New York, U.S.A. – In an effort to better the nation, Finance Minister Augustine Kpehe Ngafuan has encouraged Liberians living abroad to participate in the government’s ongoing programs. He reiterated, “We have a lot of initiatives, more tangible ones to attract Liberians back home.”
Minister Ngafuan encourages Diaspora Liberians to use the US Development Finance Corporation (DFC) to invest in Liberia, particularly at low rates and thresholds, as part of initiatives to boost investment back home.
He claimed that the administration aims to expand American companies’ presence in Liberia.
He started from highlighting the government’s collaboration with the World Bank through the International Financing Corporation. He revealed that the World Bank has made the decision to invest in business in Liberia.
At the Liberia Diaspora meeting in Washington, Minister Ngafuan informed the attendees that the DFC had some funding for agrobusiness and other options. He calmed saying, “You may not be able to get all the funds, but funds are available to leverage.”
According to Minister Ngafuan, the CBL is working with what he calls the payment swap. He noted that the effort enables transactions to be completed while seated anywhere. Minister Ngafuan acknowledged that despite the challenges, the administration is moving slowly toward finding answers.
Speaking further about the payment changeover, Minister Ngafuan stated that, in contrast to earlier, the port now offers night service until 10 p.m.; this is not a 24-hour service, but it is a promising beginning as the payment period gradually changes, he added.
He said, “The payment switch is on, we are taking steps, in October we will see the two GSM providers, Orange Liberia and Lonestar Cell MTN, being inter-corporate, specifically in the transfer of mobile and orange money, respectively.”
He assured the gathering that the government through the Ministry of Finance and Development Planning is digitizing the economy and is working very hard to help improve the Country’s economy.
