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Liberia needs private capital to sustain growth –Pres. Sirleaf

Ledgerhood Rennie/Benjamin S. Taingay
Liberia's President, Ellen Johnson-Sirleaf
Liberia's President, Ellen Johnson-Sirleaf

MONROVIA, LIBERIA-President Ellen Johnson-Sirleaf says what Liberia needs to sustain the country’s steady growth and development is private capital investment in its huge agro-sector base.

President Johnson-Sirleaf said with the drop in the global demand for the country’s traditional income earnings of rubber and iron ore the process of diversifying the economy now needs private capital investments.

The Liberian Leader made the remarks when she served as one of several African Distinguished Leaders at the United States Department of Commerce and Bloomberg Philanthropies’ first Africa Business Interactive Forum.

The Forum was held Wednesday, September 21, 2016 in New York, USA.

She told the Forum that Liberia has suffered from the global economic meltdown and the Ebola scourge and would now need to refocus its economic strategy to building an economy based on agriculture.

The Liberian President said the focus now was to attract huge private capital investment for the many potentials and opportunities Liberia has in agriculture.

The Liberian Leader said for the country to meet up with its transformative goals in agriculture, it has to tackle the Infrastructure Challenges of lack of adequate power and roads that would lead the country to industrialization.

President Johnson-Sirleaf said much has been done at the lower scale of agriculture, but until private capital can be added to the needs for more energy, it would be difficult for value addition to take place in the agro- sector.

The Forum, held on the margins to the United Nations General Assembly in NEW York, comes at a crucial time when the global economy is fast changing for both Africa and the United States.



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