Grigsby Highlights African Bank’s Role In Boosting Continental Trade
By Laurina B. Lormia
The Minister of State for Presidential Affairs, Sylvester M. Grigsby has commended the African Bank for its pioneering contributions to the growth of intra-African trade and economic integration.
Speaking on the sidelines of a high-level trade and investment forum, Minister Grigsby revealed that the African Bank has injected over US$180 billion into African economies to support trade development, with Nigeria alone receiving an estimated US$50 billion in strategic investments.
“The scale of support from the African Bank is truly remarkable and instrumental in laying the foundation for deeper continental trade ties,” he said.
He emphasized Liberia’s longstanding commitment to regional integration, particularly through its active role in establishing the Mano River Union and participating in the Economic Community of West African States (ECOWAS).
He noted that as Africa advances into the era of the African Continental Free Trade Area (AfCFTA), Liberia is positioning itself to climb the value chain by investing in manufacturing and adding value to its exports.
“We are no longer content with merely exporting raw materials. We are now focusing on value addition and industrialization, which are crucial for sustainable economic growth,” he explained.
Grigsby also highlighted President Joseph Boakai’s keen interest in ensuring that Liberia is not left behind in the global wave of digital transformation and innovation. “We are actively working with our neighbors and stakeholders to digitize the country and improve access to information and data, which is essential for competitiveness in today’s economy,” he added.
Grigsby highlighted a growing interest from investors across the continent in Liberia’s market. “We are seeing more Africans, especially from Nigeria, Ghana, and Sierra Leone coming to invest in Liberia. This signals a positive trend toward stronger intra-African economic ties and knowledge exchange,” he stressed.
He concluded by reaffirming Liberia’s commitment to advancing regional collaboration and leveraging Africa’s collective strengths to foster economic resilience and shared prosperity.
