Liberian businesswomen petition legislature over import delays
Traders cite three to six-month shipping times and high bank charges as threats to local enterprises.
Liberian businesswomen plan to petition the Legislature on Capitol Hill on Tuesday, November 3, to seek intervention against challenges threatening local businesses. The group, the Consortium of China Importing Businesswomen United, highlighted prolonged import delays, high bank charges, excessive taxation, weak enforcement of the Liberianization Policy, and unfair foreign competition.
Shipments from China now take three to six months to reach Liberia, tying up capital and disrupting operations, according to the businesswomen. They also complained about high bank interest rates and short loan repayment periods, urging the Central Bank of Liberia to mandate a minimum 90-day grace period for loan repayments.
The traders called for a review of the tax regime due to rising shipping costs and rents, and demanded stronger enforcement of the Liberianization Policy against foreign traders selling similar products at lower prices. The Senate also summoned port stakeholders on November 3 regarding delays at the Freeport of Monrovia.
Why it mattersLiberian-owned businesses face closure due to import delays, high costs, and unfair competition.