VENTURES AFRICA — Nigeria’s president Dr Goodluck Jonathan has flagged off the construction of General Electric’s $1 billion engineering service, manufacturing and assembly facility in Calabar, capital city of Cross River state. The ground breaking ceremony is a follow-up to the Memorandum of Understanding (MoU) between Nigeria and GE signed on the 31st of January [...]

VENTURES AFRICA – Ghana is drafting a law under which 30 percent of foreign investments must be ceded to Ghanaians under the revised Ghana Investment Promotion Center (GIPC) Bill currently before parliament. The Chairman of the country’s parliamentary Trade and Industry Committee, Alhaji Amadu Sorogo disclosed this. The revised GIPC bill partly seeks to empower [...]

VENTURES AFRICA – The Western Union Company (NYSE: WU), a leader in global payments services, on Tuesday said that Nigeria is at the forefront of the company’s expansion plans in Africa – facilitating reliable cross-border payments with a growing retail agent network and expansion into new channels with mobile payments and account-based money transfers. On [...]

VENTURES AFRICA – United Bank for Africa Liberia (UBAL) and three other banks have syndicated a medium-term loan deal worth $25 million for Liberia’s premier GSM Company, Lone Star Communications Company, also known as Lonestar Cell MTN. The three other investing parties were Ecobank Liberia Limited, Liberia Bank for Development & Investment and Guaranty Trust [...]