Pres. Boakai Pushes Liberia’s Economic Development at National Black Business Conference in U.S.A.
By: Sylvester Choloplay
Atlanta, Georgia, U.S.A – August 23, 2024: President Joseph Nyumah Boakai is selling the country’s economic agenda to Business Tycoons at the National Black Business Conference taking place in the United States of America. The Liberian leader has called on global black business leaders to seize investment opportunities in Liberia, stressing the nation’s readiness for foreign investments.
Speaking during his keynote address at the 124th National Black Business Conference in Atlanta, USA, on Friday, August 23, 2024, President Boakai outlined immense prospects in Liberia’s agriculture, mining, infrastructure, energy, and real estate sectors as pillars for future economic growth.
“Liberia is open for business, and we stand ready to welcome your investments. Our fertile land, untapped mineral deposits, and vast tourism potential are ripe for development,” President Boakai stated during his address to an audience of global black business leaders.
According to the Executive Mansion Press, the President highlighted Liberia’s fertile land and the urgent need for local rice production, as well as investment in cash crops such as rubber, cocoa, and coffee, which have the potential to significantly boost the country’s economic growth.
He urged black business leaders to recognize Liberia’s potential as a hub for sustainable development and invited them to take part in the country’s progress.
“There is great potential for value-added industries like steel production and mineral processing, which will maximize the economic benefits of our natural resources,” the Liberian leader added.
Beyond agriculture and mining, President Boakai stressed the critical need for infrastructure development in Liberia.
“Infrastructure is key to our economic growth, and we are actively seeking partnerships through EPC contracts to finance road construction that will improve market access and enhance the business environment,” he noted.
The President also pointed out Liberia’s significant energy gap, with only 20% of the population having access to electricity.
The Liberian Chief Executive encouraged investors to invest in renewable energy sources, particularly solar and hydro, to meet growing demand.
“We need partners ready to invest in sustainable energy solutions that will power our industries and support our people,” President Boakai said.
Real estate development, particularly affordable housing driven by urbanization, also presents major opportunities.
President Boakai further emphasized the potential for growth in Liberia’s hospitality and tourism sectors, stressing the need for more hotels and eco-tourism ventures to accommodate increasing visitors.
As Liberia modernizes its economy, President Boakai calls on black business leaders to explore investment opportunities in technology and digital infrastructure.
In closing, he urged attendees to take bold steps toward investing in Liberia’s development.
“Let us seize this moment to forge partnerships that will drive development and foster a brighter tomorrow for both Liberia and the global black business community,” President Boakai concluded.
The conference was organized by the National Business League includes key organizations such as the World Conference of Mayors, the National Black Chamber of Commerce, the National Alliance for Black Business, and Prosper Africa.
The President is being accompanied by his Foreign Minister, Sara Beysolow Nyanti, and his Minister of State Without Portfolio, Mamaka Bility, Mr. Augustine Konneh, Senior Advisor.
Other high-level officials from the Liberian government also accompanied him to the U.S.A.
The conference brought together notable figures, including Dr. Ken Harris, President/CEO of the National Business League; Johnny Ford, Founder/President of the World Conference of Mayors; Ron Busby, President of the National Black Chamber of Commerce; and Charles H. DeBow III, CEO of the National Black Chamber of Commerce.
