This Is Not Just About Investment; It’s About Improving People’s Lives,” President Boakai Applauds Sethi Group of Companies

Executive Mansion, Monrovia –  President Joseph Nyuma Boakai, Sr. has commended the Sethi Group of Companies for its high-quality industrial investments, which are significantly helping to improve economic activity and directly contributing to the livelihood of Liberians.

Speaking on Friday, April 17, 2026, during the Ribbon-Cutting and Groundbreaking Ceremony of the Phase II Steel Plant, which was followed by a presidential tour of the Sethi processing facilities, President Boakai emphasized that such ventures go beyond mere profit-making.

“This is not just about investment; it is about improving people’s lives, equipping them with skills, building their confidence, and strengthening the economy. This is a huge investment, and we want to say thank you,” the Liberian Leader said.

Impressed by the scale and impact of the investment, the President praised the Company’s leadership and expressed his willingness to protecting and supporting businesses that operate within the laws of Liberia and contribute meaningfully to national development.

“From what I see here—the cement business and other activities—this means jobs and income for our people,” he noted, acknowledging, “You are creating opportunities not only within your company, but also for others through distribution and related businesses,” assuring the Company of his Administration’s continued support for this investment for as long as it operates within the laws of the country and provide jobs and opportunities.

President Boakai also encouraged employees and citizens to take ownership of such investments by contributing to their growth and sustainability.

“To all of you working here, we encourage you to help this business grow. Sometimes, our practice is to destroy the very thing that sustains us, but we must do better. The stronger this investment becomes, the better it will be for you, your children, and the future of this country,” he admonished all stakeholders.

Speaking, Senate Pro Tempore Nyonblee Karnga-Lawrence called for deliberate efforts to decentralize operations across other parts of the country, particularly in the waste management sector, to help improve sanitation and clean up cities and county capitals. 

Also speaking at the event, Manoj Bihari Verma, Ambassador of India to Liberia, expressed appreciation to the Government of Liberia for fostering an enabling environment for private-sector growth and strengthening bilateral relations between Liberia and India. He noted that Indian businesses continue to play a vital role in Liberia’s growing economy.

Ambassador Verma shares India’s strides to deepening its partnership with Liberia through capacity building, trade, and investment, while commending the Sethi Group of Companies for its sustained contribution to the country’s economic development.

For his part, Mr. Jay Sethi, Managing Director of the Sethi Group of Companies, described Liberia as more than just a place of business, calling it home for his family, which has lived in the country for over fifty years. He highlighted the Company’s evolution from trading to manufacturing and its ongoing role in Liberia’s economic transformation.

Mr. Sethi disclosed that the Company currently employs over 2,500 people and has created more than 500 indirect jobs in the steel scrap sector—contributing to both economic activity and environmental sustainability.

He further revealed that the Phase II expansion of the steel plant is expected to increase direct employment to over 4,000 jobs within the next two years, while maintaining strong corporate social responsibility initiatives.