HRH Prince Alwaleed bin Talal bin Abdulaziz, Chairman of Kingdom Holding Company (KHC), arrived at the capital of Liberia, Monrovia on Friday June 2nd with accompanying delegation marking the 4th out of 15 countries to be visited during his investment tour in Africa. Prince Alwaleed was received at Robert International Airport by the Vice-President H.E. Dr. Joseph N. Boakai and other high-ranking officials.
Prince Alwaleed and Vice-President Boakai, along with respective Saudi and Liberian delegations, made their way to Monrovia City Hall where His Highness was presented with the "Key to the City of Monrovia" by the Mayoress Hon. Mrs. Ophelia Hoff Saytumah in an official ceremony. The group then headed to the Executive Mansion where Prince Alwaleed met with Liberia's new president H.E. Dr. Ellen Johnson-Sirleaf; first woman president in the history of Africa.
President Sirleaf cordially welcomed Prince Alwaleed to Liberia and thanked him for his visit. HRH 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 Kingdom Holding Company and its affiliates, HSBC-Kingdom, Kingdom-Zephyr (KZAM), and Kingdom Hotel Investments all of which had representatives present along with representatives from the humanitarian division who will carry out the philanthropic activities. President Sirleaf stated, "We have over an 80% 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 His Highness to the IPDs Housing Project in Blotoe Town, the construction of which was financed by Prince Alwaleed's donation of $538,000 in July 2005. Furthermore, in that same year, Prince Alwaleed donated $2,138,000 million for education, health and housing projects in Liberia. HRH's donations to Liberia include $640,000 for renovating labs, delivery rooms, operating theaters in eight rural health care facilities, $600,000 for text books for primary schools, $360,000 for purchasing drugs and medical supplies, and $538,000 for 1000 housing units for the war displaced.
Furthermore, during His Highness's previous visit to Liberia in 2005, he had met with the previous President, Bryant who bestowed the highest honorary medal upon the Prince, called the 'Star of Africa.' The medal was a token of admiration for Prince Alwaleed's efforts.
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© Press Release 2006
