By Laurina B Lormia
The Bureau of State Enterprises (BSE), in collaboration with the Law Reform Commission, has concluded a one-day validation workshop aimed at refining a policy framework for the governance and efficiency of state enterprises.
The workshop aims to strengthen the administrative authority of the Bureau of State-Owned Enterprises (BSE) to effectively monitor and regulate the activities of State-Owned Enterprises (SOEs) in Liberia.
The workshop, held on Thursday March 20, 2025 at the Ellen Johnson-Sirleaf Ministerial Complex in Congo Town, brought together key stakeholders, including representatives from various government agencies, legal experts, and civil society organizations, to validate the draft legislative act for the establishment of the State-Owned Enterprises Authority of Liberia (SEAL).
Speaking at the validation, the Director General of BSE, Arthur S. Massaquoi, described the effort as a significant transition from the Bureau of State Enterprises (BSE), which was established under the Interim National Assembly Decree # 8 of 1985, to a fully empowered entity under Liberian law.
According to him, the transition of the Bureau to SEAL is a critical step toward strengthening the legal framework that governs SOEs, enhancing their efficiency, transparency, and accountability.
This initiative, he pointed out, aligns with the President Boakai’s legislative agenda, as reaffirmed in his recent State of the Nation Address. President Boakai underscored the importance of this transition in ensuring better oversight, curbing financial leakages, and promoting fiscal responsibility in the SOE sector.
“It is my firm belief that today’s discussions will focus on advancing this goal, giving due consideration to the President’s vision of strengthening corporate governance and improving domestic resource mobilization,” he said. Adding, with your valuable contributions, we can ensure a seamless transition from the BSE to SEAL, ultimately benefiting Liberia’s economic development,” asserted the BSE boss.
He urged all SOEs’ leaders to actively engage with the Bureau, share insights, and propose innovative ideas that will enhance the sector’s performance.
Cllr. Boakai Kanneh, Chairperson of the Law Reform Commission, explained that the draft law is in consonance with Chapter 10, Article 89 of the Liberian Constitution (1986), which empowers the Legislature to enact statutes for the creation of ministries, agencies, commissions, and autonomous bodies as may be necessary for the effective operation of the government.
However, he explained that it has become necessary to repeal the Interim National Assembly (INA) Decree No. 1 of 1985, which established the Bureau of State Enterprises (BSE), in alignment with the country’s National Development Plan.
Kanneh maintained that SEAL will oversee the activities of state-owned enterprises that might be instrumental in promoting transparency, accountability, sustainable economic development, efficiency in the deployment of resources, and effectiveness in the delivery of public services by state-owned enterprises.
Meanwhile, participants engaged in rigorous discussions and provided recommendations to further refine the policy. Key areas of focus included regulatory oversight, corporate governance principles, and mechanisms for performance evaluation.
At the end of the workshop, a consensus was reached on the final version of the policy framework, which will be submitted to the relevant authorities for approval and implementation.
The initiative is expected to foster greater efficiency within state enterprises, contributing to national economic growth and sustainable development.
