CBL Governor Urges Entrepreneurs to Prioritize ‘Local Contents’


The Governor of the Central Bank of Liberia (CBL), Dr. J. Mills Jones, is calling on local entrepreneurs and owners of Small and Medium Enterprises (SME) to focus on locally produced merchandise in the country.

Governor Jones said doing business is not just going to Lebanese, Chinese or foreign stores to buy imported products or commodities, but rather business people should be innovative and creative in reaching out to discover new marketable products within the country that will add value to the Liberian economy.

The CBL Governor made the statement recently in Buchanan, Grand Bassa County during a two-day seminar which was organized by the Federation of Road Transport Union of Liberia (FRTUL) and collaboration the Citizens Progressive Saving Club of Bassa.

Dr. Jones reiterated the need for Liberian business men and women to work harder, especially in the agricultural sector. The agriculture sector if taken advantage of by Liberian business people, the CBL boss noted, would help bring economic prosperity which will subsequently development the country.

“Doing business is not just going to the store to buy imported commodities, but your need to work hard as business people, especially in the agricultural sector, to help bring development to Liberia,” said Dr. Jones.

He told the business community that the CBL wants to encourage Liberian owned-small businesses to network and think about adding value to local products, thereby ensuring that more can be produced in this country.

“If this is donein our country, local products can also besent abroad for marketing as well as in many countries to help alleviatepoverty in Liberia,” the CBL Governor said.

He was however quick toremind participants and business owners that, “development is not a project, but to empower the fortunate poverty striking Liberian.

Dr. Jones has on many occasions stressed that Liberians should be the ones in stores doing business and not foreigners who are dominating the economy of the county.He proffered the unwavering support of the CBL to the Liberian business community.

“CBL would remain a friend to the private sector, especially the business community and will continue more financial loan scheme to them,” he promised.

Governor Jones indicated that the access to credit initiative, which is the CBL’s own way of helping Liberians to do business and build the private sector, will enable Liberia reach the middle income mark that it is targeting in the Agenda for Transformation (AfT).

The AfT is the government of Liberia five development programs that seeks to improve the provision of basic social services and infrastructural development. It is a subset of government’s Vision 2030 agenda. Vision 2030 is an initiative intended to ensure that Liberia becomes a middle income country in 18 years.

Dr. Jones said: “This is not going to happen by talking, not by playing politics, but it is going to happen by actually putting citizens to work in the private sector, in this trend Liberia will grow from a low to middle income” country.

“CBL is not throwing away money, but trying to invest in the future of Liberia,”he told them.

He told detractors that as Governor of the CBL, he sees “nothing wrong with empowering citizens of Liberia, and therefore, sees no reason to apologize to anybody for doing that.”


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