5 June 2019

Liberia: U.S. Investor in Liberia

Photo: Pixabay
(File photo).

An American retired professional basketball player and billionaire, Dikembe Mutombo, has signed a memorandum of understanding (MoU) with the Liberia Water and Sewer Corporation (LWSC) for the establishment of a joint venture water production factory in Liberia.

The American Venture Group, LLC, a duly registered and incorporated company under the laws of Delaware, USA, and Quest Water Solutions, Inc., also a duly registered and incorporated company under the laws of Nevada, USA, and the LWSC signed the MoU.

The Executive Director of Clar Foundation, Rosemarie E. James, and LWSC Managing Director Duanah A. Kamara, both represented the Government of Liberia, while the American Venture Group and Quest Water Solutions were represented by Richard Hoffman, CEO of the American Venture Group.

Speaking at the signing ceremony recently in Paynesville near Monrovia, Richard Hoffman said the collaboration will provide sufficient amount of purified water for households in the country.

"This investment will provide sustainable supply of clean, safe drinking water for all and we are here for the provision of sufficient, affordable water to underserved populations in Liberia," Hoffman said.

According to him, the agreement requires the companies to design, build, finance, install and operate 270 water purification and distribution systems in rural communities across Liberia.

He said the company intends to supply clean and purified water to approximately 1 million residents in Liberia at an affordable price.

For his part, LWSC Managing Director Duanah Kamara said each unit of the system will be powered by a mini solar system and will also have phone charging outlets to help community members in charging their phones.

Kamara said the investment portfolio will require no financial contributions from the LWSC or the Liberian Government. He noted that the investment will also support the government's Pro-Poor Agenda for Prosperity and Development (PADP) by creating jobs and providing clean and safe drinking water for thousands of Liberians at affordable price.

He pointed out that as part of its corporate social responsibilities, the company is expected to build the capacities of its host communities, provide healthcare services, build schools and provide employment, among others.

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