Enforce Business Protection Laws
The Chief Executive Officer of Shark’s Entertainment Incorporated, popularly known as Shark’s Ice Cream, Madame Eyvonne Bright-Harding has urged the Liberian government to implement and enforce laws and policies that are specifically designed to protect and promote Liberian-owned businesses.
Speaking during an interview with the Liberian Business Hour in Monrovia, Madame Bright-Harding expressed concern over the lack of strict enforcement of the Liberianization policy, which mandates that certain jobs and business sectors be reserved for Liberian entrepreneurs and workers. The policy, she said, was introduced to allow local businesses to thrive and reduce the dominance of foreign investments in critical sectors of the economy.
She pointed out that while foreign businesses are crucial to economic growth, they must adhere to the thresholds outlined by the policy. This includes meeting investment requirements and ensuring that a fair portion of jobs are available to qualified Liberians.
The Shark’s Ice Cream CEO further emphasized that a clear and robust implementation of these laws would help create a level playing field, enabling homegrown businesses to compete effectively.
“The government needs to put action behind these policies and ensure that foreign investors meet their obligations under the Liberianization framework. It is not enough to have these policies in place on paper; they must be actively enforced,” Bright-Harding said.
She also highlighted the challenges faced by local businesses in competing with foreign-owned enterprises that sometimes bypass these regulations, leading to market imbalances and stunted growth for Liberian entrepreneurs.
As one of the leaders in the local ice cream industry, Bright-Harding has witnessed firsthand the struggles of maintaining a competitive edge while adhering to national business regulations.
In addition to the call for stronger enforcement of the Liberianization policy, Bright-Harding proposed the creation of a more transparent and efficient system for monitoring foreign investments. She suggested that a government task force could be established to oversee the activities of foreign businesses and ensure compliance with local laws. This would not only protect local businesses but also ensure that the Liberian economy is not being undermined by unfair practices.
“The Liberianization laws are on the books, but implementation is the problem,” she noted.
She questioned the authority of the Liberia Business Registry, the Justice and Commerce Ministries, as well as other government agencies in ensuring foreign Businesses are in full compliance with the law.
“Do we have foreigners at the Business Registry, the Ministry of Justice?” the Shark’s Ice Cream CEO questioned. These are all arms of government that should be implementing the laws, but Liberians find themselves at the tail end.”
With a growing number of foreign businesses entering Liberia’s market, especially in industries like retail and services, Bright-Harding’s call for more regulatory measures comes at a critical time. Her comments have sparked discussions among various business leaders, who are rallying behind the idea of strengthening the laws governing foreign investment and ensuring that Liberian businesses are prioritized in their own country.
As the CEO of a successful Liberian brand, Bright-Harding believes that a thriving business environment, where both local and foreign companies coexist under fair regulations, is key to Liberia’s sustainable economic development.
What’s ahead for Sharks Entertainment Incorporated?
As part of its plans to expand the brand, Shark’s Entertainment Incorporated is setting its sights beyond Liberia in an ambitious growth strategy geared towards transforming the brand into a regional powerhouse. Chief Executive Officer Eyvonne Bright-Harding disclosed that the company is actively exploring opportunities to expand into neighboring Mano River Union markets within the next five years.
According to her, the company is considering establishing branches in Sierra Leone, Guinea, or the Ivory Coast, noting that these countries present promising opportunities for growth due to their expanding urban populations and increasing demand for quality food and entertainment services. She emphasized that the expansion plan aligns with the institution’s vision to position Shark’s as a leading indigenous brand capable of competing at the regional level.
The CEO explained that the move will not only increase the company’s footprint but also create employment opportunities for citizens across the sub-region while promoting Liberian entrepreneurship beyond national borders. She added that the company is currently conducting feasibility studies and market assessments to ensure a smooth and sustainable expansion process.
“Sharks is looking forward to establishing branches in Sierra Leone, Guinea, or the Ivory Coast to expand the company’s brand and partnership,” she explained.
In addition to its regional ambitions, Madame Bright-Harding highlighted key progress in the company’s local operations. She revealed that Shark’s Entertainment Incorporated now owns a farm dedicated to the production of a variety of agricultural products. According to her, the farm plays a critical role in supporting the company’s ice cream production by supplying fresh, locally sourced ingredients.
She noted that this vertical integration strategy has helped the business maintain quality control, reduce operational costs, and promote local agriculture. The initiative also aligns with the company’s commitment to supporting Liberian farmers and contributing to the country’s food production capacity.