By Amin Kef (Ranger)
President Joseph Nyuma Boakai has commended the Sethi Group of Companies for its expanding industrial footprint across West Africa, highlighting its growing investments in both Liberia and Sierra Leone as a major boost to regional economic transformation and job creation.
Speaking on Friday, April 17, 2026, at the Executive Mansion in Monrovia during the ribbon-cutting and groundbreaking ceremony of the Phase II Steel Plant, President Boakai described the company’s operations as a model of impactful private sector investment. The event, which included a tour of the company’s processing facilities, underscored Liberia’s ambition to strengthen its industrial base while fostering cross-border economic cooperation.
“This is not just about investment; it is about improving people’s lives, equipping them with skills, building their confidence, and strengthening the economy,” President Boakai stated, emphasizing that the initiative represents far more than profit-driven enterprise.
The ceremony also spotlighted the company’s regional expansion strategy, with Managing Director Jay Sethi revealing that a state-of-the-art steel plant has been installed in Sierra Leone and is expected to be officially launched in the coming months. The development is anticipated to significantly enhance Sierra Leone’s manufacturing capacity, reduce reliance on imports, and create new employment opportunities within the country’s industrial sector.
Describing Liberia as “home,” Mr. Sethi noted that his family has lived in the country for over five decades, reinforcing the company’s long-standing commitment to national development. He explained that the Sethi Group has evolved from a trading enterprise into a major manufacturing player, contributing meaningfully to Liberia’s economic diversification.
According to him, the company currently employs more than 2,500 people directly, while generating over 500 indirect jobs through the steel scrap value chain—supporting both economic activity and environmental sustainability. With the Phase II expansion underway, direct employment is projected to exceed 4,000 jobs within the next two years, alongside continued investments in corporate social responsibility initiatives.
President Boakai, visibly impressed by the scale of operations, assured the company of his administration’s support, stressing that businesses operating within the legal framework and contributing to national growth would continue to receive government backing.
“From what I see here—the cement business and other activities—this means jobs and income for our people,” he said, noting that the company’s impact extends beyond its immediate workforce to include distributors and related enterprises.
He further urged workers and citizens to take ownership of such investments, cautioning against practices that undermine economic progress. “The stronger this investment becomes, the better it will be for you, your children, and the future of this country,” he added.
Also addressing the gathering, Senate Pro Tempore Nyonblee Karnga-Lawrence called for the decentralization of industrial operations to other parts of Liberia, particularly in areas such as waste management, to improve sanitation and support sustainable urban development.
Meanwhile, Manoj Bihari Verma, India’s Ambassador to Liberia, praised the Liberian Government for creating an enabling environment for private sector growth. He highlighted the growing role of Indian businesses in Liberia’s economy and reaffirmed India’s commitment to strengthening bilateral ties through trade, investment, and capacity building.
Ambassador Verma also commended the Sethi Group for its sustained contribution to Liberia’s development, noting that such investments are instrumental in driving inclusive growth across the region.
The dual expansion in Liberia and Sierra Leone signals a new phase of industrial cooperation between the two neighbouring countries, positioning the Mano River region as an emerging hub for steel production and manufacturing. Analysts believe that with the upcoming launch of the Sierra Leone plant and the expansion in Liberia, the Sethi Group is set to play a pivotal role in reshaping the sub-region’s industrial landscape.
The event underscored the growing role of private sector investment in Liberia and Sierra Leone development agenda, with stakeholders highlighting the importance of partnerships that drive inclusive growth, job creation and sustainable economic progress.
