Members of several Liberian Business Associations in Monrovia and its environs will today conclude a four-day seminar that is being hosted by the new Liberian Enterprise Development Finance Company (LEDFC).
The LEDFC seminar, under the theme “Growing Liberian Business,” is in collaboration with its development partners, which focuses on LEDFC’s financial services to potential collaborating partners in infrastructure and development projects financing.
The Credit Manager of LEDFC, William Wleh Koon told the participants that the seminar is intended to communicate the role of LEDFC and a means by which it could contribute to the rebuilding of Liberia to stakeholders.
The Business seminar is also intended to provide knowledge to the LEDFC’s clients and potential clients on the need to be credit worthy as well as create awareness of LEDFC’s services.
At the opening session on Monday, Mr. Koon told the various Business Associations about the key roles the Central Bank of Liberia and the National Investment Commission are playing in the process for the growth and development of Liberia in the areas of finance and investment.
He assured them that LEDFC has in its possession US$ 16 M to lend to Liberian-owned businesses and they should apply to build up their businesses. He added that the seminar would also serve as a platform to build networks and create synergies for development.
A Ghanaian expert in Business and head of LEDFC, Richard A. Wiafe said his organization’s focus is to contribute to the rebuilding of Liberia through access to finance, and to create the necessary platform and synergies for development.
Mr. Wiafe expressed hope that at the end of today’s session, basic information on LEDFC’s services would have been fully explained, including ownership structures, access to finance and how it intends to collaborate with other major stakeholders to rebuild Liberia.
The LEDFC’s boss who also stressed the need to build networks and create synergies for sustained development said clients should focus on good business practice if they want to succeed in their businesses. He assured them that good business practices will enable them to compete with their counterparts around the world.
During the seminar sessions, a representative from the Central Bank of Liberia gave a clear understanding on its role in strengthening Liberian Small Medium Enterprises (SME)through value creation.
The seminar’s deliberation presentations focused on the role of the Central Bank in rebuilding Liberia, the National Investment Commission mandate to create an enabling and conducive investment climate in Liberia, and the donor, as a team player in building Liberia’s economy.
The Contractors Association is also expected to speak on the topic “Playing a crucial role in transforming Liberia, what next?”
Participants of the Business seminars include LEDFC’s existence clients, Liberia Business Association, Liberia Contractors Association, and Micro Credit Association.
Others are the National Credit Union of Liberia, Local and International non-Governmental Organizations of Liberia, Central Bank of Liberia, National Investment Commission, United States Embassy, European Union, USAID and Multinational Private Corporations.