MONROVIA — The Liberian government has promised sweeping business reforms, stronger investment protections and expanded opportunities for industrial development as investors and business leaders from across Africa gather in Monrovia for the 7th Biennial Prosperity Africa Conference and Liberia Investment Forum.
The conference, which opened Tuesday at the Ellen Johnson Sirleaf Ministerial Complex, is being held under the theme, “Innovation in Business Leadership and the Economics of Tomorrow.”
Co-hosted by the Liberia Chamber of Commerce and the Pan-African Chamber of Commerce and Industry, the gathering brings together representatives of several African countries, investors, development partners and policymakers to explore opportunities in manufacturing, agriculture, infrastructure, energy and regional trade.
Government Promises Investment Reforms, Industrial Development
Delivering the keynote address on behalf of President Joseph Nyuma Boakai, Acting Commerce and Industry Minister Stephen M. Yekeson Jr. assured investors that Liberia is committed to establishing a transparent, predictable, and competitive business environment.
“Liberia is open for business. Not as a slogan, but as a commitment — to be predictable, to be fair, and to be a partner you can build with for the long term,” Yekeson declared.
He emphasized that Liberia must move beyond exporting raw materials and attract investments that establish manufacturing industries, process natural resources, and create sustainable employment.
“The economics of tomorrow will not reward countries that only export raw materials. It will reward countries that add value, that move goods and money quickly and cheaply, and that make rules businesses can plan around,” he said.
Yekeson identified agriculture and agro-processing, manufacturing and mineral value addition, and digital and financial services as priority investment sectors.
He highlighted opportunities in rice milling, cassava processing, palm oil production, gold refining, iron ore processing and timber manufacturing.
The acting minister also identified the Monrovia and Buchanan special economic zones and Monrovia Industrial Park as potential destinations for industrial investment.
He disclosed that the Commerce Ministry’s 2025-2029 strategic plan prioritizes trade facilitation, business competitiveness, enterprise development and transparent market regulations.
According to him, the government is working to simplify import and export procedures, digitize business registration, strengthen contract certainty and reduce administrative barriers.
“Investors should learn of a new rule from a notice, not from an inspector,” Yekeson said.
Citing an International Monetary Fund assessment, he said Liberia’s economy is projected to grow by 5.5% in 2026, driven largely by mining, manufacturing and construction.
However, he acknowledged that economic stability has not sufficiently transformed domestic industries or expanded employment.
“The World Bank has told us — correctly — that stability is not the same as transformation,” he said.
Yekeson also urged investors to explore opportunities in electricity generation, transportation, ports and regional infrastructure.
He emphasized Liberia’s strategic position within ECOWAS and the African Continental Free Trade Area, describing the country as a potential production base for a continental market exceeding 1 billion consumers.
“Invest in production, not only trade. The greatest returns, and the greatest support from Government, will go to investments that process, manufacture, generate power and create jobs,” he declared.
Liberia Chamber Pushes Local Business Participation, Job Creation
Liberia Chamber of Commerce President O. Natty B. Davis II urged investors to establish meaningful partnerships with Liberian businesses, emphasizing that economic prosperity must translate into employment, financing and commercial opportunities.
“Prosperity means a growing business that can employ another young person. It means a farmer securing a reliable buyer, a woman entrepreneur obtaining finance to expand, and a local supplier winning a contract that allows that enterprise to invest, improve, and compete,” Davis said.
He disclosed that the Chamber is supporting local enterprises through the Liberia Investment, Finance and Trade Project and the Youth Entrepreneurship Investment Bank initiative.
According to Davis, these initiatives seek to improve supplier development, strengthen entrepreneurship and connect Liberian businesses with financing and procurement opportunities.
He also highlighted the Chamber’s participation in validating Liberia’s Draft Local Content Policy and welcomed proposed regulations intended to strengthen implementation of the Liberianization policy.
Davis emphasized that local businesses must benefit directly from major investments through supplier contracts, technology transfer and stronger participation in commercial value chains.
“To our visiting investors and business leaders, I invite you to engage directly with Liberian entrepreneurs. Listen to their ambitions, examine their proposals, and explore opportunities to build lasting partnerships,” he said.
He expressed hope that the conference would produce tangible outcomes beyond discussions.
“As co-hosts, our hope is that the value of this conference will be evident in the months ahead—in new commercial relationships, stronger enterprises, investment opportunities that move forward, and jobs created,” Davis said.
FEWACCI Calls for Concrete Investment, Regional Trade Integration
Meanwhile, Mamadou Baldé, third vice president of the Federation of West African Chambers of Commerce and Industry (FEWACCI), called for stronger regional economic integration and practical investment partnerships.
Speaking on behalf of FEWACCI President Engr. Jani Ibrahim, Baldé commended Liberia for hosting the conference, describing it as an important platform for mobilizing investment and strengthening African business cooperation.
Baldé, who also heads the West Africa Zone of the Pan-African Chamber of Commerce and Industry, urged governments to remove cross-border trade barriers, improve infrastructure and accelerate implementation of the ECOWAS Trade Liberalisation Scheme and the African Continental Free Trade Area.
He emphasized that regional economic integration must move beyond policy discussions to concrete business agreements, investment projects and measurable results.
Baldé also called for stronger support for small and medium-sized enterprises, regional value chains and intra-African trade.
He reaffirmed FEWACCI’s commitment to collaboration among governments, financial institutions and business organizations to promote investment, employment and sustainable development.