MONROVIA – The Government of Liberia is reportedly negotiating with Ecobank to pre-finance the $22 million acquisition of 285 yellow machines, essential for the country’s infrastructure development.
By Selma Lomax, [email protected]
This deal, which was renegotiated after an initial agreement had ballooned to $43 million, marks a significant step toward fiscal responsibility and public accountability.
The government’s decision to renegotiate the procurement deal came after widespread public outcry over the original $79 million agreement, which critics had deemed excessively inflated.
Vice President Jeremiah Koung, speaking at a recent Town Hall meeting with Liberians in the United States, confirmed that the final cost of the machines had been reduced to $22 million. “This is a significant reduction in the cost of acquiring these machines,” Koung said. “We are committed to transparency, fiscal responsibility, and ensuring that every county benefits from this acquisition.”
The controversy surrounding the procurement process began in May 2024 when Minister of State without Portfolio Mamaka Bility unveiled the deal for the 285 pieces of heavy equipment. The proposed $79 million price tag sparked an immediate backlash, with many accusing the government of inflating the costs to benefit a select few. The deal was quickly criticized by opposition groups, who dubbed it “devilish” and demanded a revision.
In response to mounting public pressure, President Boakai last year sent a letter to the Legislature, clarifying that a formal deal had not yet been finalized. He assured the public that no taxpayer money had been used for the purchase, and that the first batch of machines had been shipped at the supplier’s expense.
The president emphasized that the negotiations were still ongoing, and if the deal fell through, the supplier would be entitled to reclaim the equipment.
Now, with the renegotiated cost capped at $22 million, the deal is widely seen as a win for those advocating for greater accountability in public spending. Activist Martin K. N. Kollie, who had been vocal in opposing the inflated price of the machines, expressed relief but emphasized that the fight for full accountability continues.
“We resisted fearlessly for over six months, and our efforts have paid off,” Kollie said. “But we still demand full accountability for those who tried to deceive the Liberian people.”
A crucial part of this revised deal is Ecobank’s role in pre-financing the $22 million cost, enabling the government to secure the machinery necessary for Liberia’s road rehabilitation program without immediately using national resources.
Sources indicate that Ecobank will pay the full $22 million upfront, with the Liberian government scheduled to repay the amount over a three-year period starting in February 2026. The government, FrontPageAfrica has gathered, has outlined a payment plan that will ensure regular installments, easing the burden on the country’s finances. However, concerns remain about the transparency of the financing arrangement and whether it aligns with Liberia’s public financial management regulations.
Additionally, the government rejected an offer from a Chinese company—located near Zoe’s Restaurant—that proposed supplying the machines for $22 million.
Although the price was lower than the renegotiated deal, the government declined the offer, reportedly citing concerns about the long-term sustainability and quality of the machines.
As the deal progresses, Senator Amara Konneh has praised the government’s quick action in renegotiating the terms of the deal and stressed the importance of public oversight. While he expressed support for the revised terms, Konneh also called for greater transparency in future procurement efforts.
“We support President Boakai as long as the new deal aligns with our laws and ensures quality work,” Konneh said. “The fight against corruption must continue, and those responsible for inflating the original deal must be held accountable.”
The renegotiated agreement with South African company GM Earthworks Logistics will provide Liberia with critical earth-moving equipment such as motor graders, excavators, and trailer trucks necessary for road maintenance. In addition, the deal includes warranties and spare parts, which are vital for ensuring the machines’ long-term sustainability.
In a letter dated March 6, 2025, President Boakai expressed his “deepest appreciation” to GM Earthworks CEO Robert Gumede for agreeing to the revised terms.
The President emphasized the importance of the machines for Liberia’s infrastructure development and underscored the lasting impact this deal would have on the country’s roads and overall economic growth.
“Liberia values and appreciates partners like you; visionaries who recognize that true impact is measured not just in financial terms, but also in the lasting legacy of improved infrastructure and better livelihoods for the people,” President Boakai wrote.
As the final steps of the procurement process unfold, the pre-financing agreement with Ecobank and the renegotiated terms of the deal represent a major shift in Liberia’s approach to public spending.