By: Julius Konton
President Joseph Nyuma Boakai, Sr. has renewed calls for greater Liberian ownership and participation in the national economy, describing indigenous enterprises as critical drivers of employment, innovation, and long-term economic resilience.
The President made the remarks during the official opening of the Uptown Motor Garage New Showroom in Monrovia, an expansion that marks the company’s transition from vehicle repairs into the importation and sale of brand-new automobiles and genuine spare parts.
Liberia’s automotive and transport services sector largely dominated for decades by foreign-owned firms employs thousands of workers directly and indirectly, according to estimates from the Ministry of Commerce and Industry.
Yet Liberian ownership in the sector remains limited, reflecting a broader challenge across the economy where foreign firms account for a significant share of formal private-sector activity.
Reclaiming Space in a Foreign-Dominated Sector
President Boakai noted that companies such as Uptown Motor Garage, African Motors, and Toyota Liberia were long perceived as foreign-dominated institutions, raising concerns about how much value remains within the local economy.
“For too long, Liberians have worked in businesses they do not own,” Boakai said. “Ownership matters because it determines who reinvests profits locally, who creates opportunities for our young people, and who stays committed during difficult times.”
Liberia’s private sector is overwhelmingly driven by small and medium-sized enterprises (SMEs), which account for an estimated 70–80 percent of employment nationwide, according to development partners.
However, many of these businesses struggle with limited access to finance, unreliable electricity, poor road infrastructure, and delayed government payments.
A Generational Transition in Business Leadership
Commending the young Liberian currently managing Uptown Motor Garage on behalf of his family, the President described the transition as a positive example of generational continuity in business leadership.
“It is inspiring when young people build on the vision and sacrifices of their parents,” Boakai said. “That continuity strengthens confidence in Liberian entrepreneurship and proves that our businesses can endure.”
Uptown Motor Garage’s expansion into vehicle sales comes amid rising demand for reliable transportation in Liberia, where commercial transport remains essential for trade, mining, agriculture, and urban mobility.
Industry analysts estimate that Liberia imports thousands of used and new vehicles annually, with the sector valued in the tens of millions of U.S. dollars.
SMEs Versus Mega Concessions
Drawing comparisons between large concessionaires such as ArcelorMittal and Bea Mountain Mining Corporation and smaller Liberian-owned enterprises, President Boakai acknowledged the importance of major foreign investors but stressed the broader social impact of local businesses.
“Big companies employ many people, but the combined impact of hundreds of Liberian-owned businesses often reaches more households, more communities, and more counties,” he said.
Mining concessions remain among Liberia’s largest employers and export earners, yet economists note that SMEs play a critical role in poverty reduction, especially in urban centers like Monrovia where youth unemployment remains high.
Government’s Role: Infrastructure and Fair Payments
President Boakai emphasized that business success is inseparable from government responsibility, citing roads, electricity, and security as foundational to private-sector growth.
Liberia continues to face an electricity access rate of less than 30 percent, one of the lowest in West Africa, while infrastructure deficits add significant costs to local businesses.
He also cautioned against delayed payments to Liberian companies, warning that unpaid obligations can cripple SMEs that lack financial buffers.
“Delayed payments kill small businesses,” the President said. “When SMEs collapse, jobs disappear, families suffer, and confidence in the economy erodes.”
Finance, Confidence, and National Pride
The President praised financial institutions that support Liberian-owned enterprises, describing them as essential partners in economic transformation.
He disclosed that the government will continue identifying and recognizing businesses that demonstrate innovation, professionalism, and national commitment.
Uptown Motor Garage’s new showroom, he said, reflects rising standards in customer service and technical professionalism, helping to shift perceptions about locally owned enterprises.
As Liberia works to diversify its economy beyond extractive industries, President Boakai reaffirmed his administration’s commitment to policies that protect investments, improve infrastructure, and create a more predictable business environment.
“Successful Liberian-owned businesses are symbols of what we can achieve as a nation,” he concluded.
“They inspire others to invest, to innovate, and to believe in Liberia.”
The event concluded with public tours of the showroom and renewed calls for citizens, financial institutions, and government agencies to align behind the national vision to “Think, Love, and Build Liberia.”
