J. Fonati Koffa, has presented the first bill since the commencement of the 54th Legislature, seeking the reinforcement of protection of Liberian businesses. The Bill dubbed Liberian Business and Economic Empowerment Act of 2018, is also intended to provide criminal penalties for violators of the 1973 Investment Act and also seeks to create fund to ensure that Liberian businesses in the subject category succeed. In the act businesses including; supply of sand, Bricks making, real estate Agencies and Real Estate Management services, Travel Agencies or Travel Agency Contract for Airlines and Distribution and retail sale of flour, Cement, and rice. Said, funds shall not be less five hundred thousand United States dollars (US$500,000.00) for the initial deposit. This does not apply to other Liberian owned businesses or natural persons.

Source: Front Page Africa January 31, 2018 03:30 UTC