By: Frank P Martin
ATLANTA, GEORGIA: In a keynote address delivered on August 23, 2024, at the 124th National Black Business Conference in Atlanta, Georgia, United States, Liberian President, Joseph Nyuma Boakai, made a compelling case for investment in Liberia.
President Boakai highlighted the nation’s vast potential and extended an open invitation to the international business community, particularly black-owned businesses, to explore the rich opportunities within Liberia’s borders.
The President’s address centered on the diverse opportunities for investors to capitalize on Liberia’s abundant natural resources. With a focus on agriculture, he underscored the fertile land and favorable climate that position Liberia as a prime location for agricultural ventures, particularly in rice production.
He pointed out that despite Liberia’s suitable conditions for rice cultivation, the nation still imports a significant portion of its rice.
The President stressed the urgency of enhancing local rice production and processing, presenting it as a key area for potential investment.
Beyond rice, President Boakai emphasized the profitable opportunities in Liberia’s cash crop sectors, including rubber, cocoa, coffee, and oil palm.
He emphasized that these sectors not only contribute significantly to the nation’s agricultural output but also offer promising investment avenues for those looking to engage in Liberia’s economic growth.
President Boakai also outlined the broader scope of investment potential across various sectors in Liberia.
He reiterated the government’s dedication to creating a business-friendly environment, ensuring that investors can operate with confidence and security.
The President introduced Liberia’s A.R.R.E.S.T Agenda—an acronym that stands for Agriculture, Roads, Railways, Energy, Schools, and Tourism—as a strategic framework for driving economic growth and development.
He noted that this agenda places emphasis on critical interventions in agriculture, infrastructure, education, health, and tourism, all of which are pivotal to Liberia’s future prosperity.
In his speech, President Boakai extended a warm invitation to the attendees, encouraging them to view Liberia as an open and promising destination for investment.
He lauded the conference not only as a platform for promoting black business enterprise but also as a celebration of the enduring ties between Africa and the African Diaspora.
The President paid tribute to Booker T. Washington, recognizing his significant impact on Liberia and the broader African American experience. He pointed to the establishment of the Booker T. Washington Institute in Liberia as a lasting testament to Washington’s vision of education, economic empowerment, and self-reliance. This institution has inspired generations of Liberians to pursue education and entrepreneurial ventures.
Concluding his address, President Boakai reinforced Liberia’s position as an attractive investment destination, committed to partnering with black businesses and investors for mutual economic advancement. He emphasized the shared journey of progress and prosperity that connects the people of Africa with the African Diaspora, marking the conference as a significant moment in the ongoing effort to strengthen these bonds.
The President’s address was well-received, with attendees expressing enthusiasm for the opportunities Liberia presents and the potential for further strengthening ties across the Atlantic.
