Vice President Boakai Reiterates Government's Willingness to Support Investment

Wednesday, 12th September 2007
Managing Director of TP Group, TP Ndlazi, shakes hands with Vice President Boakai.
Managing Director of TP Group, TP Ndlazi, shakes hands with Vice President Boakai.
Photo Credit: Press & Public Affairs/Office of the Vice President
Monrovia, Liberia - Liberia’s Vice  President Joseph N. Boakai has reiterated the Unity Party-led government’s willingness to support and protect any genuine investment in the country.

He said government was also committed to providing attractive incentives to would-be investors as well as the conducive environment for investment, including security.
Vice President Boakai gave the assurance Wednesday, when a delegation from the South Africa based TP Group, accompanied by Liberian businessman Clarence Momolu, paid a courtesy call on him at his Sinkor office. The TP Group based in Durban and Cape Town, specializes in the generation of electricity.

The Liberian Vice President noted that attracting major investments in post-war Liberia is being hampered by lack of infrastructure, especially electricity, while the restoration of electricity and other infrastructure is being impeded by the heavy debt burden, which makes it impossible for the government to acquire new loans .

Vice President Boakai said South Africa is one of the countries that Liberia would want to have very positive relations with, noting that there is a lot of technology in South Africa that post-war Liberia can benefit from.

Earlier, the Managing Director of TP Group, Mr. T.P Ndlazi, informed Vice President Boakai that his delegation was in Liberia to explore investment opportunities, especially in the area of electricity.

Mr. Momolu, President and Chief Executive Officer of the Liberia Business Consortium, said  TP Group has the technical and financial capacity to meet Liberia’s electricity needs, and only needed the go-ahead from government.

“Whatever investment they are going to do is going to be purely private sector. As long as government gives them the go-ahead, they have tons of money. Money is not their problem,” Mr. Momolu assured.