Liberian Vice President Jeremiah Kpan Koung has underscored the critical role of major concession companies, particularly Bea Mountain Mining Corporation and ArcelorMittal Liberia, as he renewed calls for urgent investment in the country’s struggling energy sector.
Speaking Monday on the state broadcaster ELBC, the Vice President described the two companies as Liberia’s highest taxpayers, stressing that their financial strength positions them as key partners in addressing the nation’s electricity crisis.
Mr. Koung warned that failure to take decisive action in the energy sector could lead to “future embarrassment” for Liberia, urging a shift in strategy that leverages the capacity of top revenue contributors like Bea Mountain and ArcelorMittal.
“These are the highest taxpayers now,” he said. “We need to shift the focus and allow them to build the dam to supply electricity.”
According to the Vice President, the government should explore a model that enables these companies to reinvest part of their tax contributions into critical infrastructure—particularly the construction of a hydroelectric power plant. He noted that such a project could cost between US$2 billion and US$3 billion, a figure he acknowledged is beyond the government’s current financial capacity.
Rather than relying solely on traditional tax collection, Mr. Koung proposed a partnership approach that would see these major corporations directly finance and develop energy infrastructure capable of delivering stable and reliable electricity nationwide.
He emphasized that Liberia’s broader economic growth is closely tied to resolving its electricity challenges, pointing to the ongoing struggles of the Liberia Electricity Corporation (LEC) as a major constraint on private sector development.
“All of the sectors rest on LEC, which is the foundation for the nation’s progress,” he stated. “Business is not going, and LEC is a major factor.”
The Vice President noted that unreliable electricity continues to stifle business expansion and job creation, forcing many Liberians to depend on government employment due to limited private sector opportunities.
Hon. Koung concluded by urging policymakers to prioritize foundational investments in energy, expressing confidence that collaboration with the country’s top taxpayers—Bea Mountain Mining Corporation and ArcelorMittal Liberia—could unlock sustainable growth and long-term economic transformation
