Doloquee
In a significant move to strengthen the commercial agricultural sector in Liberia, USAID has signed a partnership agreement with 11 privately owned agribusinesses, providing a total investment of US$7.8 million. This initiative is part of the USAID Agribusiness Incubator and Development activity, a five-year, US$20 million program aimed at fostering growth and expansion in Liberia’s agricultural industry.
The selected agribusinesses will have the opportunity to enhance their operations, stimulate growth, and establish both domestic and international markets for Liberian agricultural products. During the signing ceremony, Rory Donohoe, Deputy Mission Director of USAID Liberia, emphasized the U.S. Government’s commitment to investing in local businesses and collaborating with Liberian enterprises to achieve equitable economic growth.
Donohoe highlighted that the program will be implemented across all 15 counties in Liberia through three local incubator service providers. Alongside the co-investment grants, USAID is also implementing a business incubation program, which offers relevant skills and support to start-ups and small agribusinesses.
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However, Donohoe emphasized the need for the Liberian government to address constraints hindering agricultural productivity, such as inadequate infrastructure, lack of affordable utilities, and weak export standards. By addressing these challenges, the country can attract further investments and enable the private sector to contribute significantly to agricultural development.
Goretti Itoka, CEO of AgroRetti Inc., representing the recipient agribusinesses, expressed gratitude for the comprehensive due diligence process conducted by USAID. She assured that the allocated resources would be utilized effectively and encouraged other agribusinesses to seize similar opportunities as the U.S. Government expands its partnerships with local companies.
Golden Mahove, Senior Technical Director of the Africa Trade and Investment (ATI) Program, the implementing partner for the Agribusiness Incubator and Development activity, announced that these grants represent the first cohort of recipients. He emphasized USAID Liberia’s commitment to providing feedback to all applicants and mentioned that 148 new applications are currently under review. Mahove assured the successful recipients that the grants would be closely monitored during the execution phase, based on milestone achievements.
The partnership between USAID and Liberian agriculture companies is a significant step in strengthening the commercial agricultural sector in Liberia. The investment and support provided aim to foster growth, expansion, and the creation of new domestic and international markets for Liberian agribusinesses.
Amin Modad, CEO of Atlantic Foods Company, emphasized the importance of this support as Liberia currently imports all its foodstuffs, including essential commodities like rice. He regarded the grant as a gesture of empathy, particularly in the context of the COVID-19 pandemic. Modad expressed confidence that this investment would increase their business productivity and acknowledged its wider impact on thousands of Liberian farmers and smallholders, serving as a bridge to external markets. He welcomed the collaboration as the first step toward building a resilient Liberian economy.
The 11 agribusinesses benefiting from this partnership are AgroRetti, AL Global, Atlantic Foods Company, J-Palm Liberia, Kpailama, Libhana, Mahmonie, MicMork, Nimba Venture, SAP Liberia, and Wungko’s. In addition to the US$7.8 million investment, these companies have leveraged a total of $13.3 million in private capital.
