GIAA explores investment opportunities in Liberia

Story by Ayanda NGWANE

The Global Initiative for the Advancement of Africa (GIAA), a leading global platform dedicated to fostering partnerships and collaborations among African entrepreneurs, CEOs, international investors, NGOs, and policymakers, has recently embarked on a 4days important business delegation to Liberia.

This was disclosed in a statement signed by Dr. David James Egwu Bsc. MBA, PhD.
Co-Founder, Global initiative for the Advancement of Africa (GIAA) and Dr. Utchay Odims PhD. Co-Founder/President, Global initiative for the Advancement of Africa (GIAA).

This non-profit organisation aims to catalyse Africa’s growth through knowledge sharing, trade facilitation, innovation, and empowerment initiatives.

The delegation, comprising distinguished leaders from Nigeria, had the privilege of engaging with key members of the Liberian government, underscoring its commitment to exploring investment opportunities within the nation.

The team was warmly welcomed by Hon. Oretha Juah Bestman-Yates, Minister of Human Resources and Employee Relations, alongside Ambassador Queen Julie Endee, Liberia’s Culture Ambassador, and Queen Lovette Sade Awode, GIAA’s Liberia Coordinator.

The discussions with high-ranking officials, including Hon. Sylvester M. Grigsby, Chief of Staff at the Office of the President; Hon. Macdella Cooper, Senior Special Adviser to the President on Political Affairs; and Atty. Samuel Kofi Woods, National Security Advisor, were both productive and insightful.

Additionally, the delegates engaged with several Ministers, including Hon. J. Cole Bangalu (Minister of Youth and Sports), Hon. Gbeme Horace-Kollie (Minister of Gender, Children, and Social Protection), Hon. Garmai S. Tokpah (Deputy Minister for Children and Social Protection), Hon. Kadiatu D. Konteh-Brohiri (Deputy Minister for Cultural Affairs & Tourism).

Others are Hon. Jerolinmek Mathew Piah (Minister of Information, Cultural Affairs & Tourism), Hon. Magdalene Ellen Dagoseh (Minister for Commerce and Industry), and Hon. J. Alexander (Minister for Agriculture).

Furthermore, the delegation connected with key stakeholders in both the private sector and government-owned agencies, including Hon. James M. Strother, President of the Liberia Business Association Inc. (LIBA); Hon. Florence K. Geegbae, Managing Director of the National Housing Authority; Hon. Jeff B. Blibo, Chairman of the National Investment Commission (NIC); and Hon. Melvin Sherrif, Executive Director of NIC.

The team also had the opportunity to meet Mr. Fabian M. Lair, CEO of the National Oil Company of Liberia, Mr. Emmanuel Tarnue Azango, Vice President of Finance/Investment at NOCAL, and Mr. Amos B. Tweh, Managing Director of the Liberia Petroleum Refining Company (LPRC).

A significant advantage of investing in Liberia is its dual currency system, which utilises both the United States dollar and the local currency.

This framework simplifies transactions and mitigates risks associated with currency fluctuations, making Liberia an attractive destination for investment.

Moreover, the current administration, led by His Excellency H.E. Joseph Boakai Sr., is dedicated to ensuring that Liberia works for the benefit of its people. The government has strategically appointed young, dynamic, and intellectually astute leaders to key positions, aiming to steer Liberia back on a path to sustainable development.

The interactions revealed a strong commitment to creating a conducive business environment that fosters growth and innovation.

The team extend heartfelt gratitude to His Excellency Joseph Nyuma Boakai Sr., President of Liberia, for his invitation and support; Hon. Oretha Juah Bestman-Yates for her warm hospitality; and to all government officials who facilitated the visit.

A farewell reception, hosted by Hon. Macdella Cooper and Ambassador Julie Endee, was a fitting conclusion to the productive mission.

GIAA remains optimistic about the future of collaborations and the potential they hold for mutual growth and prosperity and is committed to galvanising the African diaspora and encouraging investment in the continent while striving to build the Africa everyone envisioned.

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