Economy -
  • Government rejects trade unions' demand to lower oil prices in Burkina Faso
    18 december 2018 15:23:44
    Ouagadougou, Burkina Faso (PANA) – The Government of Burkina Faso has rejected a demand by trade unions to revert to the old price of fuel after the 75 CFAF increase on a litre of gasoline on 29 October fuelled tension and protest demonstrations in the country, union sources told PANA on Tuesday. Full text...

  • President Issoufou says ratification of the ACFTA treaty progressing
    18 december 2018 14:17:23
    Niamey, Niger (PANA) - The adoption and ratification of the treaty establishing the African Continental Free Trade Area (ACFTA) by African states is progressively evolving, Niger President Mahamadou Issoufou said on Tuesday when his country celebrated the 60th anniversary of independence. Full text...

  • Burkina Faso government to impose new taxes in 2019
    18 december 2018 13:48:28
    Ouagadougou, Burkina Faso (PANA) - The Burkina Faso government is to impose a series of taxes next year as it seeks to broaden the tax net, PANA learned on Tuesday from sources at the Tax Department. Full text...

  • WB strengthens cooperation with Senegal
    18 december 2018 11:47:23
    Ziguinchor, Senegal (PANA) – The World Bank Consultative Group meeting that opened in Paris on Monday on financing for the second phase of Senegal's Emerging Plan (PSE), is an opportunity for the World Bank to strengthen its partnership with the West African country, said Hafez M. H. Gha-nem, the World Bank deputy governor for Africa said. Full text...

  • Some 100 agreements signed at Cairo Intra-African trade fair
    18 december 2018 11:26:23
    Cairo, Egypt (PANA) – The first edition of the intra-African trade fair, which ended on Monday in the Egyptian capital, Cairo, saw the signing of some 100 agreements between participants for an overall value of US$30 billion, said the chairman of the board of directors of the African import-export bank, Benedicte Oroma. Full text...

  • Tuesday's forex rates for Rwandan Franc
    18 december 2018 11:09:15
    Kigali, Rwanda (PANA) - The following are Tuesday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Foreign project loans propel Cameroon’s public external debt
    18 december 2018 11:05:20
    Yaounde, Cameroon (PANA) – Cameroon’s public external debt has increased rapidly in 2018, mainly owing to faster-than-envisaged disbursements of foreign project loans, the International Monetary Fund (IMF) noted in statement on Tuesday after its Board completed the third review of the country’s Extended Credit Facility (ECF) arrangement. Full text...

  • Tuesday's forex rates for the Mauritanian Ouguiya
    18 december 2018 10:23:42
    Nouakchott, Mauritania (PANA) – Following are Tuesday’s exchange rates for the Ouguiya, as issued by the central bank of Mauritania. Full text...

  • Force majeure declared at Libya's Al-Charara oil field after protests
    18 december 2018 10:02:41
    Tripoli, Libya (PANA) - The Libyan National Oil Company (NOC) on Monday imposed a state of force majeure on production at the Al-Charara oil field, which has been closed for more than 10 days by protesters demanding greater interest from the central authorities for the southern region. Full text...

  • Tuesday's forex rates for the CFA Franc in Central Africa
    18 december 2018 09:39:28
    Libreville, Gabon (PANA) – Following are Tuesday’s foreign exchange rates for the CFA Franc, as issued by the Bank of the Central African States. Full text...

  • IMF approves US$2.97bn for Morocco as insurance against external risks
    18 december 2018 09:38:11
    Rabat, Morocco (PANA) - The Executive Board of the International Monetary Fund (IMF) has approved a two-year arrangement for Morocco under the Precautionary and Liquidity Line (PLL) for US$2.97 billion, saying it will provide insurance against external risks, and support the authorities’ policies to reduce fiscal and external vulnerabilities and promote higher and more inclusive growth. Full text...

  • Tuesday's forex rates for the Mauritian Rupee
    18 december 2018 09:32:35
    Port-Louis, Mauritius (PANA) - Following are Tuesday's foreign exchange rates for the Mauritian Rupee as issued by the Commercial Bank of Mauritius. Full text...

  • Rwanda to host second Intra-African Trade Fair in 2020
    17 december 2018 13:33:12
    Kigali, Rwanda (PANA) - Over 2,000 exhibitors in Africa and beyond are expected to gather in Kigali, Rwanda in December 2020 for the second Intra-African Trade Fair (IATF), an official source disclosed Monday in Kigali. Full text...

  • Africa’s industrialisation is real; trade to further its deepening (By Kennedy Abwao, PANA correspondent)
    17 december 2018 12:02:26
    Cairo, Egypt (PANA) – The industrialisation process in Africa is a reality deepened further with the launch of the continental free trade area to accelerate efforts to make Africa the manufacturing hub of the world, African Union Commissioner for Trade and Industry Albert Muchanga has said. Full text...

  • Monday's forex rates for Rwandan Franc
    17 december 2018 11:40:19
    Kigali, Rwanda (PANA) - The following are Monday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Monday's forex rates for the Mauritian Rupee
    17 december 2018 09:13:31
    Port-Louis, Mauritius (PANA) - Following are Monday's foreign exchange rates for the Mauritian Rupee as issued by the Commercial Bank of Mauritius. Full text...

  • AfDB Board approves Bank’s borrowing programme for 2019
    16 december 2018 09:23:23
    Abidjan, Cote d'Ivoire (PANA) - The Board of the African Development Bank (AfDB) has approved the institution’s 2019 borrowing programme to the tune of US$7.24 billion to be raised from the capital markets. Full text...

  • Egypt willing to share experience with African countries in oil sector
    15 december 2018 13:35:28
    Cairo, Egypt (PANA) – The Egyptian minister of Oil and Mining resources, Tarek Malaa, has aid his country is willing to share its experience in the oil sector with African countries. Full text...

  • Libya oil company chief opposes ransom payment to armed militia at al-Charara oil field
    15 december 2018 12:57:34
    Tripoli, Libya (PANA) - The Chairman of the Board of Directors of the Libyan National Oil Company (NOC), Mustapha Sanallah, has kicked against the payment of ransom to the armed militia that has closed the al-Charara oil field saying it will be a dangerous precedent for the revival of Libyan economy. Full text...

  • Saturday's forex rates for the CFAF in Central Africa
    15 december 2018 12:12:42
    Libreville, Gabon (PANA) - Following are Saturday's foreign exchange rates for the CFA Franc in Central Africa, as issued by the Bank of Central African States. Full text...

  • Saturday's forex rates for the Mauritanian Ouguiya
    15 december 2018 10:56:18
    Nouakchott, Mauritania (PANA) - Following are Saturday's foreign exchange rates for the Mauritanian Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • Tourist arrivals in Mauritius up by 4.6% by November this year
    15 december 2018 09:07:37
    Port-Louis, Mauritius (PANA) - Tourist arrivals in Mauritius from January to November increased by 4.6% from 1,241,244 to 1,186,245 for the same period in 2017. Full text...

  • Saturday’s forex rates for the Gambian Dalasi
    15 december 2018 08:54:57
    Banjul, Gambia (PANA) – The following are Saturday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Minister explains the dearth of digital skills in Tunisia
    14 december 2018 15:13:19
    Tunis, Tunisia (PANA) - The strong demand worldwide for Tunisians with digital skills is one of the reasons the north African country lacks experts in that domain locally. Full text...

  • New Bank of Mauritania and BGFI-Bank sign partnership agreement
    14 december 2018 11:54:24
    Nouakchott, Mauritania (PANA) - BGFI-Bank Europe's Managing Director, Francesco de Musson, and the CEO of the New Bank of Mauritania (NBM), Abdel Baghy Ahmed Bouha, on Thursday in Nouakchott signed a partnership agreement. Full text...

  • Friday's forex rates for the CFA Franc in Central Africa
    14 december 2018 09:17:58
    Libreville, Gabon (PANA) – Following are Friday’s foreign exchange rates for the CFA Franc, as issued by the Bank of the Central African States. Full text...

  • Friday's forex rates for the Mauritian Rupee
    14 december 2018 07:55:10
    Port-Louis, Mauritius (PANA) - Following are Friday's foreign exchange rates for the Mauritian Rupee as issued by the Commercial Bank of Mauritius. Full text...

  • Friday’s forex rates for the Gambian Dalasi
    14 december 2018 07:53:59
    Banjul, Gambia (PANA) – The following are Friday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Gambian economist criticises 2019 budgetary allocations as 'unnecessary'
    13 december 2018 17:31:17
    Banjul, Gambia (PANA) - A Gambian economist and former senior official in the country's finance and economic affairs ministry has criticised the government budgetary allocations for 2019 saying a lot of funds would be spent in unproductive sectors. Full text...

  • Libya's oil field at al-Charara closed for third day running, losing US$32.5m daily
    13 december 2018 14:12:54
    Tripoli, Libya (PANA) - The oil field in al-Charara, one of the largest oil fields in Libya, with a production capacity of 310,000 barrels per day (b/d), remains closed for the third day in a row, following a protest from residents of the area, causing an estimated daily loss of US$ 32.5 million. Full text...

  • Tunisia's Air Traffic Controllers postpone warning strike to 22 December
    13 december 2018 13:09:52
    Tunis, Tunisia (PANA) - Tunisia's Air Traffic Controllers, originally scheduled to begin a two-day warning strike on Thursday, say they will now embark on the action on 22 December. Full text...

  • AU emphasises electronic commerce to boost regional trade in Africa
    13 december 2018 12:01:53
    Cairo, Egypt (PANA) - The African Union Commission has appealed to member states to consider including electronic commerce into the broader trade framework under the continental free trade area, which is being prepared for launch early next year. Full text...

  • Côte d'Ivoire adopts new national strategy on statistics development
    13 december 2018 11:55:04
    Abidjan, Côte d’Ivoire (PANA) – The Ivorian government on Wednesday adopted at the weekly council of ministers meeting a new national strategy on statistic development (SNDS) 2017-2021, whose objective is to build a strong and stable national statistics system (SSN), official sources told PANA on Thursday. Full text...

  • Thursday's forex rates for the Mauritanian Ouguiya
    13 december 2018 11:34:40
    Nouakchott, Mauritania (PANA) - Following are Thursday's foreign exchange rates for the Mauritanian Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • AU creates fund to cushion foreign investors from infrastructure project risks
    13 december 2018 08:57:59
    Cairo, Egypt (PANA) - The African Union has created an infrastructure project preparation facility to assist countries prepare mega-infrastructure projects and to cushion foreign investors from risks associated with costly projects, a senior AU official said on Wednesday. Full text...

  • Thursday's forex rates for the Mauritian Rupee
    13 december 2018 07:45:19
    Port-Louis, Mauritius (PANA) - Following are Thursday's foreign exchange rates for the Mauritian Rupee as issued by the Commercial Bank of Mauritius. Full text...

  • Thursday’s forex rates for the Gambian Dalasi
    13 december 2018 07:43:18
    Banjul, Gambia (PANA) – The following are Thursday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Ecobank signs partnership deal with MFS Africa for mobile payment services
    12 december 2018 18:32:14
    Abidjan, Côte d 'Ivoire (PANA) - Pan-African banking group, Ecobank Transnational Incorporated (ETI), announced on Wednesday it has signed a partnership agreement with pan-African Fintech, MFS Africa, to provide its clients with multi-platform mobile payment services. Full text...

  • Afrexim Bank commits US$25 billion to support continental free trade zone in Africa
    12 december 2018 16:30:53
    Cairo, Egypt (PANA) - Cairo-based African Export and Import Bank (Afreximbank) has pledged a US$25 billion support to intra-African trade through trade finance and a local currency payment platform to reduce currency losses, the Bank's chief said on Wednesday. Full text...

  • AU calls for freeze on bilateral free trade agreements ahead of mega free trade zone
    12 december 2018 15:47:36
    Cairo, Egypt (PANA) - The African Union Commissioner for Trade, Albert Muchanga, has cautioned countries currently involved in bilateral negotiations with foreign governments on the signing of free trade agreements ahead of the launch of the African Free Trade Area next year. Full text...

  • African ministers meet to discuss free trade guarantee fund
    12 december 2018 14:04:19
    Cairo, Egypt (PANA) - African Ministers of trade kicked off a meeting in the Egyptian capital of Cairo, Wednesday, to look into ways of compensating countries likely to suffer national revenue losses as a result of the implementation of the African Continental Free Trade Area (AfCFTA). Full text...

  • Wednesday's forex rates for the Mauritanian Ouguiya
    12 december 2018 11:30:03
    Nouakchott, Mauritania (PANA) - Following are Wednesday's foreign exchange rates for the Mauritanian Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • Wednesday's forex rates for the Mauritian Rupee
    12 december 2018 08:25:41
    Port-Louis, Mauritius (PANA) - Following are Wednesday's foreign exchange rates for the Mauritian Rupee as issued by the Commercial Bank of Mauritius. Full text...

  • Wednesday’s forex rates for the Gambian Dalasi
    12 december 2018 07:54:31
    Banjul, Gambia (PANA) – The following are Wednesday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • International fair of extractive industries opens in Nouakchott
    11 december 2018 18:43:24
    Nouakchott, Mauritania (PANA) - The 5th edition of the international fair on mining and oil exploitation ’Mauritanides' opened on Tuesday at the International Conference Center of Nouakchott in the presence of Mauritanian President Mohamed Ould Abdel Aziz and several government members. Full text...

  • Egypt shifting public funds from infrastructure to invest in people
    11 december 2018 16:48:45
    Cairo, Egypt (PANA) - Egypt has an opportunity to capitalize on current reforms by enabling more private investment in infrastructure and freeing up public funds for investments in people’s education, health and social protection, according to a new World Bank report launched on Tuesday in Cairo. Full text...

  • Africa's biggest trade exhibition event in Cairo aims to excite private mergers, acquisitions
    11 december 2018 15:06:34
    Cairo, Egypt (PANA) - Trade exhibitors from around Africa and the world convened in Cairo on Tuesday, for the launch of one of the African continent's biggest ever trade and economic exhibition, jointly organised by the African Union. Full text...

  • Tesla eyes first African operation
    11 december 2018 11:45:59
    Cape Town, South Africa (PANA) – South African-born billionaire Elon Musk has revealed that his electric car company could open its first store in Africa by the end of 2019. Full text...

  • Tuesday's forex rates for the Mauritanian Ouguiya
    11 december 2018 11:20:31
    Nouakchott, Mauritania (PANA) - Following are Tuesday's foreign exchange rates for the Mauritanian Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • Tuesday’s forex rates for the Gambian Dalasi
    11 december 2018 11:05:48
    Banjul, Gambia (PANA) – The following are Tuesday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

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