-With Focus on Unlocking Trade Potential
By Jerromie S. Walters
Monrovia, Liberia – March 20, 2025** – In an event aimed at boosting regional trade and economic integration, Oakwood Green Africa, in collaboration with the Intra-Africa Trade Fair (IATF) Secretariat of the African Export-Import Bank (Afreximbank), and in partnership with Liberia’s Ministry of Commerce & Industry, Ministry of Finance & Development Planning, and the National Investment Commission, hosted the Intra-Africa Trade Fair Roadshow 2025 in Monrovia. The event, held under the theme “Bridging the Last Mile: Unlocking Liberia’s Intra-Africa Trade Potential,” brought together government officials, business leaders, and stakeholders to explore opportunities for trade-led growth and economic transformation.
The event, held at the Royal Grand Hotel, featured a series of presentations, discussions, and workshops focused on trade facilitation, investment promotion, and the role of the private sector in driving intra-African trade. Key highlights included remarks from Oakwood Green Africa’s Chairman and CEO, Mr. Gabriel Edgal, and Liberia’s Deputy Minister of Commerce and Trade, Mr. Wilmot T. A. Reeves, as well as a presentation on Afreximbank’s trade finance initiatives.
A Call for Trade-Led Transformation
In his opening remarks, Mr. Gabriel Edgal, Chairman and CEO of Oakwood Green Africa, emphasized the transformative power of trade in addressing Africa’s economic challenges. “Africans need to understand that trade is Africa’s solution, and Liberia has the potential to be a major player in this transformation,” he said. He urged Liberia to shift from being a consumer-driven economy to a production and export-oriented one, leveraging its strategic geographical location as a trade hub.
Edgal highlighted the importance of partnerships and investment in the processing industry to unlock Liberia’s economic potential. “The capacity to transform our nation lies within Africa. Through trade and collaboration, we can achieve sustainable growth,” he added. He also encouraged Liberian businesses to take advantage of digital trade platforms like the Africa Trade Exchange and the Africa Trade Gateway, which are designed to facilitate cross-border trade and investment.
“Grants alone do not build nations; production does,” Edgal asserted, calling on Liberians to prioritize industrialization and value addition. He described Oakwood Green Africa’s presence in Liberia as a defining moment for the country’s economic development and urged stakeholders to actively participate in the upcoming Intra-Africa Trade Fair (IATF) 2025.
Government’s Commitment to Trade Integration
Delivering the keynote address on behalf of the Minister of Commerce and Industry, Deputy Minister Wilmot T. A. Reeves underscored the importance of intra-African trade in driving Liberia’s economic transformation. “Intra-Africa trade remains one of the most underutilized opportunities on the continent, and Liberia is determined to play a leading role in changing this narrative,” he said.
Reeves highlighted the stark disparity between Africa’s intra-regional trade levels and those of other regions. “While intra-regional trade accounts for 60% of total exports in Asia and 70% in Europe, Africa lags behind at less than 20%. For Liberia, trade with African Continental Free Trade Area (AfCFTA) member states makes up less than 15% of our total exports,” he noted. He identified key exports such as rubber, timber, iron ore, and palm oil as having significant potential for diversification and value addition.
However, Reeves acknowledged the challenges facing Liberia’s trade sector, including limited access to financing, market access barriers, and trade facilitation bottlenecks. “Our SMEs, which constitute over 80% of Liberia’s businesses, face significant hurdles in accessing trade finance and integrating into regional supply chains,” he said.
To address these challenges, the Liberian government is implementing a series of measures, including investments in trade infrastructure, digital trade platforms, and policy reforms to harmonize standards with regional markets. “We are committed to creating an enabling environment for businesses to thrive in the AfCFTA era,” Reeves affirmed.
CBL’s Role in Strengthening Trade Finance
The Central Bank of Liberia (CBL) also reiterated its commitment to fostering a robust trade finance ecosystem and supporting private sector growth. Speaking on behalf of the CBL Governor, Mr. Mussah A. Kamara, Senior Research Advisor, emphasized the critical role of trade finance in driving economic growth. “SMEs, which account for over 80% of Liberia’s economic activity, face significant challenges in accessing affordable credit and cross-border payment solutions,” he said.
Kamara outlined the CBL’s strategic priorities, including enhancing financial inclusion, promoting fintech adoption, and strengthening regional financial cooperation under the Economic Community of West African States (ECOWAS) and AfCFTA frameworks. “We are working with commercial banks to increase SME lending and encouraging the adoption of digital banking solutions to ease trade transactions,” he stated.
He also highlighted the opportunities presented by Afreximbank’s initiatives, such as structured financing solutions, trade finance guarantees, and the Africa Trade Gateway (ATG) digital platform. “These tools can help Liberian businesses expand into regional markets and improve their competitiveness,” Kamara added.
The event concluded with a call to action for Liberian businesses to actively participate in the upcoming Intra-Africa Trade Fair (IATF) 2025, which is expected to unlock an estimated $44 billion in trade and investment deals.
