Liberia: USAID Invests US$7.8M to Strengthen Liberian Agribusinesses

USAID has signed a partnership agreement with 11 privately owned Liberian agribusinesses, providing a total of US$7.8 million to enhance the commercial agricultural sector in Liberia. 

This investment is part of the USAID Agribusiness Incubator and Development activity, a five-year, US$20 million program aimed at boosting the country's agricultural sector.

The recipient companies will be able to expand their operations, foster growth, and create new domestic and international markets for Liberian agribusinesses.

At the signing ceremony, USAID Liberia Deputy Mission Director, Rory Donohoe, said that the U.S. Government was committed to investing in local businesses and collaborating with Liberian enterprises to achieve equitable economic growth.

“This program is being deployed across all 15 counties in Liberia through three local incubator service providers,” he said. “In addition to the co-investment grants, USAID is implementing a business incubation program, which provides relevant skills and support to start-ups and small agribusinesses. 

Donohoe noted that while the US remains steadfast in its support to Liberia, the government needs to swiftly address constraints hindering agricultural productivity, including inadequate infrastructure, lack of affordable utilities, and weak export standards. 

He said improvement in these areas would attract further investments and facilitate the private sector's contribution to addressing these challenges.

Goretti Itoka, Chief Executive Officer of AgroRetti Inc., who represented the recipient agribusinesses, acknowledged the comprehensive six-month due diligence process conducted by USAID and affirmed that the allocated resources would be utilized effectively. 

Itoka also encouraged other agribusinesses to seize similar opportunities as the US Government expands its partnerships with local companies.

Golden Mahove, the Senior Technical Director of the Africa Trade and Investment (ATI) Program, the implementing partner for the Agribusiness Incubator and Development activity on behalf of USAID, announced that these grants represent the first cohort of recipients. 

Mahove shared that the program received 148 new applications, which are currently under review, emphasizing USAID Liberia's commitment to providing feedback to all applicants. 

He reassured the 11 successful recipients that the grants will be milestone-based and closely monitored during the execution phase.

Mahove further stated that the partnership between USAID and Liberian agriculture companies marks a significant step in strengthening the commercial agricultural sector in Liberia. The investment and support provided aim to foster growth, expansion, and the creation of new domestic and international markets for Liberian agribusinesses.

Amin Modad, Chief Executive Officer of Atlantic Foods Company, emphasized the significance of this support for Liberia as the country continues to import all its foodstuffs, including rice and other basic commodities. 

Modad regarded the grant as a considerable gesture of empathy, particularly in the wake of the COVID-19 pandemic. He noted that this is the first major support received by his company and expressed confidence that it will enable them to increase their business productivity.

Modad also highlighted the broader impact of this partnership, stating that it will benefit thousands of Liberian farmers and smallholders and serve as a bridge to outside markets. He welcomed the collaboration as the first step in building a resilient Liberian economy.

The 11 agribusinesses that benefit from this partnership are AgroRetti, AL Global, Atlantic Foods Company, J-Palm Liberia, Kpailama, Libhana, Mahmonie, MicMork, Nimba Venture, SAP Liberia, and Wungko’s. In addition to the US$7.8 million investment, these companies have leveraged a total of $13.3 million in private capital.