Monrovia, Liberia–The United Nations Development Programme (UNDP) Growth Accelerator Liberia Programme has hosted its 4th cohort pitching and selection event for 28 MSMEs contesting the entrepreneurship and agriculture categories, says a UNDP press release today, Monday, September 2, 2024.
The event, which was held on August 29th and 30th at a local hotel in Monrovia, brought together thoughtful entrepreneurs, agriculturists, government, and development partners from across Liberia who share a common interest in practical solutions for sustainable development.
In his opening remarks, UNDP Liberia Resident Representative a.i Anthony Ohemeng-Boamah reassured the agency’s commitment to empowering local entrepreneurs, particularly women and youth through the Growth Accelerator.
He said this programme has proven to be a transformational initiative that provides resources, mentorship, and networking opportunities for Liberian MSMEs.
Ohemeng-Boamah noted that MSMEs contribute to economic growth and job creation in Liberia and have enormous potential to reduce poverty and enhance gender equality.
He encouraged entrepreneurs to build resilient businesses that adapt to current challenges, including climate change.
Twenty (20) businesses out of 28 semi-finalists emerged as the winners of grants in various categories. Five won $40,000, eight (8) in the category for $20,000 and seven (7) in the category for $10,000.
Delivering the closing remarks, the proxy for the Minister of Commerce and Industry (MOCI), Merisco N. Davis encouraged those who did not win to keep working hard and to the winners, he encouraged them to stay focused on their businesses.
UNDP Liberia’s Deputy Resident Representative for Programme, Louis Kuukpen said the programme manifests efforts that bring economic solutions and supports the creation of resilient livelihood and income-generating opportunities for the poor and vulnerable population.
Kuukpen expressed gratitude to partners and the government supporting this initiative through the MOCI. He also thanked the Growth Accelerator Programme brand ambassador Josephine Kolubah.
The United Bank for Africa (UBA) Head of Marketing and Corporate Communication, Chidi Anaba acknowledged UNDP’s support of this programme noting that UBA and other banking partners will support the winners easily access loans.
The Growth Accelerator Liberia Programme is an initiative that supports impactful entrepreneurs and agricultural cooperatives’ scale-up through access to technical assistance, mentorship and a co-financing grant.
This year’s programme primarily focused on accelerating Liberian MSMEs and Agricultural Cooperatives to strengthen business and cooperative development services by promoting access to finance, capacity-building, and innovation responsive to the rights and needs for the economic advancement of women, youth, and People with Disabilities (PWDs).
In its fourth year, the Growth Accelerator Programme received 114 applications across 9 counties in three funding categories.
Seventy-seven applicants for USD 40,000, 21 applicants for USD 20,000 and 16 applicants for USD 10,000.
Forty-three (43) applicants were selected by an independent selection committee across the 3 categories to compete in the finals after an extensive due diligence selection process.
UNDP Growth Accelerator Liberia is implemented in partnership with the Ministry of Commerce and Industry and Accountability Lab (iCampus), with support from the European Union in Liberia and the government of Sweden.