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Energy - Haiti Observer Blog

Energy, Haiti Observer Blog. Read the following articles about Energy


 

Haiti GB Group made acquisition in the petroleum sector

GB Group has become the first multinational company in Haiti to have over 360 service stations. This happened when the Haiti-based company's Energy division acquired Chevron's fuels marketing and aviation businesses. The acquisition involves the businesses in the Dominican Republic and Jamaica's St. Maarten.

Under the acquisition deal, the GB Group now has control over some 220 retail service stations that Texaco Brand operates. The deal also involves airport refueling operations and fuel terminals.

GB Group chairman Gilbert Bigio welcomed the deal, calling it an "important milestone." He added that the acquisition is a huge part of the company's plans to develop the local market, as well as grow globally. The transaction really goes well with GB Group's goals and vision, Bigio said. The chairman also shared that the acquisition is a golden opportunity that everyone in the company has been awaiting. It is known that since its establishment in Haiti in 1896, GB Group has been taking measures and initiatives to expand not only in Haiti but also in the international market. And the company's takeover of Chevron's divisions is a testament that GB Group's efforts are not going down the drain.

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Green energy vocational training program in Leogane, Haiti

Haiti is one of the poorest countries around its region of location. It has for a very long time suffered greatly from bad governance which has been transferred from one generation to another with little success at cubing it. Natural calamities have not given the country a chance either the recent 2010 earthquake being a very good example of what they have been doing to the country. It is for this reason that there has been dire need for a good and reliable solution that would change all this.

One of the most advocated for ways to cub this problem is the introduction of Green energy vocational training program in Leogane. This plan is meant to among many other things introduce a source of power for the Neges Foundation so that it can develop a platform for sustainable operations that can allow them to scale up their educational programs for children. This is mainly because education is a vital part of a country`s economy plans for the future. It is estimated that over 25% of the nation`s children do not complete their education since they drop out of school and even universities so as to find jobs that can allow them lead close to normal lives like they all dream of.

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Leopard Capital Gives Haiti its First Private Equity Fund

Leopard Capital has inked a deal with the International Finance Corporation (IFC) to set up the first private equity fund to re-energize Haitian small and mid-size enterprises (SMEs) wiped out by the 2010 earthquake.

With a goal of securing $40 to $75 million to re-capitalize Haitian businesses, the Leopard Haiti Fund (LHF) has attracted $20 million in funding from three development banks: IFC, LHF's senior partner, has invested $8.5 million; the Netherlands Development Finance Company (FMO) $8.5 million; and Multilateral Investment Fund (MIF) $3.0 million.

LHF will pour financing into four potential-growth areas: food manufacturing, sustainable energy, tourism, and low-income housing. The bulk of LHF's financial resources will help already-open businesses grow by re-capitalizing operations and restoring structural damage. A portion of LHF's investment funds will support SMEs and new businesses.

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Call for strike today in Haiti against the rise of fuel prices

There wasn't supposed to be any activity on the streets in Haiti this Monday, march 28. Haitian unions called for a one day strike on Monday to protest the increase in fuel price by the Haitian government.

Based on the new rate, the gas prices were to increase as follows: The price of one gallon of one gallon is to be increased by 55 cents, or from $4.10 to $4.65, US. One gallon of diesel would jump to $1.00, or from 2.77 to 3.77. Finally

The strike called by Haitian Union was to start at 6:00am, on Monday and the goal was to force the Haitian government to bo back to their decision and continue to subsidize the fuel

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