"Liberians are willing to do business in Liberia but the challenge has always been finding loans, grants and resources and the involvement of international business partners is critical to meeting this challenge."

The statement was made on Saturday, August 28, 2010 in Philadelphia, Pennsylvania, USA by the Trade Consul of the Liberian Embassy in Washington DC Ms. Gurly Gibson when she addressed a one day Business Development Forum which the Embassy held in collaboration with a Philadelphia based American financial advisory business known as Constance Financial Group, LLC.

"The Liberian President is focused on and encouraging Liberians with the goal of creating jobs for Liberians", she said. According to the Embassy official Ms. Gibson "the Government of Liberia is placing heavy emphasis on the investment potential of Liberians since they would be the ones to build the country with the help of others." adding that "the investment of Liberians in their own country will also impact the lives of their own families."

She disclosed that in the coming months there is a trade mission planned for countries comprising the Mano River Union (MRU) including Liberia, Sierra Leone, Guinea and Cote d'Ivoire in the West African sub-region and the Embassy and the Liberian Government is encouraging American and other international investors to participate in this venture.

The Trade and Investment Liaison Office of the Embassy of Liberia, headed by Ms. Gurly Gibson, is responsible for promoting trade and investment in Liberia; provides assistance to interested businesses; and connects individuals to the appropriate government ministry/agency/implementing partner in the country. Ms. Gibson previously served as the First Secretary and Consul in the Consular Section of the Embassy.

The Minister Counselor for Public Affairs at the Liberian Embassy in Washington DC Mr. Gabriel I.H. Williams who represented the Embassy termed the conference as a "partnership in creating awareness of Liberia and for the huge potential that the country for business development."

Some of the conference attendees

Graeme Woods, Constance Financial

He reiterated the challenge of getting Liberians to take "ownership of the economy" saying this was the solution to the sustained development process in Liberia. "The Liberian Embassy is keen on seeing how to involve Liberians in the business sector including the Diaspora to get involved", he added.

Mr. Williams disclosed to the conference that as part of its major business development thrust, the Liberian Government on Friday, August 27, 2010 announced that it has entered an agreement with Chevron Corporation to explore three deepwater concessions in Liberian waters. Under the agreement, Chevron will conduct a three year exploratory program that is expected to begin in the fourth quarter of 2010.

The agreement has been approved by the Executive Mansion and submitted to the National Legislature for consideration and ratification.

These investments, along with the rehabilitation of the Freeport of Monrovia and the first direct flights from the U.S. to Monrovia in 20 years starting September 5 through Delta Airlines, will provide real economic opportunities for the people of Liberia.

Also addressing the conference was Rev. Jesse W. Woods Jr. Chairman and Chief Executive Officer of Mandiana Siguiri Mining Corporation and a Venture Partner in Constance Financial Group, LLC. The long-time American business executive who has overseen business development in parts of Africa including Guinea, Liberia and South Africa predicted that "this meeting will mark the beginning of the awakening of the sleeping giant - Africa, by the action that is being proposed here today. I say that Liberia and each of us here today is about to see the stimulus that will awake up this sleeping giant."

The Rev. Woods in his prepared statement told the conference that "this is the giant that our fathers William V.S. Tubman, Ahmed Sekou Toure, Kwame Nkrumah, Julius Nyerere, Houphouet Boigny and Nnamdi Azikwe envisioned when they set in place the Organization of African Unity during the Saniquellie Conference in Saniquellie in Liberia, the predecessor of the African Union sixty years ago. This meeting today will begin the process that an African American Rev. Leon H. Sullivan whose church is to 2 miles north of here, envisioned, within the parameters of the visions of our fathers, to bring Africans on both sides of the Atlantic together when he created vehicles such as Opportunities Industrialization Centers, International and the Sullivan Foundation, to facilitate complete development of the continent.

The President and Chairman of Constance Financial Group, LLC Mr. Graeme Woods who delivered a PowerPoint presentation on the available services his form provides told the conference that his business was earlier this year approved by the Overseas Private Investment Corporation (OPIC) as an originator of their loan and insurance products.

According to Chairman Woods, OPIC's priority is small and Medium Size Enterprise finance in developing countries and projects with high developmental value in the host country. OPIC does short term financing of between 2- 15 year but they do not want a permanent position in the companies’ debt or equity structure. Africa Technical Assistance Grants are for projects in sub-Sahara Africa and do not require US involvement.

The Constance Financial Group, LLC Executive told WRAR-96 Internet Radio/Running Africa at the conclusion of the Conference that measurable results from Saturday's forum include 5 potential business deals including the potential for a sustainable energy project. Additionally, Mr. Woods said, he found a potential source for micro-finance, asset finance and technical assistance services from a Liberian owned business that attended the conference.

The American business executive said that his firm is prepared to speak to Liberian businesses and investors eyeing the Liberian market, start the application process and take action toward financing Liberian businesses.

Mr. Woods is encouraging Liberian businesses in and out of the country to engage his firm in discussions for potential undertakings.

By Emmanuel Abalo
Philadelphia, PA USA