Commerce Minister Magdalene Dagoseh has launched the Youth Entrepreneurship Investment Bank Management Company, describing it as an important step in strengthening Liberia's private sector, supporting young Liberian entrepreneurs and creating jobs across the country.
Speaking at the official launch on the weekend, the Minister said the initiative forms part of the government’s agenda for inclusive development, aimed at ensuring that more Liberians have the opportunity to build and grow successful businesses.
The program is degisned by the government of Liberia, financed by the African Development Bank and is intend for Young Liberia Entrepreneurs between age 18 and 35.
“Today is an important step in our efforts to strengthen Liberia’s private sector, support entrepreneurship, create jobs, and provide opportunities for Liberians to build successful businesses,” she said.
The Minister noted that Liberia is among the first countries to implement the model, describing it as an opportunity to introduce new approaches to supporting entrepreneurs and strengthening small businesses.
Under the program, selected Small and Medium-sized Enterprises (SMEs) will undergo training designed to strengthen their capacity and prepare them to better manage and grow their businesses.
The Minister said the training and other support provided under the initiative are expected to help participating businesses become more sustainable and contribute to job creation and economic growth.
She emphasized that the Ministry of Commerce and Industry has a key responsibility to promote and regulate commerce and industry, support businesses, and create an enabling environment for private-sector development.
The Minister said investing in entrepreneurship, particularly among Liberians seeking to establish and expand businesses, is essential to building a stronger and more inclusive economy.