19 May 2014

Liberia: Encouraging Indigenous Private Sector Development

The Executive Governor of the Central Bank of Liberia (CBL) on Saturday was guest of the Federation of Road Transport Union of Liberia (FRTUL) and the Citizens Progressive Movement Saving and Credit Union (CPMSCU) in Buchanan, Grand Bassa County.

Both groups which played host to the Executive Governor, honored him for his campaign to ensuring a stronger private sector in the country and his struggle for the development of a vibrant Liberian private sector for lifting Liberians out of the valley of poverty.

During the Governor remarks at the program held in his honor, Dr. Mill Jones encouraged Liberians to sincerely build a strong private sector and that doing so does not require politics, and he doesn't see it as any good for Liberians to be only interested in government's jobs while foreign nationals in the country are extensively engaged in the business (Private) sector.

Governor Jones told 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 it would take the concerted efforts of all to lift Liberia.

Governor Jones then urged the FRTUL and CPMSCU to unite around a common goal and vision noting that with oneness of purpose they would be able to achieve success. 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.

On the CBL micro loan initiative, Dr. Jones stressed that the Central Bank of Liberia will remain a friend of the private sector as he said in his words, "We are not throwing money away but trying to invest in the future of Liberia." He further added that the CBL is working with 38 village saving associations and credit unions in Grand Bassa County and will continue to do so.

Governor Jones, moreover, encouraged those in business to network so as to be able to produce finished products for the outside market for as he said, "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."

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