Joseph Nyumah Boakai speaks at the Black Business Conference

PR Newswire reports that just about 3,000 attendees at the National Business League’s 124th National Black Business Conference in Atlanta, Georgia, listened words of encouragement from the keynote speaker and Liberian President Joseph Nyumah Boakai

The historic event, held on September 3 in partnership with the National Black Business Alliance and co-founders, the National Black Chamber of Commerce and the World Conference of Mayors, aimed to strengthen economic partnerships and collaboration between Black businesses in America and African countries.

With a specific deal with Liberia, Boakai’s speech added considerable value by identifying a direct line back to Business League founder Booker T. Washington, who played a key role in Liberia’s history. When the African nation was threatened with takeover by European colonial forces in 1907, Liberia turned to the founding father of Tuskegee University to intervene. Washington was capable of contain the foreign actors, ensure Liberia’s survival, and lay the foundation for pan-Africanist relations.

Boakai emphasized how cooperation with Liberia, the Pan-African community and the US private sector will increase economic opportunities. He also called for stronger economic ties to assist expand opportunities for black businesses around the world. According to the Liberian Observer, National Business League President and CEO Dr. Kenneth Harris celebrated the success of the conference, calling it a full circle. “This is an important occasion because 40 years ago, the World Conference of Mayors held its first conference in Monrovia, Liberia. And now it’s full circle,” Harris said.

“So should I say that since we first came home, now Liberia is coming to the United States to continue the work that was started 40 years ago, with the difference that now we are focusing on black businesses?”

As the Liberian president touted the country as having a few of the “best opportunities for investors, including black businesses represented at this conference,” he announced the creation of the ARREST Agenda, which focuses on investment and development in agriculture, roads and infrastructure, in addition to education, health and sanitation, and tourism. “While these are not the end-all-be-all interventions to spur growth, we believe they are drivers of growth and development,” Boakai said.

“Liberia’s fertile land and favorable climate create enormous opportunities for investment in agriculture, especially rice production.”

He also emphasized energy, as Liberia seeks investment in solar, hydroelectric and biomass projects to fulfill growing needs. The president says the country’s installed capability is near 126 megawatts, while demand is sort of greater than 500 megawatts.

“This creates a significant gap between supply and demand, which underscores the urgent need for investment in developing renewable energy sources to provide more Liberians with reliable access to electricity and support industries, including manufacturing, for economic growth,” he said.

With major sponsors like Amazon, Comerica Bank and Prosper Africa, the conference brought together a various audience, including government officials, business leaders and representatives from 32 pan-African countries. The 2025 conference is scheduled for Aug. 20-23 at the Hilton Atlanta Hotel in downtown Atlanta.