Cummings Eyes Private Sector for Liberia’s Economic Growth


Monrovia – In the wake of economic crisis faced by Liberians which has led to hike in prices of major commodities on the market while foreign exchange rate skyrockets, presidential hopeful, Alexander B. Cummings has given scores of market women a US$60k loan.

Report by Willie N. Tokpah – [email protected]

The marketers are unable to meet financial demands to maintain their commercial status on the Liberian market that is already entangled with several constraining factors.

“I believe in Liberians and Liberia. I believe in Liberian owned businesses and I’m committed to whatever way I can as a private citizen to support and invest in Liberian businesses,” Mr. Cummings asserted.

According to the ANC political leader, the loan is aimed at improving financial growth of beneficiaries who are involved with business activities.

He believes the private sector is vital for the change Liberia deserves, assuring citizens of continuing the process at the end of the electoral process.

“The private sector is one of the primary ways we can change this country and I am prepared to do whatever it is to encourage Liberian businesses,” he intoned.

According to him, the loan will provide jobs for several Liberians, especially women who would be hiring agents for the sale of commodities.

The Liberian presidential hopeful maintained that the loan to the market women is not in any way intended to ignore the importance of men in Liberia.

Cummings said Liberian women are the pillar of societal growth and must be supported at all level.

“Liberia women are the backbone of our country and society, so I just want to thank all of you for coming here and I want to encourage you to register and vote.”

“If you register to vote you can help us develop our country because we, Liberians deserve a better Liberia,” Cummings said.

Speaking during the presentation of the money intended for loan, he told the women that the hardship they are facing is not their desire but said their lives can improved if the necessary opportunities are provided them.

The loan, he said, will be another way of beefing up the economic status of Liberian women involved with petit businesses and will serve as a manifestation of his commitment to Liberians.

For his part, the loan officer, Steve Kolubah, told the business women they have to justify their participations in getting the loan by displaying businesses they are involved with as well as locating their areas of residence.

“When we see everything is okay, we will come back to the office and call you to sign for the money and a workshop will be conducted for you afterward,” Kolubah registered.

Kolubah noted that the loan scheme is a program intended to boost the women economic status and there are several people interested in the package.

He stated that program officers have already assessed tangible businesses and other people who have the intention of doing business but have no means of getting finance.

“You have not only entrusted us to give them the money but also to help them grow their businesses in becoming successful,” he said.

Kolubah revealed that his office has already visited some counties including Bong, Margibi, Grand Bassa and Montserrado and will also be heading for Nimba soon in expanding the plan.