Why Liberian owned businesses are failing.
Two years ago, at the Clinton ’s Global Initiative Forum (CGIF), Bob Johnson, founder of BET, made the pledge to raise 30 million dollars for the development of Liberia . Unknown to Mr. Johnson at the time, The US Overseas Private Investment Corporation, OPIC, had already allocated 20 million dollars for loan commitments to small and medium size enterprises (SMEs) in Liberia so as to develop the private sector of the Liberian economy, according to Laurin Banner, country director of the Liberian Enterprise Development Fund, LEDF. This was the largest loan commitment to any Sub-Saharan country.
Read more in this article, written by Jeff Blibo, May 1, 2009