MONROVIA–The Bureau of State Enterprises (BSE) has announced the validation of a comprehensive five-year strategic plan aimed at strengthening the governance, accountability, efficiency, and financial sustainability of Liberia’s state-owned enterprises (SOEs).
The entity is said to be transitioning into the State-Owned Enterprises Authority of Liberia (SEAL).
The strategic plan was validated Tuesday during a workshop in Monrovia attended by senior government officials, representatives of the European Union, leaders of state-owned enterprises, technical experts, and members of the media.
Speaking at the event, BSE Director General Theodore Momo described the reform agenda as a landmark initiative designed to modernize the management of state-owned enterprises through improved corporate governance, stronger fiscal oversight, enhanced operational efficiency, and results-based performance management.
According to Momo, the reforms are intended to position state-owned enterprises as stronger contributors to Liberia’s economic growth and national development.
He praised President Joseph Nyuma Boakai Sr. for placing SOE reform at the center of the government’s governance agenda, noting that the President’s leadership has aligned Liberia’s reform efforts with international best practices.
“The President has aligned Liberia’s SOE reform agenda with international best practices and global standards. His visionary and transformative leadership has elevated the reform process to an unprecedented level in our country’s history,” Momo said.
The Director General explained that the strategic plan will strengthen the institutional framework of the BSE as it transitions into SEAL by building technical capacity, reinforcing its regulatory mandate, improving accountability, increasing operational efficiency, promoting financial sustainability, boosting domestic revenue generation, supporting infrastructure development, and enhancing public service delivery.
Momo further noted that the strategy aligns with the Government of Liberia’s ARREST Agenda for Inclusive Development (AAID) and reflects collaboration among several government institutions, including the Ministry of Finance and Development Planning, the Ministry of State for Presidential Affairs, the Governance Commission, and the Law Reform Commission.
He said the partnership demonstrates Liberia’s growing capacity to develop and implement reforms that can drive sustainable national development.
Highlighting the importance of state-owned enterprises, Momo said they play a critical role in providing essential public services, creating employment opportunities, mobilizing domestic revenue, and supporting infrastructure development. He added that the newly validated strategy provides a clear roadmap for advancing reforms over the next five years.
The BSE Director General also acknowledged the contributions of former Director General Arthur Massaquoi, former Deputy Director Generals for Administration and Finance Varlee Sarnor, technical team leader Morris Dadoth, and other stakeholders. He further expressed appreciation to the European Union and other development partners for supporting the development of the strategic plan.
The validation of the five-year strategy marks another significant step in Liberia’s ongoing efforts to establish transparent, accountable, efficient, and financially sustainable state-owned enterprises capable of contributing meaningfully to the country’s development goals.
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