Freetown, SIERRA LEONE – The world’s premier marketplace for insurance and reinsurance, has forged a strategic alliance with Sherbro Alliance Partners (SAP) to champion sustainable economic growth on Sherbro Island, Bonthe District.
At the iconic Lloyd’s headquarters in London, a Memorandum of Understanding (MOU) was signed, underlining the commitment to a ground breaking initiative that places nature and renewable energy at the forefront.
With a focus on leveraging its unique convening power, Lloyd’s aims to play a pivotal role in supporting the sustainable regional growth of Sherbro Island. The partnership includes providing specialist insurance and risk expertise, with contributions from international professional services firm Aon and market insurer Tokio Marine Kiln (TMK) as strategic partners.
Sherbro Island, envisioned by SAP, is on track to metamorphose into an eco-friendly city seamlessly blending international standards with Sierra Leonean heritage. The project aspires to draw global visitors through avant-garde infrastructure and business-friendly regulations, positioning itself as a nexus for tourism, arts, culture, residency, work, investment, education, recreation, and retirement.
As SAP collaborates closely with the Government of Sierra Leone to conduct further feasibility studies, the partnership with Lloyd’s is poised to provide valuable insights into insurance needs for Sherbro Island’s renewable energy, eco-tourism, and business endeavours.
Expressing enthusiasm for the collaboration, Lloyd’s CEO, John Neal, stated, “As chair of the SMI’s Insurance Taskforce, Lloyd’s has a leading role to play in bringing innovative and regenerative projects to life around the world.”
Idris Elba, Co-founder of Sherbro Alliance Partners, emphasized the significance of Lloyd’s commitment, saying, “Lloyd’s support will fuel our growth as we work towards achieving our shared vision of a more sustainable future.”
Siaka Stevens, another Co-founder of Sherbro Alliance Partners, highlighted the importance of robust partnerships in shaping Africa’s sustainable development, ensuring cities are technologically advanced, environmentally conscious, socially inclusive, and economically vibrant. The collaboration marks a significant stride in the collective effort to make Sherbro Island a beacon for sustainable urban development. OG/8/2/2024