Liberian News: Ex-President Sirleaf Cuts The Ribbon

Monrovia-Liberia, under the leadership of President Joseph Boakai, is providing an opportunity to visionary Liberians to invest in all sectors as a means of boosting the country’s economic growth and empowerment.

Counsellor George B. Kailondo is one of those Liberians focused on the empowerment of Liberians. He established the Microfinance Institution in 2014, aiming to enable Liberian businesses, vendors, as well as ordinary Liberians, to access funding intended to stimulate economic growth and accelerate trade.

Speaking during the cutting of the ribbon of the entity’s office located in Congo Town recently, former President Ellen Johnson Sirleafdescribed such a venture as laudable as she officially declared the Savings & Loans Microfinance Deposit-Taking Institution open.

Ex-President Sirleaf said such initiative of Cllr. Kailondo is purely giving back to Liberians and Liberia through the establishment of the Modern Savings & Loans Microfinance Deposit-Taking Institution.

She indicated that there is a need for a robust private sector to serves as a machine for economic growth and the creation of job opportunities.

Speaking of such empowerment, Chief Executive Officer Cllr. Kailondo said the modern Savings & Loan Microfinance Deposit-Taking Institution is committed to drastically reducing interest rates and also breaking away from the century-old traditional credit system that put-upon businesses and made to develop and grow their businesses.

Interest rates by Banking and financial institutions are estimated at over 18 percent, which the Modern Savings & Loans Microfinance Deposit-Taking Institution promised to reduce below ten percent to enable its customers to develop and grow their businesses.

The event was attended by the Central Bank of Liberia and top senior government officials, including Members of the National Legislature and the business Community. and made remarks lauding the initiative and pledging their support.

Mark Neywon Mengonfia