‘Back For Business’ -Boakai Woos US Investors, Pleads For New MCC

MONROVIA: Four months in its puberty, the Joseph Boakai-led administration is still struggling to find its bearing on the governance landscape, economically teetering on life support. Amid mounting public expectations to deliver on his campaign promises, the Liberian leader is maximizing every opportunity to find cushion and catapult. The United States-Africa Business Summit this month seems to provide the needy window, and the Unity Party standard-bearer is taking no chances. In a panel discussion at the Summit Tuesday, President Boakai implored US business people to take advantage of Liberia’s plush investment opportunity, specifically imploring the US government to grant Liberia another chance to benefit from the Millennium Challenge Compact, the MCC. The Analyst reports.

President Joseph Nyuma Boakai who is visiting the United States at the head of a huge government delegation is leaving no stone unturned in his quest to obtain meaningful support from the country’s traditional ally help him deliver both on his campaign promises to Liberians and fulfill his fiduciary presidential responsibilities.

The President left the country last weekend to, according to Executive Mansion release, “attract tangible investments and partnerships that will contribute significantly to Liberia’s economic development”.

Liberia’s participation in the US Africa Business Summit is also purposed to expand and strengthen its bilateral relations with the United States and will highlight the country as a leading destination for business in West Africa. And President Boakai has been making the necessary contacts and efforts to make a fruitful visit.

Speaking on a presidential plenary at the summit which is also celebrating 20 years of the Millennium Compact Challenge in Africa, President Boakai traced Liberia’s first admission to the compact amounting to $257 million. It was secured under the leadership of former President Ellen Johnson Sirleaf and was intended to be an instrument to boost the energy sector of the country.

President Boakai told his audience that his ascendency to the leadership of the country has opened new window of opportunities which he is seeking to improve national development and progress.

“Liberia is back for business,” he assured US businesspeople, stating that another opportunity for the Millennium Compact Corporation will greatly help him achieve his government’s flagship development agenda known as ARREST.

President Boakai, who served as Vice President under the 12-year leadership of Madam Sirleaf, told the audience that in 2015, he and the then Minister of Finance Amara Konneh travelled to the United States of America and signed on behalf of the government of Liberia for the compact valued a $257m and used for the energy sector to overcome the pressing challenges at the time.

He said at that time, Liberia was overwhelmed with power supply issue and the entire capacity of the power source was badly 28 Megawatts which “was quadrupled later to 116 MW, thus “closing the gap of our access to electricity”.

He said the impact opened a lot of business opportunities for citizens especially in Monrovia where more than 200,000 residents got connected to the electricity grid.

President Boakai, who was attending the first major international conference since his inauguration, said having gone through the first experience with the compact with significant results impacting the lives of the citizens, there was a compelling need for Liberia to be given another opportunity to solve the most critical problems hindering national development.

He said another chance to the MCC will lead to increased road connectivity, improved communications system, and better relations with neighboring countries by enhancing travel, and regional cohesion.

In his effort to convince the management of MCC about the readiness of the Liberia for another opportunity, the President presented an impressive credential of his administration and said the government is vigorously waging a total war against corruption and also ensuring that the rule of law prevails.

These are key governance issues that the MCC attaches importance to in determining beneficiaries for the Compact support.

He gave the Americans assurance when he said, “We came up the ARREST program as our development agenda, underlying our priority to agriculture, roads, rule of law, education, sanitation, and tourism.

“We are making sure Liberia will bounce back. We were able to have a peaceful election that brought us to power, which sent a message to the world that Liberia is back for business.”

President Boakai told the well-attended panel discussion on the margin of the US-Africa Business Summit that the Liberia’s road connectivity remains one of the toughest challenges plaguing the country; making travels by citizens very difficult.

He stressed that addressing Liberia’s road challenge is one of the surest solutions in solving issues of national and regional security, especially facilitating cross-border trade.

“We are determined to build more paved road, to improve our communication system, and to build relationship in the region,” he said further. “I think that our communities are poor. With good road network, with social and economic challenges tackled, we can improve trade, and the more we do that, the more secured we are.”

Other panelists sharing the podium with President Boakai were Presidents Lazarus McCarthy Chakwera of Malawi, Faure Eyadema of Togo, Joao Laurenco of Angola, Mokgweetsi Masisi of Botswana, Samuel Matekana of Lesotho and Jose Maria Neves of Cape Verde.

Information Minister Jerolinmek M. Piah who is on the President’s entourage briefly spoke to the press, expressing strong optimism that Liberia will qualify for a new compact.

“I can say here that most of those who are around the compact have confided in us that Liberia is on the path for another compact which could be up to $500 million”.