The Inquirer (Monrovia)

Liberia: Encouraging Indigenous Private Sectors

Photo: Eric Hersman
Downtown Monrovia

Dr. J. Mills Jones; Executive Governor of the Central Bank of Liberia (CBL) said Liberians must sincerely build a strong private sector and that doing so does not require politics. The CBL Governor said it is not a good thing for Liberians to be only interested in government's jobs while foreign nationals in the country are extensively engaged in the business sector.

The Central Bank Governor who was speaking last Saturday when he was honored by the Federation of Road Transport Union of Liberia (FRTUL) and the Citizens Progressive Movement Saving and Credit Union (CPMSCU) in Buchanan, Grand Bassa County for being a campaigner to ensure a stronger private sector in the country, stressed the need for the development of a vibrant Liberian private sector as a way of lifting Liberians out of the valley of poverty.

Dr. Jones told the hundreds of citizens that gathered at the Buchanan Fairground for the honoring ceremony that one cannot buy freedom by letting others to trample on the rights of others and that we all have to work together to lift Liberia.

Governor Jones then urged the FRTUL and CPMSCU) to unite around a common will and vision noting that with unity all can work hard to succeed as a union.

He added that development is not a project but a process that comes from the collective effort of a people thus enabling them to create wealth.

One his micro loan initiative which is putting a lot of people into business, Dr. Jones said the CBL will remain a friend of the private sector saying, "We are not throwing money away but trying to invest in the future of Liberia."

He said the CBL is working with 38 village saving associations and credit unions in Grand Bassa County and will continue to do so. He also encouraged those in business to network and be able to produce finished products for the outside market.

The building of a strong Liberian private sector cannot be overlooked being a country of 167 years where the economy is seriously in the hands of foreign nationals.

We do agree with Dr. Jones on this issue because the creation of a strong Liberian Private sector cannot be achieved if Liberians especially those in authority and are policy makers would continue to politicize the issue.

There is a great need for Liberia as a country to turn 'clock-wise' the economy in the hands of its citizens if government sincerely means to accomplish its agenda for transformation least to say the creation of a Liberian middle class.

This is why efforts by the Central Bank of Liberia (CBL) and other relevant groups to empower grass-root businesses through micro-finance loans, village Saving initiatives, credit unions and others must be welcomed.

Although this may seem as a small initiative in the eyes of others, it is no secret that if such effort continues for a period of time, Liberian businesses and entrepreneurs will grow and participate in a meaningful building of a strong Liberian private sector.

It is about time that the campaign to build this much talked-about Liberian Private sector becomes the prerogative of all concerned, especially policy makers and those in authority instead of criticizing others when they are trying to take such an initiative that will lead to the creation of the Liberian middle class and create jobs for the downtrodden.

All must collectively join this campaign and stop the politicking while foreign nationals continue to build their homelands through funds generated from the Liberian soil.

Let's stop the 'Grab mentality' and act in a way that will propel our country and its economy forward.

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