Atlantic City, NJ – Cllr. J. Fonati Koffa, Speaker of the House of Representatives, delivered a forward-looking keynote address at the 50th Anniversary and Inauguration of the Union of Liberian Associations in the Americas (ULAA) over the weekend, urging the Liberian diaspora to evolve its role from political advocacy to becoming a driving force in Liberia’s economic transformation.
Addressing an audience of Liberians and friends of Liberia, Speaker Koffa lauded the pivotal role ULAA and the diaspora played in shaping Liberia’s political destiny during its darkest periods of dictatorship and civil conflict. Reflecting on the 1970s through the early 2000s, when the country was embroiled in instability and authoritarian rule, Koffa said, “In those dark times, ULAA and the larger Liberian diaspora became the beacon of hope. From afar, you were our champions—advocating for democracy, pushing for human rights, and calling for transparency when those values were absent at home.”
He recalled how the diaspora provided a powerful voice for the Liberian people when those on the ground were silenced by oppressive regimes. “The voices you raised, the protests you organized, and the advocacy you championed helped put pressure on those in power and shaped the course of our nation’s history,” Koffa stated.
A Call for Economic Leadership
While acknowledging the indispensable role the diaspora played in Liberia’s political history, Speaker Koffa shifted the focus to Liberia’s present and future challenges. He said the country is now at a critical juncture where the diaspora’s mission must evolve. “The Liberia of the 1970s, 80s, and 90s is not the Liberia of today. Our country has undergone significant transformation,” he said, pointing to the nation’s progress, including peaceful political transitions and the emergence of a vibrant civil society.
However, Koffa stressed that Liberia’s biggest challenge today is not political, but economic. “We won the struggle for rights, but we have not conquered the struggle for rice,” he remarked, stating that while the political battles for democracy have largely been won, the economic struggles persist. He criticized the pervasive corruption, describing Liberia as “a deeply corrupt society characterized by moral bankruptcy, intellectual hypocrisy, and social banditry.”
Koffa: “Change in Liberia does not mean a change in values or system but simply a change in personnel, justifying that which they once found abhorrent. The struggle for rice is a value and a system struggle that we must renew our efforts to curtail.”
The Speaker admonished Liberians in the diaspora that the time has come for them to take on a new mantle – that of economic leaders. “What Liberia needs today is for the diaspora to become a catalyst for economic growth. The challenge before us now is not political; it is economic,” he asserted.
Diaspora’s Economic Potential
The Speaker revealed that in 2023 alone, Liberians abroad sent more than US$800 million in remittances, a figure that amounts to nearly a quarter of the national GDP and exceeds the government’s entire national budget. “This is a powerful testament to the diaspora’s economic potential,” Koffa noted, but he quickly added, “This is just the beginning. It is just the tip of the iceberg.”
He urged the diaspora to move beyond remittances and actively pursue investments in Liberia’s key sectors, such as tourism, infrastructure, agriculture, and technology. “Imagine a Liberia where diaspora-led investments fuel a booming tourism industry, showcasing our beautiful landscapes, beaches, and national parks to the world,” Koffa said.
Government’s Commitment and a Landmark Legislation
In support of this vision, the Speaker outlined legislative initiatives aimed at creating a conducive environment for investment. One of the key pieces of legislation, currently under consideration by the House of Representatives, is the establishment of the Liberia Import Export Bank (LIBEXIM), which is designed to boost investment in Liberian exports, including rubber products, wood products, and agricultural produce. “We are working in the House on a landmark piece of legislation that will create the Liberia Import Export Bank as a signature piece of Liberian trade engine in the 55th Legislature,” Koffa announced.
He explained that LIBEXIM would help develop finished products that create jobs and stimulate the economy, moving Liberia away from its historical dependence on raw material exports. “Finished products create jobs and build economies,” Koffa said, adding that this legislation would be a cornerstone of Liberia’s future trade policy.
Despite the progress being made, Koffa lamented that Liberia has yet to fully participate in the Africa Growth and Opportunity Act (AGOA), a U.S. program designed to promote trade with African nations. “Sadly, Liberians are not participants in the Obama-created AGOA program designed to trade with Africa and not just flush with aid to Africa,” he said, stressing the need for more robust trade partnerships.
A Call to Action
In concluding his speech, Speaker Koffa issued a powerful call to action, urging the diaspora to seize the moment and take the lead in shaping Liberia’s economic future. “Liberia stands at a crossroads and we have an opportunity—perhaps the greatest in our history—to move beyond a past of dependence on aid and remittances to a future of economic independence and prosperity,” he said.
Looking ahead to the next 50 years of ULAA’s service, Koffa asked the diaspora to reflect on their legacy: “What will your legacy be? How will you shape Liberia’s future?” His message was clear: the time to act is now. “The time to invest is now. The time to build is now. Liberia is calling, and we need you to answer,” Koffa concluded.
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