Tappita, Nimba County – A rural Liberian businesswoman is calling on the government and key financial institutions to support small and medium-sized enterprises (SMEs) in Liberia.
Pauline Demey, Chief Executive Officer of Royal Investment Incorporated, a local agri-business that produces locally grown Liberian food in Tappita, Nimba County, said the lack of funding and basic equipment was hampering the growth of Liberian businesses.
She produces garie (farina), cassava and plantain flour, fufu (made from cassava) and others products.
In an exclusive interview with FrontPageAfrica Tuesday, Madam Demey explained that due to the value added, these once perishable goods are now durable and well packaged on the Liberia market.
She, however, lamented that the lack of basic equipment is impeding the production process.
“The production is costly because almost the entire process is done manually.”
“There are no machines for packaging and cutting down the labor cost.”
“You have to compensate all those who are rendering their services in the production process,” she said.
Because of the high cost of production, Demey intoned that prices of the commodities are high; though demand for the goods is still high.
“The Liberian people are doing well to buy our products.”
“The demand of our products is high and the supply is low on the market because we don’t have machines to carry on mass production.”
”The Royal Investment CEO averred.
She lamented that her business was benefiting several rural women but was still did not have access to the finance market.
She explained that despite strenuous effort exerted to get loan or grant from nongovernmental organizations and banking institutions in Liberia, her entity was yet to benefit.
“There is no actual financial profit, only the skill that is being impacted on to the women that we are working with,” Demey said.
“We want to make them to be self-sufficient so that they can help themselves with the knowledge acquired,” she added.
“All we need is some financial assistance to boost our business.”
Demey’s appeal comes amid increasing calls from the government of Liberia and its international partners including the World Bank on citizens engagement in agriculture and agri-business and increased investment in the private sector.
“The private sector is the engine of growth. As we promote growth, we are mindful that growth is inclusive.”
“With financing leasing, the domestic private sector will enjoy inclusive growth,” Vice President Joseph Boakai declared at the opening of the Liberia Leasing Forum, organized by the National Investment Commission (NIC) and the International Finance Corporation (IFC) in Monrovia recently.
While in its September 2016’s edition, Africa Pulse recommends that by boosting agriculture productivity, countries would not only raise the incomes of farm households, but will also lower food costs and promote development of agro-industry.
Report by Gerald C. Koinyeneh -0880881540/[email protected]
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