“The 10% (at least) equity participation for the Government of Liberia is explicitly written in the 2014 law. Will there be any disadvantage if we explicitly write in the law 5% equity for citizen’s funds it was written before the 2019 amendment?” the communication stated. The amendment to section 36 reads: “Five percent equity for businesses owned by persons of natural-born Liberian Citizenship”. Senator Sogbie worked with NOCAL and played a major role in the public consultation that gave birth to the 2016 Petroleum Law. CORLE, the group leading the campaign for the restoration of the Citizens 5% equity, has welcomed the action of the two Senators.

Source: Front Page Africa August 11, 2021 10:04 UTC