Africa-Press – Liberia. The Minister of Commerce and Industry (MoCI), Amin Modad, has said that he will not hesitate to resign if he does not get the requisite support, through the political will of the President and the financial and moral support of his cabinet colleagues, to implement the programs and overall vision of his ministry.
The MoCI is responsible for ensuring the growth and development of the country’s economy and international trade, as well as for promoting and supporting Liberian businesses through requisite policies and investments.
In a rather bold and unprecedented move, Modad said he would give no second thought to leaving his post if he did not receive the necessary support from the Executive as well as the Legislature to implement some critical initiatives geared towards creating economic growth and ensuring the functioning of a free market economy among others.
Minister Modad made this statement on Thursday, 4th April 2025, during his appearance to address critical issues relating to the Act that created Small Business Empowerment.
Minister Modad’s response was triggered by a question of whether his appointment as Minister was just for the “salaries”. In response, he vehemently rejected the idea, saying that he is opting to reform and transform the Commerce Ministry.
He expressed his disappointment and frustration over the allocation of US$256,000 in the 2024 budget to support Liberian businesses, which he described as a “drop in an ocean.” He maintained that the allocation contravenes his efforts to drive forward the government’s agenda, particularly in small business empowerment.
He emphasized the importance of cohesive support from both the President and the Legislature to effectively implement the Ministry’s agenda and programs that will benefit the country’s small business sector.Meanwhile, the Commerce and Industry Minister has assured the public of recusing himself from participating in all three businesses he owns, adding that he has already informed his wife to resume full management roles over the businesses.
The former National Chairman of the Unity Party underscored the vital role that small businesses play in driving economic growth and creating employment opportunities, stressing the need for robust support and cooperation.
Modad’s appearance before the Plenary was triggered by a communication from Nimba County District #7 Representative Musa Bility on the enforcement of the Small Business Empowerment Act (SBEA).
Bility wrote Plenary for amendment of “CHAPTER 29, OF THE MINISTRY OF COMMERCE AND INDUSTRY OF THE EXECUTIVE LAW, TITLE 12, LIBERIAN CODE OF LAWS REVISED” to establish “THE DEPARTMENT OF SMALL BUSINESS ADMINISTRATION.”
According to the Law, when passed by the Legislature, the Department shall be responsible for… control loan facilitation of MSMEs with particular focus and emphasis on Liberian-owned MSMEs; shall coordinate programs for small business development and entrepreneurship with funding for such purposes…; shall have the power to recommend and facilitate the provision of loans to Liberian-owned MSMEs through designated financial among others.”
The proposed law is currently before the Joint Committee on Commerce and Judiciary, which is expected to report next week.
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