Africa-Press – Liberia. By Lincoln G. Peters
Monrovia, April 20, 2026: President Joseph Nyuma Boakai on Friday described the Sethi Group of Companies’ steel manufacturing expansion and new recycling plant as a major investment that could create thousands of jobs and help strengthen Liberia’s economy.
Boakai spoke during a tour and ribbon-cutting for the company’s Phase II Steel Plant project and recycling plant in the Jamaica Road community on Bushrod Island, where he said the new facilities would expand industrial activity and open employment opportunities for Liberians.
“This is not just about investment; it is about improving people’s lives, equipping them with skills, building their confidence, and strengthening the economy,” Boakai said. “This is a huge investment, and we want to say thank you.”
He said the company’s industrial investments are helping to increase economic activity and are already contributing to the livelihoods of Liberians.
Boakai also pledged government support for businesses that operate within Liberia’s laws and contribute to national development, saying such investments should deliver benefits beyond profit.
“From what I see here—the cement business and other activities—this means jobs and income for our people,” he said. “You are creating opportunities not only within your company, but also for others through distribution and related businesses…. The stronger this investment becomes, the better it will be for you, your children, and the future of this country.”
Sethi Group Managing Director Jay Sethi said the Phase II expansion is expected to create more than 4,000 direct jobs within two years, while the company continues its corporate social responsibility initiatives.
He said the company currently employs more than 2,500 people and has created more than 500 indirect jobs in the steel scrap sector, which he said supports economic activity and environmental sustainability. “Liberia is more than just a place of business; it is my family’s home, and we have lived in this country for over 50 years,” Sethi said.
Indian Ambassador to Liberia Manoj Bihari Verma commended the Liberian government for an enabling environment for private-sector growth and for strengthening bilateral relations between Liberia and India.
Verma said Indian-owned businesses continue to play a significant role in Liberia’s economy and reaffirmed India’s commitment to deepen cooperation through capacity building, trade and investment. He also praised the Sethi Group for its continued contribution to Liberia’s economic development.
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