Liberia | Africa Inc.

World Bank to finance smallholder farmers and agri-enterprises in Liberia

June 8, 2021June 8, 2021 Frank

LIBERIA – The World Bank has approved a new financing to increase productivity and market access for smallholder farmers and agri-enterprises in Liberia. This new financing targets 60,000 persons, 50 percent of whom are women, mainly smallholder farmers and agri-entrepreneurs (private agribusiness investors, cooperatives, and SME processing or providing other services to agri-food systems) who are engaged in the selected value chains. Funded by the International Development Association (IDA), the US$55 million credit financing will seek to address challenges for developing agri-food value chains and pave the way for rural economic transformation. This Rural Economic Transformation…

IRC Liberia receives US$17.8m from USAID to support community health program

February 11, 2021February 11, 2021 Frank

LIBERIA – International Rescue Committee (IRC) Liberia has received a US$17.8 million grant from the United States Agency for International Development (USAID), to support the government of Liberia’s National Community Health Program. The IRC has been working in Liberia since 1996 and has supported thousands of people whose lives and livelihoods are shattered by conflict and disaster to survive, recover and gain control of their future. Approximately 29% of the Liberian population, and 60% of the rural population live more than 5km from a health facility. With a host of…

Escotel secures US$25m from World Bank’s MIGA for solar power generation in West Africa

January 22, 2021January 22, 2021 Frank

WEST AFRICA – Escotel Mauritius, an energy services company, has secured a guarantee of up to US$25.6 million from MIGA, a member of the World Bank Group, to cover its investments in solar power generation in Sierra Leone and Liberia for a period of up to ten years. The MIGA guarantees provide protection to Escotel Mauritius against the risks of Transfer Restriction, Expropriation, and War and Civil Disturbance. MIGA’s guarantees will support the provision of electricity and logistical services to power existing and future cell phone towers (Telecommunication Network Sites…

InfraCo partners GLS to construct commercial warehousing facility and operations

January 13, 2021 Frank

LIBERIA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and Global Logistics Services (GLS) have signed an Engineering, Procurement and Construction (EPC) contract with Liberian contractor, BMC Group, to enable construction to commence on the Liberia Inland Storage Facility (LISF) project. InfraCo Africa will be the majority shareholder in the project which will develop Liberia’s first open-access commercial warehousing facility and operations. LISF is being developed by InfraCo Africa, with CPCS Transcom (CPCS) acting on their behalf, in partnership with Liberian logistics company GLS Group. “The LISF…

Libtelco receives third mobile operating license to strengthen competition in mobile telephony services

October 28, 2020October 28, 2020 Frank

LIBERIA – The Liberia Telecommunications Authority (LTA) has granted a third mobile operating license to government-owned operator Liberia Telecommunications Corporation (Libtelco) to provide mobile voice and Internet services to the public. The licensing of a third operator is expected to strengthen competition in mobile telephony services in a market dominated by two foreign operators, Orange Liberia, a subsidiary of Orange Network, and Lonestar Cell MTN, a subsidiary of MTN. Libtelco has primarily focused on the distribution of fiber optic Internet services. The new license now authorizes it to also provide…

Liberia secures US$9.6m from CCAF to support climate resilient agriculture

October 6, 2020October 6, 2020 Frank

LIBERIA – The Government of Liberia has secured US$9.6 million (about L$2 billion) from the Climate Change Adaptation Fund (CCAF) for a project aimed at developing a climate resilient agriculture in the country. The project “Building Climate Resilience in Liberia’s Cocoa and Rice Sectors” is an initative of the Environmental Protection Agency of Liberia. The project’s main aim is developing programmes to help developing the country adapt to the adverse effects of climate change. According to CCAF, Liberia is one of the African countries affected by climate change resulting to…

World Bank approves US$10.5m funding to support Liberia’s agriculture sector

May 29, 2020May 29, 2020 Frank

LIBERIA – The World Bank has approved US$10.5 million funding to support Liberia’s Ministry of Agriculture COVID-19 Food Security, Nutrition and Livelihood plan. The funding is drawn from the Contingency Emergency Response Component (CERC) within the World Bank’s funded Smallholder Agriculture Transformation and Agribusiness Revitalization Project (STAR-P) in Liberia which kicked off in 2019. STAR-P is directed and supervised by the Ministry of Agriculture (MoA) and aims to increase agricultural productivity and commercialization of smallholder farmers for selected value chains in selected counties of the country. According to a report by Front…

Nkechi Joyce Arizor appointed as UBA Liberia’s MD

February 25, 2020February 25, 2020 Frank

LIBERIA – United Bank for Africa, a Pan-African bank with a presence in twenty African countries, has named Madam Nkechi Joyce Arizor as MD/CEO of UBA Liberia. Ms Nkechi, a Certified ISO Auditor, replaces Olalekan Balogun who served as MD/CEO for nearly four years. Nkechi has an MBA in Management from the University of Nigeria, an M. Ed (Educational Management and Planning) from the University of Port Harcourt and a B: Ed Certificate from the University of Ibadan. She comes with a wealth of experience in banking having started her…

UBA Liberia, Orange partner to bring digital finance to Liberians

January 28, 2020January 28, 2020 Frank

LIBERIA – United Bank for Africa (UBA) Liberia Limited in partnership with Orange has launched the Mobile Money Push and Pull Service for customers of both entities. The service, known as Bank to Wallet will enable UBA customers to deposit or withdraw money from their accounts to their Orange Money Wallet and vice versa. The service will also allow customers to do bank account balance inquiry and check their last 5 bank transactions. UBA Managing Director Mr. Olalekan Balogun while speaking at the event expressed satisfaction with the partnership and…

Liberia, World Bank Sign US$3.7m agreement to boost fisheries sector

January 26, 2020January 26, 2020 Frank

LIBERIA – The Government of Liberia and the World Bank have signed a US$3.7 million Project Preparatory Advance (PPA) document intended to set the pace for a bigger International Development Association’s US$40 million to support the fisheries sector. The new project which will be implemented in Montserrado and four other sites to be selected in four coastal counties will involve investments in improving the management of selected fisheries, improving the handling of fish and fish products and support for aquaculture. The World Bank Country Manager also outlined that the US$3.7…