NATIONAL NEWS
MONROVIA – In a major step toward fulfilling his administration’s development agenda, Joseph Nyuma Boakai has issued Executive Order No. 158 establishing the Liberia Corporation for Strategic Investment (LCSI).
According to an Executive Mansion release, the newly formed corporation—designated as a Special Presidential Project—will serve as the principal vehicle for implementing a Strategic Partnership Agreement between the Government of Liberia and Afriland First Holding.
President Boakai stated that the LCSI is intended to “give full effect to the Government’s commitment to sustainable economic transformation, enhanced resource mobilization, and inclusive national development.”
By: Rufus Divine Brooks Jr
A key feature of the LCSI is its unique ownership structure, designed to ensure nationwide benefit. The Government of Liberia will hold an 80 percent majority stake. Notably, 60 percent of the government’s equity—representing 48 percent of the total corporation—will be distributed equally among Liberia’s fifteen counties, granting each county a four percent direct stake in the corporation.
The central government will retain the remaining 20 percent of the state’s shares, while Afriland First Holding will hold a 20 percent ownership interest.
The Executive Order further mandates that at least 10 percent of Afriland’s shares be made available for public and institutional participation, including commercial banks, insurance companies, and other qualified entities.
The LCSI has been assigned a broad mandate targeting critical sectors of the national economy. Its core responsibilities will include:
- Mobilizing domestic and international financing for strategic projects
- Establishing rural micro-structures to stimulate local economic growth and job creation
- Promoting agricultural self-reliance and national food security, particularly rice production
- Facilitating the construction and rehabilitation of military barracks and other public infrastructure
- Conducting feasibility studies, advancing policy research, and driving digital transformation
The corporation will operate under the supervision and coordination of the Office of the Minister of State without Portfolio, which will serve as the focal point for presidential oversight.
Governance and strategic direction will be provided by a Board of Directors comprising representatives of both the Government and Afriland First Holding, with a stated commitment to transparency, accountability, and full compliance with applicable laws.
To support its international operations, the LCSI will enjoy specific rights and immunities outlined in the Partnership Agreement, including certain tax exemptions. The Chief Executive Officer and key technical staff will also be granted diplomatic privileges to facilitate international cooperation and financing.
The Minister of State without Portfolio has been directed to immediately commence the establishment of the corporation. Key directives include launching pilot projects in rural development, agriculture, and infrastructure within twelve months, and collaborating with relevant ministries to prepare for legislative ratification.
