Liberia embarks on a transformative journey in its electricity sector with the introduction of a cutting-edge digital database in collaboration with the African Development Bank (AfDB). This initiative aims to overcome regulatory hurdles and enhance operational efficiency.
Partnering with the AfDB, Liberia initiates a digital Regulatory Information Database Management System (RDBMS) to navigate regulatory complexities within its electricity sector. This initiative is part of the broader digitalization agenda championed by the AfDB across Africa, aligning with efforts in countries like Ghana, Guinea, Nigeria, Tanzania, Uganda, and regional bodies such as COMESA, ECOWAS, SADC, and ECCAS.
The primary objective of the database is to facilitate regional electricity trade and exchanges, in accordance with the vision of the African Union for an integrated African Single Electricity Market (AfSEM). By automating key regulatory processes, the RDBMS aims to streamline operations, enhance transparency, and promote regulatory efficiency within the electricity sector. Liberia’s Vice-President, Jeremiah Koung, expresses optimism about the potential of the RDBMS to modernize the country’s business processes and interactions, ensuring alignment with 21st-century standards. He emphasizes the government’s commitment to collaborating with the Liberia Electricity Regulatory Commission (LERC) and the AfDB to strengthen regulatory capacities and foster connectivity with regional market players.
Wilmot Paye, Liberia’s Minister of Mines and Energy, acknowledges the sector’s challenges and reaffirms the ministry’s dedication to enhancing regulations, transparency, and accountability. Paye emphasizes the importance of a unified regulatory environment in driving sectoral efficiency and attracting private sector investments. Dr. Lawrence Sekajipo, Chairman of the LERC Board of Commissioners, underscores the transformative potential of the RDBMS in enhancing regulatory processes and providing timely information within the electricity sector. Monie Ralph Captan, CEO of Liberia Electricity Corporation, highlights the pivotal role of electricity in poverty reduction efforts and underscores the RDBMS’s contribution to expanding access and facilitating private sector investments.
Wale Shonibare, the AfDB Director for Energy Financial Solutions, Policy, and Regulation, stresses the significance of establishing clear regulatory frameworks to ensure the financial sustainability of the African energy sector. Benedict Kanu, the Bank’s Country Manager in Liberia, emphasizes the timely nature of the RDBMS initiative, which complements existing energy projects supported by the AfDB in Liberia. The introduction of the RDBMS marks a significant step towards enhancing regulatory efficiency and fostering a conducive environment for sustainable energy development in Liberia.
