Monrovia, Liberia — July 23, 2025–In a vibrant ceremony at the Ellen Johnson-Sirleaf Ministerial Complex, the Government of Liberia, alongside the United Nations Development Programme (UNDP), key financial institutions, and international development partners, unveiled Cohort V of the Liberia Micro, Small, and Medium Enterprises (MSMEs) Growth Accelerator Program on July 22, 2025.
This milestone signals a renewed push toward economic diversification and private sector empowerment in Liberia.
The event, attended by policymakers, business leaders, donors, and emerging entrepreneurs, underscored Liberia’s dedication to fostering a resilient economy built on local innovation and inclusive development.
Speaking at the launch, Deputy Minister for Commerce and Trade, Wilmot A. Reeves, hailed MSMEs as “the backbone of Liberia’s economy,” aligning the initiative with the government’s broader ARREST Agenda for economic transformation.
Expanding Opportunity Through Strategic Partnerships
The Accelerator Program, managed by iCampus Liberia and fiscally sponsored by Accountability Lab Liberia, has demonstrated tangible success since its inception in 2021.
Partnering with respected Business Development Service Providers including AgroTech Liberia, Business Startup Center Monrovia, GrowthAfrica, and the East Africa Market Development Associates, the initiative offers mentorship, training, and financial support to Liberian entrepreneurs.
This year’s launch included the renewal of Memoranda of Understanding with four major financial institutions, International Bank Liberia Limited (IBLL), United Bank for Africa (UBA) Liberia, Bloom Bank Africa, and Ecobank Liberia Ltd. It solidifies their role as strategic investment partners committed to bolstering Liberia’s entrepreneurial ecosystem.
International Support for Sustainable Development
The program also attracted significant international backing. The European Union Delegation to Liberia and the Swedish Embassy in Monrovia announced continued support through the Community-Based Forest Management Project and the LEH GO GREEN Project, respectively. These contributions reflect a unified vision of environmentally conscious and inclusive economic growth.
UNDP Liberia’s Resident Representative, Aliou Dia, emphasized the program’s role in unlocking potential among Liberia’s youth and women. “Empowering women and youth remains central to our efforts. Our partnership with Liberia’s entrepreneurs is a testament to our shared vision for a resilient, self-reliant nation,” he stated.
Transforming Vision Into Reality
Since its debut, the Growth Accelerator Program has received hundreds of applications from businesses across Liberia’s counties.
Previous cohorts saw selected businesses receiving grants of $40,000 each, with an increasing focus on agriculture and cooperative development. The expansion of partnerships and funding sources highlights the program’s growing influence and long-term sustainability.
UBA Liberia’s Managing Director and CEO, Mr. Ayokunle Olajubu, echoed these sentiments. “This is an exciting chapter for Liberia. We’re committed to helping entrepreneurs scale beyond SMEs and make a lasting impact in their industries and communities,” he said.
Looking Ahead
With Cohort V officially underway, Liberia has reaffirmed its dedication to nurturing local businesses, especially those led by young people and women. The program stands as a dynamic model for how strategic partnerships and grassroots innovation can drive sustainable development.
As the country continues to harness the power of its private sector, Liberia’s MSMEs Growth Accelerator Program offers not just funding, but a pathway to prosperity, one entrepreneur, one idea, one success story at a time.