By Kruah Thompson
Liberian Deputy Commerce Minister Wilfred S. Bangura has announced a groundbreaking collaboration with AfreximBank to bolster the growth and prosperity of local small and medium-sized enterprises (SMEs) in Liberia.
Mr. Bangura announced the collaboration Tuesday, 16 May 2023 at the launch of the AfreximBank Liberia Trade Show at the Ellen Johnson Ministerial Complex in Congo Town.
This strategic alliance aims to provide a substantial boost to the entrepreneurial landscape.
It seeks to foster economic empowerment and sustainable development by promoting trade within the African continent, with a specific emphasis on supporting businesses and institutions involved in trade to explore opportunities for trade financing and structuring support.
According to Bangura, the program makes the first series of road shore organizers by OakwoodGreen Africa LTD through the edges of the African Export and Import Bank.
According to Mr. Bangura, the vision carries a huge promise and responsibilities that SMEs in the country are eagerly looking forward to.
He believes that the SMEs will breathe an air of freedom because of the Roadshows.
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Because of this Roadshow, he suggested that the SMEs will be able to address some of the critical challenges they face.
Among the challenges, he cited inaccurate access to finance, access to market, and capacity development.
Mr. Bangura believes that when these challenges are appropriately addressed, it will go a long way in converting growth and moving SMEs to the rightful place that they belong as a true engine of the economy of the country.
For his part, the National Investment Commission (NIC) Chairperson Molewule Gray encouraged businesses in Liberia to engage the NIC for its support.
He stated that it is the private sector that is going to enhance economy growth in Liberia.
At the NIC, he said they just don’t promote the sector, but provide facilitation services and aftercare services for existing investors.
He thanked the AfreximBank management and encouraged Liberians to work with the bank so that they can explore opportunities and their full potential.
“Trade possesses the extraordinary ability to establish connections, bridge gaps between nations, promote economic progress, and generate opportunities.”
