Liberia Secures $22M Deal for Yellow Machines with Ecobank Financing
Renegotiated Agreement Marks Shift Toward Fiscal Responsibility
MONROVIA – The Liberian government is finalizing negotiations with Ecobank to secure $22 million in pre-financing for the acquisition of 285 yellow machines, a critical investment in the nation’s infrastructure development.
From Controversy to Accountability
This landmark deal comes after significant public outcry over an initially proposed $79 million procurement agreement. Following renegotiations, the government successfully reduced the cost to $43 million before ultimately settling at $22 million – a 72% reduction from the original price.
Vice President Jeremiah Koung confirmed the revised terms during a recent Town Hall meeting, stating: “This significant cost reduction demonstrates our commitment to transparency and ensuring all counties benefit from this acquisition.”
Procurement Controversy Timeline
The procurement process first drew criticism in May 2024 when Minister Mamaka Bility unveiled the original $79 million deal. Opposition groups quickly labeled the agreement as inflated and “devilish,” sparking nationwide demands for revision.
President Joseph Boakai intervened, clarifying that no taxpayer funds had been committed and negotiations remained ongoing. The government’s responsiveness to public concerns has been widely praised as a victory for accountability.
Financing and Implementation Details
Key aspects of the revised agreement include:
- Ecobank providing full $22 million upfront financing
- Three-year repayment plan beginning February 2026
- 285 pieces of heavy equipment from GM Earthworks Logistics
- Inclusion of warranties and spare parts
The government notably rejected a comparable $22 million offer from a Chinese supplier, citing concerns about equipment quality and sustainability.
Leadership Perspectives
Activist Martin K.N. Kollie acknowledged the progress while maintaining vigilance: “Our six-month resistance paid off, but we demand full accountability for those who attempted this deception.”
Senator Amara Konneh endorsed the revised deal but emphasized: “We must continue fighting corruption and ensure future procurements follow proper procedures.”
President Boakai personally thanked GM Earthworks CEO Robert Gumede in a March 2025 letter, praising the partnership’s potential to transform Liberia’s infrastructure and economy.
Looking Forward
This agreement represents a turning point in Liberia’s approach to major procurements, balancing fiscal responsibility with critical infrastructure needs. As implementation begins, all eyes remain on the government to ensure transparent execution of this landmark deal.
Source: FrontPageAfrica