Commerce Minister Nominee Promises Lower Business Costs, Consumer Protection, More Jobs and Greater Opportunities for Liberian Entrepreneurs
MONROVIA, LIBERIA — Steve Yekeson, President Joseph Nyuma Boakai’s nominee for Minister of Commerce and Industry, has presented an ambitious vision for transforming Liberia’s commercial landscape, pledging to expand local production, empower Liberian-owned businesses, improve consumer protection, and create more employment opportunities.
Appearing before the Liberian Senate for confirmation, Yekeson outlined an economic agenda designed to reduce the country’s dependence on imported products while ensuring that government spending, private investment, and commercial activities generate greater benefits for Liberian citizens.
His central message was clear: Liberia must move beyond consuming what other countries produce and begin creating more goods, businesses, and jobs of its own.
“By 2029, Liberia should produce more of what Liberia consumes, using more of our own labor, land, capital, and enterprise,” Yekeson declared, presenting his vision as part of President Boakai’s ARREST Agenda for Inclusive Development.
Drawing on experience in both government and the private sector, the nominee said he understands the challenges facing public institutions, investors, and local entrepreneurs. He previously served as Deputy Commissioner of the Liberia Maritime Authority and Deputy Minister of Public Works, worked as Chief Financial Officer of South Atlantic Capital Group, and served as President of Panchariya Group West Africa.
He also disclosed that he had served as Acting Minister of Commerce and Industry since September, giving him firsthand experience of the ministry’s responsibilities and challenges.
“I have not come to ask for your trust. I have come to tell you how I intend to earn it,” Yekeson told senators, pledging to be judged by the results he delivers.
A NEW PUSH TO MAKE LIBERIA MORE PRODUCTIVE
At the heart of Yekeson’s proposed strategy is a fundamental shift in how Liberia approaches its economy.
He argued that the country must begin producing more of the goods it currently imports while ensuring that Liberian workers, entrepreneurs, farmers, and investors play a greater role in the production process.
He pointed to iron ore, gold, and rubber as examples of resources that leave Liberia largely unprocessed, limiting opportunities to create additional jobs and retain more economic value within the country.
According to Yekeson, Liberia must gradually move from exporting raw materials to developing the infrastructure, electricity supply, and industrial capacity needed to process more of those resources domestically.
Working with the Ministries of Mines and Energy and Agriculture, he proposed strengthening local-content requirements to encourage mining companies and agricultural plantations to purchase more food, transportation, and other services from Liberian businesses.
The immediate objective would be to expand commercial opportunities for local suppliers, while the longer-term ambition would be to develop industries capable of generating more skilled employment and better-paying jobs.
Yekeson said micro, small, and medium-sized enterprises must become an important part of Liberia’s economic transformation rather than remain on the margins of major commercial activities.
GOVERNMENT CONTRACTS MUST CREATE OPPORTUNITIES FOR LIBERIANS
The nominee also pledged to ensure that public spending creates meaningful opportunities for Liberian-owned businesses.
He cited the Small Business Empowerment Act, which requires at least 25 percent of qualifying public procurement to go to Liberian-owned small businesses, including a 5 percent allocation for women-owned businesses.
Yekeson promised to publish reports showing, agency by agency, whether government institutions are complying with the law.
Such reporting, if implemented, could make it easier for business owners and the public to assess whether the statutory opportunities intended for local enterprises are actually reaching them.
He also pledged to enforce provisions of the Investment Act reserving specified business activities—including rice and cement retailing, gas stations, and sand supply—for Liberians.
However, he emphasized that the enforcement process must establish who genuinely owns a business, rather than relying solely on the names appearing on registration documents.
He promised to enforce the law fairly while providing support to legitimate Liberian business owners.
The approach, he said, would combine legal enforcement with practical measures to help local enterprises grow and compete.
FINANCING LOCAL BUSINESSES WITHOUT LAND-TITLE BARRIERS
Recognizing that access to capital remains a major obstacle for many Liberian entrepreneurs, Yekeson proposed measures to make financing more accessible.
He said business owners should have greater opportunities to secure loans even when they do not own land or possess conventional collateral.
His proposal includes working with the Central Bank of Liberia, commercial banks, and other lending institutions to explore small-business loans and credit guarantees.
He also wants banks to consider qualifying government, concession, and donor-funded contracts when determining whether businesses can access financing.
Under the proposed approach, a viable contract could help a business demonstrate its ability to generate revenue and repay a loan.
Yekeson further stressed that timely payments are essential to the survival of local enterprises.
When government agencies or concession companies delay payments for completed work, small businesses may be forced to borrow money to cover expenses while paying interest on revenue they have already earned.
He pledged to work toward addressing this problem, alongside efforts to simplify business registration and make the process accessible in every county.
The nominee also proposed closer cooperation between employers and vocational institutions so that young Liberians acquire skills relevant to available and emerging jobs.
CUTTING IMPORT COSTS TO EASE PRESSURE ON CONSUMERS
Yekeson’s economic agenda also targets the expenses incurred before imported goods reach shops and markets across Liberia.
He identified lengthy cargo-clearance procedures at the Freeport of Monrovia, duplicate fees, paper-based permits, and expensive transportation to the counties as factors that can increase the cost of doing business.
He said cargo clearance can take close to two weeks and pledged to work with port, revenue, and border agencies to reduce delays, eliminate duplicate charges, and digitize permits.
The objective is to reduce avoidable costs throughout the supply chain and create conditions under which savings can be passed on to consumers.
Beyond Liberia’s borders, Yekeson highlighted opportunities offered by the Economic Community of West African States and the African Continental Free Trade Area.
He argued that Liberian producers should be encouraged to serve regional markets, enabling local factories and businesses to expand beyond the country’s relatively small domestic market.
As he put it, a factory established in Liberia should have the opportunity to supply customers throughout West Africa.
CONSUMER PROTECTION: WEEKLY PRICE REPORTS IN ALL 15 COUNTIES
For households struggling with the cost of essential goods, Yekeson outlined a specific commitment that could be measured within his proposed first 100 days in office.
If confirmed, he pledged to publish weekly prices for rice, fuel, and cement in all 15 counties.
Within one year, he said, the price-monitoring programme would expand to cover 40 commodities that Liberian families depend on most.
He also proposed introducing maximum retail prices for a limited group of essential goods, beginning with rice, fuel, and cement.
Under the proposed framework, the maximum prices would be calculated through a published formula based on verified import costs, lawful duties, transportation expenses, and a reasonable profit margin.
Yekeson said the intention would be to make price-setting transparent, allowing consumers and businesses to understand why prices change when international costs or exchange rates fluctuate.
He cautioned against setting prices without considering actual costs, arguing that prices set too low could discourage supply and leave shelves empty.
He also pledged stronger enforcement against hoarding, collusion, false invoices, and inaccurate measurements.
For Yekeson, consumer protection extends beyond affordability to product quality.
A product sold at a seemingly reasonable price, he argued, does not represent value for money if its quality is poor.
He further promised that the ministry’s inspection rules, fees, and penalties would be published and that affected parties would have the right to appeal decisions.
His stated approach is to combine firm enforcement of the law with fairness and transparency.
ACCOUNTABILITY BUILT INTO THE AGENDA
Yekeson said his proposed reforms would be accompanied by a mechanism for measuring the ministry’s performance.
He pledged to establish a unit responsible for tracking implementation and return to the Senate every quarter with reports containing measurable results.
He also said a comprehensive strategy would be presented to Cabinet and welcomed scrutiny from lawmakers.
The quarterly reporting proposal could provide a framework for monitoring progress on price transparency, public procurement, business financing, trade facilitation, and local production.
The commitments, however, remain proposals pending confirmation and implementation. Their success will depend on available resources, cooperation among government institutions, effective enforcement, and the extent to which businesses and consumers experience tangible improvements.
“BUILT BY LIBERIANS”
Closing his presentation, Yekeson linked his proposed economic reforms to President Boakai’s call for citizens to love and build their country.
For the Commerce and Industry Ministry, he said, that vision must translate into practical economic activity: products made in Liberia, markets at home and across Africa, and businesses built by Liberians.
His message places local entrepreneurship, domestic production, and consumer welfare at the centre of his proposed leadership.
If confirmed, the challenge will be to translate those priorities into results that Liberian families and businesses can see and measure.
For market women, small-business owners, young job seekers, farmers, local manufacturers, and families purchasing basic necessities, the ultimate test of Yekeson’s agenda will be whether it helps create a more productive economy, wider commercial opportunities, and better value for money.
His vision is ambitious: produce more at home, empower Liberian businesses, and ensure that economic growth creates more opportunities for the people of Liberia. Editing and reporting by Lyndon J. Ponnie Sr.
