–Demand 90-Day Loan Repayment Grace Period
By: Laymah Kollie
MONROVIA, Liberia – A coalition of Liberian businesswomen is calling on the Legislature to push commercial banks to grant local importers a minimum 90-day grace period before loan repayments begin, as mounting financial pressures threaten the survival of Liberian-owned businesses.
The businesswomen, operating under the banner “China Business Women United with One Voice/Consortium of Liberia Importers,” are expected to formally petition the Liberian Legislature on Tuesday, November 3, 2026, seeking urgent intervention into what they describe as growing challenges facing local commerce.
Among five major concerns outlined in their petition, the traders have placed particular emphasis on the high cost of borrowing, excessive bank charges, and short loan repayment periods, which they say are making it increasingly difficult for Liberian importers to sustain their businesses.
They are appealing to the Senate to engage the Central Bank of Liberia and commercial banks to introduce a minimum 90-day grace period before loan repayments commence, arguing that importers need sufficient time to receive, clear, and sell their merchandise before meeting repayment obligations.
The coalition also identified prolonged shipping delays, excessive taxation, weak enforcement of the Liberianization Policy, and unfair competition from foreign traders as other major threats to their operations.
According to the businesswomen, goods imported from China, their primary source of merchandise, now take between three and six months or even longer to arrive in Liberia. They said the delays leave substantial amounts of capital tied up while businesses continue to shoulder rent, loan obligations, shipping expenses, and other operating costs.
On taxation, the group is calling for a review of the existing tax regime, insisting that the combined burden of taxes and rising operational expenses has become increasingly difficult for local businesses to sustain.
They are also urging lawmakers to strengthen enforcement of the Liberianization Policy to ensure that business opportunities reserved for Liberians are effectively protected.
The businesswomen further complained about what they described as unfair competition from some foreign traders, particularly Chinese nationals, who they allege import and sell the same merchandise as Liberian business owners at significantly lower prices.
“We respectfully urge the Liberian Legislature and relevant authorities to address these concerns with urgency,” the group stated.
The planned petition comes as the Liberian Senate is also preparing to address complaints surrounding delays and rising transaction costs within the country’s port sector.
On October 27, 2026, the Senate Plenary voted to summon key port stakeholders to appear before the Committee of the Whole on Tuesday, November 3, 2026, in the Senate Chambers.
The decision followed a communication from Gbarpolu County Senator Amara M. Konneh, who called for urgent legislative intervention into what he described as a growing crisis in port operations.
Those summoned include the National Port Authority (NPA), APM Terminals Liberia, MEDTECH Scientific Limited, Global Tracking and Maritime Solution (GTMS), the Liberia Revenue Authority’s Customs Department, the Ministry of Commerce and Industry, and the Brokers Union/Customs Brokers Association of Liberia.
Senator Konneh informed his colleagues that importers have, over several months, complained about excessive delays in container movement and clearance, both at sea and within port facilities, as well as rising transaction costs.
The businesswomen say their petition is intended to bring the broader challenges confronting Liberian importers directly before lawmakers, with the hope that concrete policy and financial reforms will help protect local entrepreneurship, sustain jobs, and prevent further deterioration of Liberian-owned businesses.
