Turkish-Africa Foreign Trade Confab Set for May 16, 2008
Published: 12 May, 2008
Rizanur Meral
African businessmen, ministers, senior bureaucrats and journalists will on May 16, 2008 gather at a colorful ceremony in the gulf state of Turkey to discuss pertinent business matters with their Turkish counterparts.
Increasing Global Oil Price, Traffic Regulation Ignite High Fares, Commodity Prices
Published: 09 May, 2008
The prices of gasoline and diesel fuel continue to go skyrocketing on the world market. Transportation fares have increased globally directly affecting the prices of basic commodities in the world.
LPRC to Build New Refinery Soon
Published: 06 May, 2008
Managing Director LPRC, Harry Greaves Jr.
MONROVIA, The Managing Director of the Liberia Petroleum Refinery Company (LPRC), Mr. Harry Greaves Jr., has disclosed that the company is making efforts to construct a new refinery in the country.
Businesses Get Relief: As New Regulations Come into Force
Published: 05 May, 2008
Mr. Wil Bako Freeman, Coordinator, LBBF
For far too long, business people went from one office place to another just to have their businesses formally registered. There were cumbersome procedures at strategy public entities directly responsible for the conduct of business registration.
Mr. Mitchell making point to Minister Norkeh and An array of business people including Minister Norkeh
Gov't, Business Community Brainstorm New Reforms
Published: 02 May, 2008
It was a cozy afternoon on Wednesday, April 30, 2008, and the venue was the conference room of the United Nations Children's Education Fund (UNICEF) in Mamba Point, Monrovia, when the Government of Liberia and the business community met to discuss the new reforms that had been effected to improve the investment climate in the country.
MONROVIA, The United States Trading Company (USTC) country executive officer, Mr. Neville Isdell, says Liberia is entering a new era for the children who are future leaders to have employment when they reach employment ages.
Business Climate Gets Boost: Gov't Records
Published: 30 April, 2008
For too long, the investment climate in Liberia has faced major challenges. These challenges range from stringent but corrupt administrative bureaucracies that hampered the growth and development of businesses in the country.
Petroleum Importers Recommend Price Increase
Published: 30 April, 2008
Harry Greaves, MD, LPRC
MONROVIA, In the face of the continuous hike in world oil market prices, the Petroleum Importers Association of Liberia (PIAL) is recommending to Government an increase in the price of petroleum products on the local market in line with other world basic commodities.
Dr. Tolbert presents the scroll of Reforms to Vice-President Boakai, surrounded by Dep. Minister Tamba and other government officials
Gov't Encourages More Investments
Published: 29 April, 2008
MONROVIA, The Government of Liberia, in a bid to encourage and facilitate business growth and potential investments in Liberia, has announced the attainment of major reforms in the country.
Dr. Richard V. Tolbert Chairman, NIC Photo by A.M. Johnson
The ongoing arrival of hundreds of multi-million dollar foreign-owned companies to explore investment possibilities in Liberia, leaves one to wonder whether it is just a mere love these investors harbor for this country or is there more to it.
Reforms Recorded in Business Registry
Published: 25 April, 2008
The investment climate in Liberia is gradually beginning to record major improvements as the Government of Liberia plans to reduce the number of procedures and time it takes to register small- and medium-size businesses in the country. If everything goes well as planned, business people will take just five days to process and complete their business registration.
LIBA Signs MOU with Affiliate Branch in USA
Published: 24 April, 2008
LIBA president Samuel Mitchell
MONROVIA, Members of the Liberia Business Association (LIBA) and its affiliate branch, the Liberia Business Association in the United States of America, on Tuesday evening signed a Memorandum of Understanding (MOU) intended to improve and enhance the foundation for business environment within the borders of Liberia and the United States of America.
Dr. Tolbert confers with Chinese investors during the forum
Chinese Investors with US$5B Base Eye Liberia
Published: 24 April, 2008
MONROVIA, At least four Chinese companies under the banner of China-Africa Development Fund have expressed interest in carrying out massive investments in the Liberian economy.
Mrs. Morenike Adepoju, MD, Ecobank Liberia and Vice President Boakai withdraws using the ATM Card
Liberia on World Map for Electronic Banking
Published: 23 April, 2008
MONROVIA, Barely few weeks after the launch of internet banking by one of its competitors, Ecobank Liberia has richly launched the famous Automated Teller Machine (ATM) in Liberia. It was on a sunny Thursday morning and the venue for the launch was Paynesville when the Managing Director of Ecobank Liberia, Morenike Adepoju, announced to the Liberian people that the Pan African Bank has finally put the war-raged Third World country on the electronic banking map of the globe.
NEXPORTRADE Chairman Romeo Barberropoulous (l) and a member of the delegation, Mohammed K. Abdulsalam
New Business Opportunity For LIBA Members
Published: 18 April, 2008
A new trade link has been established between a mammoth Nigerian public and private business group called NEXPORTRADE and the Liberia Business Association (LIBA) which is aimed at strengthening the capacity of members of the local business association.
Mrs. Ethel Davies, Deputy Executive Governor, CBL. To her right is Vice-President Boakai
CBL Committed to Reforming Banking Sector
Published: 18 April, 2008
MONROVIA, Mrs. Ethel Davies, Deputy Executive Governor of the Central Bank of Liberia (CBL), has said that CBL remains committed to its ongoing drives aimed at reforming and restructuring the banking sector of Liberia.
Food Crisis Emerges in Midst of Oil Crisis,
Published: 16 April, 2008
Is the world headed for a food crisis? India, Mexico and Yemen have seen food riots this year. Argentines boycotted tomatoes during that country's recent presidential elections when vegetable became more expensive than meat; and in Italy, shoppers organized a one-day boycott of pasta to protest rising prices. In late October last year, the Russian government, hoping to ease tension ahead of parliamentary elections early next year, announced a price freeze for milk, bread and other foods through the end of January.
First Bank Prioritizes Wealth Creation
Published: 15 April, 2008
FIBLL Managing Director Francis Horton
The First International Bank Liberia Limited (FIBLL) has announced vigorous plans aimed at creating wealth within the Liberian economy by increasing support to Liberian businesses.
L-R: ADA President and CEO, Mr. Wendell McIntosh; Agriculture Minister, Dr. J. Chris Toe;
Acting Finance Minister Tarnue Mawolo; Justice Minister Cllr. Philip A.Z. Banks; and NIC
Chairman, Dr. Richard Tolbert at the signing ceremony held at the Ministry of Agriculture
on 19th Street, Sinkor
US$30M ADA, GOL Rice Farm Deal
Published: 14 April, 2008
What would be recorded in history as the renaissance of the agriculture sector that could make Liberia self-sufficient in food production unfolded last week when the nearly three-year old Government of President Ellen Johnson-Sirleaf entered a US$30 million concession agreement with African Development Aid (ADA).
Cellcom Introduces Advanced Technology
Published: 14 April, 2008
Asaf Rosenheck
The management of Cellcom GSM has introduced a new technology for its subscribers; they can now use their camera phones in sending information with pictures to all their partners everywhere Cellcom signal is erected within 30 seconds and free of charge.
Liberia to Host WAICA Conference in 2009
Published: 09 April, 2008
Liberia has been given the mandate to host the 31st Edition of the West African Insurance Companies Association (WAICA) Annual General Meeting and Educational Conference. The conference is expected to be held in Monrovia in 2009.
Rapid Transfer: An Excellent Bank Product with “One Bank Concept”
Published: 09 April, 2008
Mr. Adolphus D. Tweh, head of Operations, Ecobank
Every banking institution in the world seeks to attract their customers in many ways. Some do so by offering quality services to maintain existing customers and to attract new ones. Others provide extra security to protect their customers' deposits.
IB Launches Internet Banking
Published: 07 April, 2008
Thomas Jeffrey, III, CEO, IB
The Administrative and Finance Manager of International Bank (IB) Liberia Limited, Henry Saamoi, has predicted unbending competition within the banking sector in Liberia. But Mr. Saamoi said IB would surpass all other commercial banks operating in the country as the banking sector gravitates to high technological level.
Planet 44 nightclub in Ganta and Ms. Bessy Gegbeh, proprietor, Planet 44
Drinks Price Hikes in Nimba
Published: 07 April, 2008
The prices of drinks in Nimba, and presumably other counties in the country, are skyrocketing daily as consumers and traders in the county are expressing frustration about the continuous rises.
Equatorial Bio Fuels Offers L$4.5 M as Severance Benefits
Published: 04 April, 2008
Equatorial Bio Fuels (EBF) said it has about L$4.5 million dollars placed at the Liberia Bank for Development and Investment (LBDI) as initial amount to pay out severance benefits to former employees of Palm Bay.
Belgian Businessman To Invest in Liberia
Published: 02 April, 2008
Jans Leemans, Chief Executive Officer of GEMMATA NV
As Liberia recovers from years of war and socio-economic decadence, the need for investment cannot be overemphasized, especially at a time when the country is facing acute unemployment and adequate supply of goods and services that are needed to keep the country's economy in motion.
Media institutions across the city of Monrovia have been urged to submit the names of government agencies and institutions that are indebted to them to the Ministry of State for Presidential Affairs.
LBDI Opens New Branch in Kakata
Published: 01 April, 2008
Exterior view of LBDI Kakata branch
KAKATA, MARGIBI COUNTY, The Liberian Bank for Development and Investment (LBDI) has opened a new branch in Kakata, Margibi County. The Kakata branch is the ninth LBDI has opened since the bank embarked on its decentralization program a few years ago.
UK Investors Pump US$0.5M into Real Estate
Published: 28 March, 2008
Sayed Zeehan and Humaira Shah (Filex)
Two UK-based companies, Global Investment Consultancy Ltd and Crown International Trading and Investment Ltd, have invested US$0.5 million in real estate business in Liberia.
Credibility and public confidence are speedily returning to the banking sector in Liberia. The sector had suffered from many years of poor internal and external regulations and management.
Credibility and public confidence are speedily returning to the banking sector in Liberia. The sector had suffered from many years of poor internal and external regulations and management.
Ecobank Introduces ATM in Liberia
Published: 26 March, 2008
Automatic Teller Machines (ATMs) are automated devices or machines that provide bank customers with financial services from conventional and non-conventional banking channels without the physical presence of human beings.
GDP Hits US$473.9M: Inflation 11.4 Percent
Published: 24 March, 2008
The Liberian economy is making steady growth as investment increases in the various sectors. According to the Central Bank of Liberia (CBL) Annual Report for 2007, the country's Gross Domestic Product (GDP) has made significant growth increasing by nearly US$40 million each year since 2005.
Aminata Gas Station in Flames
Published: 20 March, 2008
Aminata Gas Station in flames photo by J R Paul
All commercial activities were halted Tuesday afternoon when the Aminata Filling Station at the intersection of Lynch and Carey streets in Monrovia was gutted by fire.
Market Forces Must Dictate Petroleum Price
Published: 19 March, 2008
Price of Petrol: genuine shortage or black market profiteering?
The petroleum sale in Liberia may gradually head for the black market if the Government does not move in quickly to arrest issues with importers surrounding the price.
Gov't Consults Business Community
Published: 17 March, 2008
President Ellen Johnson-Sirleaf She withdrew the bills for consultation
The Government of Liberia has opened a dialogue with the Liberian business community to provide more clarification to the community on the proposed Investment Act of 2007.
ECOBANK now in Malawi, Congo
Published: 14 March, 2008
The ECOBANK Group has acquired a majority interest in Loita Bank Malawi, a subsidiary of Loita Capital Partners International. The bank will change its name to Ecobank, Malawi. This acquisition extends the ECOBANK Group reach to southern Africa.
LEDFC Loans US$1.7M to Businesses
Published: 13 March, 2008
MONROVIA, The Liberian Enterprise Development Finance Company (LEDFC) has disclosed that it has disbursed a total of US$1.7 million in loan to capitalize Liberian-owned businesses.
Mittal's Chief Engineer Vlado Jurcic, measuring the train track with a high rail pick-up
The multi-billion dollar mining company, Mittal Steel, has embarked on a major phase of the implementation of its projects in Liberia. Arcelor Mittal is the world's largest steelmaker.
New Firestone Agreement Hitches
Published: 10 March, 2008
MONROVIA, The amended version of the concession agreement reached between the Government of Liberia and Firestone-Liberia, has encountered problems sailing through the Lower House owing to a misunderstanding that has evolved among representatives over which committee handles the ratification.
The world is increasingly becoming a difficult place to live in. The new phenomenon is economic recession which is sending many more suffering. In the modern capitalist economy, the forces of supply and demand determine the prices of goods. The capitalist economy leaves limited room for government control of prices, paving the way for private sector control of the economy. The prices of goods and services continue to increase on a daily basis. This is further exacerbated by the worrying downturn or recession in the United States and other powerful economies in the world. The US has the biggest economy in the world but commodity prices, especially oil price, have reached a startling hike. Oil price has hit a record US$104 per barrel in the US causing huge inflation. This hike is equally affecting the prices of basic commodities in the US and other countries while, at the same time, contributing largely to a further weakening of the value of the Dollar.
MONROVIA, President Ellen Johnson-Sirleaf has disclosed that the sharing of the revenue by Liberian International Ship and Corporate Registry (LISCR), a company that has been running the Liberian Maritime Program for the past 10 years, has left the Government a bit 'short-changed'.
Cocopa to Revitalize Its Processing Plant
Published: 05 March, 2008
As the condition in the Cocopa Rubber Plantations in Nimba County continues to improve, the management has disclosed that its processing plants will get ready for use in 2010.
Rapid Transfer: An Excellent Bank Product
Published: 05 March, 2008
Mr. Adolphus D. Tweh, head of Operations, Ecobank Liberia Limited
Every banking institution in the world seeks to attract their customers in many ways. Some do so by offering quality services to maintain existing customers and to attract new ones. Others provide extra security to protect their customers' deposits. Generally, most banks ensure that depositors' interests are increased periodically.
President Sirleaf and LISCR's General Manager Joseph Keller at the Symposium
We're World's Second Largest Ship Registry
Published: 04 March, 2008
MONROVIA, "Today, we are the second largest ship registry in the world with over 2,600 ships of 80 million gross tons, which represents 10 percent of the world's ocean-going fleet. As the world's premier open ship registry, the Liberian Maritime Program is renowned for quality, efficiency, safety, and service. Liberia is recognized at the top of every industry 'white list' including the International Maritime Organization and the major Port State Control authorities."
US$1.6B Mining Also Eyes Community Dev.
Published: 03 March, 2008
Delta's CEO Heine van Niekerk
South African-owned Delta Mining Consolidated (DMC), which was declared provisional winners of the western iron ore cluster bid in Liberia, has assured Liberians that its action plans will give maximum attention to community development.
Ellen Withdraws Draft Investment Act 2007
Published: 29 February, 2008
President Ellen Johnson-Sirleaf
MONROIVIA, President Ellen Johnson-Sirleaf has withdrawn the draft Investment Act of 2007from the National Legislature. The Bill sought to repeal the Investment Incentives Act of 1973 and to provide for a liberal investment climate in Liberia.
Revamp of Freeport in the Offing
Published: 29 February, 2008
MONROVIA, It seems that the caveat call made by authorities of the Freeport of Monrovia that the port may collapse if nothing is done about it has been answered as a port users group eyes it for "huge" investment.
Operations managers of the South African-based mining company, Delta Mining Consolidated, will arrive in the country today for further talks with the Liberian Government.
As the National Legislature deliberates the proposed Investment Bill seeking to liberalize the investment climate of Liberia, mixed reactions have begun to emerge from some members of the business community, government officials as well as the general public. Though the strongest opposition yet on the Bill is coming from the Liberia Business Association (LIBA) headed by Mr. Samuel Mitchell, most business operators in the country have raised their voices calling on the lawmakers to pass the Bill. As part of our professional mandate to the general public and the need to create a conducive business climate for all in Liberia, this column has decided to publish excerpts from the Investment Incentives Act of 1973 also known as the Liberianization Act, the proposed Investment Act of 2007, comments from some members of the business community and the 26 businesses in question.
