Liberia’s President Boakai Delivers a Call to Action to African American Businesses to Invest In Liberia’s Growth and Development

Written by: Cynthia L. Blandford, Editor-in-Chief, iF Magazine

On August 23, 2024, I had the pleasure of attending the 124th National Black Business Conference where the President of Liberia, His Excellency Joseph Boakai, delivered the keynote address that took place during the Pan-African Diaspora Black Business Summit Luncheon at the Hilton Atlanta Hotel in Atlanta, GA. The event registered over 2,000 Black-owned businesses, professionals, and leaders from across the United States and over 32 Black Pan African countries.

This significant event, presented by Prosper Africa, was anticipated to highlight the importance of driving bilateral trade and fostering private sector investment opportunities between Black American businesses and the Liberian economy. His participation underscored the historical ties and mutual commitment between Liberia and the African American community. The League’s founder, Booker T. Washington, who played a significant role in Liberia by repelling efforts from European colonial forces in overtaking Liberia, Booker T. Washington was able to ward off foreign entities and maintain Liberia’s sovereignty.

“We are honored to welcome President Boakai as our keynote speaker,” said Dr. Ken Harris, President and CEO of The National Business League. His insights and leadership will significantly contribute to the success of our summit, fostering deeper connections and economic opportunities between Black American businesses and Liberia. In collaboration with the U.S. Department of Commerce, International Trade Administration, and U.S. Commercial Services, the Pan-African Diaspora Black Business Summit will focus on aligning towards a unified Black business agenda.”

With an audience of hundreds in attendance at the luncheon, the President of Liberia noted “the journey of Liberia and African Americans is a story of a common aspiration— one directed by the determination to be free and take charge of one’s destiny. As we deliberate and engage each other at the 124th National Black Business Conference, let us reaffirm our commitment to transforming our societies and communities in ways that promote development and progress.”

President Boakai challenged conference attendees to “take advantage of the huge potential Liberia and Africa offer by taking the bold step to invest in the motherland. By doing so, you invest in your heritage and your future.”

The Liberian President proudly spoke about the nation having many great opportunities for investors, and particularly black businesses. He spoke on the establishment of the ARREST Agenda, with a focus on the investment and development in agriculture, roads and infrastructure, and tourism. “These may not be the most critical to drive economic growth, however, we believe they steer such growth and development,” President Boakai said.

“Liberia’s fertile land and favorable climate offer an array of opportunities for agricultural investments,” stated President Boakai.

Liberia is seeking investments in solar, hydro, and biomass energy projects to meet its growing needs. The president said the country’s installed capacity does not nearly reach the present demands for power.

“The urgent need for investment in expanding renewable energy sources to ensure that more Liberians have reliable access to electricity and to support industry, including manufacturing, for economic growth,” said President Joseph N. Boakai

The President ended by closing that “together, we pave the way for a future where our shared dreams of prosperity and equality will continue to flourish. As we end this Conference, it is my honor to invite you to the first Liberian Diaspora conference to be held in 2025 on how the Diaspora community may contribute to the development of Liberia.”

The 124th NBBC, co-hosted by NABB co-founders The National Business League, National Black Chamber of Commerce, and The World Conference of Mayors, aims to unite the leading Black business organizations in a concerted effort to promote economic growth and cooperation.

For more information on how to do business and invest in Liberia or to schedule an appointment, please contact Honorable Cynthia L. Blandford, Managing Director, Blandford Thompson Consulting, LLC, where we have a team of experts on hand with over 80 years of experience to assist you at cblandford@BTICllc.com or at +1 678-612-2192.

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