Move from Mere Corporations To Industrial Investments -Koung Tells Investors as he Launches A-Z Food Factory

MONROVIA – There are a number of companies whose names are etched in the anal of Liberia’s investment history, not only known for being the ‘Methuselah partners in progress’, for being around since ‘JJ Robert days’, but also for their stagnation if not retrogression in business and contribution to Liberia’s growth and development. As Vice President Jeremiah K. Koung dedicated a food processing factory belonging to the A-Z Corporation, he reminded all long-time investors in the country to double up and become industrial for once in their modus operandi. The Analyst’S H. Matthew Turry reports.

Liberia Vice President Jeremiah Kpan Koung has urged business enterprises in the country who have being operating for quite a long time to innovate and elevate from corporation to industry.

He said Liberian owned business, in particular, need to flourish in wholesale on the market, like the Liberia Food Processing factory, a state-of-the-art facility dedicated to producing premium quality mayonnaise within the country.

Speaking over the weekend at the inauguration of the A-Z Corporation Liberian Food Processing Factory in Gardnerville, the Liberian Vice President Koung said, “A-Z has done well. This factory is here to empower Liberian people to support the ARREST agenda.”

“We want to see more Liberian people getting jobs here, and when you do that for us, then we are happy,” VP Koung noted. “The essence of the government is to create the safe space, so that you investors can invest by expanding, which creates jobs for our people. When our people get jobs they will stop lining up at our homes.”

He encouraged all other businesspeople to move to industrial levels since the government is improving to deliver better electricity.

VP Koung expressed the hope that in the next two to three years, electricity would be far better and that more factories will come up, because one of the reasons why “we are behind in terms of production is actually poor electricity”.

For his part, Mr. Rami Merhi, Executive Director of Liberia Food Processing Inc. said the investment exceeds $12m, which only constitutes Phase I of the facility, revealing that the next phase, which will see additional investments, will include the production of tomato paste, tomato ketchup, and noodles, and seasoning and bouillon tablets. 

“As you may be aware, our affiliate (parent) company is the A-Z Corporation which has been in business in Liberia for over 50 years,” he said. “Our factory produces 1000 tons of finished products per month, with 26 employees who have been trained by European specialists in the operation and maintenance of the facility.”

Merhi said further that his company would be adding a second shift to its production line, which will create additional jobs and training for more Liberians. 

Reflecting on Liberia’s turbulent past, Mr. Rami Merhi said, “We stayed the course despite the coup d’état of 1980, the civil war, Ebola and COVID-19. This investment and other planned investments are a reflection of our confidence in the Liberian economy, and our commitment to the Liberian people who have supported our business.” 

He said the company owes its success to Liberia, and today “we are proud to share with you an enterprise that will help strengthen your government’s ARREST Policy”.

He added: “We will create jobs, train Liberians, provide downstream supply chain opportunities for SMES, and save on valuable foreign exchange through import substitution. We will stand as a shining example to other investors of our confidence in the Liberian economy and encourage others to invest in food processing and light manufacturing.”

 Mr. Rami Merhi assured government and the people of Liberia that that A-Z Corporation and Liberia Food Processing Inc., are here to stay.

“We will continue to serve the Liberian people, while we also work to serve as an exporter of Liberian produced goods to other Mano River Union countries, helping contribute to Liberia’s balance of trade,” he added. 

Liberia Commerce and Industry Minister Magdalene Ellen Dagoseh who also graced the occasion said the new food processing facility is an important step in government’s journey to building a stronger, more self-reliant, and prosperous Liberia.

“This factory should represent a machinery era, and production lines, and it should symbolize opportunity, resilience, and a bright future we are working hard to achieve,” she said. It is an investment not only in food production, but in our people, our economy, and our national pride.”

She said though Liberia’s economy continues to face challenges, it also holds tremendous potential.

“We at the Ministry of Commerce and Industry are committed to creating the right conditions for sustainable growth, and this project is a testament to that vision,” she asserted, noting that by adding value to local products, Liberia will reduce its dependency on imports, improve food security, and create jobs for Liberians.

“These investments will have a ripple effect, not only through the jobs it creates but also by supporting local farmers, transporters, retailers, and small business owners,” he also indicated, adding: “This is exactly the kind of link between industry and SMEs that we must continue to strengthen.”

To Liberian entrepreneurs and business owners, she said “this is your time. Your government is committed to creating a more enabling environment, improving infrastructure, simplifying business registration, and expanding access finance. But you must take the lead. Start small if you have to. Innovate. Grow. Be part of building our domestic industries.”

The Commerce and Industry minister said government was looking forward to exploring export opportunities for Liberian-made goods, particularly within the ECOWAS sub region and beyond.

“I commend the visionaries behind this project and call on others to follow this example, and together, we can build a Liberia that is not only self-sufficient, but flourishing,” she noted.

During the inauguration ceremony, several distinguished guests were in attendance. They included: Minister of Commerce, Hon. Magdalene E. Dagoseh; Mrs. Della Cooper, Senior Political Advisor to the President of Liberia; Ms. Salamata Diallo, Managing Director of Ecobank Liberia, Mr. Rami Merhi, Executive Director of Liberia Food Processing Inc. (LFPI) along with the technical team of the production unit.