President George Manneh Weah at his inaugural address passionately appealed to the global business community to explore the enormous investment opportunities the Liberian economy has to offer. The influx of investors to Liberia after this clarion call has been highly remarkable and refreshing.
According to reliable data at the National Investment Commission, a significant amount of these investors are from West Africa, reinforcing the pan African school of thought that Africa can be built by Africans. Latest to respond to this call is one of Ghana’s astute and highly successful business owners, Dr. George Obeng.
Dr. Obeng is expected to visit Liberia later this month, January, in order to hold talks with some top government officials from selected ministries and agencies so as to discuss his investment plans and also extend a hand of invitation to the official opening of Nananom Group Liberia in the first quarter of 2019.
The company seeks to commence operations in various sectors; namely: Real Estate, Hotel, Shopping Malls, Logistics, Aviation, Transportation and Mining.
In a telephone conversation, Dr. Obeng said: “Our decision to invest in the Liberian economy is also in line with Nananom Group’s 3 year strategic plan to extend operations to 6 African countries. Liberia was given immediate consideration, based on the findings of our consulting partners who conducted three months of feasibility studies in various sectors of the economy.
“We are excited about the prospects in Liberia and will commit a significant amount of investment to the private sector. Our passion is job creation, which we strongly believe will complement the pro poor agenda of the government.”
Dr. Obeng started Nananom Financial in 2006, the first African-owned financial service company in Ontario, Canada, where the company offers financial services to over 5,000 clients. These services include accounting and taxation, bookkeeping and finance, mortgage and loans, legal services, income tax appeal, insurance bond, harmonized sales tax, etc.
Nananom grew from a single company to a Group Status in 2010, with a number of distinct businesses in Canada and Ghana.
According to Dr. Obeng, Nananom Group has built a strong financial base in order to cater for all its subsidiaries; it has been re-positioned and re–structured so as to be one of the most competitive businesses in Africa and the world.
He said the group currently operates in over 15 industries, namely: Real Estate, Property Management, Mining, Transportation, Manufacturers’ Representative and security Services. Highlighted among these is the group’s flagship housing project, Summerhill Estate, which has been highly applauded by the Ghanaian government and stakeholders in Ghana’s housing sectors.
In 2015, the Nananom Group gave birth to the prestigious Summerhill Estate located in a new luxurious residential enclave, East Legon Hills, Accra, Ghana. It offers very high quality products, exquisitely and stylishly built with personalized first class facilities.
Summerhill is considered the most preferred real estate company in Ghana and beyond as it offers the highest quality and customer focus housing while creating value for clients through competitive price. It comes with emphasis on affordability, which highlights bridging the gap between luxury and affordability—which Liberians could benefit from.
The CDC-led government, since its ascendancy, continues to echo the need for the provision of affordable, permanent and decent homes for Liberians, many of whom are extremely poor and underprivileged.
This effort, the Weah government indicates, is to address the country’s housing dilemma as Liberia lags far behind its African counterparts, especially within the Mano River Union basin, on the provision of decent and affordable housing units that could bring dignity to the lives of the citizenry.
Being a renowned real estate firm involved with the construction of Luxurious Apartments and Condominium Rentals in Ghana, Nananom Group, through its Summerhill subsidiary, is also contemplating on constructing housing units for low income earners based on arrangements with the requisite authorities within the country. “Our coming to Liberia could also be a great relief for the nation and its people through the construction of affordable housing units,” the Nananom Group founder said.
Venturing in such an initiative could engender President Weah’s quest to narrow the gap between the rich and the poor through government pro-poor agenda.
Another advantage that comes with such an investment is the employment opportunities that it offers for ordinary Liberians, especially the young people.
Dr. Obeng noted that his interest in investing in Liberia is predicated upon President Weah’s call that the country is open for business and that those wanting to invest in Liberia should come in. “We need to come as Africans and support the vision of this new President and his government,” he said.
Dr. Obeng acquired his PhD in Economics from the Gordon Brown University. In this same prestigious university, he obtained his Bachelor of Arts and Masters in Accounting and Business Administration respectively.
He worked as a Chemical Engineer for four years before establishing Nananom Financial Services, a subsidiary of the Nananom Group of Companies in Canada. Mr. Obeng is a Chartered Accountant.