Former Central Bank of Liberia (CBL) Executive Governor Dr. Joseph Mills Jones last Wednesday opened the first Microfinance Institution for Community Empowerment (MIFICOME) in Cotton Tree, lower Margibi County.
Entering Harbel, Dr. Jones and his entourage, including the national chairman of the Movement for Economic Empowerment (MOVEE) – Dee Maxwell Kemayah, were welcomed by a multitude of citizens along the route from Harbel Bridge to the Cotton Tree administrative building.
Jones congratulated the founder and chief executive officer of MIFICOME, Fallah Nyumah, and his wife for “a job well done” for the people of Margibi County, particularly the people of Cotton Tree. He reminded the residents that what Nyumah has done is a practical example of what he did and continues to preach to Liberians – that they need to take over their own economy. “I always said Liberians should not wait for others do for them but should do it for themselves. We have always said that economic empowerment of Liberians is an idea whose time has come, and Mr. Nyumah has proved that by establishing this microfinance institution in the county,” he said. Dr. Jones called on Liberians to continue to pursue policies that will empower Liberians to do business, which will enable them to establish financial institutions. Dr. Jones said economic empowerment is not about extending handouts or people coming to beg, but “what can be done for the country.” Dr. Jones, who is the presidential candidate on the ticket of the Movement for Economy Empowerment (MOVEE), assured residents of Margibi that if given the opportunity to lead this country, “we will pursue policies that will empower Liberians.”
For his part, a representative aspirant of District #2 in Margibi County, Ivan K. Jones, extended gratitude to the CEO for his farsightedness in bringing the microfinance institution to the people of Margibi County. “I have been part of this before, so I know what it takes to bring microfinance to the people. I am one of those engaged in mobile money in the day to day business. I have the experience; and this is why we always say that Liberians need to take charge of their economy,” said Jones. He said Liberians can make a difference provided they are empowered because “our country has been dominated by foreigners,” which does not “mean that Liberians cannot make any difference.”
He said: “We want to say for the first time in Cotton Tree we have a community bank, we want to say bravo to you and we believe this is not your limit but just the beginning of life that you are hoping will bring relief to Cotton Tree and the Firestone Company and other areas.”
For his part, the CEO of the MIFICOME said his reason for establishing the institution is to empower the people in the county to develop strong businesses and help them become empowered to be able to sustain their families.