Monrovia – Liberia’s Minister of Commerce and Industry, Madam Magdalene Ellen Dagoseh, has reaffirmed the government’s commitment to strengthening micro, small and medium enterprises (MSMEs).
By Emmanuel Weedee-Conway
Speaking during the commemoration of World MSME Day 2026 on Friday, June 26, Minister Dagosseh described MSMEs as the backbone of Liberia’s economy and key drivers of job creation, innovation and inclusive economic growth that must be unlocked.
Held at the Ellen Johnson-Sirleaf Ministerial Complex in Congo Town, outside Monrovia and celebrated under the theme: “Empowering Liberian MSMEs Through Innovation, Digital Transformation and Inclusive Economic Growth,” the event highlighted the critical role of MSMEs as the backbone of Liberia’s economy and reaffirmed the Government of Liberia’s commitment to fostering entrepreneurship, innovation, digital inclusion, and sustainable economic growth.
The occasion was graced by an array of officials, development partners, members of the diplomatic corps, representatives of the private sector, entrepreneurs and business associations.
As part of an effort aimed at unlocking the growth in the nation’s economy, the Commerce Ministry boss explained that government is intensifying efforts to equip Liberian businesses with the digital tools, financing and market opportunities needed to compete in an increasingly technology-driven global economy.
The Commerce and Industry Minister told the gathering that his year’s global theme, “Empowering Liberian MSMEs through Digital Knowledge, Innovation and Sustainable Growth,” reflects the changing realities of modern business.
“Technology, innovation and digital skills have become essential drivers for business success across the world. Digital transformation is no longer a choice, it is a necessity. Businesses that embrace digital technologies are better positioned to improve productivity, access new markets, engage customers and compete effectively,” said the Minister.
She noted that MSMEs account for nearly 90 percent of businesses worldwide and provide the majority of employment opportunities. In Liberia, she maintained, the sector encompasses market women, manufacturers, traders, farmers and youth-led enterprises whose contributions are critical to economic growth and poverty reduction.
Despite persistent challenges, including limited access to finance, inadequate infrastructure and market constraints, Madam Dagoseh praised Liberian entrepreneurs for their resilience, determination and innovation.
“Today we celebrate their achievements and recognize their critical role in shaping our nation’s economic future,” she asserted.
Key Initiatives
The minister highlighted several government initiatives aimed at improving the business climate, including the Liberia Investment, Finance and Trade (LIFT) Project, which seeks to expand access to finance, strengthen business support systems and improve the overall investment environment.
She disclosed that the government has established dedicated lines of credit for small businesses, introduced an electronic business registry and implemented reforms to improve access to financing, all of which are intended to remove longstanding barriers that have hindered business growth.
Minister Dagoseh also pointed to the Accelerate360 Program, which provides mentorship, technical assistance, market linkages and business development services to growth-oriented enterprises, particularly women-owned and youth-led businesses.
This initiative, the Minister informed Liberians, is helping entrepreneurs become more competitive and investment ready.
In addition, the Minister is upbeat that expanding market access remains one of the ministry’s highest priorities, stressing how government continues to promote the implementation of the 25 percent procurement policy, which reserves a portion of government procurement opportunities for Liberian-owned businesses.
The Commerce and Industry Ministry, she stated, also encouraging local enterprises to take advantage of regional trading opportunities under the ECOWAS Trade Liberalization Scheme (ETLS) and the African Continental Free Trade Area (AfCFTA).
“These frameworks provide unprecedented opportunities for Liberian businesses to access larger markets, expand exports and participate in regional value chains.”
However, Minister Dagoseh stressed that success in regional and international markets will depend largely on entrepreneurs embracing digital innovation, including e-commerce platforms, online marketing, digital payment systems and modern business management practices.
“The Ministry remains committed to working with stakeholders to bridge the digital gap and ensure that Liberian MSMEs are equipped to compete successfully in a digital economy,” she stated.
The Minister called for stronger collaboration among government institutions, development partners, financial institutions, educational institutions and the private sector to create an enabling environment for business growth.
She urged banks and other financial institutions to develop affordable and innovative financial products tailored to the needs of MSMEs, while encouraging educational institutions to expand entrepreneurship and digital skills training to prepare business owners for an increasingly competitive global marketplace.
Addressing entrepreneurs directly, Madam Dagoseh commended their perseverance and contribution to national development.
“You are the drivers of innovation, the creators of jobs and the builders of Liberia’s future,” she said. “You are the backbone of our economy, the pillars of our homes and the vision builders carrying Liberia forward.”
She then reaffirmed the President Joseph Nyuma Boakai administration’s commitment to supporting Liberian entrepreneurs through policies and programs that promote access to finance, markets, technology and knowledge.
“The Ministry of Commerce and Industry remains steadfast in championing policies and programs that empower Liberian entrepreneurs and strengthen the foundation of a resilient, inclusive and sustainable economy. Together, through partnership, innovation and digital transformation, we can unlock the full potential of Liberian MSMEs and accelerate our national economic growth and development.”
