Liberia: Latest News
Mark Rausch, 6:36 pm AFKI Original
After centuries of slave trade and British colonial rule, Nigeria was made a British protectorate in 1914, and the Seal of Solomon was raised — a green star on a red disk, representing the colony of Nigeria. In 1959, on the verge of independence, a national flag contest was announced. Michael Taiwo Akinkunmi, a student living in London, beat out more than 3,000 contestants. On the day of autonomy, Oct. 1, 1960, the new flag was raised. Green represents forests and natural wealth. White represents peace.
Dana Sanchez, 6:28 pm
Ibrahim got rich on telecommunications, but he has invested millions in good governance. “Power corrupts absolutely,” Ibrahim said. He called for more international outrage over stolen elections. “People are learning how to steal elections because that looks less brutal than saying ‘I’m president for life,'” he said. “There is a limit to how long they can go on stealing elections. More and more of these elections are being subject to the harsh light of … social media.”
Kevin Mwanza, 6:50 am
Liberia, the oldest independent nation in Africa is set to get its first stock market after President Ellen Johnson Sirleaf and Milton Weeks, the Central Bank Executive Governor sent draft acts to the senate last week. The move came nearly six years after the West African nation initiated plans to set up the securities market. The lack of a middle class with the ability to invest in companies listed on the securities exchange is a major reason that has held back the nation
Dana Sanchez, 2:32 pm
A U.S.-based fashion startup showcasing African designers is just one of the funding deals announced this week at the U.S.-Africa Business Forum. The world watched as African and U.S. CEOs and leaders talked trade. For one New York fashion startup, it’s the kind of advertising money can’t buy. Kenya was also a big winner, scoring a new Nairobi office for OPIC, which mobilizes private capital to advance U.S. foreign policy. The office — OPIC’s third in Africa — will raise Nairobi’s profile as a hub for investors seeking big-ticket infrastructure deals.
Keren Mikva, 5:11 pm AFKI Original
Burkina Faso’s De La Sébure mixes the warmth of African colors with modern European styles, reflecting the founder’s native Burkina Faso and adopted home in Europe. The clothes use elegant flair, vibrant colors, and refined materials to create something entirely its own. De La Sébure is one of 30 top designers from African countries being showcased at an African fashion reception, underway at the African Union headquarters in Addis Ababa.
Staff, 10:17 pm
Nigeria continues to play a stabilizing role in African peace and economies, said Liberian Vice President Joseph Boakai. Nigeria was the first African country to come to Liberia’s aid in restoring peace after the Liberian civil war. Nigeria also showed love for Liberia during the Ebola outbreak which ravaged the country in 2015. In addition to most banks and insurance firms being owned by Nigerians, Liberia is home to many Nigerian educators and medical doctors.
Keren Mikva, 2:56 pm
Nine out of the 10 biggest produce exporters to the U.K. are E.U. member countries. Potential changes to E.U. tariffs and the falling value of sterling have forced some retailers to consider sourcing from different countries. U.K. produce importers say they expect to see more produce from Africa. South Africa is already the No. 2 source of fresh fruit to the U.K. after Spain, and Kenya may become a beneficiary of the changing trade patterns.
Dana Sanchez, 5:52 pm
Today, 80 percent of all West African airline traffic is carried by non-African carriers and about 15 percent by non- West African carriers. East African airline Kenya Airways recorded a 28 percent increase in passengers in West Africa for the year ending June 2016. Yet West Africa, with 40 airports and 300 million population in 15 countries, has no strong airline and no airport hub. Several airports are vying to be hubs.
Dana Sanchez, 3:41 pm
Energy represents more than 15 percent of the total cost of mining production — reason enough to reduce energy use. But mining companies tend not to pay attention to cost during boom times. The collapse of the emerging market commodities boom has miners scrambling to reinvent themselves. With ample wind and solar at their disposal, 80 percent of new African mines are expected to be partly clean energy-dependent by 2026. In Africa, the future power demand from mining will come overwhelmingly from Southern Africa, says World Bank.
Lillian Mutiso, 4:47 am AFKI Original
Africa is known for its vast potential of mineral resources. It is a great investment destination for foreign business organization from across the world. Investors’ desire to do business on the continent depends largely on the ease of company registration with regard to meeting legal and regulatory demands. According to the World Bank’s Ease of Doing Business Index, a transparent and smooth registration process woos investors to any nation.
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