As Liberians strive for electricity to improve living standard and the growth of businesses in the country, Liberia entrepreneurs have called on the government to help ensure that the Liberia Electricity Act is passed into law.
Many businesses, including foreign investors are currently finding it difficult to improve their businesses owing to the high cost of electricity in Liberia and thereby hampering the decentralization of some in other parts of the country.
For over a decade now, Liberian entrepreneurs have turned more serious attention toward entrepreneurship in contribution toward the development of the country.
But many have described the lack of electricity as a hurdle that must be addressed in a timely manner to ensure that they reach their benchmark.
“If the electricity crisis is resolved in Liberia, many businesses can contribute to the development of the economy through a regular tax payment process and the employment of a workforce in Monrovia and other parts of the country. We believe that the passage of the
Liberia Electricity Act will empower many businesses, including the government in addressing some of their needs across Liberia,” a local entrepreneur said.
A young Liberian entrepreneur, Menekenu Waritay, who is engaged in clothing design and printing, told the Daily Observer yesterday that many businesses were facing a huge challenge with regard to electricity, which is cardinal to the growth and development of any business, especially considering the technology era of the world.
According to him, if Liberia’s electricity impediment is addressed, many businesses would take advantage of the opportunities for loan to purchase the necessary equipment that will improve their businesses as well as support the decentralization through the establishment of local branches in other parts of Liberia.
He maintained that many businesses in the country were also facing multiple challenges, including tax clearance from the government that continue to be marked with a delays, adding that, “We need to have a fast process in getting tax clearance to enable entrepreneurs to obtain contracts in the shortest possible time.”
Mr. Waritay said, there are some equipment that required the use of reliable electricity, which many small businesses desperately need in order develop or improve their performance and profit margins.
According to him, decentralization will only take place, especially for businesses with the coming of new electricity companies to provide competitive energy solutions across the country, particularly at low cost.
“Many of these businesses will continue to find it difficult in ascending or reaching to their benchmarks if we continue to face the same problem of electricity. We need to have other companies competing through the distribution of current that will lead to a reliable and less costly access to power throughout Liberia,” he observed.
According to him, with Liberia acceding to the World Trade Organization (WTO), other countries with standards will greatly outshine Liberian businesses competing on the world market.
“In exporting, you need to have a high volume to put out into the western world, getting it from Liberia is the first step but landing it in the United States for example is another, because America has its own standards that I need to address. In order to compete on said market, we need equipment to be able to scale a lot of our products to specific quantity and quality standards. When we have current, we can buy the necessary machinery and get the right quality for the western market,” he said.