High-Powered Delegation of European Investors Expected

7
677
Franciz Perez, President of GRUPO PEFACO, will head the investemnt delegation to Liberia

The Embassy of the Republic of Liberia to the Benelux Countries and the European Union will lead a high-powered delegation of European Investors seeking interest in Liberia’s hospitality industry, aimed at creating more jobs and expanding the sector in keeping with The Pro-Poor Agenda for Prosperity and Development (PAPD) of President George M. Weah.

According to the dispatch, the delegation of 10 persons arrives in Liberia, on Sunday, March 28, 2021, to hold talks with senior government officials, including the Minister of State for Presidential Affairs, Nathaniel McGill; Minister of Finance and Development Planning, Samuel D. Tweah, Jr.; the Head of the Lottery Authority; and climax the trip with a meeting with the Chairman of the National Investment Commission, Molewuleh B. Gray.

As directed by Dr. Isaac W. Nyenabo II, Ambassador Extraordinary and Plenipotentiary, the Embassy will be represented by Mr. Senve Darlington Tehmeh, Minister-Counselor in-charge of Public Diplomacy.

It can be recalled that on 22 January 2018, during the Inauguration of President George M. Weah, he said, “Europe will always have a special place in my heart, and, as President, I intend to strengthen my relationship with the European community for the benefit of all Liberians”.

Accordingly, it is incumbent upon Missions and Interlocutors to continuously engage this policy through Economic Diplomacy with the European Community in an effort to enhance and strengthen the partnership.

In 2020, Liberia was ranked 8th by Forbes as one of the most attractive countries for world Tourism, as the country’s Eco-Tourism and unique Cultural heritage potential embrace great demand to several International Markets.

The European Community Delegation comprises French, Spanish, and Portuguese nationals, headed by Mr. Franciz Perez, President of GRUPO PEFACO. Grupo Pefaco is a Spanish holding with its headquarters established in Barcelona, Spain.

Grupo Pefaco was founded in 1995 by Francis Perez and Olivier Cauro, respectively President and General Director of the company.

They also specializes in the Leisure & Gaming and the Hospitality industries. The group, headed by its founders Francis Perez and Olivier Cauro, has more than 3,000 employees in 13 countries (Benin, Burkina Faso, Burundi, Congo, the Ivory Coast, Niger, Nigeria, DR Congo, Rwanda, Togo, Paraguay, Spain and Portugal).

According to the PEFACO website, as a key player in the Leisure and Gaming and the Luxury Hospitality industries in Africa, the company celebrated its 20th anniversary by doubling the salaries of its employees, randomly selected under judicial supervision.

The winners’ names were announced during celebratory events in each of the 13 countries where Grupo Pefaco operates. Three employees from the Ivory Coast, three from Burkina Faso, two from Togo, one from Benin, one from Niger, one from Congo and one from Paraguay, doubled their salaries for a month.

There has been a lot of enthusiasm for this action and Grupo Pefaco has announced its intention to develop other tools of internal dynamism: bonuses, profit-sharing, participation, result-based commission, etc.

The website further said that at the heart of a dynamic human resource management policy, doubling salaries follows new Keynesian theories about the simple efficiency wage model, which stresses the role of motivation in job performance.

Doubling salaries contributes to both employee productivity and to the attractiveness of the Company for young graduates.

The Benelux Member States of the European Union (EU) are: Belgium, the Netherlands and Luxembourg. The term “Benelux,” formed from the first two letters of each country’s name, originally referred to a customs union established in 1948.

7 COMMENTS

  1. The economic impact of this company’s operations on the lives of average Liberians will only materialize if the country had the right leadership. On the contrary, Liberia is not ready for this kind of investment.

    Hospitality is defined as, “The friendly and generous reception and entertainment of guests, visitors, or strangers.” How can a country play host to foreign guests, tourists and visitors in the midst of chaos, political, and economic instability?

    Keynesian theories originated from the late and renowned British economist, John Maynard Keynes. Keynes was amongst those management experts of his time who believe that when people are well compensated as the result of their job performance, their morale is boosted, and their productivity and quality of performance goes up in the medium term. This correlation between job satisfaction and employees’ performance has been proven to be true as many companies and industries particularly in the West are rapidly abandoning the classical school (Theory X) or top-to-bottom management philosophy, which was only designed to benefit the super-rich and the stockholders while the average employees, who often create the wealth through the daily drudgeries, gained nothing.

    Anyway relating this to the Liberian paradigm, Liberia is not prepared to implement these kinds of management concepts. To begin with, the dynamic risks alone that are involved in trying to establish good paying industries that would provide jobs and improve the quality of life of the people, are too high. Some token industries do come by sometimes, and all of a sudden they become disenchanted with events unfolding, and leave.

    Many research sites on Liberia often reveal Liberia is a dangerous and “inhospitable” place to travel as a tourist or to live and work. Sanctioned murders and well planned and orchestrated violence is carried on by the president’s own political party. Getting out during the night to run personal errands is perilous for travelers, investors, and even for the locals.

    No economic development will come to this country until it adopts good governance system. An old adage goes like this, “Political stability begets economic stability, but political instability begets economic instability.”

    • The Europeans are making every effort they possibly can; to be the [DOMINANT] Economic Power in Africa; south of the Sahara. For goodness’ sake, we should not let that happen at the expense of the USA in Liberia. I’m looking forward, to having our once U.S’ Investors returned to Liberia. Had our-Liberian [LEADERSHIP] not created tensions in Liberia’s U.S relations, Liberia would be far better-off today. Ironically, those who benefited most from Liberia’s relationship to the U.S, were the primary cause of tensions. I’m hoping, all Liberian Administrations will be very Pro United States. After all, The U.S is home 🏡 to over 500,000 people with affiliations to Liberia. As such, it is to Liberia’s best interest; to strengthen and maintain our relations with the United States Of America. *Those who made that decision to change Liberia’s electric-power grid from dual voltage 110/220 voltage @ 60Hz(U.S) to 220 voltage @ 50 Hz(European) were not wise at all. We’ve got yet to connect existing buildings to our new Electric-Power Grid. Why? Liberia’s existing buildings are not adequately equipped for 220-voltage @50 Hertz. Changing Liberia’s Public Education System from the standard U.S’ San Francisco System to whatever else, was not wise either. We need to re-think our ways of [THINKING] 🤔. This is especially true for our [LEADERSHIP].

  2. The economic impact of this company’s operations on the lives of average Liberians will only materialize if the country had the right leadership. On the contrary, Liberia is not ready for this kind of investment.

    Hospitality is defined as, “The friendly and generous reception and entertainment of guests, visitors, or strangers.” How can a country play host to foreign guests, tourists and visitors in the midst of chaos, political, and economic instability?

    Keynesian theories originated from the late and renowned British economist, John Maynard Keynes. Keynes was amongst those management experts of his time who believe that when people are well compensated as the result of their job performance, their morale is boosted, and their productivity and quality of performance goes up in the medium term. This correlation between job satisfaction and employees’ performance has been proven to be true as many companies and industries particularly in the West are rapidly abandoning the classical school (Theory X) or top-to-bottom management philosophy, which was only designed to benefit the super-rich and the stockholders while the average employees, who were creating the wealth through the daily drudgeries and unpleasantries of life, gained nothing.

    Anyway relating this to the Liberian paradigm, Liberia is not prepared to implement these kinds of management concepts. To begin with, the dynamic risks alone that are involved in trying to establish good paying industries that would provide jobs and improve the quality of life of the people, are too high. Some token industries do come by sometimes, and all of a sudden they become disenchanted with events unfolding, and leave.

    Many research sites on Liberia often reveal Liberia is a dangerous and “inhospitable” place to travel as a tourist or to live and work. Sanctioned murders and well planned and orchestrated violence is carried on by the president’s own political party. Getting out during the night to run personal errands is perilous for travelers, investors, and even for the locals.

    No economic development will come to this country until it adopts good governance system. An old adage goes like this, “Political stability begets economic stability, but political instability begets economic instability.”

  3. The economic impact of this company’s operations on the lives of average Liberians will only materialize if the country had the right leadership. On the contrary, Liberia is not ready for this kind of investment.

    Hospitality is defined as, “The friendly and generous reception and entertainment of guests, visitors, or strangers.” How can a country play host to foreign guests, tourists and visitors in the midst of chaos, political, and economic instability?

    Keynesian theories originated from the late and renowned British economist, John Maynard Keynes. Keynes was amongst those management experts of his time who believe that when people are well compensated as the result of their job performance, their morale is boosted, and their productivity and quality of performance goes up in the medium term. This correlation between job satisfaction and employees’ performance has been proven to be true as many companies and industries particularly in the West are rapidly abandoning the classical school (Theory X) or top-to-bottom management philosophy, which was only designed to benefit the super-rich and the stockholders while the average employees, who often create the wealth through the daily drudgeries life, gained nothing.

    Anyway relating this to the Liberian paradigm, Liberia is not prepared to implement these kinds of management concepts. To begin with, the dynamic risks alone that are involved in trying to establish good paying industries that would provide jobs and improve the quality of life of the people, are too high. Some token industries do come by sometimes, and all of a sudden they become disenchanted with events unfolding, and leave.

    Many research sites on Liberia often reveal Liberia is a dangerous and “inhospitable” place to travel as a tourist or to live and work. Sanctioned murders and well planned and orchestrated violence is carried on by the president’s own political party. Getting out during the night to run personal errands is perilous for travelers, investors, and even for the locals.

    No economic development will come to this country until it adopts good governance system. An old adage goes like this, “Political stability begets economic stability, but political instability begets economic instability.”

  4. Sorry for the appearance of three postings. This was not intentional. Event might have been some computer or glitch.

  5. this company is going to make president weah and his close associate rich again. wooo. the elephant meat, mama Liberia. weah and all of them about to cut big while we suffer, no job n no pay. when will each of these guys get their portion, before the house and senate eat theirs. All the various girl or boy friends for Weah and these guys about to build their homes again. I know before it reach us nothing is even left to pay those doing the actual job for the company here in Liberia. Even out brothers and sister will have to protest each month just t get their past 6months salary.

    may God safe our below mama Liberia and bring the leaders to his heart. AMEN

  6. Nobody should make it sound like the indispensability of stability, or predictability to the hospitality industry is quantum physics. A good example for even primary school children to understand can be seen from the devastating impact of the pandemic (especially on traveling & tourism) even in advanced western countries.

    Ours is a dangerously divided new democracy in which most educated folks are enthralled to zero sum group-thinking. For instance, as exhibited by naysaying comments indicating that the potential gain to government’s image by the coming of investors translates to loss for the opposition and anti-establishment elements. Tellingly, the latter were salivating when Republican Congressman Smith made his unsupported accusation.

    How can Liberia unite and prosper with such unrepentant projections of parochial interests, is the question? One bad news for the government from a biased and prejudiced American legislator is balanced by good news from the EU. For heaven’s sake, any news – bad or good – that benefits our people is great news to us advocates for stability. Mind you, strangers can help, but only Liberians acting collectively like purposeful ants will fix our overwhelming multifaceted problems.

    NB
    Thanks Daily Observer for fair and balanced reporting. Kudos, Counselor Bai Best

LEAVE A REPLY

Please enter your comment!
Please enter your name here