Fortune 500 Firm NEC Eyes Investment in Liberia

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Global Japanese firm NEC, known primarily for its technology and related products, is exploring possibilities for investing in Liberia in areas of energy and communication technology, the Executive Mansion has announced.

During a working luncheon tendered by NEC for President Ellen Johnson Sirleaf in Pretoria, South Africa, the Deputy CEO of NEC Africa expressed his Company’s strong desire to invest in Liberia. He said NEC is strongly positioned to contribute to Liberia’s reconstruction drive through direct private investment into key sectors of the economy.

Speaking at the luncheon, President Sirleaf disclosed ongoing efforts to diversify the Liberian economy from its traditional reliance on export of primary commodities to value addition through manufacturing and agriculture is the key to strong and sustainable growth and development.

NEC (originally Nippon Electric Company) had its beginnings in 1899 as Japan’s first joint venture with foreign capital, in association with Western Electric Company (now Alcatel-Lucent). Now a Fortune 500 company with a global presence, the company credits its success in part to quality technology products as well as to pioneering the phenomenon now known as Customer Satisfaction.

President Sirleaf recounted Liberia’s steady growth, which peaked at 7.8 percent before being assailed by the twin menaces of the steep decline in global commodity prices and the Ebola pandemic. “With diversification into value addition through small and medium scale manufacturing and value addition to primary products, we are regaining the lost momentum”, she told the gathering.

While in South Africa, President Sirleaf was led on a guided tour of the newly acquired Embassy of Liberia near Pretoria by Ambassador Lois Brutus. The President expressed delight that the government was able to purchase the property, which is located in Pretoria’s historic district, adding that it was wasteful to keep spending resources on leasing properties for embassies. She urged the Ambassador and her staff to treat the new edifice with pride and dignity befitting Liberia’s historic status as a luminary nation in Africa.

Ambassador Brutus thanked the President for her support which led to the acquisition of the property.

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