Golden Veroleum Investment below USD1.6b

GVL spokesman Stephen Binda_web.jpg


Golden Veroleum Liberia has clarified media reports that it has invested US$1.6 billion dollars in Liberia, saying that the company has not reached that financial proportion even though the amount is anticipated being invested in the course of its development.

A release from the company quotes GVL spokesman,  Stephen Binda, as saying that GVL over the long-term will hire approximately 35,000 to 40,000 Liberians in the five counties identified for its operations.

Currently, the company has employed approximately 3,500 Liberians and expects that number to increase by approximately 1,000 by the end of the year.

The company currently operates in Sinoe and Grand Kru counties. Under its concession agreement with the Liberian Government, it may in the future operate by invitation from citizens in Rivercess, River Gee and Maryland Counties.

The oil palm company aspires to be among the best oil palm developers in the global industry and measured on key values including ending rural poverty, developing career skills of Liberians and respecting communities’ self-determination.

We fully expect not only to increase our Liberian workforce, but to increase the number of Liberian senior managers in the company, said Binda.

“Right now most of our departments are run and managed by Liberians, including human resources, government relations, logistics and procurement, community affairs, social sustainability and administration,” said Binda, adding, “this will only increase over time as our workforce grows.”


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