By Bill W. Cooper
The government in collaboration with various partners has officially kicked off the 2024 Micro, Small, and Medium-sized Enterprises (MSMEs) Conference and Trade Fair in Monrovia in a push for economic stability.
The event which runs from December 9 to 11, 2024, aims to empower local entrepreneurs, stimulate economic growth, and foster innovation within the country’s vibrant business landscape.
The conference was held at the EJS Ministerial Complex in Monrovia and themed, “Reducing Poverty and Inequality, Youth Innovation, Environmental Protection, Tourism, and Agricultural Productivity and Commercialization.”
Delivering a special statement on behalf of President Joseph Boakai, the Dean of the Cabinet, Nathaniel Kwabo, pledged the Liberian leader’s administration commitment to foster an environment that nurtures innovation, growth, and sustainability.
He said,” The President aims to support MSMEs and strengthen their presence both domestically and globally, while actively attracting Foreign Direct Investments (FDIs) that align with our development goals.”
Mr. Kwabo said, “Our focus on sustainable commerce and industrial growth will ensure that Liberia plays a key role in the global market. Under my leadership, our path forward is
clear. We have crafted the ARREST Agenda focusing on Agriculture, Roads, Rule of Law, Education, Sanitation and Health, and Tourism, endorsed by the National Steering Committee just a week ago, as the foundation for a prosperous and inclusive Liberia.”
“This Agenda reflects our dedication to a society in which justice prevails, opportunities are available to all, and the path out of poverty is open to every citizen. Agriculture remains the backbone of our economy,” he stated.
“As such, we are committed to modernizing agricultural practices, boosting productivity, and ensuring food security. This is vital not only for reducing poverty but also for creating sustainable jobs, particularly for our youth. By fostering innovation within agriculture and its commercialization, we aim to open new economic opportunities and lift communities out of poverty,” he maintained.
Kwabo, on behalf of the President, added, “Let us work together to turn this vision into reality. Together, we can build a Liberia where prosperity can become a reality, leaving a legacy of unity, progress, and prosperity for future generations.”
Earlier delivering her remark, acting Commerce Minister, Scholastica T. Nyenkan-Nimley disclosed that the MSMEs Conference and Trade Fair is the annual flagship event of the Ministry of Commerce & Industry.
She also revealed that the Ministry began hosting this annual event in 2014 up to 2017, but stated that over the past six years, the conference was not hosted as such, as a Ministry, they are very pleased and proud to host the Sixth National MSME Conference 2024 in response to constant calls from many MSMEs that have benefitted from the conference in the past.
She emphasized, “This year’s Conference is brought to you in collaboration with and support from agreed partners, sponsors, as well as public and private sector institutions to ensure its success.”
“The 2024 National MSME Conference is expected to bring together over 700 participants from the MSME sector, policymakers, government officials, members of the diplomatic corps and civil society actors, NGO partners, and multilateral institutions.
“Conference participants will convene for two days at the EJS Ministerial Complex to engage in meaningful discussions aimed at developing policy interventions for inclusive private sector growth in Liberia,” she explained.
She added that the forum provides an opportunity for MSMEs to showcase their businesses, share experience and knowledge, build new partnerships that can transform their businesses and drive inclusive economic growth, and create jobs.
Serving as the MSME keynote speaker, Falama Incorporated CEO, Angie M. Howard, emphasized the importance of MSMEs in the nation’s recovery and growth, and noted, “Today, we stand at a crossroads in our country’s economic journey.”
“Our MSMEs are not just the backbone of our economy; they are the lifeblood of our communities. By investing in these enterprises, we are investing in our future as such, this conference set a clear road map for MSMEs growth,” she intoned.
Mrs. Howard called on the government to create an enabling environment for MSMEs through policy reforms, access to finance, and capacity-building initiatives across the country.
Meanwhile, delivering a special statement, World Bank Country Manager to Liberia, Georgia Wallen said, “Today we celebrate the fruit of the land and the fruit of your labor. We celebrate the pivotal role of agriculture in Liberia, accounting for 40% of all employment & a leading sector and potential driver of economic growth.”
“Growth from agriculture is at least two times as effective in reducing poverty as growth emanating from other sectors, as such, Agricultural growth and agriculture sector competitiveness are key to unlocking the future that Liberians want to achieve,” she noted.
The WB Country Rep. also revealed that Liberia’s abundant natural resources, ideal climate, and rich potential are ripe to be harvested, and added, “Our cross-country analysis indicates that Liberia can be up to three times more productive in agriculture with upgraded technologies; improved inputs; further deployment, and investment in human resources.”
“Agriculture is critical for inclusive growth and job creation. In the coming months, the WBG will work with you on our new Country Partnership Framework with Liberia. Agriculture and agri-value chains will be at the heart of the agenda for inclusive growth and job creation.
“We look forward to consulting and working with you to further the potential of this essential sector to boost growth, job, creation, food security, and human development while managing climate risks,” she asserted.
