Economy -
  • CAR leaders set for better governance, business environment
    15 september 2018 11:35:14
    Bangui, Central African Republic (PANA) - The authorities in Central African Republic (CAR) have agreed on the need to accelerate the efforts to strengthen governance and transparency and sustain structural reforms aimed at improving the business environment, according to a statement released on Saturday by the Communications Department of the International Monetary Fund (IMF). Full text...

  • Saturday’s forex rates for the Gambian Dalasi
    15 september 2018 08:43:19
    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...

  • South African Airways cancels flights to Hong Kong
    15 september 2018 06:12:56
    Cape Town, South Africa (PANA) – South African Airways has cancelled flights between Johannesburg and Hong Kong as a result of the severe weather conditions caused by Super Typhoon Manghkut. Full text...

  • ‘Shadow’ of persistent inequality is growing, key UN human development report reveals
    15 september 2018 05:59:56
    New York, US (PANA) - While health, education, and income levels have improved overall across the globe, “wide inequalities” both among and within countries, are casting a shadow on sustained human development, a new United Nations report shows. Full text...

  • Kenya declares 50% fuel tax cut
    14 september 2018 13:22:30
    Nairobi, Kenya (PANA) - Kenyan President Uhuru Kenyatta announced a 50% cut in a controversial petroleum tax, which the government was implementing even though Parliament had passed a bill seeking to defer implementation for two years. Full text...

  • Friday's forex rates for Rwandan Franc
    14 september 2018 11:27:10
    Rwanda (PANA) - The following are Friday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Friday's exchange rates for Ghana cedi
    14 september 2018 09:48:57
    Accra, Ghana (PANA) - The following are Friday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Friday's exchange rates for Mauritanian ouguiya
    14 september 2018 09:43:06
    Nouakchott, Mauritania (PANA) - The following are Friday's exchange rates for the Mauritanian ouguiya as announced by the Central Bank of Mauritania. Full text...

  • Tourist arrivals up 7% in Morocco in seven months
    14 september 2018 06:53:53
    Rabat, Morocco (PANA) - A total of 7 million tourists visited Morocco in the first seven months of 2018, up 7%, according to the Moroccan Tourism Observatory. Full text...

  • WB says Somalia outpaces mobile money markets in Africa
    13 september 2018 17:34:21
    Nairobi, Kenya (PANA) - Somalia’s economy is projected to grow at an annual rate of 3–4 percent, according to the third Somalia Economic Update (SEU) published on Thursday by the World Bank. Full text...

  • IMF seeks ways to stop debt vulnerabilities in low-income countries
    13 september 2018 17:14:02
    Dar es Salaam, Tanzania (PANA) - Maintaining a moderate level of borrowing is essential to lift incomes and living standards in low-income countries, the International Monetary Fund (IMF)’s chief said on Thursday urging creation of better prospects for the world’s poorest nations. Full text...

  • AfDB President, Adesina, to embark on 4-day working visit to Canada
    13 september 2018 15:38:09
    Abidjan, Cote d'Ivoire (PANA) - The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, will lead a delegation to Canada from 17-20 September, along with David Stevenson, Executive Directors at the Bank representing Canada, China, Republic of Korea, Turkey and Kuwait. Full text...

  • South-South Cooperation Day focuses in on sustainable development
    13 september 2018 06:17:32
    New York, US (PANA) - As part of the 40th anniversary of the International Day for South-South Cooperation, the United Nations drew together on Wednesday, more than 100 best-practices developed in the countries of the Global South, which embody the 17 Sustainable Development Goals (SDGs) and 2030 Agenda for Sustainable Development. Full text...

  • World Bank review reveals unchanged quality of policies, institutional performance in Africa
    12 september 2018 19:54:58
    Washington, US (PANA) - The average quality of policies and institutions in Sub-Saharan Africa was broadly unchanged in 2017, according to the latest review by the World Bank, which affirmed this is a shift from the deterioration observed in the previous year. Full text...

  • Wednesday's exchange rates for Mauritanian Ouguiya
    12 september 2018 11:50:03
    Nouakchott, Mauritania (PANA) - The following are Wednesday's exchange rates for the Mauritanian Ouguiya as announced by the Central Bank of Mauritania. Full text...

  • Wednesday's exchange rates for the Ghana cedi
    12 september 2018 10:33:20
    Accra, Ghana (PANA) - The following are Wednesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Wednesday's exchange rates for Mauritian Rupee
    12 september 2018 10:24:49
    Port-Louis, Mauritius (PANA) - The following are Wednesday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • World Bank Group set to boost private sector investment in East Africa
    11 september 2018 17:04:05
    Kigali, Rwanda (PANA) - The World Bank Group on Tuesday launched the Development Finance Forum in Kigali, Rwanda, for global public and private sector leaders to explore and demonstrate strategies to boost private sector investment in East Africa’s priority sectors, notably, housing, agriculture and tourism. Full text...

  • AfDB sets Sept. 14 deadline for applications to next African Global IT Leaders Program
    11 september 2018 14:01:59
    Abidjan, Cote d'Ivoire (PANA) - The African Development Institute of the African Development Bank (AfDB) has announced the implementation of the Next African Global IT Leaders' Program, under the aegis of the Korea-Africa Economic Cooperation (KOAFEC) Knowledge Sharing Program (KSP). Full text...

  • Tuesday's exchange rates for the Ghana cedi
    11 september 2018 10:47:56
    Accra, Ghana (PANA) - The following are Tuesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Tuesday's exchange rates for Mauritian Rupee
    11 september 2018 10:41:33
    Port-Louis, Mauritius (PANA) - The following are Tuesday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Pervasive corruption costs $2.6 trillion, says UN chief
    11 september 2018 05:36:39
    New York, US (PANA) - Corruption is present in all countries, “rich and poor, North and South, developed and developing”. United Nations Secretary-General António Guterres told the Security Council on Monday, at a session on tackling corruption for the sake of peace and international security. Full text...

  • Monday's exchange rates for the Ghana cedi
    10 september 2018 10:36:41
    Accra, Ghana (PANA) - The following are Monday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Monday's exchange rates for Mauritian Rupee
    10 september 2018 10:30:42
    Port-Louis, Mauritius (PANA) - The following are Monday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • AfDB organizes workshop on sustainable industrialization of the timber sector in Congo Basin countries
    08 september 2018 12:17:54
    Libreville, Gabon (PANA) - The African Development Bank (AfDB) Group, through its Regional Office for Development and Service Delivery for Central Africa (DRGC), is to organize a workshop on the restitution of the regional study on the sustainable industrialization of Africa. Wood sector in the countries of the Congo Basin. Full text...

  • Universal Postal Union meets to define its 21st Century role
    08 september 2018 05:07:48
    Addis Ababa, Ethiopia (PANA) - The Universal Postal Union (UPU), one of the world’s oldest international organizations, has met in the Ethiopian capital Addis Ababa to improve its working practices and define its role in the modern world. Full text...

  • IMF says Botswana has truly benefited from its mineral wealth
    07 september 2018 14:19:02
    Gaborone, Botswana (PANA) - Revenues from diamond mines in Botswana, combined with sound economic policies, have helped build infrastructure and kept the economy stable, the International Monetary Fund (IMF) said Friday, affirming that the southern Africa country is one of the few in sub-Saharan Africa that has truly benefited from its mineral wealth. Full text...

  • AfDB approves US$15 million Equity Investment to boost SME growth in West Africa
    07 september 2018 13:03:03
    Abidjan, Cote d'Ivoire (PANA) - The Board of Directors of the African Development Bank (AfDB) has approved a US$ 15 million equity investment in Verod Capital Growth Fund III, a private equity fund that will make investments in high growth middle market companies in Anglophone West Africa, including Nigeria, Ghana, Liberia, Sierra Leone and the Gambia. Full text...

  • AfDB's IDEV opens development evaluation week in Abidjan
    07 september 2018 12:55:05
    Abidjan, Cote d'Ivoire (PANA) - AfDB's Independent Development Evaluation (IDEV) opened its biennial Development Evaluation Week on Thursday in Abidjan, Côte d’Ivoire, attended by more than 400 government policy- and decision-makers, representatives from development partners, research and academic institutions, evaluation associations and the civil society. Full text...

  • Friday's exchange rates for Mauritian Rupee
    07 september 2018 11:29:21
    Port-Louis, Mauritius (PANA) - The following are Friday's exchange rates for the Mauritian Rupee as announced by the Mauritian Commercial Bank. Full text...

  • AfDB to support economic diversification, stronger public policies in Equatorial Guinea
    06 september 2018 15:02:30
    Abidjan, Cote d'Ivoire (PANA) - The African Development Bank (AfDB) group has committed to support Equatorial Guinea’s economic diversification into agro-industry and a program of capacity building to foster public policies. Full text...

  • “Africa is the place to be,” AfDB President tells Chinese business leaders
    06 september 2018 14:55:03
    Beijing, China (PANA) - The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has urged Chinese business leaders to attend the Africa Investment Forum, scheduled to take place in Johannesburg, South Africa, from 7-9 November, 2018. Full text...

  • Thursday's exchange rates for Ghana cedi
    06 september 2018 09:22:35
    Accra, Ghana (PANA) - The following are Thursday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Thursday's exchange rates for Mauritian Rupee
    06 september 2018 09:17:02
    Port-Louis, Mauritius (PANA) - The following are Thursday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • IMF suggests public sector reform to enhance growth in Botswana
    06 september 2018 07:32:10
    Gaborone, Botswana (PANA) – International Monetary Fund (IMF) Directors have underscored the importance of adjusting Botswana’s development model to boost growth potential, lower unemployment, and promote diversification in the southern Africa country. Full text...

  • Lesotho gripped in economic shock from declining revenues of SACU
    06 september 2018 06:40:09
    Maseru, Lesotho (PANA) – Lesotho authorities must focus efforts on addressing the public sector wage bill, which is one of the largest in the world compared to the size of the economy, an International Monetary Fund (IMF) mission has recommended at the end of a two-week visit to the country’s capital, Maseru, to discuss the authorities’ economic and financial programme and possible financial support by the Fund. Full text...

  • World Bank VP in Algeria to strengthen partnership in inclusive growth, job creation
    05 september 2018 18:02:29
    Washington, US PANA) - World Bank Vice President for the Middle East and North Africa, Ferid Belhaj is in on a two-day visit to Algeria from Wednesday to reaffirm the Bank’s support for the national goals of transforming the economy and unlocking the potential of the country’s large youth population, the Bank said. Full text...

  • Wednesday's exchange rates for Ghana cedi
    05 september 2018 09:48:02
    Accra, Ghana (PANA) - The following are Wednesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Wednesday's exchange rates for Ghana cedi
    05 september 2018 09:40:32
    Port-Louis, Mauritius (PANA) - The following are Wednesday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Disgraced former South African CEO grilled in Parliament
    05 september 2018 09:32:42
    Johannesburg, South Africa (PANA) – Nine months after the biggest corporate scandal in South African history saw the global Steinhoff International group face collapse, its disgraced former CEO appeared in Parliament on Wednesday. Full text...

  • Tanzania solicits China’s cooperation to improve its agro-processing industries
    04 september 2018 17:13:57
    Beijing, China (PANA) – Underlining the importance of improved technologies in the development of Tanzania’s agricultural sector, Prime Minister Kassim Majaliwa has invited potential Chinese investors to focus on agro-processing industries in order to increase the value and find global markets for the country's farm products. Full text...

  • High-Level Consultation on the AfDB's 2018-2022 Country Strategy Paper for Côte d'Ivoire
    04 september 2018 15:22:50
    Abidjan, Cote d'Ivoire (PANA) - "We salute the African Development Bank (AfDB), a major player that assists our country and whose multifaceted support contributes to the fight against poverty and the transformation of our economy," said Nialé Kaba, the Ivorian Minister of Planning and Development of Africa, Monday, on Monday in Abidjan,during the high-level consultation on the Bank's new Country Strategy Paper (CSP) in Côte d'Ivoire for the period 2018-2022. Full text...

  • Tuesday's exchange rates for Ghana cedi
    04 september 2018 11:35:56
    Accra, Ghana (PANA) - The following are Tuesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Tuesday's exchange rates for the Mauritanian Ouguiya
    04 september 2018 11:14:23
    Nouakchott, Mauritania (PANA) - The following are Tuesday's exchange rated for the Mauritanian Ouguiya as announced by the Central Bank of Mauritania. Full text...

  • South Africa enters technical recession
    04 september 2018 11:02:27
    Johannesburg, South Africa (PANA) – South Africa has officially entered a technical recession. This after Stats SA on Tuesday announced that the country's real gross domestic product had decreased by 0.7% in the second quarter of the year. A GDP contraction of 2.2% in the first quarter resulted in two consecutive quarters of negative growth. Full text...

  • Tuesday's exchange rates for Mauritian Rupee
    04 september 2018 08:02:04
    Port-Louis, Mauritius (PANA) - The following are Tuesday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Morocco's Net International Reserves up 5.1%
    04 september 2018 07:42:29
    Rabat, Morocco (PANA) - Morocco's net international reserves as at 24 August amounted to 226.2 billion dirhams (US$24.3 billion), up 5.1% year-on-year, Morocco's Central Bank has said in a statement published on Tuesday. Full text...

  • UN chief urges China, Africa for a win-win collaboration for ‘the future we want’
    03 september 2018 19:59:30
    Beijing, China (PANA) - Highlighting the economic and development progress made in China and Africa, United Nations Secretary-General António Guterres has urged them to unite their combined potential for peaceful, sustainable and equitable progress to the benefit of all humankind. Full text...

  • Monday's exchange rates for Ghana cedi
    03 september 2018 10:19:27
    Accra, Ghana (PANA) - The following are Monday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Monday's forex rates for Mauritian Rupee
    03 september 2018 10:12:40
    Port-Louis, Mauritius (PANA) - The following are Monday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

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