Monrovia – The Liberian Senate has opened an investigation into allegations that foreign concession companies operating in the country are marginalizing Liberian-owned businesses, denying them opportunities for economic growth and empowerment.
During its 9th-day sitting on Tuesday, February 18, 2025, the Senate directed its Committees on Concessions and Investment, Land and Mines, and Judiciary to probe claims that these companies are engaging in business activities outside their primary mandates—effectively sidelining local enterprises.
The decision follows a formal communication submitted by Bomi County Senator Edwin Melvin Snowe, who sounded the alarm over what he described as blatant economic disenfranchisement. Senator Snowe, who chairs the Senate Committee on Hydrocarbon, Energy, and Environment, argued that despite legislative and contractual provisions guaranteeing local participation, Liberians remain excluded from key business opportunities.
Foreign Companies Expanding Beyond Their Mandates
In his submission, Senator Snowe singled out Bi-Chico Mining Company in Gbarpolu County, accusing it of expanding into trucking iron ore—a sector he believes should be reserved for Liberian-owned transportation companies. He noted that such encroachments deprive local businesses of opportunities that could contribute to job creation and the expansion of a middle-class economy.
The senator also took aim at Bea Mountain Mining Company in Grand Cape Mount County, alleging that it has monopolized several service sectors. He accused the company of not only operating its own petroleum storage tanks and importing thousands of metric tons of petroleum products but also entering the transportation sector and even the mineral water production business.
“These activities directly compete with Liberian businesses, leaving our entrepreneurs struggling to survive,” Senator Snowe stated. “If left unchecked, these companies will continue to tighten their grip on our economy, reducing Liberians to mere spectators in their own country.”
A Challenge to the Liberianization Policy
Senator Snowe emphasized that these alleged practices contradict the Liberianization Policy, which aims to prioritize local participation in key economic sectors. He warned that allowing concessionaires to dominate service industries meant for Liberian entrepreneurs undermines national development and weakens the economic foundation of local businesses.
“It is deeply concerning to see these companies assuming control over essential service industries, including the transportation of iron ore and petroleum products, as though no Liberian-owned company is capable of executing these tasks,” he stressed.
The Senate has mandated its committees to thoroughly investigate the allegations and report back with findings and recommendations. Lawmakers are expected to deliberate on measures to ensure that Liberian businesses are not sidelined in the economic activities of concession companies.
As the probe unfolds, business owners and economic stakeholders will be watching closely, hoping for concrete actions that protect local enterprises and ensure fair competition in Liberia’s economy.
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