This country profile was published in November 2009 in our annual 'Africa in 2010' issue. The next edition, 'Africa in 2011' will be on sale in November 2010.

Country Profile

Top Liberian Companies

Top Liberian Banks 

Liberia enters 2010 torn in two directions – battling to limit the historical repercussions of its years of conflict from haunting the political landscape while straining to speed up the reconstruction of its battered economy. Despite enjoying wide international support, President Ellen Johnson Sirleaf is facing trouble at home. The final report from Liberia’s Truth and Reconciliation Commission continues to fuel intense debate since its publication in July, when it recommended that 50 people involved in the civil war – including Johnson Sirleaf, who admitted sending $10,000 to fund former-President Charles Taylor’s rebel force in the late 1980s and early 1990s – be banned from public office for 30 years. 


Allegations persist that the report was politically motivated, designed to prevent the President from standing again in elections scheduled for 2011. The extent to which its recommendations are implemented will weigh significantly on the political atmosphere in 2010. Meanwhile, Taylor’s ongoing trial in the Hague for war crimes committed in 
Sierra Leone is being closely followed, and the result will feed into the election build-up. 


There has been party consolidation from both government and opposition. In mid-2009, Johnson Sirleaf’s Unity Party, which is a small minority in the legislature, merged with the Liberia Action Party and Liberia Unification Party. The opposition benches are also forming a broad-based coalition between the Congress for Democratic Change, the Liberia National Union and the National Patriotic Party. The opposition has criticised Johnson Sirleaf for perpetuating the status quo and maintaining the old 
system of political patronage. 


Recent mega-deals show a real break from the past. In December 2008, Liberia signed a $2.6bn agreement with China Union to develop the Bong iron ore mine, much to the consternation of South Africa’s Delta Mining Consolidated, which thought it had won the concession. A lot is riding on the mine, which is projected to bring in 12% of the government’s total revenue in 2009/10. A triumphant Johnson Sirleaf returned from Washington in April having slashed $1.2bn off Liberia’s commercial debt with a donor-financed buy-back. 


Liberia’s economy, based on the export of natural resources, suffered during the financial crisis from falls of around one-third in the price of its main exports of palm oil, timber, rubber and iron ore. IMF estimates put growth at 4.9% in 2009, rising to 6.3% in 2010. Lingering questions remain from parliament and civil society about logging and forest management contracts which do little for the government or local communities.


The 2009/10 budget will focus on improving health, education and the justice system. Unemployment is still at critical levels, despite shortages of middle-level technicians in the petroleum, mining and logging industries. As a result, there is a clear government policy to woo back the diaspora. 
Rebuilding roads is the top infrastructure priority. Construction has started on the Monrovia-Buchanan highway but rains mean that work can only be done between November and April. Other projects are constrained by local capacity, and the government is working to persuade large international contractors to bid.


The UN mission in Liberia was given an extended mandate until the 2011 elections but is in draw-down mode, with troop numbers set to decrease from 10,000 to 8,000 by May 2010. Local security forces will face challenges to fill the void. The sub-region is also simmering and new conflicts have the potential to spill over. Reports that ex-Liberian rebels were involved in September’s violent suppression of protesters in Guinea have increased pressure on both Liberia’s post-conflict balancing acts.

Liberia's Top Companies

No Liberian companies featured in The Africa's Report's Top 500 Companies in Africa 2009.

Liberia's Top Banks

No Liberian banks featured in The Africa's Report's Top 200 Banks in Africa 2009.