Liberia Honors Adesina’s Legacy of Transformational Investment.

Friday 25th July 2025

By inAfrika Reporter

Liberian President Joseph Boakai convened a rare full-spectrum gathering of national leadership in Monrovia to honor African Development Bank President Dr. Akinwumi Adesina. The occasion was both a tribute to Adesina’s decade of leadership and an opportunity to share insight on the Bank’s long-standing partnership with Liberia. The setting an expanded cabinet session involving all three branches of government reflected the national weight of the moment.

President Boakai was direct in his praise. “Your legacy in Liberia is strong and enduring,” he told Adesina. “You have shown that bold ideas, when combined with clarity and determination, produce extraordinary results.” He spoke not just as a head of state but as a witness to a relationship that has transformed Liberia’s development landscape.

Since 1967, the African Development Bank has invested over $1 billion in Liberia across 72 projects. These include energy transmission lines connecting Liberia to neighboring countries, new roads like the Karloken to Fish Town corridor, and the Liberia Energy Efficiency and Access Project which brought electricity to tens of thousands of homes. President Boakai made clear that these investments are more than statistics they are tangible improvements in daily life.

A highlight of the gathering was the official launch of the Liberia Youth Entrepreneurship Investment Bank. Though youth-focused in intent, the bank is positioned as a strategic investment vehicle to strengthen Liberia’s small business sector. It is the first such institution of its kind on the continent. Supported by $17 million in initial financing, the bank will equip aspiring entrepreneurs with capital and training to build viable businesses in sectors from agriculture to tech.

In his keynote, Adesina framed his message under the theme “Liberia: Arise, and Shine!” He used the platform to share a seven-point framework for transformative governance, drawn from his experiences as a Nigerian cabinet minister and as head of one of the world’s leading development banks. His recommendations included measurable targets, institutional reform, and a call for accountability in public service. “Don’t just blow the whistle,” he said, “use your yellow and red cards. Reward performers, and remove non-performers.”

Adesina called for a “One Government” mindset where agencies work in unison, not in silos. He also urged the establishment of a presidential awards system to promote inter-agency collaboration. His tone was optimistic but firm. Liberia, he argued, has no excuse for underperformance given its vast resource base. “The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth.”

In dialogue with government ministers, Adesina highlighted the importance of vocational training and fiscal transparency. In response to questions from the ministers of education and information, he addressed how Liberia can better harness its youthful population and improve its investment climate. He pointed out that illicit financial flows cost Africa $88 billion annually revenue that could instead power local development.

Sannah Ziama, a Liberian entrepreneur, called for deeper investment in solar energy to drive industrial growth. Adesina responded with support for sustainable infrastructure that matches the country’s energy potential with its industrial ambitions.

President Boakai closed the meeting with a symbolic gesture, presenting Adesina with the Presidential Pin of Honour. It was a moment of gratitude but also a reminder of unfinished work. Liberia, Boakai stressed, is not just a recipient of aid but a partner in transformation.

Adesina was joined by senior Bank officials including Lamin Barrow and Rufus Darkortey, reinforcing the continuity of the institution’s engagement with Liberia. As the country looks toward a future of expanded opportunity, the legacy of investment and leadership that Adesina leaves behind will remain a cornerstone of its development path.