By Calvin Brooks
Monrovia, November 17 (LINA) – The World Bank Group Country Director for Ghana, Liberia and Sierra Leone has disclosed that the Bank is providing US$100,000 seed capital for 10 Liberian businesses.
According to Dr. Henry Godfrey Kerali, this will be accompanied by a capacity-building exercise which will lead to the selection of qualified businesses.
In remarks at the Micro, Small and Medium Enterprises (MSME) Conference held at the Monrovia City Hall Tuesday, Kerali observed that the private sector is the key engine of job creation, noting that it accounts for 90 percent of all jobs in the developing world.
According to Kerali, MSME comprise over 80 percent of all businesses in Liberia, noting that 70 percent of household incomes are from MSME activities.
Dr. Kerali stated that the task ahead is to improve opportunities for this sector to achieve sustainable development in line with the cross-cutting pillars of Liberia’s Agenda for Transformation (AfT).
He noted that sustainable MSME development can only be achieved when Liberia has healthy, skilled laborers, sound macroeconomic policies, vibrant education system, good governance, access to finance, sustainable infrastructure and an efficient legal and regulatory framework.