The cabinet has approved the national work plan for the implementation and enforcement of the Beneficial Ownership (BO) Registry. The approval was made on Wednesday during the Cabinet meeting called by his Excellency President Joseph Nyuma Boakai Sr. The meeting focused on strengthening the economy, advancing fiscal reforms and driving key governance priorities. The approval fulfills a key benchmark under the International Monetary Fund’s (IMF) Extended Credit Facility (ECF) program, which requires the cabinet’s approval of the BO Registry work plan. The approved work plan sets a strategic roadmap for ensuring effective implementation of the registry, which will enable the identification and public disclosure of individuals who ultimately own or control companies and other legal entities operating in Liberia. In August 2023, Liberia published new beneficial ownership regulations requiring all domestic companies to report detailed information about their beneficial or ultimate owners, including names, addresses, and ownership stakes. In alignment with these reforms, the government launched the preliminary version of the Beneficial Ownership Register, with active collaboration from the Liberia Business Registry and the private sector to test and refine the system. The registry is part of Liberia’s broader anti-corruption strategy and aligns with international best practices, helping to enhance investor confidence and public trust in government institutions. The implementation phase will include ongoing technical improvements, stakeholder training, and compliance monitoring to ensure wide adoption and data accuracy. Public access to the registry will provide critical information to regulators, civil society, journalists, and the general public, further advancing the country’s transparency goals. END “Mainland Group Announces USD 100 Million Investment in Liberia’s Agriculture Sector The Mainland Group, a leading Chinese firm with extensive investments across Africa, has announced a significant USD 100 million initiative to revitalize Liberia’s agriculture industry. This statement was delivered by Mr. Zhu Chen, President and CEO of the firm, during a live press conference held at the Ministry of Agriculture. The investment will focus on six strategic areas: cassava processing for starch, rice processing facilities, cocoa processing to add value to locally grown beans, coffee processing, a sugar refinery with sugarcane plantation development, and warehouse/logistics infrastructure near port areas. Mr. Zhu plans to open a rice processing plant at a 1,000-hectare site in Fuamah, Bong County, by September or October 2025, to help farmers access markets. A cassava processing facility is also planned. Cocoa processing will start in February or March next year, adding value to a crop currently exported raw. Coffee processing will run alongside cocoa, and sugar production aims to reduce Liberia’s imports, with plantations supplying the refinery in two years. “All of these projects will increase farmers’ income by 20 to 30%. Our target is to engage more than 150,000 ordinary farmers in the next five years. Additionally, we will expand the industry and plantations year by year, growing our own plantations and those of the communities,” said Mr. Zhu. The detailed investment breakdown includes: Rice – Asset: USD 2M; Working Capital: USD 10M Cassava – Asset: USD 2M; Working Capital: USD 10M Cocoa – Asset: USD 5–7M; Working Capital: USD 50M Coffee – Asset: USD 2M; Working Capital: USD 8M Sugar Refinery – Asset: USD 8–10M; Working Capital: USD 15–20M Warehousing & Logistics – Asset: USD 7M; Working Capital: USD 3M This amounts to USD 26 to 28 million in assets and USD 60 to 70 million in working capital, leading to a total investment of USD 100 million. Minister J. Alexander Nuetah welcomed the announcement, calling it a major boost for Liberia’s food security and rural incomes. “The vision is to scale up production so our farmers can earn better incomes and improve their livelihoods. This investment will help address offtaking, one of our biggest challenges,” Minister Nuetah said. “The Mainland Group’s investment will create market access for farmers, especially in rice production, which remains a national priority”. Minister Nuetah also revealed that the Chinese Government has pledged an additional 16 agricultural machines, bringing the total to 304 units, including tractors and diesel generators for Liberia’s mechanization centers. Delivery is expected by October, pending completion of the service centers. The Mainland Group, with several factories across Africa, including five in Côte d’Ivoire producing 450,000 tons of rubber annually, has investments in Tanzania, Malawi, Uganda, Zambia, and Mozambique. Currently, the company is leveraging its agro-industrial expertise in Liberia to generate jobs, expand markets, and enhance food security.”
