Take ownership of economy

-Ghanaian expert urges Liberians

The Managing Director of Gold Finance Company based in Ghana, Kwame OforiAsomaning, has challenged Liberians to take hold of theeconomy of Liberia.

Speaking at the Monrovia City Hall recently during a one-day fund management seminar organized by the Liberia Enterprise Development Finance Company (LEDFC) Mr. Asomaning said this can effortlesslybe done through a pooled fund scheme investment.
The visiting Ghanaian financial specialist specified that the growth and development of any nation depends on the ability to create wealth through minimum contribution of people’s income to a pooled fund scheme which can be invested in major companies, adding that Liberians can emulate same here to establish Liberian companies.

He said if Liberian teachers or other professional groupings can establish pooled fund scheme that could invest in low income housing estate across the country, it will createwealth and strengthen the economy.

He explained that the United States of America and Ghana used pension benefits and pooled funds which are then invested in other sectors of their respective economies to foster growth and development, noting that private sector is the engine for growth.

Mr. Asomaning said Liberia has great potentials for investment and Liberians should not ignore the investment opportunities here, butput their little financial resources togetherto engage in major investment rather than leaving it to other nationals.

He also emphasized that Liberians should develop the culture of saving no matter how little their incomes may be, which according to him, requires sacrifice and discipline, noting that saving for your retirement apart from government pension scheme program is vital.
He said when professional bodies decide to set up a pooled fund and invest in companies such as roads construction, schools and hospitals, among others; this will help to create employment opportunities in the country.

The seminar which was held under the theme,“Creating investment culture in Liberia” brought together Liberians from every sector of the economy.

Meanwhile, the Credit Manager at the Liberian Enterprise Development Finance Company (LEDFC), William W. Koon, has also encouraged Liberians to take advantage of prevailing investment opportunitiesin the country now in order to transform their economic status in society.

Mr. Koon indicated that the fund management seminar is an essential product that the LEDFC is introducing to Liberia which is critical towards wealth creation.
He appealed to Liberians to get involved with the investment opportunities that LEDFC is providing to enhance Liberian businesses, adding that if Liberians should take charge of their economy in the near future, they must learn to invest.
The economy of Liberia is currently in the hands of foreigners, mainly Lebanese, Indians, Fulanis and other nationals who dominate trade and commerce here. Edited by Jonathan Browne