–President Says Ghanaian Bank’s Entry Reflects Growing Confidence in Liberia’s Investment Climate, Pledges Secure Environment for Regional Investors
MONROVIA, Liberia – President Joseph Nyuma Boakai, Sr. has called on Africans to take greater ownership of the continent’s economic transformation, declaring that Africa’s long-term prosperity will depend on Africans investing in and building African economies rather than waiting for others to do so.
Speaking on Friday, July 31, during the official commissioning of First Atlantic Bank Liberia at the bank’s headquarters on 9th Street, Sinkor, President Boakai described the Ghanaian-owned bank’s entry into Liberia as more than the opening of another financial institution. He said it represents a powerful vote of confidence in Liberia’s improving investment climate and a significant milestone in regional economic integration.
“If Africa is going to be built, it has to be built by Africans,” President Boakai declared.
“If you don’t have confidence in your own economies, who do you expect to have that confidence?”
The President said the decision by First Atlantic Bank’s Ghanaian shareholders to establish operations in Liberia sends a strong signal that serious African investors recognize the country’s economic potential and are prepared to participate in its recovery and long-term development.
A Vote of Confidence in Liberia
Boakai praised the investors behind First Atlantic Bank for demonstrating confidence through action rather than rhetoric.
He said the bank’s arrival reflects increasing regional confidence in Liberia’s economic direction under his administration and aligns with the government’s broader agenda of attracting credible private investment.
“This is not about promises,” the President said.
“It is about investors who have looked at Liberia and decided that this is a country worth investing in.”
He assured the bank’s management that his administration would continue implementing reforms aimed at improving the business climate while guaranteeing the security necessary for businesses to thrive.
“Africans can trust one another to come and do business, and we want to assure you that our government will work with you to make sure that you succeed,” Boakai emphasized.
Investment Climate Improving
President Boakai said Liberia is steadily creating the conditions necessary to attract long-term domestic and international investment.
He pointed to encouraging economic assessments from both the Central Bank of Liberia (CBL) and the Ministry of Finance and Development Planning, which he said demonstrate that the country’s macroeconomic environment continues to improve.
His comments come amid recent signs of greater economic stability, including declining inflation, stronger domestic revenue performance and continued reforms within Liberia’s financial sector. The Central Bank has also highlighted improvements in monetary conditions and financial sector modernization as part of its ongoing reform agenda.
“Liberia is now moving in a very serious way,” Boakai said.
“We are opening up the country and putting in place the conditions that make this environment conducive and attractive for investment.”
Strengthening African Economic Integration
The President used the occasion to emphasize the longstanding relationship between Liberia and Ghana, describing the bank’s expansion as another example of growing economic cooperation between African nations.
He expressed confidence that stronger commercial partnerships among African countries will play an increasingly important role in driving continental development, especially under the framework of the African Continental Free Trade Area (AfCFTA), which seeks to deepen intra-African trade and investment.
Boakai said African entrepreneurs and financial institutions should increasingly look to neighboring countries for investment opportunities rather than relying exclusively on capital from outside the continent.
First Atlantic Bank Expands Beyond Ghana
The launch marks First Atlantic Bank PLC’s first expansion outside Ghana after receiving regulatory approval from Liberian authorities earlier this year.
The bank has described its entry into Liberia as part of a broader strategy to become a leading regional financial institution while supporting trade, entrepreneurship and financial inclusion across West Africa. It also plans to introduce technology-driven banking services and leverage its experience in digital banking to serve Liberian customers.
Founded in Ghana, First Atlantic Bank has built its reputation around retail, corporate and digital banking services and has publicly stated its ambition of becoming “a global bank out of Ghana.”
Supporting Liberia’s Development Agenda
The commissioning of First Atlantic Bank comes as the Boakai administration continues to promote private-sector investment as a central pillar of its ARREST Agenda for Inclusive Development (AAID).
Government officials have repeatedly argued that expanding access to finance, strengthening the banking sector and encouraging regional investment will be critical to creating jobs, supporting entrepreneurship and accelerating economic growth.
Analysts note that the arrival of another commercial bank could increase competition within Liberia’s financial sector, expand consumer choice and improve access to financial services for businesses and households.
For President Boakai, however, the significance of the occasion extended beyond banking.
He portrayed the launch as evidence that confidence in Liberia is growing—and that Africans themselves must lead the continent’s economic renaissance.
“If Africa is going to prosper,” he suggested, “its people must be prepared to invest in one another.”
For breaking news, in-depth analysis, and exclusive reports from Liberia and around the world, follow The Liberian Post on Facebook (https://web.facebook.com/profile.php?id=61576017166570) and X, formerly Twitter (https://x.com/LiberianPost).
