RIYADH, 4 June 2006 — Prince Alwaleed ibn Talal, chairman of Kingdom Holding Company (KHC), arrived in Monrovia on Friday with an accompanying delegation marking the 4th out of 15 countries to be visited during his investment tour in Africa. Liberian Vice President Dr. Joseph N. Boakai and other high-ranking officials received Prince Alwaleed at Robert International Airport.
Alwaleed and Boakai, along with respective Saudi and Liberian delegations, made their way to Monrovia City Hall where Mayor Ophelia Hoff Saytumah presented Alwaleed with the “Key to the City of Monrovia” in an official ceremony. The group then headed to the Executive Mansion where Alwaleed met with Liberia’s new President Dr. Ellen Johnson-Sirleaf, first woman president in the history of Africa.
Sirleaf cordially welcomed Alwaleed to Liberia and thanked him for his visit. Alwaleed and the president discussed social and economic issues as well as possible investment opportunities in Liberia, namely in the hotel industry. Furthermore, they explored investment activities that can be carried out through KHC and its affiliates, HSBC-Kingdom, Kingdom-Zephyr (KZAM), and Kingdom Hotel Investments, all of which had representatives present along with officials from the humanitarian division who will carry out the philanthropic activities. Sirleaf stated, “We have over an 80 percent unemployment rate in Liberia and our country’s security stems from employment that can be obtained through investments.”
During this trip to Liberia, the vice president escorted Alwaleed to the housing project in Blotoe Town, the construction of which was financed by Alwaleed’s donation of $538,000 in July 2005.
