&bncrt of flc Corporsflon t :fg .r_ t i" Agrceinant oomcs into force- pursuant to establlshEd la accordarEe Mtb the provisiors of Article 4t .Article 19, tlic Corporation shall be -" "ftL"'aiil;i Done ia Abujr ttts 286 day ofltday 2007|a e dugle.copy ir tLe English lauglage.

\, t For the Federa[ Republic of Mgeria For tre Republic of The Gambia For &e Republic of Ghana .
+'t' For ttre Republi c ofGuinea Bissau f, _-' 9 :;:1 gl I i I I I I I I I t I GOVERNMENT OF SIERRA LEONE OFFICE OF THE ATTORNEY.GENERAL & MINISTER OF JUSTICE 3d Floor, Guma Bullding, Lamina Sankoh Street, Freetown, Sierra Leone REF: UMOFIL Hon.
Jacob Jusu Saffa Minister of Finance Treasury Building George Street Freetown, Dear Colleague, 176 September,20lg REO SIERRA LEONE OF MEMBERSHIP IN NCTJRRENCE ON INSTRUMENT OF ACCEPTANCE BY RATION, AFRICA FINANCE CO I acknowledge receipt of your request forwarding an Instrument of AccePtance by Sierra Leone of Membership in thc Africa Finance Corporation for my review and concurrence.
2. consideration and further action are as follows: ' Having rcvicwed thc said document, my comments and observations for your A.

The Government of Sierra Leone entered into a Memorandum of Understanding between Africa Financc Corporation (AFC) dated the 24h day of February, 2019; through the Ministry of Planning and Economic Development.

B.
B.

We would likc you to notc and have consultation with the Govemor of the Bank of Siena Leone regarding thc payment of the sum of $ 2,000,000.00 (Two Million US Dollars) as membership fees, C. That there has been an email from the acting General Counsel Nana N. Eshun for Africa Finance Corporation confirming that no fees are payable to AIC in respect of the ratification of AFC's Constitutional Documents by the Republic of Sierra Leone.
That said it is my considered opinion that such waiver of fees has to be donc by resolution of the AFC board of directors and not by the acting General Counsel.

F ffinn T,i:TfrJl;il["'"ff1J,?

*r:., to rhe acceptance by sierra Leone or Grateful for your continucd cooperation.

Yours Sincerely, rnitiailed 25. .

Dr. priscilla Schwartz anomey-General & Minister of Justice I I t l -----