Boakai Seeks Legislative Endorsement To Deal With Afriland First Holding

By Grace Bryant Mollay
The House of Representatives has referred three pivotal strategic agreements from President Joseph Boakai to its Committees on Investment & Concessions, Banking & Currency, and Judiciary for detailed examination potentially marking one of the administration’s most ambitious investment undertakings to date.
The agreements submitted include a Strategic Partnership Agreement between the Government of Liberia and Afriland First Holding, a Shareholders Agreement, and the Articles of Incorporation for the newly proposed Liberia Corporation for Strategic Investment (LCSI).
According to President Boakai, the package aims to stimulate economic growth, foster entrepreneurship, and enhance the well-being of women and children throughout Liberia.
In a formal communication to the Legislature, President Boakai emphasized, “These instruments are designed to improve the lives of our people. I call on the Legislature to ratify them, as they chart a new course for economic empowerment and sustainable development.”
Afriland First Holding SA, the lead private-sector partner, is a Lomé, Togo-based corporation with a declared capital of five billion CFA.
The agreement envisions a partnership between Afriland and the Government of Liberia through the creation of LCSI, a special-purpose vehicle tasked with implementing joint economic and social development initiatives.
The President’s submission outlines three core components, to establish the guiding framework for the collaboration, outlining mutual roles, obligations, and the shared objective of advancing Liberia’s socio-economic progress.
“The submission further seeks to define LCSI’s governance structure, equity arrangements, and operational responsibilities to ensure transparency and effective corporate management,” he added.
The President noted that the entity formally registered as LCSI under the Liberia Business Corporation Act, with a mandate to pursue development-oriented business ventures, empower African entrepreneurs, and uplift vulnerable populations, particularly women and children.
The assigned House Committees are expected to conduct a thorough review and submit their findings in the coming weeks.
The agreements align with President Boakai’s broader economic strategy focused on inclusive growth and fostering robust private-sector collaboration.