Yekeson Defends Commerce Budget-MoCI Presents 2026 Performance, 2027 Priorities

MONROVIA – Budget hearings are where ministries prove their worth or lose their share of the purse. The Ministry of Commerce and Industry (MoCI) made its case on Thursday at the Executive Budget Hearings. Acting Minister Stephen M. Yekeson, Jr. reported about 24,676 registered businesses. Registration services now reach seven counties, and digitization is now underway. The ministry also cited a Youth Entrepreneurial Investment Bank seeded with about US$15 million (about L$2.7 billion). It wants resources to help Liberian firms compete regionally and globally. The presentation listed outputs but offered few measures of impact on prices or jobs. Finance Minister Augustine Kpehe Ngafuan’s panel must, experts conjecture, now weigh those claims against limited resources. HE ANALYST reports.

The Ministry of Commerce and Industry (MoCI) has formally taken part in the ongoing Executive Budget Hearings at the Ministry of Finance and Development Planning (MFDP) in Monrovia.

The ministry’s Senior Management Team (SMT), under the stewardship of Acting Commerce and Industry Minister Hon. Stephen M. Yekeson, Jr., went to the Finance Ministry on Thursday, October 8, 2026, to make the case for the institution that oversees trade and commerce in the country.

In his official opening statement, Yekeson provided an overview of the ministry’s core values and statutory mandate, followed by its 2026 performance and proposed priorities for 2027.

He told the gathering that the presentation was intended to demonstrate how resources allocated during the 2026 fiscal year were utilized, while outlining programs and projects requiring continued or additional funding in 2027.

Business Registry Expands

Among the ministry’s achievements for 2026 was the continued expansion and decentralization of the Liberia Business Registry (LBR), which reported approximately 24,676 registered businesses, with business registration services now decentralized to seven counties.

According to Yekeson, the decentralization initiative is intended to make business registration more accessible to entrepreneurs outside Monrovia, while plans are underway to extend the service to additional counties.

He also highlighted ongoing efforts to digitize the business registration process, saying the initiative will improve efficiency, transparency, data collection and access to services for businesses.

Making the case for the ministry, Yekeson highlighted key reforms, support to businesses, trade promotion, consumer protection, and industrial development.

He emphasized that commerce, trade and industry remain central to Liberia’s economic growth, noting the ministry’s responsibility to regulate trade and prices, protect consumers, facilitate private-sector development, collect and disseminate business data, and promote industrial development.

Youth Bank and Business Incubators

In support of small and medium-sized enterprises, the ministry reported providing lines of credit to businesses and initiating the Youth Entrepreneurial Investment Bank (YEIB) with seed capital of approximately US$15 million (about L$2.7 billion).

The ministry also spoke about exploring opportunities to position the initiative as a development finance institution and leverage additional resources from international development finance institutions.

The presentation also outlined progress in establishing business incubators designed to provide startups and small businesses with technical assistance in areas including accounting, bookkeeping, marketing and business management.

On trade and business reforms, the ministry highlighted the development of an online business registry, a trade information portal, a trade policy and an industrial policy as key initiatives aimed at improving Liberia’s business and investment environment.

Push for Regional Trade Gains

Yekeson also expressed the ministry’s commitment to industrial growth, including efforts to maximize opportunities at the industrial park along the Buchanan Highway and to attract light industries to Liberia.

The team further stressed the importance of Liberia taking part in and taking advantage of opportunities under the African Continental Free Trade Area (AfCFTA), the Economic Community of West African States (ECOWAS), the World Trade Organization (WTO), and the African Growth and Opportunity Act (AGOA), insisting that adequate resources are needed to enable Liberian businesses to compete in regional and international markets.

The ongoing exercise, also referred to as the Ministerial Hearings, is presided over by Finance and Development Planning Minister Augustine Kpehe Ngafuan and is meant to establish the framework for the approaching fiscal allocations.

Prior to the team’s presentation, the ministry conducted a participatory in-house review of the financial instrument under the watch of the SMT.