Africa > West Africa > Liberia > Banking / Investment

Banking / Investment in Liberia

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • We live in a region with strong growth

    BENIN, 2016/08/18 Turnover on West Africa’s BRVM bourse additional than doubled over the completed year, reaching 209.26 billion CFA francs ($362.2 million) in late May. “We benefited from a favorable context. We live in a region with strong increase,” Edoh Kossi Amenounve, the manager of the stock exchange told reporters on Tuesday.
  • ECOWAS Bank to focus on economic growth

    BENIN, 2015/07/28 The ECOWAS Bank for Investment and Improvment(EBID) says it would continue to focus efforts on providing support to private and public sector initiatives to grow the economies and create jobs in the sub-region. Mr Bashir Ifo, EBID President, said everything would be done to lift the people out of poverty and transform their economic situation. Evidence of this, he said could be seen from the bank’s assistance in areas of infrastructure, agriculture and private sector development.
  • Liberia: L$8,639 Million in Circulation Since 2014

    LIBERIA, 2015/02/13 The Central Bank of Liberia (CBL) has reported that the total all of Liberian dollars in circulation at the end of November, 2014 stood at L$8,639.3 million, reflecting a decline from L$9,468.0 million at the end of December, 2013. According to the Annual Statement of the bank covering January 1 to December 31, 2014, released recently, it revealed that of the total money in circulation, currency in the hands of the public accounted for 83.8 % down from 87.4 % at the end of 2013. It said the fall of the currency was on account of a 12.5 % plunge outside the banks which offset a 16.9 % increase of currency in banks. The CBL as well explained that the conduct of monetary policy has been directed towards containing inflation through a additional stable exchange rate.
  • Liberia's Central Bank Moves to Reduce Ebola Stress On Lenders

    LIBERIA, 2015/01/04 Liberia's central bank has waived default charges and extended repayment periods on loans to commercial lenders as part of a series of measures aimed at reducing the impact of the Ebola outbreak on the economy. The central bank will as well pay off outstanding loans taken by schools that were forced to close because of the viral illness, the central bank governor Joseph Mills Jones told reporters on Wednesday in the capital, Monrovia. "Increase in the West African country's economy is expected to slow to one % over the next three years, compared with previous estimates of about 6.6 % because of the disease," he said. The steps taken by the bank will "help commercial banks in restructuring and refinancing the private sector to ensure a rapid recovery of the economy," Jones said.
  • Liberia becoming more popular as investment destination

    LIBERIA, 2012/12/09 This represents Liberia‘s largest private investment transaction, allowing the Australian company to mine iron ore in newly-discovered deposits in four counties: Nimba, Bong, Margibi and Grand Bassa. The areas to be covered represent “brand-new green field projects,” said Richard Tolbert, chairman of Liberia’s National Investment Commission (NIC), who has been instrumental in negotiating the country’s investment agreements. He said it was encouraging when companies carried out “new explorations, find new resources and invest in them”. Prior to the BHP Billiton agreement, Liberia had concluded two other largest deals in the sector, with ArcelorMittal at $1.5 billion and China Union at $2.6 billion.