Banking / Investment in Liberia
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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.
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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.
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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.
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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.
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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.
