MONROVIA, LIBERIA-The Mines and Energy Ministry, in partnership with the Financial Intelligence Agency, is expected to hold a one-day risk-assessment workshop this Wednesday, September 3rd, focusing on Dealers in Precious Metals and Stones, among others.
According to the ministry, the move is in recognition of the vulnerabilities of Liberia’s Mining Sector to illicit financial flows, money laundering, and terrorist financing.
The risk-assessment workshop, which brings together key stakeholders, will highlight the risks and challenges associated with the misuse of Liberia’s minerals and high-value commodities for illegal financial activities.
The release quotes the joint organizing team as saying the event is part of the ongoing national reforms to strengthen transparency and compliance with international standards in the extractive sector.
The discussion centered around cross-cutting issues that need to be given urgent national attention in order to discourage all forms of illicit financial flows in the mineral sector.
Meanwhile, the Mines and Energy Ministry has garnered key stakeholders to validate the national Net-Metering Policy for Liberia.
Net-Metering is a system in which solar panels and other renewable energy generators are connected to a public utility power grid, and surplus power is transferred onto the grid, allowing customers to offset the cost of power drawn from the utility.
Mines and Energy Director for Energy Policy, Research, and Planning, Joebarline Gbozee, said,” The event aims at scaling up efforts to elevate Liberia to high levels of advancing renewable energy provision and governance”.
Madam Gbozee stressed the significance of Liberia making this much-needed transition, which, she said, buttresses ongoing efforts to extend energy service provision to strengthen the economy.
She described the Net-Metering Policy as a landmark instrument in promoting access to affordable, sustainable, and reliable electricity for Liberia.
In remarks, Mines and Energy Minister Wilmot Paye expressed excitement over the national Net-Metering Policy validation exercise.
Minister Paye said,” The draft policy presents an opportunity for Liberia to experience substantial reforms in providing renewable energy service across the country”.
He also commended participants and foreign partners, encouraging participants to give the sessions their best contributions in finalizing the document for submission to the Office of the President.
Meanwhile, Deputy Mines and Energy Minister for Energy, Charles Umehai, reaffirmed the Liberian government’s commitment to expanding renewable energy access while ensuring the need to create the appropriate environment for investment and innovation in the sector.
Deputy Minister Umehai emphasized that the Net-Metering, among other important services, improves energy access and empowers households, businesses, and institutions to actively participate in electricity generation.