The Liberian economy, the country that once served as the gateway for Africa, is suffering from huge trade deficits. The country's import far surpasses its exports, according to a data released to this columnist by the Trade Promotion office of the Ministry of Commerce and Industry in Monrovia. This office is directly under the Foreign Trade Department at the Ministry of Commerce and Industry (MCI) is responsible to track data on import and export.
BMA Boss Emphasizes Safety in Vessel Registration
Published: 29 June, 2009
Mr. Kessely (right) certificates a participant from The Gambia
MONROVIA, As Liberia trails Panama as the world's number one flag state in vessel registry, Bureau of Maritime Affairs (BMA) Commissioner Binyah C. Kesselly has emphasized that the Liberian registry will not register any vessel that does not meet safety requirements by the International Maritime Organization (IMO). According to Mr. Kesselly, the Liberian registry will only register vessels that are 16 or more tons gross higher. “If you look at the average ages of the vessels we register, our registry beat that of the Panamanian registry 10 to 15 years,” said Commissioner Kesselly.
Liberia's Maritime Program
Published: 26 June, 2009
BMA Commissioner Binyah C. Kesselly
What's Being Done? Liberia's maritime program is on the right trajectory to recovery, after years of fallouts with international ship owners, as a leading global maritime program after successive years of civil crisis and bad management by some past administrators. The program has emerged from a mere scrap to make the country the second largest flagship in the global shipping industry, next to Panama.
Modern Business Registry in the Making
Published: 24 June, 2009
Nicholas Johnson
Good news for Liberia's investment climate as the Norwegian Registry Development (NRD), a global modern business registry entity that recently won a competitive bid to establish a contemporary business registry in Liberia, is set to complete the establishment of the registry come February, 2010.
BMA Offers US$16M in Budgetary Support
Published: 24 June, 2009
BMA Commissioner Kesselly
MONROVIA, As Liberia's maritime program grows stronger among the comity of global maritime nations, the Commissioner of the Bureau of Maritime Affairs (BMA), Binyah C. Kesselly, has disclosed that the program is targeting to generate US$16 million in support of the country's fiscal budget for 2009/10. The amount will represent a US$2 million increase over the US$14 million the Government generated from the country's maritime program in support of the current 2008/09 fiscal budget.
Water Producers Association Sets up Hygienic Standard
Published: 22 June, 2009
Mineral water producers under the umbrella of Liberian Water Producers Association (LWPA), with the consent of the Ministry of Health and the World Health Organization (WHO), have set up guidelines and standards that every producer must meet to qualify it as a healthy and recognized producer.
US$4M Microfincance Program Launched
Published: 22 June, 2009
BRAC MD Farhad
MONROVIA, A Bangladeshi non-governmental development organization, BRAC Liberia, has officially launched an over US$4 million microfinance program in the country. Speaking at the launch of the program over the weekend, BRAC Country Manager . Mohammad Salam said the program was aimed as their contributing to the reduction of poverty and the creation of employment opportunities. Commenting on the specific objectives of the program, Mr. Salam said the program sought to enhance the income of the poor with emphasis on women in the country.
Buying and Selling on Mobile Phone
Published: 19 June, 2009
A market woman and a farmer work on Trade at Hand
MONROVIA, The Ministry of Commerce and Industry (MCI), in collaboration with a Geneva-based NGO, International Trade Center (ITC), recently completed the test phase of 'Trade at Hand', a cell phone-based system that helps connect market women to more competitive prices for the goods they buy. The system work is similar to posting goods for sale in a newspaper advertisement or online (Craigslist, etc).
‘Reforms Are Working on Business Startup’
Published: 17 June, 2009
Mr. Gabriel Bedell, proprietor, The Red Kitchen
Two years ago and further back, it took 99 days and several unrecorded amount of money presumably in the thousands just to start a business in Liberia. The process of starting a business in this tiny West African economy was cumbersome with bureaucratic bottlenecks that created conditions for corruption. But the processes associated with business startup have begun to improve since the coming into office of the Government of President Ellen Johnson Sirleaf, who recognizes the private sector as the engine of growth.
Water Companies Increase to 40
Published: 16 June, 2009
Cross-section of meeting attendants
MONROVIA,The number of mineral water companies in Monrovia has risen to 40 in the city and its surrounding suburbs.The proliferation of mineral water companies in and around Monrovia has raised eyebrows thus causing the managers and owners of the water companies to convene an emergency meeting on Thursday, June 11, 2209, in the conference room of the Chamber of Commerce on Capitol Hill in Monrovia.In his opening welcome remarks, the president and Chief Executive Officer (CEO) of Jake’s Frost Water, James B. Dennis, informed the meeting that the purpose was to discuss and formulate a way to produce quality and better purified water to the satisfaction of the consuming public.
(L-R): Winner J. William Flomo, Comium Staff and Flomo's brother
John William Flomo, 28, of Gaye Town on Old Road in Sinkor, Monrovia, was on Friday, June 12, 2009, a joyous recipient of Comium Liberia's 'Dream Vacation' raffle draw as declared by the GSM Corporation's computer analysts in Monrovia. According to the organizers of the raffle, Comium Liberia, the 'Dream Vacation' initiative is intended to give Liberians and the greater business community more exposure to other parts of the world.
IBI, GEMAP Strengthen RIA Managerial Team
Published: 12 June, 2009
The Governance and Economic Management Assistance Program (GEMAP) and IBI International have embarked on strengthening the leadership and human resource management training for Managers and Assistant Managers at the Roberts International Airport (RIA) located in Margibi County.
Guest of honor along with Minister Gayflor and others
SMWF Dedicates Two Market Structures
Published: 12 June, 2009
Ms. Mckinizie cutting ribbon to newly constructed LBS Market
MONROVIA, The Sirleaf Market Women's Fund (SMWF) on Tuesday, June 10, 2009, dedicated two new market structures. The structures are in the ELWA Community and almost opposite the Liberian Broadcasting System (LBS) main offices in Paynesville City, Monrovia. Speaking at the dedicatory ceremonies, Minister of Gender and Development Minister, Vabah Gayflor told the audience, who were mainly traders, that the dedicatory ceremonies were in fulfillment of what she termed 'President Ellen Johnson Sirleaf's campaign promise'.
Nigerian Company Reaches Oil Exploration Agreement with NOCAL
Published: 11 June, 2009
MONROVIA, The multi-million dollar oil giant, Oranto Petroleum Ltd, based in the West African state of Nigeria, yesterday signed a Production Sharing Contract (PSC) LB-14 with the Government of Liberia (GOL), through the National Oil Company of Liberia (NOCAL). Oranto Petroleum Limited has been exploring the possibility for oil in Liberia, investing over US$30 million in the exploratory initiative which commenced a few years ago.
Finance Vows Cutback for Delinquent Taxpayers
Published: 10 June, 2009
The Commissioner of Internal Revenue at the Ministry of Finance has announced that the Ministry will soon start the prosecution of delinquent real property taxpayers who have invaded and deliberately denied ordinary citizens their due benefits. Mr. Edward B. Dagoseh told newsmen on Monday June 8, 2009 at his offices that taxes on real property were least collectible as compared to its potentials. The revenue expert named building and land as the two strategic real properties that if given keen and adequate attention will help in boosting the size of the budget.
Mr. Robert Johnson and Foreign Workers at the Hotel
Billionaire Johnson Pledges Commitment to Investment in Liberia
Published: 10 June, 2009
A front view of some of the villas at the hotel
MONROVIA,The founder and chairman of the RLJ Companies, Billionaire Robert L Johnson, says his commitment to investment in post-war Liberia is unrelenting. Speaking Tuesday at a press conference at his Kendeja Villas in Monrovia, Mr. Johnson said his commitment to invest in Liberia began two years ago when he attended the Clinton Global Initiatives (CGI). He disclosed that at that program the Liberian leader President Ellen Johnson Sirleaf spoke and appealed to the American private sector for support for her Government's efforts at national reconstruction.
ETI's CEO Arnold Ekpe (middle) addressing reporters in Ouagadougou
BURKINA FASO, Ecobank Transitional Inc. (ETI), the parent company of Ecobank Group, has announced a stunning US$1.2 billion gross revenue in 2008 representing an increment of 60%. The ETI made the announcement Friday, June 5, 2009 during its 21st Annual General Meeting (AGM) held in Ouagadougou, Burkina Faso, where enthused shareholders in Ecobank had gathered to obtain information about the status of their investment.
Comium Brings Smiles to Dream House Winner
Published: 09 June, 2009
'Dream House' winner Yaya Jalloh receives warranty deed from Manager Ben
One of Liberia's lead GSM communication companies, Comium Liberia, on Friday, June 5, 2009, brought endless smiles on the face of 'Dream House' winner Yaya Jalloh when the warranty deed and keys of the house were presented and received amidst cheers from onlookers. Speaking at the joyous occasion, mainly attended by the dedicated senior and marketing staff of Comium Liberia, and held on the Roberfield highway, the Marketing Manager of the Comium, Tsorporlor Ben, promised his entity's social and economic empowerment of ordinary Liberians.
Airline CEO Urges Empowerment of Liberian Businesses
Published: 03 June, 2009
A prominent airline executive has urged the Liberian Government, businesses and stakeholders in the airline industry of the nation to prioritize the economic empowerment of Liberian businesses to ensure the country's economic viability. Tom Winston Mombo, Chief Executive Officer of Liberia International Travel Agency (LITA), also called on the Liberian Government and other major stakeholders in the airlines business for the urgent enforcement of laws that would give economic empowerment to Liberians.
IFC Earmarks Increased Investment in Liberia
Published: 01 June, 2009
Ms. Kyte
MONROVIA, In a bid to strengthen Liberia's private sector and create jobs in the post-conflict economy as the country rebuilds itself, the International Finance Corporation (IFC), over the weekend, pledged to increase its investment and advisory services support to Liberia. This investment, according to Rachel Kyte, IFC's Vice President for Business Advisory Services, will include increased IFC's venture in commercial banks to minimize interest rates and shared risks.
GT Bank Launches Its Branch in Liberia
Published: 01 June, 2009
Dr.Richard V.Tolbert of NIC,GTBank MD,Dan Orogun and CBL governon Dr.Mills Jones at the luanch event
MONROVIA, Guaranty Trust Bank of Nigeria has opened its first branch in Liberia, in Clara Town, Bushrod Island. Giving an overview of the bank at the opening program, Mr. Dan Orogun, Managing Director of the bank, said GT was incorporated as a limited liability company in Nigeria in 1990. He added that the bank commenced its operations in February 1991 and has since grown to become one of the leading and most respected financial institutions in Nigeria. Guaranty Trust Bank of Nigeria has opened its first branch in Liberia, in Clara Town, Bushrod Island. Giving an overview of the bank at the opening program, Mr. Dan Orogun, Managing Director of the bank, said GT was incorporated as a limited liability company in Nigeria in 1990. He added that the bank commenced its operations in February 1991 and has since grown to become one of the leading and most respected financial institutions in Nigeria.
LBDI managers, bank president Francis A. Dennis, Jr., GM Gloria Menjor and Comptroller John Davies and Mr. Allen
LBDI Congo Town Branch Ready
Published: 29 May, 2009
Amidst growing competition in the banking sector where quality service delivery has become the hallmark for winning customer satisfaction, the president of Liberian Bank for Development and Investment (LBDI), Francis A. Dennis, Jr., has vowed that his bank will remain unmatched in service delivery in the sector. According to Mr. Dennis, LBDI management is aware that service delivery is the key to the country's competitive banking sector, adding, “We will deliver unmatchable services by any other banking institution in the country.”
GOL Re-Examines Projections in Draft Budget 2009/10
Published: 27 May, 2009
When major financial institutions in the United States and other western countries started reporting huge meltdowns beginning last year, many people had thought that the meltdowns could not affect the African markets. In fact, some people argued that the credit crunch was directly restricted to the well-structured western markets unlike our African system. Heads of some leading African banks that are in one way or another operating within the western markets, reported that their businesses had not been affected by the crunch apparently because they were really grounded in those markets.
(L-R) UBA-Liberia CEO Ogbue, Nigerian Envoy Adigun, ECOWAS Rep. Cessay & AU Liaison Diakite
UBA-Liberia Celebrates Africa Day in Pomp, Pageantry
Published: 27 May, 2009
One of Liberia’s potent financial institutions, United Bank for Africa (UBA) Liberia, on Tuesday, May 25, 2009 held an elaborate celebration in commemoration of Africa Liberation Day in fantastic pomp and pageantry in Monrovia.The well-organized ceremony was held at Monrovia City Hall in Sinkor and attended by several high-profile Liberian government officials and West African diplomats accredited to Liberia.
Delta to Begin Direct Flight from Monrovia to USA
Published: 27 May, 2009
A press statement from Delta Corporate Communications Airlines in Monrovia has confirmed that the entity effective June 9, 2009 will commence services between Monrovia's Roberts International Airport (RIA) and New York's John F. Kennedy Airport, via Dakar, Senegal. The press statement also adds that the services follow at the back of Liberian Government's approval of the airlines' official documents.
ULRWI to Engage in Chilies Export
Published: 27 May, 2009
The United Liberia Rural Women Incorporated (ULRWI) on Monday, May 25, 2009, conducted a fund-raising program for the commencement of an agricultural project at a cost of approximately US$100,000, with an objective of promoting national growth, rural economic empowerment, development and poverty reduction strategy.
'Fraudster Had Legal Savings Account at Ecobank'
Published: 27 May, 2009
Flashback: Mrs. Adepoju during the opening of Ecobank Zwedru
MONROVIA, E.J. Sirleaf, the man who attempted to defraud the Government of Liberia of US$1.171 million, had actually established savings account at Ecobank-Liberia, the bank's Managing Director, Mrs. Morenike Adepoju, has told media executives in Monrovia. Speaking Tuesday evening, Mrs. Adepoju said the alleged culprit met all requirements for opening an individual savings account at Ecobank.
Cement Market in Liberia Opens Up
Published: 25 May, 2009
After more than four decades of dominance of the Liberian cement market by a single company, a milestone was dramatically accomplished in Liberia on Monday May 18, when the first shipment of 12,500 mt of high grade cement entered the Liberian Port, with another shipload of 25,000 mt scheduled to arrive in June and every month thereafter. The deal was made possible under a JV partnership arrangement between Fortress Group of New York & Hong Kong, and Srimex Enterprises of Liberia.
ADB Earmarks US$45M for Liberia
Published: 25 May, 2009
The Africa Development Bank (ADB) has earmarked at least US$45 million for post-conflict Liberia. Of this amount, about US$18 million will be directed towards the country's budgetary support in 2009. The money was earmarked at ADB annual meeting held in Dakar, Senegal, in May this year. The meeting focused on the global financial meltdown and Africa's response. The Ministers of Finance and Planning and Economic Affairs, Augustine Kpehe Ngafuan and Amara Konneh respectively represented the Liberian Government at the meeting.
COLINBO Lauds SRIMEX for Breaking Cement Barrier
Published: 25 May, 2009
Mr. Fombah Trawally-COLINBO and Mr. Musa Bility-SRIMEX
A local business organization has made a rallying call to Liberians to support the initiative of a Liberian businessman who has brought cement into the country. The Concern Liberian International Business Organization (COLINBO) described the initiative by Mr. Musa Bility to successfully bring cement into Liberia as a 'new dawn' in the Liberian business history.
ADB Provides US$18M in Budgetary Support
Published: 22 May, 2009
Finance Minister Augustine Ngafuan
MONROVIA, The Government of Liberia, represented by Finance Minister Augustine Ngafuan and Amara Konneh, Minister of Planning and Economic Affairs, has been participating in an annual meeting of the African Development Bank (ADB) in Senegal, Darkar, since May 15, 2009. At the meeting, the ADB provided approximately US$18 million in budget support for Liberia's fiscal year 2009/2010.
LPRC US$24.8M Deal "Overstated"
Published: 19 May, 2009
The House of Representatives has reached a decision to summon the Managing Director of the Liberia Petroleum Refining Company (LPRC), Harry Greaves, for signing and allegedly overstating the value of a contract worth US$24.8 million with Zakhem International Construction Ltd.
Gloria Y. Menjor (fourth from left) posed with LBDI staff and senior Executives including Messrs. M. Swen, AVP & Branch Head, J.K. Baysahwala, M. Young, C.B. Allen, Ms. Edith McIntosh and C. Payman along with other branch staff
LBDI Opens Gardnresville Community Branch
Published: 15 May, 2009
The Management of the Liberian Bank for Development and Investment (LBDI) has opened another branch in Gardnersville. The LBDI Gardnersville Community Branch was opened Tuesday, May 12, 2009. The Bank's executives convened in Gardnesville at 8:30 a.m and gave thanks to the Almighty God for the time and resources afforded them to run the bank over the years and to construct another branch in Monrovia. The Gardnersville Community Branch is LBDI's 12th branch across the country and costs management a little over US$100,000.
Minister Gaye makes remarks as Mr. Doe and Mr. Sheriff (right) listen
Transport Minister Gaye Promises Strong Leadership
Published: 13 May, 2009
Mr. Caesar making remarks at the take-over
A new minister of Transport and a deputy for administration have been sworn in to administer the affairs of that Ministry.. Alphonso Gaye and . Julius Caesar were inducted Monday afternoon as Minister of Transport and Deputy Minister for Administration and Insurance respectively at a well-attended program held at the Transport Ministry in Monrovia. Minister Gaye called for unity among employees and promised to be a 'very strong', trustful and listening minister.
Comium USA Winner walk away with US$2,000.00
Published: 12 May, 2009
Comium winner David Gargar recovering at SDA Hospital
Comium Liberia's GSM Communication Corporation, United States America-designated travel award winner David Gargar, on Thursday, May 7, 2009 beamed with huge smiles when a check of US$2,000.00 was handed to him at SDA Cooper Hospital in Sinkor. The check was delivered by the Marketing Manager of the Corporation, Mr. Ben Tsorporlor.
Universal Group Launches Multiple Projects
Published: 12 May, 2009
Planning Min. Amara Konneh
MONROVIA,Universal Group of Companies (Liberia) inc. has launched housing, transport (Airline), petroleum and humanitarian projects in the country. Program for the official launching of the projects was held at a local hotel, located at the diplomatic enclave of Mamba Point near Monrovia. Speaking at the ceremony, Cllr. M. Osman Kenneh, indicated that this group of companies derived from the original universal construction of the world (Liberia), Inc, a locally based corporation that is one of several of its kind in some African countries.
UBA Liberia Storms Monrovia's Streets
Published: 11 May, 2009
UBA CEO Ogbue handing over booklets to potential customers
As part of its professional marketing strategy, the United Bank for Africa (UBA) Liberia staff over the weekend stormed the principal streets of Monrovia in their search to provide more professional banking services to the Liberian people of all categories. In a chat with a team of reporters, the Chief Executive Officer of UBA Liberia, Ebele Ogbue, pointed out that the foremost intent of the Monrovia street exercise was to take the bank to the communities.
GOL Removes More Bottlenecks
Published: 08 May, 2009
NIC Chairman Dr. Richard V. Tolbert reads the improvements to Vice President Joseph Boakai
Good news for Liberia's private sector as the Government announced the removal of 18 administrative procedures that served as bottlenecks to doing business in the country. There had been enormous pressure mounted on the Government by the business community against mountains of bureaucratic procedures to start a business, trade across borders, obtain construction permits and register properties in the country.
MONROVIA, Crisis has engulfed AccessBank-Liberia as 13 loan officers from Liberia's first-ever microfinance bank go on strike in demand for salary increment. The loan officers began their strike action on Monday, May 4, 2009 causing disturbances in the banking hall claiming that management was insensitive to their plight.
Businessmen along with Madam Broh co-workers with truck in the background
Monrovia Businesses Give Broh's Clean-up a Lift
Published: 08 May, 2009
MONROVIA, The Liberia Chamber of Commerce, in collaboration with Lebanese Business Community, has identified with the Presidential Task Force headed by Mary Broh on Thursday, May 7, 2009, in Monrovia. Speaking during the ceremony held in Lakpazee, Sinkor, Liberia Petroleum Refining Company (LPRC) Managing Director, Harry Greaves, said the group was impressed with the level of clean-up that Madam Broh had carried out in Monrovia and its environs.
Monrovia Breweries Inc. Modernizes Its Plant
Published: 07 May, 2009
The management of Monrovia Breweries Inc. has begun massive reinvestments into its factory in a bid to modernize its plant and brew-house and make them technologically current. In line with the reinvestment and expansion initiatives, the management of Monrovia Breweries Inc. has brought into the country state-of-the-art production equipment and machines.
Dr. Tolbert presents the improvements to VP Boakai while government officials and those from the LBBF and IFC look on
More Reforms, Better Business
Published: 07 May, 2009
MONROVIA,It is becoming better, easier and faster to do business in Liberia as working groups of the Liberia Better Business Forum (LBBF) and the Business Reform Committee (BRC) have once again announced the attainment of 18 additional reforms in the country. The achievement of the 18 administrative improvements, in addition to the 21 administrative reforms achieved last year, summed up to 39 the number of reforms Liberia has attained in two years.
VP Boakai to Receive Reform Scroll Today
Published: 06 May, 2009
(L-r): Messrs. Yaidoo and Freeman
As the need increases to facilitate doing business in Liberia, the Liberia Better Business Forum (LBBF), in collaboration with the Business Reform Committee (BRC), will today, May 6, 2009, present a scroll to the Government of Liberia. The scroll, which will be delivered to Vice President Joseph N. Boakai at his Capitol Building office this morning, contains a number of reforms that have been achieved by the working groups of the LBBF and the BRC.
Ecobank Given Rousing Welcome by Grand Gedeans
Published: 06 May, 2009
GRAND GEDEH,Hundreds of residents of Zwedru city, the provincial capital of Grand Gedeh County, southeastern Liberia, turned out en masse Saturday, May 2, 2009, to give rousing welcome to Ecobank in their County. The occasion marked the inauguration of one of Ecobank's numerous branches across the country and was also the launch of Grand Gedeh County's first-ever privately owned commercial bank since the County was created in 1964.
Grand Gedeh Gets First Commercial Bank
Published: 05 May, 2009
Minister Johnson in handshake with Ecobank Managing Director Mrs. Adepoju while Mr. Zubah (middle) smiles
GRAND GEDEH,It was a significant moment for the people of Grand Gedeh County and the entire southeastern region of Liberia when Ecobank-Liberia Saturday, May 2, 2009, inaugurated one of its branches in Zwedru, Grand Gedeh. The Ecobank-Zwedru branch is the first ever private commercial bank to open in southeastern Liberia. The launching ceremony took place on Towah Street, in Zwedru city, the provincial capital of Grand Gedeh.
(L-r): LPRC MD Harry A. Greaves, Jr., ZICL MD Marwan Zakhem and GEMAP FC Sophie Hobbs at the signing ceremony
LPRC, Zakhem Int'l Sign US$24.8M Deal
Published: 04 May, 2009
MONROVIA,The Liberia Petroleum Refining Company (LPRC) has signed a US$24.8 million contract with Zakhem International Construction Ltd to rehabilitate and expand its Product Storage Terminal (PST) on Bushrod Island to meet international standards.
(L-r): Ministers Boakai and Ngafuan sign the agreement while Chairman Tolbert looks
Liberia Attracts US$800M Investment
Published: 01 May, 2009
(L) Dato' Azhar Abdul Hmid makes remarks
MONROVIA,Amidst the global financial and economic turmoil that is squeezing investors to back-pedal and pull back their resources, Sime Darby, a multibillion dollar Malaysian investment company, has signed a US$800 million concession agreement with the Government of Liberia, promising to boost the country's agriculture sector, especially in the areas of oil palm and rubber in four counties. The counties are Grand Cape Mount, Bomi, Gbarpolu and Bong.
New Petroleum Products Prices Announced
Published: 30 April, 2009
Harry A. Greaves Jr., Managing Director, LPRC
MONROVIA,The Ministry of Commerce and Industry, in consultation with the management of the Liberia Petroleum Refining Company (LPRC), has announced some price changes for petroleum products. The new price ceilings reflect a US 10 Cent per gallon reduction in the price of diesel and kerosene and a US 10 Cent per gallon increase in the price of gasoline effective April 29, 2009.
The Government of Liberia and Sime Darby Berhad will today, Thursday, April 30, 2009 sign a major concession agreement for the cultivation of oil palm and rubber in three Western counties of Liberia. According to a release from the Ministry of Agriculture, a nine-man team from Sime Darby is already in Liberia for the signing ceremony which will take place at the National Investment Commission (NIC) at 11: 00 a.m.
Fuss over Computer Dealership
Published: 30 April, 2009
MONROVIA,Leading computer suppliers are fussing over the trademark rights to provide DELL computers to several government agencies and the United Nations (UN). Scores of computer dealers on one hand and Beever Communications Inc. on the other are claiming legitimate rights over the supply of the computer brand on the local market. The row grew out of the issuance of the DELL trade mark right to Beever Communications Inc. by the Ministry of Foreign Affairs.
CBL: Mixed Performance in Agriculture Sector
Published: 29 April, 2009
The agriculture sector of Liberia registered mixed performance during the last quarter of 2008, the Central Bank of Liberia (CBL) has reported in its final Financial and Economic Bulletin covering October to December, 2008. According to the report, rubber production declined, while cocoa and coffee productions rose. Timber output also increased during the review quarter.
Bookseller Wins US$10,000 from Cellcom
Published: 28 April, 2009
Winner Baryogar displays symbolic check
A 55-year-old Liberian bookseller identified as Robert F. Baryogar was in a joyous mood on Saturday, April 25, 2009 on Capitol Bye-pass when he won US$10,000 from a local GSM communication company cellcom, operating in Liberia.
TOTAL Liberia Joins Anti-Malaria Campaign
Published: 27 April, 2009
Walter Brudermann, Total Marketing Manager, making intervention
As part of its social responsibility, Total Liberia joined the Ministry of Health and Social Welfare (MH&SW) anti-malaria campaign over the weekend to celebrate World Malaria Day. This is part of a global effort to fight malaria. The program was held at Total's Congo Town office with representatives from the MH&SW as well as partners.
LTA Completes GSM Standardization Process
Published: 27 April, 2009
MONROVIA,The Liberia Telecommunications Authority (LTA) has signed additional licensing agreements with three GSM service providers, COMIUM, LIBERCELL and CELLCOM - bringing to an end the GSM licensing standardization process involving all the four existing GSM operators in Liberia. This was contained in an LTA press release reaching the Daily Observer over the weekend.
Liberian Opens Modern Shoe-Making Shop
Published: 24 April, 2009
A Liberian shoemaker has opened a modern shoe-making shop on Capitol Bye-pass in Monrovia. George H. Appleton's shop is furnished with shoe-making machines valued at nearly US$35,000. He said that the machines could be used in the manufacture and/or repair of 'reparable' shoes.
World Bank Approves US$44M
Published: 24 April, 2009
World Bank President Robert B. Zoellick
MONROVIA,The World Bank Group has approved an (International Development Association) IDA Grant of Forty-Four Million United States Dollars (US$44m) equivalent for Urban and Rural Infrastructure Rehabilitation Project for Liberia. This is contained in a World Bank press release reaching the Daily Observer last night.
Customs Commissioner Promises Reforms
Published: 23 April, 2009
Newly-inducted Customs and Excise Commissioner, Madam Decontee T. King-Sackie, says reforms of Liberia's customs system will be the core objective of her administration. According to Madam King-Sackie, successful reforms of the country's Customs and Excise would ensure increased government revenue generation capacity as well as facilitate trade in Liberia.
Thai Ex-Prime Minister Eyes Huge Investment in Mining Sector
Published: 23 April, 2009
Prime Minister Thaksin Shinawatra and Chairman Richard Tolbert
MONROVIA,A Thailand delegation headed by former Prime Minster of that country, Mr. Thaksin Shinawatra, has ended a private visit to Liberia. The delegation held talks with the Chairman of the National Investment Commission (NIC), Dr. Richard Tolbert, in Monrovia on Wednesday.
'Cassava Gravy' Seller Wins Cellcom US$10,000.00
Published: 20 April, 2009
Miss Boyo being escorted to the platform by two of Cellcom officials
The grounds of SOS Children Village in Matadi Estate, Monrovia, was a scene of excitement over the weekend when a 24-year-old girl identified as Matenken Bayo walked away with US$10,000.00 as Cellcom's Be A Millionaire raffle draw winner.
Comdel Media Hits Liberia Shortly
Published: 17 April, 2009
Christopher Nipey (left) with Alvin Jask, a Liberian journalist
A newly-established local media institution is to shortly launch a special public relations program in Liberia. The Jask Info Project (JIP), under the banner Communications for Developments in Liberia (Comdel Media Inc.), in a release issued in Monrovia April 15, 2009, said it would shortly commence a vigorous media campaign aimed at highlighting current efforts of Liberians living in and out of the country, and those in the diplomatic circle.
Comium Gives Away another Offer Dream Vacation Winner Emerges
Published: 17 April, 2009
Proud winner Garga Davis sitting on sick bed.
Mobile communication and broadband service provider giant, Commium, recently drew on its Dream Vacation Promotion. The draw was held at the main campus of the University of Liberia with hundreds of attendants to witness the random selection of the lucky winner.
LBBF Holds Big Meeting Monday
Published: 17 April, 2009
Wil Bako Freeman
The Secretariat of the governing board of Liberia Better Business Forum (LBBF) has announced a meeting of its governing board. The governing board meeting is expected to take place on Monday, April 20, 2009 at La Pointe Restaurant in Mamba Point, Monrovia.
Diaspora Liberian Obeys President Sirleaf's Call
Published: 15 April, 2009
GBARNGA,In adherence to President Ellen Johnson Sirleaf's call that well-meaning Liberians in the Diaspora should come home and help rebuild war-ravished Liberia, Mr. James Darnor, a Liberian, residing in the United States, has returned home to contribute to the rebuilding process. Mr. Darnor, who has lived in the US, along with his family, for nearly 22 years, said that he was in the country to begin establishing entertainment businesses in Monrovia and in other parts of Liberia.
GOL, LISCR Agree New Deal
Published: 14 April, 2009
Flashback: President Sirleaf and LISCR Yoram Cohen at the Executive Mansion
MONROVIA,The Government of Liberia (GOL) through negotiations led by the Bureau of Maritime Affairs (BMA) has agreed a new 10-year deal with the Liberia Ship and Corporate Registry (LISCR) to manage the country's maritime program of 3, 000 vessels and 90 million gross tons. The GOL-LISCR negotiations were marred by controversies including publications of e-mails last year with claims that one of the confidantes of President Ellen Johnson Sirleaf, Willis Knuckles attempted to influence the negotiations.
US$ 25M Investment goes to Putu Administrative District
Published: 14 April, 2009
Mr. MacDonald Wento, CEO. Geblo Logging Company
MONROVIA,Residents of Putu Administrative District in Grand Gedeh County have petitioned the president and chief executive officer of the Geblo Logging Company, MacDonald Wento, to commence logging activities in that area. In their 12-count petition, the citizens said realizing that this company was pre-qualified by the Forestry Development Authority (FDA), and is a regular tax payer consistent with the Business Laws of Liberia, they have “unanimously endorsed [Wento's] company as the sole investor of their choice to carry out logging activities in an area of about 280,000 Acres of land.
Tailor walks away with US$10.000
Published: 13 April, 2009
A 37 year- old Liberian tailor, identified as Bill Sheriff was seen in a joyous mood over the weekend on capitol Bye-pass, when he walked away with US$10.000 from the Management of Cellcom GSM a local communication company in Liberia.
International Bank Opens first, only Bank in Maryland County
Published: 13 April, 2009
Hon. Ralph Wesseh- Pleebo City Mayor, Hon. Regina Samson -Harper City mayor, Mr. Patrick Anumel- Acting CEO International Bank cutting the ribbon to officially open Pleebo Branch
The International Bank (Liberia) Limited (IB) has opened its branch in Pleebo City, Maryland County. The IB branch is the first and only in the County. An IB release said it opened the bank, under a program 'Building Liberia Together' and said the ceremony in Pleebo over the weekend was witnessed by several dignitaries.
GOL Automates Business Registry
Published: 13 April, 2009
Commerce Minister Miata Beysolow
MONROVIA,The Government of Liberia (GOL) has announced the automation of business registration in the country. The GOL made the announcement in Monrovia last Thursday, April 9, 2009 through the Ministry of Commerce and Industry (MCI) on Ashmun Street. The Commerce Ministry has also reduced from three to two, the number of signatures required by importers to obtain Import Permit Declaration (IPD). The Ministry has as well eliminated with immediate effect, the attainment of destination inspection permits (DIP) from MCI.
Despite Global Economic Crisis African Economies in Better Shape
Published: 08 April, 2009
Investment managers of UBA Capital Europe, the London-based affiliate of United Bank for Africa, have made a strong case for the health of African economies. The UBA investment managers have confidently stated despite the global financial downturns, the African continent's economies are in much better shape than ever before to withstand external shocks.
First International Bank Opens Buchanan Branch
Published: 08 April, 2009
The First International Bank (FIB) Liberia Limited has officially opened its branch in Buchanan, Grand Bassa County, to begin banking operations. The commissioning of the branch office, situated at Roberts Street, was performed by the Deputy Minister of Finance, Arthur Fumba.
Despite Global Financial Crisis: Tolbert Optimistic About Liberia's Economy
Published: 06 April, 2009
Dr. Tolbert: 'We will also target new areas for investment attraction'
MONROVIA -- Amidst the global financial and economic downturn that has weakened the world's strongest economies, the Chairman of the National Investment Commission (NIC), Dr. Richard V. Tolbert, says the Liberian economy will triumph over the marauding crisis. He said government needed to place itself in a suitable position to deal with the unfolding effect of the crisis by encouraging and attracting large and small scale foreign direct investments in the country.
Global steel making giant, Arcelor Mittal, announced yesterday that it has refinanced $1.2 billion ($820M) of debt until 2012, as it struggles amidst a global fall in demand for steel. The company also announced that it is to sell US$1.65 billion dollars in bonds to help pay off its debts. Arcelor Mittal had net debt of $26.5 billion at the end of 2008.
UBA Dedicates Monrovia Office
Published: 03 April, 2009
UBA Monrovia Branch
MONROVIA,The United Bank for Africa (UBA) Thursday, April 2, 2009, opened its Monrovia head office. The dedication ceremony took place on Broad Street. Snapper Hill, where the bank's Liberia Branch Managing Director and chief executive officer (CEO), Ebele Ogbue, pledged his bank's preparedness to tackle the economic needs of Liberians. According to Ogbue, UBA will pursue this objective by designing products and services that will help to improve their lives.
Insurance Industry Faces Reform
Published: 01 April, 2009
Mr. A.A. Akolade
MONROVIA,All is on course to institute major reforms of Liberia's insurance industry to raise the standard and practices of insurance business in the country. According to a government insider, the minimum requirement to operate an insurance company in Liberia will be increased to US$1 million during the reform process. Companies that may not afford this amount will either merge with other groups or fold up. The country's insurance industry is grappling with enormous challenges exacerbated by 14 years of civil strife, which has rendered it brain drained and broke. Most of the 22 insurance companies operating in the country are either short of the necessary human resources or enough funds to operate as reputable and competitive insurance companies in West Africa. This has led to further problems, the tarnishing of the industry's image, worsened by the complexity of policy and wordings in contracts and the slow payment of claims.
