By Amos Harris
Monrovia, Liberia – March 26, 2025 – The President of the Patriotic Entrepreneurs of Liberia (PATEL), Dominic Nimely, has voiced strong concerns regarding the persistent marginalization of Liberian-owned businesses. At a press conference in Monrovia on Monday, March 24, 2025, Nimely expressed frustration over the lack of government action to protect local entrepreneurs from dominant foreign-owned enterprises.
Nimely criticized the government’s ongoing failure to enforce trade regulations that would prioritize Liberian ownership in sectors intended for them. “Our businesses are being sidelined in our own country,” Nimely stated, lamenting that despite repeated calls for economic empowerment, Liberian entrepreneurs continue to struggle against foreign traders who control the market. He emphasized that this issue has persisted across multiple administrations and remains unresolved under the current leadership. Nimely urged authorities to immediately implement and enforce existing laws designed to protect Liberian businesses, particularly in the retail sector, and to provide financial support to enhance their competitiveness.
Meanwhile, in a move aimed at boosting revenue and efficiency at the Freeport of Monrovia, the National Port Authority (NPA), under President Joseph Boakai’s directive, has successfully renegotiated the Marine Services Agreement and the Global Tracking and Maritime Solutions (GTMS) contract. These renegotiations, supported by the Ministry of Finance, Liberia Revenue Authority (LRA), and Ministry of Justice, are projected to significantly increase government earnings, reduce costs for port users, and gradually transfer service control to Liberians.
Under the revised GTMS contract, the government’s revenue share has dramatically increased from 3% to 40% for the initial five years, with a subsequent rise to 45%. Additionally, GTMS will now be required to pay all applicable taxes, including an estimated 20% corporate tax. The renegotiated fees will also provide relief for port users, with the service fee for importing a 45ft container decreasing from $236.25 to $213.75, and the cost for a 20ft container dropping from $130.00 to $95.00. GTMS provides crucial real-time cargo tracking and security verification services.
The amended Marine Services Agreement now includes an indigenization clause, mandating the training and integration of Liberians into key operational roles to achieve full Liberian control within five years. The government’s royalty under this agreement has also increased from 15% to 20%. Furthermore, the NPA will receive logistical and technical support to fully operationalize a navigational aid system, enhancing safety and efficiency at the Freeport.
These renegotiations represent a significant step in the government’s broader strategy to reform the maritime sector, strengthen economic sovereignty, and ensure that national resources are managed for the direct benefit of the Liberian people, even as local business owners continue to advocate for greater protections and opportunities within the broader economy.
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