Leone Oil Company (LEONCO) not only stands as a shining towering example of brilliant Sierra Leonean entrepreneurship but also as a testimony that given the enabling climate, Sierra Leonean owned companies can excel.
Under the astute leadership of Ibrahim Durosime Cole, LEONECO has in the past three years opened several state-of-the-art fuel stations across the capital city, including the one opened at Pultney Street/Wallace Johnson Street junction in April 2019.
Mr. Cole reports that LEONCE is on the verge of expanding its operations into the provinces with the opening of a string of new outlets.
Sierra Leone’s only 100% indigenous oil company, Leone Oil Leone Oil was established on December 7, 1994. It started business with the opening of their first filling station and office at Africanus Road, Kissy Old Road. Before that, the company did business through its retailers.
Leonco was born out of the desire by its first shareholders to see Sierra Leoneans owning their own company in a market that was dominated wholly by foreign owned firms.
It started with 60% of its shares bought by 35 Sierra Leoneans who had a vision of deepening local content in oil commerce.
Today, as the second largest oil marketing company in Sierra Leone with one hundred percent of its shares Sierra Leonean owned, LEONCO boasts of capital assets worth millions of dollars and is a dominant player in the country’s oil marketing industry.
LEONCO as part of its corporate social responsibility has complemented the efforts of President Julius Maada Bio and his government by making donations to help in the prevention and spread of coronavirus in Sierra Leone.
Besides donating face masks and veronica buckets to Quarry and Texaco Communities respectively in the east end of Freetown, LEONCO was one of the first private sector companies Le750, 000, 000 to the Emergency Operation Centre (EOC), Cockeril, Wilkinson Road in Freetown in order to boost the fight against the disease in the country.