Financial Expert Wants Gov’t Support Micro-Credit/Finance

A Liberian Financial expert, Mr. Austin S. Fallah, has called on the Liberian government to give its unflinching support to the Micro-credit/finance program initiated by the Century Bank of Liberia to make financial resources accessible to every qualified Liberian.

Mr. Fallah said it is time that the remaining days of the Ellen Johnson-Sirleaf Government be about lifting Liberians out of poverty than paying benefits to people who do not in any manner deserve financial compensation for ineptitude at the National Oil Company of Liberia (NOCAL).

Mr. Fallah made the call recently when he spoke to a cross section of journalists after he served as the Master of Ceremonies at a “conversational gathering of Liberians in Minnesota on Issues of national concerns in Liberia” with Mr. Alexander B. Cummings Jr, Executive Vice President and Chief Administrative Officer of Coca-Cola.

The US based Liberian professional, who frowned at the widely publicized embezzlement at NOCAL, said the remaining portion of the loots should be used to uplift Liberians’ lives through Micro-Credit/finance.

Mr. Fallah observed that no country can achieve its full potential if its citizens continue to linger in poverty, while its so-called elites live a utopian life style by looting the resources of the country adding, “many of our people are considerably lagging behind and this continues to bring about a very unbalanced socioeconomic development.”

He noted that because of President Sirleaf’s lackadaisical act exhibited since her ascendancy to the presidency, many social problems have risen such as joblessness, and job losses in the already looming private sector, loose population movements and illegal establishments pointing out that these situations have stretched the ordinary Liberians to cope with these unbearable situations.

“Therefore, it is important for the Ellen Johnson-Sirleaf’s government in these numbered days to find ways to ensure more balanced development opportunities to all sectors of the economy and groups of population”, Mr. Fallah noted.

Mr. Fallah, who also holds an Economic degree, said, “Micro credit/finance has proven to be a more effective way to deal with these problems, as we continue to see in many countries around the world.”

He said if his suggestion is sincerely implemented, it will account for most of the aggregate production during these development stages, noting that money and human capital can be used to finance small projects in areas like agriculture, livestock or services like handicraft, small food stores, among others.

Speaking on Mr. Cummings’s conversation held in Minnesota with Liberians, Mr. Fallah said, Mr. Cummings was forthcoming and truthful with his fellow compatriots, said this is the type of leader that Liberians have been yearning for.

“Should Mr. Cummings decide to contest the 2017 Presidential elections in Liberia and meets all of the established constitutional requirements, I will personally support him. I will ensure that he is elected”, Mr. Fallah pointed out.

He said Mr. Cummings stands apart from any of the candidates “we have heard or read about so far. I am a full-fledged member of Team Alex.”

Mr. Fallah holds several undergraduates and graduates degrees in several disciplines from prestigious Universities in the United States. He is a Supervisor within the Hennepin County Government of Minnesota, Financial Analysis and Accounting Department.