The Liberia Business Registry (LBR) celebrated a transformative milestone on Monday with the official dedication of its newly renovated office complex at Front and Nelson Streets, Monrovia. The event, attended by government officials, business leaders, and development partners, marked a pivotal step in the institution's mission to streamline business processes and boost economic growth in Liberia.
Delivering the welcome address, Patience B. Randall, Director General of the LBR, highlighted the importance of the renovations and shared insights on the registry's progress since its establishment in 2011. "Today, we gather not just to celebrate a building but to reaffirm our commitment to fostering an environment that encourages investment and supports businesses," she said.
Reflecting on the LBR's journey, Randall acknowledged the institution's challenges over the years, particularly the poor state of infrastructure and limited resources. "When we assumed office in March, the deplorable working conditions posed significant constraints on our workforce's ability to deliver timely and effective services," she explained. "However, through partnerships and collaboration, especially with the World Bank, we have achieved remarkable progress."
The US$3.5 million renovation, funded under the Liberia Investment, Finance, and Trade Project (LIFT-P), includes the installation of a 120 KVA solar energy system for uninterrupted power supply, CCTV systems for enhanced security, and upgraded ICT infrastructure to support digital operations.
Randall revealed plans to launch an online business registration platform by mid-2025, which will reduce certificate processing times to as little as 24 hours. "This platform will revolutionize the way we serve businesses in Liberia, fostering greater efficiency and transparency," she noted.
The Director General also announced recent improvements in service delivery. "Processing times for business certificates have been reduced from three months to just three days," she said. "This underscores our unwavering dedication to creating an LBR that is synonymous with excellence and efficiency."
She expressed gratitude to contractors Elite Contractor & Global Services and Bounce band Energy for their roles in the renovations. "We are thankful for the timely and professional execution of this project, which positions us to better serve our clients," Randall added.
Madam Scholastica T.N. Nimely, Acting Minister of Commerce and Industry, reaffirmed the government's commitment to improving the business climate in Liberia. "The renovated facilities and the upcoming online registration system are critical components of our vision to make the LBR a service-oriented agency that meets the needs of businesses swiftly and efficiently," she stated.
Nimely explained that the LIFT-P project, funded by the World Bank and the Government of Liberia, allocated $3.5 million to develop the LBR's capacity as a one-stop-shop for business registration. "These initiatives are designed to minimize the complexity of starting a business, ensuring that potential firms can enter the market with ease," she said.
The dedication coincided with the opening of the 2024 Micro, Small, and Medium-sized Enterprise (MSME) Conference and Trade Fair. Themed "From Vision to Implementation: Think Liberia, Buy Liberian, Build Liberia", this year's conference focuses on poverty reduction, youth innovation, and environmental sustainability. "This platform is a critical avenue for stakeholders to exchange ideas and propose reforms that strengthen Liberia's MSME sector," Nimely added.
Representing Vice President Jeremiah Koung, Chief of Staff Prince Menkalo Gbieu lauded the LBR's achievements and stressed its critical role in driving economic development. "The Liberia Business Registry is not just an institution; it is the gateway for investors and a foundation for creating opportunities for our people," he said. "We stand ready to support the LBR in achieving its goals and fostering an inclusive economic landscape."
Speaking on behalf of the business community, Majah Barry, President of the Fula Business Association and Executive Council Member of the Liberian Chamber of Commerce, commended the advancements in service delivery. "Previously, registering a business could take months, but today, we see certificates processed in just three days," Barry noted. "This progress demonstrates the LBR's readiness to support investors and foster a business-friendly environment."
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Barry also urged the government to decentralize LBR's services, making them accessible to entrepreneurs outside Monrovia. "The cost and logistical challenges of traveling to Monrovia for registration remain a barrier for many small business owners," he explained. "We encourage the LBR to expand its reach to other counties."
The ceremony concluded with a ribbon-cutting led by Chief of Staff Gbieu. "This renovation is a testament to what we can achieve through collaboration and dedication," he remarked. "We look forward to seeing the LBR continue to transform the business landscape in Liberia."
The dedication marks a significant step forward for the LBR, signaling its commitment to modernization and improved service delivery. With its upgraded facilities and ambitious plans, the LBR aims to become a cornerstone of economic growth and development in Liberia.
