MONROVIA – The Head of Bukonjadeh Group of Companies, Elton John, has reaffirmed the company’s commitment to customer appreciation, privacy and responsible lending, describing customers as the foundation of its business and urging Liberians to support the growth of locally owned financial institutions.
By: Trokon S. Wrepue – trokon1992seokin@gmil.com
Speaking during the company’s Customer Week celebration in October, John said the initiative was designed to recognize clients whose continued patronage has sustained the institution since its establishment in 2008.
According to him, customers are not merely beneficiaries of the company’s services but the people who make its operations possible, describing them as the “real owners” of the business.
“Doing business with us is not our right; it is a privilege given to us by our customers,” John said, emphasizing that clients have several financial institutions to choose from and should never be taken for granted.
As part of the celebration, the company is providing breakfast and lunch for customers who visit its offices, creating an opportunity to interact with them and express appreciation for their loyalty over the years.
John said the company’s relationship with its customers has been built on trust and mutual respect, adding that Bukonjadeh considers the protection of clients’ personal information a critical responsibility.
He stressed that the company does not disclose customer information to individuals who visit its offices seeking confidential details, maintaining that protecting clients’ privacy is essential to sustaining public confidence in the financial sector.
Calls for Responsible Borrowing
Beyond customer appreciation, the Bukonjadeh executive used the occasion to raise concerns about loan repayment practices, which he said continue to challenge financial institutions in Liberia.
John acknowledged that non-performing loans are not unique to Liberia, noting that financial institutions in developed economies also face difficulties recovering borrowed funds. However, he urged borrowers to honor their financial commitments to prevent avoidable losses and strengthen the sustainability of lending businesses.
He said borrowers fall into different categories, including those who are willing to repay their loans and others who fail to meet their obligations, warning that irresponsible borrowing can undermine businesses and threaten employment.
According to John, when customers fail to repay loans, the consequences extend beyond the lending institution, potentially affecting employees, business operations and other customers who depend on continued access to financial services.
“We cannot keep doing the same thing continuously and expect different results,” he said, calling for a change in attitudes toward borrowing and repayment.
He argued that Liberians must take greater responsibility for building a stronger domestic business environment rather than allowing locally owned enterprises to struggle while foreign-owned institutions expand their presence in the country.
John challenged Liberian entrepreneurs to build competitive businesses capable of standing alongside established international financial institutions, stressing that the development of the national economy requires collective commitment from business owners, workers and customers.
Commends Central Bank’s engagement
The Bukonjadeh executive also praised the Central Bank of Liberia for organizing a recent conference that brought together financial-sector stakeholders to discuss challenges, including non-performing loans.
He described the gathering as an important opportunity for businesses to share their experiences and identify practical solutions to problems affecting the sector.
However, John emphasized that the conference would have a lasting impact only if its recommendations are implemented.
He expressed hope that the Central Bank would follow through on the discussions and ensure that the engagement produces meaningful changes rather than becoming another meeting without concrete results.
John said stronger collaboration among financial institutions, regulators and borrowers could help improve loan repayment, protect businesses and create a more sustainable environment for locally owned enterprises.
