The House of Representatives has Passed a Significant Law Establishing the Afriland Strategic Partnership

MONROVIA, LIBERIA: In a major step toward economic revitalization, the House of Representatives has officially enacted the Strategic Partnership agreement between the Government of Liberia and Afriland First Holdings, S.A.

The agreement ushered in a new era of collaboration aimed at boosting investment, education, and development across the country.

The passage of the law followed a detailed report and recommendations from the House Committee on Banking, Currency, and Insurance, Chaired by Representative Anthony Williams, of Maryland County, Pleebo Sodkan District #2.

The committee’s thorough review confirmed that Afriland First Holdings fully complies with Liberia’s financial laws and poses no legal or sovereignty risks.

The new law establishes the Liberia Corporation for Strategic Investment (LCSI), a joint venture in which the Government of Liberia holds an 80% stake and Afriland First Holdings retains a 20% stake.

This partnership is designed to mobilize critical financial resources, support education and human capital development, implement strategic projects across all fifteen counties of Liberia, and ensure accountability and inclusive management.

Key provisions of the agreement require the Ministry of Finance Development Planning to submit quarterly progress reports to the Legislature, ensuring transparency and regular oversight.

The partnership also mandates the inclusion of Liberian nationals in the management of LCSI and provides specific tax exemptions, excluding income and withholding taxes, as detailed in Chapter 3, Article 9 of the agreement.

Members of the Banking, Currency, and Insurance Committee hailed the law as a vital move toward economic revitalization, increased job opportunities, and enhanced financial inclusion throughout Liberia.

Upon concurrence from the Liberian Senate, the agreement will become fully operational. If approved, the partnership promises to be a transformative force in Liberia’s development landscape.