By: Julius Konton
Liberia’s bold reforms to expose the real individuals who own and profit from companies known as Beneficial Ownership (BO) transparency have earned the country widespread international recognition, positioning it as a rising global model in anti-corruption governance.
This commendation came during the Open Extractives Programme Global Peer Learning Exchange, held from November 17–18, 2025, where more than 150 delegates from over 20 countries, international partners, and civil society organizations reviewed five years of implementation of the global BO transparency agenda.
Liberia’s delegation presented what observers described as “significant and inspiring progress,” despite the country’s resource constraints.
With illicit financial flows draining an estimated US$88.6 billion from Africa annually (UNCTAD, 2023), international experts agreed that Liberia’s BO reforms place it among countries taking decisive action to close loopholes used for corruption, tax evasion, and money laundering.
Morris A. D. Sambola, Manager for Beneficial Ownership at the Liberia Business Registry (LBR), said Liberia’s work is gaining momentum in the right direction.
“Despite difficulties with resources and capacity, our partners and co-implementing countries were highly impressed with Liberia’s progress so far,” Sambola noted.
“They encouraged other countries to copy Liberia’s BO implementation roadmap. We return with valuable lessons to build on”, he added.
Liberia’s delegation comprising representatives from the Liberia Business Registry (LBR), Liberia Extractive Industries Transparency Initiative (LEITI), Liberia Revenue Authority (LRA) and the Ministry of Mines and Energy highlighted several milestones:
Establishment of a dedicated BO Office at the LBR to coordinate national reforms.
Manual collection of BO data already underway for companies registered in the country.
A new digital BO online portal, now in advanced testing, designed to meet international standards and future public-access requirements.
Practical integration of BO data into governance processes, as reflected in LEITI’s recent reporting on extractive sector ownership.
A presidential directive officially elevating Beneficial Ownership Transparency to a national priority.
Liberia’s selection for an international Training-of-Trainers pilot, aimed at building local technical expertise for long-term sustainability.
These steps align with global expectations under the Extractive Industries Transparency Initiative (EITI) and Open Ownership principles, placing Liberia ahead of many countries still struggling to initiate BO reforms.
According to Sambola, Liberia is now focused on moving from systems-building to full implementation:
“Our priority is to operationalize the online portal for public access, enforce compliance across all sectors, and integrate BO requirements into procurement, licensing, and regulatory processes,” he stated.
“The ultimate goal is to create a permanent and sustainable BO system that strengthens transparency and accountability nationwide”, he further disclosed.
The integration of BO data into public procurement is particularly critical, as the World Bank estimates that up to 30% of public spending in low-income countries is lost to corruption and opaque contracting. Liberia’s new reforms are expected to significantly reduce these vulnerabilities.
The Liberian delegation extended thanks to its international technical partners, Opening Extractives and Open Ownership, whose support has been instrumental in strengthening national systems.
Recognition also went to key national stakeholders:
Chairman Jeffrey Yates
Patience B. Randall, Registry General of the Liberia Business Registry
Financial Intelligence Agency of Liberia (FIA)
Liberia Revenue Authority (LRA)
Central Bank of Liberia (CBL)
Liberia Petroleum Regulatory Authority (LPRA)
Liberia Extractive Industries Transparency Initiative (LEITI)
As global calls intensify for stronger governance and corporate accountability, Liberia’s progress signals a growing determination to modernize its regulatory frameworks and ensure that companies operating within its borders are fully traceable.
With the new BO online portal nearing completion and compliance mechanisms strengthening across institutions, Liberia is rapidly carving a reputation as one of West Africa’s emerging leaders in transparency and anti-corruption reforms an accomplishment that international observers say could have long-term economic and governance benefits for the nation.
