6 June 2019

Liberia: U.S. Billionaire Investment Targets 1.5 Million Liberians

Authorities of the Liberia Water and Sewer Corporation (LWSC) and the American Venture Group (LLC) have signed a memorandum of understanding (MoU) to provide sufficient, affordable and sustainable supply of clean and safe drinking water to 1.5 million Liberians.

"The joint venture agreement will require the company to design, build, finance, install, own and operate 270 water purification systems in mainly rural communities throughout Liberia. Each unit will be powered by a mini solar system, and a phone charging outlets for community dwellers," the MoU said.

The signing ceremony was held on Saturday, June 1, 2019 at a resort in Monrovia, and witnessed by authorities of the LWSC, chief executive officer of AVG Richard Hoffman, and Rosemarie E. James, executive director of the Clar Hope Foundation.

According to the agreement, the investment portfolio will require no financial contributions from LWSC or the Liberian government.

Former NBA star Dikembe Mutumbo

The American Venture Group, LLC is owned by former National Basketball Association (NBA) star, Dikembe Mutombo.

Duannah A. Kamara, LWSC's managing director, who signed on behalf of the corporation, said the finalized MoU will provide sufficient supply of clean water to underprivileged Liberians.

Kamara said the investors are desirous of supporting the Pro-poor Agenda for Prosperity and Development (PAPD), championed by President George Weah.

The joint vendor is a simple turnkey and scalable inclusive business model that also provides positive socioeconomic benefits for communities in which they operate through hiring and training of locals for installation, operation, maintenance and service of the system.

Kamara said building capacity and resilient communities, improving health and associated healthcare cost and allowing kids to go to school, as well as gainfully employed mothers, are a few of the benefits of providing affordable clean and safe drinking water to communities.

Mr. Hoffman expressed gratitude for the signing of the MoU, which he said is intended to provide pure drinking water to both urban and rural communities.

He said the installation of the Kiosk units/community pumps throughout the country will be actualized 24 months in line with the MoU.

According to Hoffman, Mutombo is passionate about investing in the country under the leadership of President George Weah, indicating that Liberia was selected to benefit firstly, from the company's investment in Africa before reaching out to other parts of Africa.

Rosemarie E. James, executive director of the Clar Hope Foundation, expressed gratitude to LLC for the opportunity to collaborate with the LWSC in providing clean and safe drinking water to Liberians in every community.

Dikembe Mutombo is a Congolese-American retired professional basketball player. He played 18 seasons in the National Basketball Association. Outside basketball, Mutombo has become well known for his humanitarian work.


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