Validation Workshop Concluded
The Bureau of State Enterprises (BSE) has begun the process of reviewing and finalizing the draft legislation to repeal Decree #8, transitioning the bureau into the newly proposed State-Owned Enterprises Authority of Liberia (SEAL).
On Thursday, March 20, 2025, the BSE held a one-day validation workshop at the banquet hall of the Ministerial Complex, bringing together heads of state-owned enterprises (SOEs), board directors, key stakeholders, and representatives from the Liberia Revenue Authority (LRA), the Governance Commission (GC), and international partners such as the European Union (EU).
Speaking at the event, the Director General of BSE, Arthur Siaka Massaquoi, Sr., emphasized the importance of the transition, stating that SEAL would provide a stronger legal framework for SOEs, promoting transparency, efficiency, and accountability. He underscored the alignment of the initiative with President Joseph Boakai’s legislative agenda, which seeks to enhance governance and fiscal responsibility in the SOE sector.
The Chairperson of the Law Reform Commission, Cllr. Boakai N. Kanneh, provided an overview of the draft legislation, explaining the governance and oversight improvements expected under SEAL. He highlighted the law’s role in curbing financial leakages and ensuring better financial management of state-owned enterprises.
Following the discussions, stakeholders actively engaged in reviewing key provisions of the draft act, proposing refinements to strengthen governance and compliance mechanisms.
The workshop concluded with a resumption of discussions in the afternoon, after which participants expressed unanimous support for the legislative process. Roosevelt Forh, Deputy Director General for Operations at BSE, extended gratitude to all participants, urging SOE leaders to remain engaged in shaping the new governance structure.
With the successful validation of the draft act, the next step involves submission to the Legislature for deliberation and approval. Once enacted, SEAL will replace BSE as the primary regulatory body overseeing state-owned enterprises, marking a historic shift in Liberia’s economic governance.
