• Honorable Minister Magdalene E. Dagoseh,

• Distinguished representatives from the Ministry of Commerce & Industry,

• Esteemed partners from UBA Liberia, Ecobank, Bloom Bank Africa, and International Bank Liberia,

• Fellow development partners (Embassy of Sweden, European Union), entrepreneurs, and guests, 

It is a great honor to join you today for the official launch of Cohort V of the Growth Accelerator Liberia Programme. This is a milestone that reflects our shared commitment to inclusive economic growth and sustainable development in Liberia.

Since its inception in 2020, this programme has stood as a beacon of hope and opportunity for Liberia’s micro, small, and medium enterprises. With the support of UNDP and in close collaboration with the Ministry of Commerce & Industry and our implementing partners, we have empowered over 110 MSMEs across four cohorts, each one a testament to the resilience, creativity, and determination of Liberian entrepreneurs.

Today, we also unveil the Impact Study Report, which highlights the tangible progress we’ve made together. From job creation and increased revenues to improved access to finance and markets, the results are clear: when we invest in local businesses, we invest in Liberia’s future.

MSMEs are the backbone of Liberia’s economy, accounting for over 80% of economic activity and employing more than 90% of the labor force. They are not just businesses; they are engines of innovation, job creation, and poverty reduction. They are led by women and youth, who represent the vibrant majority of Liberia’s population and the future of its economy.

Yet, these entrepreneurs face persistent challenges: limited access to finance, inadequate infrastructure, low managerial capacity, and fragmented markets. Despite these hurdles, they continue to innovate and persevere.

Let me highlight a few inspiring examples:

• Redimere Inc., producing “Made in Liberia” chocolate from local cocoa, now competing on international shelves.

• Wungko’s Farm, transforming local agriculture through integrated meat processing and feed production.

• Nimba Women Venture, empowering over 100 women through cassava processing.

• The Lunchbox, delivering healthy meals to Monrovia’s workforce.

• Zaag Naturals, blending organic health products with creativity.

These are not just success stories, they are proof that Liberian MSMEs, when supported, can thrive and lead.

This programme is more than a funding mechanism; it is a platform for transformation. It brings together public and private sector actors, development partners, and civil society to create an enabling environment where innovation can flourish. The renewal of our Memorandum of Understanding today reaffirms this powerful coalition and our collective vision for a more inclusive and prosperous Liberia.

To the entrepreneurs joining Cohort V: you are the heartbeat of this initiative. Your courage to dream, to build, and to lead is what drives this programme forward. UNDP remains committed to walking this journey with you, providing not just financial support, but also mentorship, training, and access to networks that will help your businesses grow sustainably.

But we cannot do this alone. Today, I issue a rallying call to the Government of Liberia, our financial institutions, and fellow development partners:

Let us come together to scale up our financial support for this programme. Let us take concrete action to strengthen Liberia’s private sector, empower its entrepreneurs, and reduce poverty across our communities. Every dollar invested in an MSME is a step toward a more resilient, inclusive, and self-reliant Liberia.

We must:

• Expand access to catalytic financing and innovation grants;

• Prioritize women- and youth-led enterprises in all MSME support initiatives;

• Support digitalization, innovation hubs, green businesses, and local content development;

• Integrate entrepreneurship into education and training systems;

• And remove the structural barriers that limit MSME growth.

When we invest in young people and women today, we lay the foundation for a more equitable and prosperous Liberia tomorrow.

Let us match the ambition of our entrepreneurs with the resources they need to thrive. Let us build a future where Liberian businesses are not just surviving, but thriving, innovating, and leading the way.

Thank you, and congratulations to all.