The Patriotic Entrepreneurs of Liberia is pleased to notified the general public, all business associations, Liberia business association, Liberia chamber of commerce, traders, marketers, foreigners partners & Embassies and all well-wishers that through an act of a Board resolution duly signed by members of the board/incorporators dated August 11,2017, it was resolved that Mr. Presley S. Tenwah be dismissed as acting chairman of PATEL.
The Government of Liberia through the Ministry of Finance and Development Planning (MFDP) has signed a US$4.8 million Participating Agreement (PA) and Approval of Withdrawal Request for the Micro, Small and Medium Enterprises (MSMEs) through the World Bank Rural Finance Post Ebola Reconstruction Project with GN Liberia Limited Bank and BRAC Liberia, among others. The signing will enable access to US$ 4.8 million grant from the World Bank intended to make funding available to MSMEs on sustainable terms, strengthen the capacity of Liberia’s private sector financial institutions and banks to lend profitably to Small Medium Enterprises (MSMEs).
The Incorporators, Executives, and Members of the Patriotic Entrepreneurs of Liberia (PATEL) officially wishes to express through this release that Mr. PRESLEY S. TEHWAH is no longer chairman of the organization as of the 11th day of August, 2017.
This action was agreed upon by a majority vote of the incorporators, executives, and members of the organization and was based on the below listed reasons. (more…)
Good Afternoon Madam President and all Officials of the three branches Government, the Clergy, the Press and fellow neglected and deprived Liberian small business owners.
We would like to start by commending The Hon. Min of Finance Boima Kamara and the Internal Auditing Agency for exposing the entrenched corruption at the Ministry of Finance and Development Planning (MFDP), especially the Private Sector Development Initiatives (PSDI) at MFDP which was meant to help struggling Liberian businesses to improve and not for crooks to quickly register new or fake businesses just to benefit from the loan and deprive real business people who needed it. The loan scheme itself was apparently created in secrecy behind closed doors in 2014. They were hiding it from us, the real business people, only for their friends and families to benefit. All this happened during the administration of former Minister Amara Konneh. Seemingly, he and his friend James Kollie, the then Deputy Minister shared the money mainly with Ministry of Finance officials, other government officials, their friends and families with bogus or fake businesses and certainly with no intention of paying back. In this regard, we strongly demand that former Minister Amara Konneh also be held accountable for his weak oversight.
Members of the 4th Estate
Members and affiliates of the Patriotic Entrepreneurs of Liberia (PATEL)
All well-meaning citizens of the Republic of Liberia
Distinguish Ladies and Gentlemen
We, the executives and officials of PATEL wish to use this medium to extend our heartfelt thanks and appreciations to our people in the business community firstly, for yielding to the call of your leaders in closing their businesses on day one of our go slow action. We also acknowledged the supports of the ordinary citizens who have embraced the concept of PATEL in liberating our citizens form economic stagnations, and the press for flagging our voices throughout these times.
Government has raised a red-flag warning leaders of business groups here against disturbing the peace and hindering of economic growth, saying such actions will not be tolerated.
“So we want to sound this alarm again to all of those who are planning the disturbance of our peace and the disturbance of economic growth top lease desist because the government will not tolerate any disturbance of the peace nor will we tolerate any activity that will hinder economic growth in our country”, chief government spokesman Eugene Nagbe said Friday, 31 March at Julijuah, Bomi County.
The National Chairman of Patriotic Entrepreneurs of Liberia (PATEL), Presley S. Tenwah, says the Common Extended Tariff of the Economic Community of West African States (ECOWAS) if amended by the Liberian Legislature would be a bad law that leaves Liberian businesses at a disadvantage because more Liberians are engaged in small businesses.
Tenwah said most of the goods Liberians trade in, such as used clothes and used cars, would not benefit from the ECOWAS Tariff. He expressed the concern on Monday during public hearing hosted by the House of Representatives on “An Act to Amend The Act Ratifying and Adopting the ECOWAS Common Extended Tariff (CET) as Amended”.
Despite efforts by the Liberia National Police and other security apparatus to dissuade a group of Liberian entrepreneurs from abandoning a planned protest, the aggrieved business owners say they will carry on the protest as planned.
State security officials are citing security risk as a basis to ditch the idea of holding the protests in Monrovia.
The planned protest comes on the eve of the start of voter registration for the 2017 presidential and legislative elections.
The protest action organized by the Patriotic Entrepreneurs of Liberia (PATEL in the demand of the reduction of the high rate of exchange between the United States Dollars and the Liberian Dollars has gained ground in Monrovia and its environs as businesses have closed, while commuters’ bid to move about their normal businesses has been seized as a result of the protest action.
The entire city of Monrovia has been locked down with the suspension of normal businesses as members of the PATEL trooped on Capitol Hill to submit their petition to the Liberian lawmakers on what they called Tattered Liberian Economy; with the continue increment of the exchange rate between the United States Dollars and the Liberian Dollars which currently stands at 1USD to 115LD.
Monrovia, Africa’s oldest capital city has been locked up with no semblance of business activities taken place as a result of the planned three days protest action by the Patriotic Entrepreneurs of Liberia (PATEL in demand of the reduction of the high rate of exchange between the United States Dollars and the Liberian Dollars.
“This is the first time for the City of Monrovia to be knocked down like this; all the stores and other business centers including supermarkets have been closed as a result of this protest. The Liberian Government must see reason to address the plight of its citizens,” words of David Daniels a residents of Monrovia speaking to our reporter noted.
As Liberians patiently wait for the expiration of this day, organizers of this protest have announced that it will continue for additional two days, if the Government fails to address their demands in handling the issue of the exchange rate between the United States Dollars and the Liberian Dollars.