By Sidiki Fofana
From The Pen Of Truth In Ink
From their rivalry at SUP vs SIM/ STUDA Coalition to their common denominator of the powerful corridors of Liberia’s Finance Ministry, with nearly 12 years of combined stewardship what has really changed in Liberia’s financial reality?
In a country of more than five million people, two men have shaped Liberia’s economy for more than a decade: Hon. Augustine Kpehe Ngafuan and Hon. Samuel D. Tweah Jr. Known affectionately as Ngaf and D. Tweah, are more than just public officials—they are symbols of ambition, resilience, and the long journey from poverty to power.
From the rural corners of Lofa and Maryland to the corridors of power in Monrovia, these two men have followed parallel paths. They emerged from poverty, fought their way through the University of Liberia, studied economics before rising to the top of Liberia’s financial sector.
Their rise to the financial leadership of our country is a testament to what education, determination and patriotism can achieve. Yet today, after nearly 12 years of combined leadership as finance ministers, the central question remains: What has changed?
Both excelled academically—graduates of the University of Liberia’s economics department with distinction , later earning prestigious international credentials—and both returned home to serve. Between them, they have spent nearly 12 years steering the nation’s financial direction.
But as power has shifted from one to the other and back again, the fundamental question persists: What has changed?
Economists may cite GDP growth, inflation rates, and budget ceilings.
but Liberians don’t need statistics to understand their reality. In a country often described as “rich in resources but poor in people,” the impact of economic policy is felt not in boardrooms but in bread prices, hospital visits, school fees, jobs prospects and bus fares.
You don’t need a degree to know you’re hungry , or unemployed. In Liberia, and perhaps any part of the world, lived experience is the real economic index.
Ngafuan first took the reins in August 2008, appointed Minister of Finance by President Ellen Johnson Sirleaf. He served at a time of strong international goodwill. The country was emerging from conflict, and global partners—USAID, the EU, World Bank—were eager to support Liberia’s post-war recovery. Budget support flowed freely. The fiscal environment, though not easy, was relatively favorable, and Ngafuan navigated it with technical competence and calm authority.
After six years, the baton—though not passed directly—was taken up in 2018 by Samuel D. Tweah appointed by President George Weah. He, too, would serve for six years.
When D. Tweah Jr., assumed the role in 2018 , the environment had changed dramatically.
The global pandemic upended economic projections, donor confidence was slipping, and domestic revenue was strained. COVID-19 disrupted everything—from trade to payroll—while inflation climbed and public frustration mounted. Unlike his predecessor, Tweah had to lead amid crisis, volatility, and uncertainty.
Yet, despite these headwinds, Tweah managed to lay a foundation that, while imperfect, created a more stable macroeconomic footing for his successor.
Through tough negotiations with international partners, the digitization of revenue systems, and tight fiscal controls, he delivered a framework solid enough to leave a balancing start. The economy did not collapse. Salaries resumed. Arrears shrank. These outcomes may not have transformed lives overnight, but they reflected a form of discipline that deserves acknowledgment.
In 2024, with President Joseph Boakai’s election, Ngafuan returned to lead the Ministry of Finance
But the Liberia he returns to is not the Liberia he left. The external funding cushion that once supported his efforts has eroded. Major international budget support—particularly from USAID, —has been significantly reduced , if not eliminated , a lingering consequence of U.S. foreign aid cuts by the Trump administration. Donor fatigue is real. Fiscal space is tight. Expectations, however, remain high.
Different yet the Same:
As student leaders, Ngaf, older by a year and a month, became President of the University of Liberia Student Union as a product of the Student Unification Party (SUP), defeating Tweah’s Student Integration Movement/ Student Democratic Alliance Coalition (SIM/STUDA) – a faction formed to challenge SUP’s dominance .
This gives a visual reflection of their rivalry , and political identities, which have followed them into public service—Ngafuan the quiet technocrat who favors comrades from his SUP days; Tweah the forceful reformist who empowered allies from SIM/ STUDA , including the late Thomas D. Nah and Clatus, his trusted chief of staff.
Despite their differences in personality and political orientation, with competitive intellectual rivalry dating back to their days at the University of Liberia, both men share striking similarities.
When it comes to policy substance, they are closer than they appear. Both are believers in international financial systems and have relied heavily on institutions like the IMF, World Bank, and African Development Bank. Each advanced reforms shaped more by global consensus than grassroots realities.
Take, for example, the harmonization policy—a controversial wage reform introduced under Tweah and criticized heavily during the 2023 election campaign. Yet once in office, Ngafuan embraced and defended the same policy, citing it as necessary for fiscal discipline. The contradiction wasn’t personal; it was systemic. Both men chose continuity over disruption because they are the same without admitting.
And so, the foundation of Liberia’s economy over the past decade—whether solid or crumbling—has been laid in large part by these two men.
On other fronts, their similarities are equally telling. Neither has made bold moves to curb excess at the top of government. Budgetary allocations to the Executive Mansion and Legislature remained generous, while institutions like the Monrovia Transit Authority struggled. Both found funds to provide $45,000 vehicles to lawmakers, even as public transport and essential services deteriorated.
So, after more than a decade of shared stewardship, what has truly changed?
Different styles. Different challenges. Same outcomes.
For the Liberian people, the lived reality remains difficult. Wages are low. Opportunities are scarce. Hunger persists. And the promise of economic reform remains largely rhetorical.
Still, it is unarguable that both men are among Liberia’s brightest minds and most patriotic sons. They have served with intention, discipline, and belief in their respective missions. But the measure of leadership is not found in good intentions—it is found in results. After all this time, have they changed the course of our financial situation? Have they delivered the transformation Liberia needs? The transformation each of them spoke about under the ” palava hut” of the University of Liberia. You be the judge.
