The Security Expert Guard Agency of Liberia/SEGAL has launched an agriculture cooperative at the concession area of Arcelor Mittal in Yekapa in order to sustain its officers who were downsized owing to the short fall in the price of iron ole in the world market.
According to its Chief Executive Officer and General Manager Mr Momo Cyrus his organization will be investing about US$ 50, 000 into the cooperative to make it more productive.
He added that the purpose of the cooperative is to keep the downsized officers busy doing something as a means of sustaining themselves before they go back in society to engage in unlawful activities that will embarrass the company.
He said the cooperative will involve in mechanized farming and products will be sold in Yekapa to Mittal canteen owners and the rest of the country.
“Our goal has always been to keep Liberians at their jobs, but due to some situation we are taking this decision by downsizing you, again, we don’t want you to go in the community sitting down doing anything or getting involved into some unlawful acts, this is why we are launching this cooperative,” he explained.
He encouraged the downsized officers to take advantage and join the cooperative as another means of employment.
“The cooperative is synonymous to cooperation and they have to cooperate with one another so that it can be successful and it is going to be a modern farming venture involving machines for mass production,” he asserted.
The management of SEGAL immediately invested US$ 2000 as an initial contribution in the formulation of the cooperative.
SEGAL on May Day downsized about 118 officers in Yekapa as part of three months campaign to downsize 50% of their men manning Mittal facilities, according to Mittal’s demand which came due to the fall in the price of iron ole.
SEGAL is a security firm protecting Mittal facilities in concessional area in Yekapa. It has about 600 men who have been in active service since Mittal began mining in Liberia.
Downsizing 50% of these men means that some 300 Liberians will be losing their jobs, but the coming of the cooperative will again upsize those who will lose their jobs, SEGAL said.
The downsizing and launching was attended by former SEGAL Board Chairman Mr. Lionel Keller along with prominent citizens of Nimba including the office of Rep. Samuel Woleh, whose district the Mittal concession falls.
“On behalf of the Nimba Caucus and the office of District # 3, we are very proud of SEGAL to take this bold step in creating a cooperative that will upsize the downsized,” said Thomas Bahn, Administrative Assistant in the office of Rep. Woleh.
However, the management has outlined that the cooperative will be comprised of representatives from SEGAL, Nimba District 3 office backed by other consultants from Yekapa while the land will be provided by Mittal.