…. to Boost Youth and Women Entrepreneurs
By Amos Harris
Monrovia, Liberia – The Government of Liberia, in collaboration with the United Nations Development Programme (UNDP) and key international partners, has officially launched the fifth cohort of the Liberia Micro, Small, and Medium Enterprises (MSMEs) Growth Accelerator Program.
The vibrant launch ceremony, held at the Ellen Johnson-Sirleaf Ministerial Complex in Congo Town, convened high-level government officials, financial institutions, international donors, business leaders, and emerging entrepreneurs. The event celebrated the continued advancement of Liberia’s private sector, marking another major stride in the nation’s efforts to diversify its economy and promote inclusive development, particularly among youth and women-led businesses. Since its inception in 2021, the initiative has aimed to bolster local entrepreneurs through mentorship, skills training, and direct financial support.
Speaking at the occasion, Deputy Minister for Commerce and Trade, Wilmot A. Reeves, underscored the critical role of MSMEs as “the backbone of Liberia’s economy.” He reaffirmed the government’s unwavering commitment to promoting entrepreneurship through the ARREST Agenda, which prioritizes Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism. Minister Reeves emphasized that empowering small businesses is central to achieving the country’s broader economic transformation goals.
The Liberia Growth Accelerator Program is implemented by iCampus Liberia and fiscally managed by Accountability Lab Liberia. Over the past four years, the initiative has forged partnerships with several regional and international Business Development Service Providers, including AgroTech Liberia, Business Startup Center (BSC) Monrovia, GrowthAfrica, and the East Africa Market Development Associates.
A key highlight of this year’s launch was the renewal of Memoranda of Understanding (MOUs) with four major commercial banks in Liberia: International Bank Liberia Limited (IBLL), United Bank for Africa (UBA) Liberia, Bloom Bank Africa, and Ecobank Liberia Limited. These financial institutions are poised to play a pivotal role in providing access to capital and tailored financial services for promising entrepreneurs selected through the program. Their involvement signals growing confidence in Liberia’s private sector and the immense potential of MSMEs to drive sustained economic growth.
The international development community reaffirmed its steadfast support for the program. The European Union Delegation to Liberia and the Swedish Embassy in Monrovia both pledged continued backing through the Community-Based Forest Management Project and the LEH GO GREEN Project, respectively. These programs aim not only to promote entrepreneurship but also to ensure that such growth is environmentally sustainable and community-driven.
UNDP’s Resident Representative in Liberia, Aliou Dia, highlighted the initiative’s crucial role in Liberia’s development journey by unlocking opportunities for women and youth. “Empowering women and youth remains central to our efforts,” said Mr. Dia. “Our partnership with Liberia’s entrepreneurs is a testament to our shared vision for a resilient, self-reliant nation.”
Since its inception, the MSMEs Growth Accelerator Program has attracted hundreds of applications from all 15 counties of Liberia, underscoring the nationwide demand for support among small business owners. Past cohorts have awarded up to $40,000 in grants per business, primarily focusing on high-impact sectors such as agriculture, food processing, and cooperative development. Through its multi-sector partnerships and localized support, the program has successfully nurtured dozens of small enterprises, transforming them into scalable, sustainable businesses
UBA Liberia’s Managing Director and CEO, Mr. Ayokunle Olajubu, stressed the importance of long-term commitment from financial institutions. “This is an exciting chapter for Liberia. We’re committed to helping entrepreneurs scale beyond the SME level and make a lasting impact in their industries and communities,” he remarked.
With Cohort V officially underway, the Government of Liberia and its partners are optimistic that the program will continue to serve as a powerful vehicle for economic advancement and social inclusion. This year’s cohort is expected to include a higher number of women-led enterprises and youth-run startups, aligning with Liberia’s national development priorities and the global Sustainable Development Goals (SDGs).
As Liberia looks toward a future of innovation, sustainability, and self-reliance, the MSMEs Growth Accelerator Program is rapidly becoming a cornerstone of the country’s economic development strategy, delivering results one entrepreneur, one idea, and one community at a time.
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