Monrovia, Liberia — July 2025 — Bloom Bank Africa Liberia Limited has reaffirmed its steadfast commitment to supporting Liberia’s growing small business sector, describing it as a “foundation for prosperity” that drives both entrepreneurial success and national development.
Speaking at the official launch of Cohort V of the Liberia MSMEs Growth Accelerator Programme, held at the Ministry of Commerce and Industry, Mr. Lekan Balogun, Managing Director and Chief Executive Officer of Bloom Bank, emphasized that the bank’s involvement in the initiative—facilitated by the UNDP and the Government of Liberia under the Livelihood and Employment Creation Project—is both strategic and transformational.
“We joined this partnership last year, and I can confirm that we’ve seen first-hand the transformative impact—not just on the SMEs, but on our bank as well,” Mr. Balogun noted.
He explained that Bloom Bank’s participation aligns with its internal strategic priority to support Micro, Small, and Medium Enterprises (MSMEs) as a driver of economic growth across Liberia.
“SMEs are widely recognized as catalysts for development in any economy,” he said. “At Bloom Bank, we have dedicated programs tailored to meet the needs of SMEs, and this partnership reflects our long-standing commitment.”
According to Balogun, several businesses from previous cohorts have already begun to access support from the bank. He expressed confidence that the impact of the program will continue to expand, creating meaningful opportunities for Liberian entrepreneurs.
While acknowledging the commercial relevance of MSME banking, Mr. Balogun made it clear that Bloom Bank’s engagement is guided by a broader economic and developmental vision.
“We stand with you on this journey not simply because it’s good for business, but because we believe in nation-building. The more businesses we help grow—from micro to small to medium—the more jobs we create, and the greater the collective prosperity.”
Describing the MSMEs Growth Accelerator as a “foundation for inclusive growth,” Mr. Balogun commended the Government of Liberia and UNDP for sustaining and evolving the program over the years.
He also announced that Bloom Bank has made its training facilities available to program participants and various business associations, offering continued access to financial literacy tools and advisory support.
“Our facility is open and already in use by some associations. Beyond funding, we are committed to sharing our financial knowledge to help these entrepreneurs thrive.”
Mr. Balogun assured stakeholders of Bloom Bank’s full participation throughout Cohort V and reaffirmed the bank’s intention to accompany MSMEs throughout their growth journey.
“We hope to see some of these entrepreneurs become the next Dangote of Africa. We want to proudly say one day: We knew that business when it started.”
With the renewal of the Memorandum of Understanding (MOU) between Bloom Bank, the Ministry of Commerce and Industry, and UNDP, Mr. Balogun pledged ongoing collaboration and consistency.
“As we sign this renewal MOU, I reaffirm our commitment. Our doors are open. Our people are ready. And our funding support is in place. We do not take this partnership for granted.”
He concluded by extending his appreciation to all stakeholders, including the Ministry of Commerce, Deputy Minister Wilfred Bangura Reeves, and Mr. Luther Jeke of iCampus, for creating a conducive ecosystem for MSME development in Liberia.
The Liberia MSMEs Growth Accelerator Programme, supported by UNDP, aims to strengthen the country’s entrepreneurial ecosystem by equipping high-potential MSMEs with training, financing, and mentorship. Now in its fifth cohort, the initiative continues to drive job creation, income generation, and inclusive economic growth across Liberia.
