By Linus Flomo
The Director of the Buchanan Port, Jonathan Kaipay, has revealed that the port achieved a significant milestone by generating over $3.5 million in revenue during the 2024 operational year.
This announcement was made during a press conference held at the port’s facility, highlighting the economic contributions of the region’s maritime hub.
According to Kaipay, the revenue, accumulated between January and December 2024, came from a variety of marine port services and other operational activities.
These include docking fees, cargo handling charges, storage fees, and other essential services provided to shipping companies and clients.
“This revenue represents the dedication and hard work of our staff and partners who have worked tirelessly throughout the year,” Kaipay stated.
On Wednesday, January 8, 2025, Kaipay confirmed that the generated funds were forwarded to the National Port Authority (NPA) headquarters in Monrovia, as part of the port’s commitment to supporting the national economy.
The NPA oversees all ports in Liberia, ensuring the efficient management and allocation of resources generated from the maritime sector.
Director Kaipay expressed optimism about the port’s future potential. He emphasized the need for enhanced infrastructure, modern equipment, and skilled staffing to further increase operational efficiency and revenue generation.
“With the right investments in staffing and equipment, Buchanan Port has the potential to generate over $10 million in annual revenue,” Kaipay said confidently.
This optimistic projection aligns with Liberia’s broader goals of enhancing its maritime sector to boost economic growth.
The port’s management team is now looking at strategies to attract more business, streamline operations, and invest in state-of-the-art technology to achieve these ambitious targets.
Buchanan Port remains a key player in Liberia’s economic landscape, serving as a gateway for trade and commerce in the region.
The port’s leadership hopes that continued support from the government and private sector stakeholders will enable it to meet and surpass its revenue goals in the coming years.
