By Laurina B Lormia
(Cub-Reporter)
The International Finance Corporation (IFC) World Bank Group and Afropa-Aqualife Liberty Investment, have partnered to boost sustainable bottled water production in Liberia and Sierra Leone.
The program, which was held Friday, March 8, 2024, at the Aqualife Water Company at Red Hill Field, Virginia, was graced by the Vice president of Liberia, Jeremiah Koung; Speaker, J. Fonati Koffa; several high ranking government officials, as well as both local and international guests.
During the ceremony, the IFC, represented by its Regional Director, Dahila Khalifa, announced a partnership with Liberty Investment, represented by its CEO, Joseph Barbar, to help increase the availability of clean and affordable bottled drinking water in Liberia and Sierra Leone.
Making remarks at the ribbon-cutting ceremony, the VP Koung said he is aware of the need to improve the private sector as a primary drive for economy advancement and development, while foreign investors are welcome to develop our private sector, reaffirming the government’s dedication to fostering the local investment to bridge the poverty gap and achieve wealth creation.
“Considering the high rate of unemployment and poverty in our nation, we have, as a government, a responsibility to support our local industry and businesses; our small businesses remain our major focus to lift our citizens out of poverty.
Even under difficult circumstances, our small businesses continue to demonstrate resilience and competence to compete with foreign businesses. While we encourage foreign investors to help in private sector growth, I have come to salute our local businesses for the consistency and assure them of government’s preparedness to create an enabling environment for expansion,” Koung narrated.
Veep Koung noted, “I firmly believe that Joseph Boakai’s ARREST vision offers a most promising avenue to address the long standing challenges confronting private sector investment, as we celebrate the expansion of the newly constructed Aqualife factory in Liberia.”
“I would like to say thank you, Mr. Barbar, for such wonderful development; we want to encourage other Liberian businesses here to continue getting out there, access loans and grants from some entities like the IFC, and let’s start to make some valued additions to create more jobs for our people,” he stated.
The Founder and CEO of Aqualife, Joseph Barbar, restated his company’s dedication to providing safe and affordable drinking water to the Liberian people, and help preserve life.
“The new state of the Aqualife factory will increase our production capacity from 12,000, to 45,000 bottles per hour, and certainly, all the centers will be kept; We are hoping that we will provide more affordable drinking water in and across the country,” Barbar added.
He stressed, “We are extremely grateful to the Government of Liberia for recognizing Liberty Investment. We will allow our operation go with the Liberian Government’s vision for a sustainable, self-reliant economy, by focusing on the local production and expansion. The main reason for acquiring the 45,000 bottles per hour is to make sure of the importation of water without compromising the quality, and making sure the products are always available.”
“We also want to take this opportunity to thank the IFC, our investor partners. In this project, the IFC facility has enabled us to carry out the expansion of Aqualife production line to ensure that we are able to reach all major villages, towns, and cities in Liberia,” Barber concluded.
Meanwhile, the IFC Regional Director, Dahlia Khalifa, extended her heartfelt gratitude to both the Aqualife and IFC teams, whose collaboration has brought this partnership to reality.
She said, “This investment is about more than just scaling a business; it’s about the border implications for economic growth and sustainable development in both Liberia and Sierra Leone, so may this investment pave the way for a prosperous and sustainable future for all.”
This partnership underscores IFC’s dedication to partnering with strong local champions like Aqualife, capable of becoming regional or global leaders and fortifying local markets.
With IFC’s support, Aqualife is set to triple its water bottling capacity and enhance the efficiency of its Liberia plant by 10 percent, and refurbish the plant in Sierra Leone with modern facilities.
“This expansion will not only create over 1,000 permanent jobs, but will also address the critical need for clean drinking water in both countries,” she concluded.
