The Liberia Revenue Authority (LRA) has entered into Employee Credit Scheme Agreement with Liberia Cement Corporation (CEMENCO) and Guarantee Trust Bank. (GT Bank)
Under the agreement, construction materials will be credited from CEMENCO by LRA staff and paid directly by GT Bank. The value of the items will be deducted on employee’s monthly salaries, the entity said in a press statement Tuesday in Monrovia.
Speaking at the signing ceremony at the Headquarters of the LRA on the 1st of March 2019, Commissioner General Thomas Doe Nah said the purpose of the credit scheme, is to ease the financial burden and challenges faced by employees.
“With this scheme employees of the LRA will not have to worry to buy materials for construction, added CG Nah”.
Also speaking the Managing Director of GT Bank, Ikenna Anekwa, stated that the program introduced by the LRA is in the right direction to empower employees improve their lives by acquiring essential construction materials.
According to MD Anekwa, the management of GT Bank will provide bank guarantee of US $ 100,000 (One Hundred Thousand) as partner to the MOU.
Meanwhile the Managing Director of Liberia Cement Corporation (CEMENCO) William Philippe Grignard said initiative will LRA staff to credit construction materials to build their various homes.
MD Gaignard, added that his institution is committed to the scheme and will honor its part of the agreement.
The LRA has also signed previous agreement with Hadid Electronics, City Builders, Nyan Nyan Enterprise and Edward Dunn travel agency.
This is the second time under the leadership of CG Nah that the LRA has launched and signed credit agreements with businesses.