Business | - Part 2

The Authority also directed the commission and the central banks to accelerate the operation of the Special Fund for financing of programmes in the revised Roadmap for the ECOWAS Single Currency Programme. “It further directs the commission to ensure implementation of the recommendations of the meeting of the ministerial committee held in Abidjan on June 17 and June 18 as well as preparation and implementation of the Communication Strategy for the single currency programme.

ECOWAS Adopts ECO As Single Currency

June 30, 2019 admin2Ecowas, Single Currency0 comment

Nigeria Agency News: The Authority of ECOWAS Heads of State and Government on Saturday adopted ECO as the name of the single currency to be issued in January 2020. The leaders at their 55th Ordinary Session in Abuja endorsed the name while congratulating the Ministerial Committee on the Single Currency for the considerable progress recorded in the implementation of the revised roadmap. In the communiqué read by Mr Mustapha Suleiman, Nigeria’s Permanent Secretary, Ministry of Foreign Affairs, the Authority instructed the ECOWAS Commission to work in collaboration with…

It has become a pungent phenomenon in the history of humanity that discredited regimes faced with the heroic defiance of a mobilized people against all the filths and dirty tricks of the establishment, fearing that playing hardball would lead to its decisive crushing under the revolutionary weight of the enraged masses, agents of such bankrupt order would collapse into political posturing and dangle before the people a call for unity and dialogue—an inglorious pretext meant to save the neck of the regime from the noose in order to continue the spree of social domination.

Business News

George Weah Call For Roundtable Talks On Economy Absurd

June 17, 2019 admin2Economy, Liberia, Weah0 comment

Resistance 10– George Weah Calls for a roundtable on the economy: an infantile hot air beyond absurdity The Editor, It has become a pungent phenomenon in the history of humanity that discredited regimes faced with the heroic defiance of a mobilized people against all the filths and dirty tricks of the establishment, fearing that playing hardball would lead to its decisive crushing under the revolutionary weight of the enraged masses, agents of such bankrupt order would collapse into political posturing and dangle before the people a call…

The UN Envoy expressed commitment to working with the Liberian Government in achieving the Pro-poor Agenda for Prosperity and Development. However, he noted that UN adheres strictly to its fiduciary standards to safeguard UN funds against misuse and integrity risks.

Business News

Can The IMF Safe Liberia?

June 15, 2019 admin2IMF News, Liberia0 comment

Lawrence Kennedy I am always fascinated by the faith developing countries place in a supranational organization like the International Monetary Fund (IMF) and the World Bank to swoop down into a country and save it from social and economic meltdown. I will approach this short opinion piece by tackling two concepts. The first one is easy, and the second – a bit difficult. The first claim is to demonstrate that supranational organizations like the IMF is the problem and they are more apt to create an atmosphere…

Leelai is an advocate with clear focus on private sector development, developing suitable environment, strategy for international investors with focus on doing business in Liberia, West Africa and encouraging international increase in trade and commerce.

Business News

Meet The Liberian Business Executive: Leelai Kpukuyou Who Is Shaking up Things

June 3, 2019 admin2Leelai Kpukuyou, LIBA, Liberia0 comment

Who is Leelai? Leelai is a Liberian businesswoman who stands out as a successful Entrepreneur with demonstrable record of achievements in her business endeavors over the past nine years. Leelai is a Liberian Entrepreneur who emerged from a humble beginning, under the mentorship of her mother, to becoming an Actor in Liberia’s successful post-war economic recovery. Leelai has keen sense and ground knowledge on the day-to-day business environment of Liberia in most sectors of the economy. Due to her consistent work and tireless innovation rooted in trust, she…

Business News

Pan-African Free Trade Deal Is In Effect Now

June 3, 2019 admin2Africa, Free Trade0 comment

After years of painstaking negotiations, the African Continental Free Trade Area (AfCFTA) agreement finally came into effect on May 30. Yet huge obstacles remain as African leaders iron out legislation on inter-state agreements and build the infrastructure needed to enable regional trade. In a major boost to the regional integration agenda, the first phase of the Africa’s continent-wide free trade agreement, signed by 44 African countries in Rwanda in March 2018, was finally completed last week. The agreement, which plans to boost regional trade by 54% by cutting…

Another finding said, “The money issued from the vault daily and disbursed to beneficiaries from the bank’s United States Dollars operational vault was not posted to the bank’s accounting system in real time. For example, money taken from the vault between the periods July 17 – 31, 2018 was not posted to the vault until August 1, 2018 in lump sum. The lump sum amounts posted were without supporting schedules…”

Business News

Liberia: $25 Mil Mop Up Exercise Audit Report “Indicts” Govt Officials

May 18, 2019 admin2Liberia, Missing 25million0 comment

Auditor General Report on $25 Million Mop Up Exercise Monrovia, Liberia – May 16, 2019: The Liberian Auditor General Report of Factual Findings of the application of $25 million dollars to mop up excess Liberian dollars on the market has been released and “indicts” the Government officials who managed the exercise. African Star is reporting that based on factual findings of the Auditor, field visits were conducted to ascertain entities which participated in the Mop Up Exercise as listed by the Central Bank of Liberia in its…

Business News

Liberia: Ruling Party Chairman Gives MTN Ultimatum

May 2, 2019 admin2CDC, Liberia, Ruling Party0 comment

Liberia: Ruling Party Chairman Gives MTN Ultimatum to Break Partnership with Liberian Businessman Benoni Urey Monrovia – Mulbah Morlu, chairman of the ruling Coalition for Democratic Change (CDC), has given an ultimatum to Liberia’s longest existing cell phone company, Lonestar Cell MTN, to distance itself from Mr. Benoni Urey or risks a repercussion, which the CDC chairman termed “citizens’ withdrawal from the company services”. Morlu, at a news conference Wednesday, May 1, told journalists that Mr. Urey, along with his allies, is allegedly using the GSM service provider as a…

In the case of Singapore, it was their geostrategic positioning between a developed West and a developing East. By harnessing labour and later human capital development, they succeeded in positioning the country as a hub for shipping, and later finance and services, transforming Singapore from a fishing village to a global power-house. Today Singapore is ranked 4th on the Global Financial Centres Index which assesses five key areas of business environment, financial sector development, infrastructure factors, human capital and reputation.

Business News

How to make South Africa rich

April 26, 2019 admin2Manufacturing, South Africa0 comment

EDINBURGH — When Nelson Mandela became president in 1994, South Africans were brimming with optimism about the future. The country has vast mineral and human resources. But, instead of post-apartheid leaders ensuring that South Africa would ratchet up the league table of countries with the best economic growth, as China managed to achieve when it shook off the legacy of Chairman Mao from the 1980s, South Africa’s political heavyweights focused on self-enrichment. Years of corruption and mismanagement have taken their toll, with economic growth in steady decline since 2000. Now that the…

The key findings by the report indicated that the actual interest cost to the government over the duration of the loan is estimated at US$62,651,520 or 12% of the loan. This excludes other charges and default penalties that may accrue. Total repayment is estimated at US$599,051,520.

Business News

536.4M Loan Could Have Serious Consequences for Liberia’ -CePAR

May 30, 2018 admin2Eton Loan, Liberia, Weah0 comment

The ETON Finance PTE Limited-Government of Liberia Loan Agreement worth US$ 536.4 million and currently before the Legislature for ratification may have serious financial repercussions if the Legislature approved the deal, a 21-page document issued by the Center for Policy Action and Research (CePAR) said in a release yesterday. The analysis was done by CePAR’s Stephen R. Johnson (lead), Francis Kiazolu, Alieu F. Nyei and M. Boakai Jaleiba, Jr. The release said they analyzed both the loan agreement and the company’s capacity to provide the service to the…

With more than 1,800 staff, Stanbic employs more people than any other bank in Uganda. Management has had to think of ways to keep costs lower while the maintaining full coverage of the country. Such strategy has come at the cost of reducing employment and having to relocate some of their branches to rather cheap locations.

Business News

Standard Bank eyes expansion into francophone West Africa

April 11, 2018April 11, 2018 admin2Africa, Business, Standard Bank0 comment

South Africa’s Standard bank is set to expand its operations into francophone West Africa.The bank is riding on a chinese investment drive into Ivory Coast to establish a foothold in the region.Chinese authorities and companies have committed over $7.5 billion over the next few years to invest in infrastructure in the Ivory Coast. “By virtue of our relationship with the ICBC (Industrial and Commercial Bank of China) we think we’re in a position to provide advice, structuring and the capability to deploy the resources necessary to get involved…