Several market women at the Duala Market and other community marketers are appealing to the national government, most especially the Central Bank of Liberia (CBL) to provide them with loans to develop their businesses.
“Currently, we are struggling to cope with our competitors in the local economy and the only way we can survive is by providing us with loans to produce our own products,” a cross-section of the marketers indicated.
They pointed out that providing loans to Liberian marketers will help reduce prices and give value to the Liberian dollar.
They also added that it will also help Liberian businesses gain relevance on the market.
Several of the marketers, who spoke to our business desk recently in Monrovia, praised CBL Governor J. Mills Jones, who they said was doing all he could to empower Liberian businesses.
“We are appealing to Governor Jones to help us with loans to ensure that all business women get back on their feet,” said Ma Kemah of the Duala Market.
She said that for many Liberian women and men to be able to compete with foreign businesses, will demand a substantial investment by the Liberian government into businesses owned and operated by Liberians.
Musu Konneh, another businesswoman who sells female clothing at Red-light, maintained that the prices of goods and services are determined by market forces such as exchange rates, inflation trends and interest rates of financial institutions that are providing loans to their clients.
She noted that most of her friends have failed to take their businesses beyond their neighborhood, noting that they need business skills to move forward.
“Though we all crying for loans from the Liberian government, we need to learn how to manage money so that when we are helped by the government we will be able to do well,” Madam Konneh indicated.