Legal Aspects of Doing Business in Africa - Second Edition - Looseleaf
Legal Aspects of Doing Business in Africa - Second Edition - Digital
The word ‘Liberia’ was coined in 1824 by the Reverend Robert Gurley from the Latin
word liber which means ‘free’. Liberia, which is the first African Republic, was founded
in 1822 by the American Colonization Society for the purpose of resettling free black
people in Africa. It has a population of 2 million people. Its capital, Monrovia, is located
on the Atlantic Coast and serves as the country’s major and largest seaport — The
Freeport of Monrovia.1 The Freeport of Monrovia is located five miles from the city center;
it is the only one of its kind in West Africa. The Liberian flag is flown by 2,667
international ships representing more than 79 million gross tons and earning the country
the reputation of having the largest maritime fleet.
Roberts International Airport, located thirty-three miles from Monrovia, is the country’s
main port of entry for international air travel. Since the installation of an earth-satellite
station in Monrovia, Liberian telecommunications services have put the country within
easy reach with the rest of the world. The international direct dialing system provides
direct dialing to the United States and Europe. International telex services are also available
and may be applied for on a rental basis from the Liberian Telecommunications
Liberia declared independence on 26 July 1847. It adopted a republican form of government
with Joseph Jenkins Roberts as its first president.
Its republican form of government was patterned after that of the United States and
divided into legislative, executive and judicial branches. The legislature was bicameral.
In 1964, the senate had eighteen members and the House of Representatives forty five.
The president and vice-president were elected for eight year terms and could be elected
for additional four year terms.
Forms of Business Presence
Customs and Trade
Import and Export Limitations and Formalities
Exchange Controls, Banking and Security
Labor, Social Security and Immigration
Intellectual Property and Industrial Property Rights
Price Controls and Unfair Competition Legislation