By Julius T. Jaesen, II
Managing Editor, Democracy Watch | editordemocracywatch2021@gmail.com
Liberia cannot build a stronger economy while its public officials encourage citizens to regard foreign investors as enemies. Elected leaders must expose misconduct and defend communities. But when accusations outrun evidence, or public denunciation substitutes for effective oversight, the consequences extend beyond the company being attacked. Workers, local suppliers and taxpayers can pay the price. Political grandstanding against investors should be discouraged because Liberia needs credible enforcement and productive investment to advance together.
The debate surrounding ArcelorMittal Liberia (AML) illustrates the stakes. Questions about concession boundaries, employment, environmental performance and community obligations deserve rigorous answers. A lawmaker who raises them performs a legitimate public duty. However, the test is whether that intervention produces verifiable findings and enforceable remedies, or merely encourages public hostility toward a company without first exhausting their legislative power to invite, call, summon, or even subpoena the company if necessary. Besides, public office carries a responsibility to distinguish allegations from proven violations.
Picture of the regional investment inflows gives Liberia reason to take that responsibility seriously. UN Trade and Development’s World Investment Report 2026 records the following annual inflows and accumulated inward investment positions. Côte d’Ivoire, Guinea and Sierra Leone share borders with Liberia; Ghana provides a wider West African benchmark.
Regional foreign direct investment comparison
| Economy | 2024 inflow | 2025 inflow | Inward FDI stock at end 2025 |
| Liberia | 472 | 500 | 9,955 |
| Côte d’Ivoire | 1,477 | 2,026 | 21,498 |
| Guinea | 1,402 | 7,763 | 15,804 |
| Sierra Leone | 122 | 177 | 2,760 |
| Ghana | 1,766 | 1,908 | 50,917 |
Source: UNCTAD, World Investment Report 2026 country fact sheets. All figures are US$ millions, rounded. Annual inflows are net FDI flows; stock measures the accumulated inward FDI position, not announced projects or annual spending.
In 2025, Côte d’Ivoire attracted about four times Liberia’s inflow, Ghana nearly four times, and Guinea more than fifteen times. Liberia’s inflow rose by 6%, yet represented only about 2.5% of West Africa’s $19.6 billion total. Its accumulated FDI stock was approximately $10 billion, compared with $21.5 billion in Côte d’Ivoire and $50.9 billion in Ghana. The only country hearby outperformed by Liberia is Sierra Leone.
These figures require perspective. Guinea’s mining expansion, including Simandou, shows how resource projects can transform economic prospects; the World Bank also stresses the need to translate that wealth into wider private sector growth and jobs. Liberia should similarly use major investments to expand local enterprise and reduce dependence on a few concessions.
Investment portfolios also differ in their composition. Guinea’s expansion is heavily linked to mining and associated infrastructure. Côte d’Ivoire’s Baleine oil and gas development illustrates its growing energy portfolio. Ghana’s investment promotion centre records projects across manufacturing, services, agriculture and construction. Liberia should pursue comparable breadth, using mining infrastructure and demand to support processing, logistics and domestic suppliers. Protecting credible investors today can help attract a more diversified investment base tomorrow.
The danger of inflammatory rhetoric is practical. Investors considering a mine, factory or processing plant must assess whether rules will remain predictable over many years. If an official treats an unresolved commercial dispute as proof that foreign businesses are unwelcome, prospective investors may anticipate arbitrary treatment, disruption or prolonged uncertainty. They can delay expansion, demand higher returns to compensate for risk, or choose another destination. Existing mines cannot simply relocate, but the next investment decision can. This is an economic risk, but not a claim that any particular statement has already caused a measurable capital loss.
AML’s scale makes disciplined oversight especially important. In its January 30, 2026 announcement, ArcelorMittal reported cumulative investment of $3.5 billion in Liberia, including a $1.8 billion expansion involving ore processing, rail, port and power infrastructure. It described plans to raise annual shipments from approximately five million to twenty million tonnes in 2026. Those company-reported figures show the scale of capital at stake; they neither establish compliance nor represent Liberia’s annual FDI inflow. Equally, planned output should not be presented as output already achieved.
Communities are entitled to ask what such investments deliver. A large capital figure cannot answer questions about wages, compensation, pollution, local procurement or unfulfilled commitments. Ignoring credible grievances can itself destabilize an investment. The strongest defence of responsible investment is therefore visible enforcement: publish obligations, verify performance, acknowledge breaches and require remedies. Predictable accountability protects citizens and gives compliant investors confidence that their competitors face the same rules.
Instead of reverting to social to rally the population against investors, lawmakers should turn concerns into a documented process. Identify the disputed contractual obligation, request the relevant records, and convene a public hearing involving the company, affected communities and responsible authorities. Where boundaries are disputed, obtain an authoritative technical assessment. Publish findings, specify corrective deadlines and follow up on compliance. Refer established violations for lawful sanctions or adjudication. A hearing that secures compensation or corrects a breach serves constituents more effectively than a public accusation left unresolved.
Public criticism remains essential, particularly when institutions fail to act. Officials need not keep citizens uninformed while investigations proceed. They should, however, explain the evidence, state what remains disputed, allow a response and avoid portraying an entire investor community as predatory. Government should apply the same standards to every concessionaire. Shielding favoured companies while attacking others undermines both public trust and fair competition.
Liberia’s leaders should be judged by the outcomes they secure: lawful operations, better jobs, stronger domestic businesses and benefits reaching host communities. Encouraging resentment without delivering remedies advances none of these goals. The public deserves officials who can challenge a powerful investor with evidence and still make Liberia a credible destination for responsible capital. Political applause is fleeting; the cost of a missed investment opportunity can last for years.
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