Economy -
  • AU extraordinary Summit initials African free trade area deal in Kigali
    21 march 2018 14:31:44
    Kigali, Rwanda (PANA) – Africa’s embarkation on free trade and free movement promises prosperity for all Africans, as the continent is now set to prioritise the production of value-added goods and services that are “Made in Africa”, Rwandan President Paul Kagame stated on Wednesday as African leaders converged on his country’s capital to initial the Agreement Establishing the African Continental Free Trade Area (AfCFTA). Full text...

  • Wednesday's forex rates for the Mauritanian Ouguiya
    21 march 2018 10:08:39
    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
    21 march 2018 08:46:39
    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...

  • IMF team finds Liberia’s economy set for recovery
    20 march 2018 20:03:33
    Monrovia, Liberia (PANA) - Liberia’s economy appears poised for recovery following a very difficult period, an International Monetary Fund (IMF) team said on Tuesday after discussions with the country’s administration for the 2018 Article IV Consultation. Full text...

  • African business forum told AfCFTA will boost production, job creation
    20 march 2018 18:23:16
    Kigali, Rwanda (PANA) - The African Continental Free Trade Area (AfCFTA) will help African businesses benefit from economies of scale, and create supply chains that will allow the continent to reduce its import bills, especially for industrial inputs, the Executive Secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, said here on Tuesday. Full text...

  • UNIDO, International Solar Alliance to work together on knowledge networks
    20 march 2018 15:16:18
    Kigali, Rwanda (PANA) - The United Nations Industrial Development Organization (UNIDO) has signed an agreement to work together with the International Solar Alliance (ISA) in a number of areas, including developing knowledge networks to raise awareness of the benefits of solar energy in member countries. Full text...

  • Opinion leaders see AfCFTA as game changer for Africa
    20 march 2018 08:35:09
    Kigali, Rwanda (PANA) – In their bold pursuit of continental integration, African Heads of State and Government will on Wednesday converge on the Rwandan capital, Kigali, to launch the regional Free Trade Area as a new strategy for acceleration of development of their nations through commerce. Full text...

  • AUC chief urges unity of action in creation of African free trade bloc
    19 march 2018 19:41:45
    Kigali, Rwanda (PANA) – Member countries of the African Union (AU) must prove their ability to act as a united bloc in defending the interests of their continent, AU Commission Chairperson Moussa Faki Mahamat told the organisation’s Executive Council meeting here on Monday to make final touches to the treaty establishing the African Continental Free Trade Area (AfCFTA). Full text...

  • Africa set for industrialization, opens market of 1.2 billion people
    19 march 2018 18:17:40
    Kigali, Rwanda (PANA) – African countries look forward to great opportunities to be created by the upcoming continental free trade area in advancing the political, social and economic development of Africa as an integrated unit, a senior official of the African Union (AU) said here on Monday. Full text...

  • Rwanda Innovation Fund project to receive US$ 30-million loan from AfDB
    19 march 2018 15:38:46
    Kigali, Rwanda (PANA) - The Board of the African Development Bank (AfDB) Group has approved a loan of US$ 30 million to support the establishment of Rwanda Innovation Fund (RIF). Full text...

  • Monday’s forex rates for the Gambian Dalasi
    19 march 2018 09:48:45
    Banjul, Gambia (PANA) – The following are Monday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Monday's forex rates for the Mauritian Rupee
    19 march 2018 08:58:44
    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...

  • Nigeria's president cancels Rwandan trip to attend CFTA summit
    18 march 2018 20:33:29
    Abuja, Nigeria (PANA) – Nigeria’s President Muhammadu Buhari will not be in Rwanda to sign the African Continental Free Trade Area (CFTA) agreement designed to promote commerce among African countries. Full text...

  • African Free Trade Area to ride new reform wave (News Analysis by Aimable Twahirwa, PANA Correspondent in Kigali, Rwanda)
    17 march 2018 17:55:44
    Kigali, Rwanda (PANA) - With current commitment of African Union (AU) member states in their ongoing negotiations to implement the first-ever African Continental Free Trade Area (AfCFTA), new market access opportunities for traders for goods and services should attract multiple types of investors across the continent, experts say. Full text...

  • IMF team finds mild economic recovery in Angola
    17 march 2018 11:05:24
    Luanda, Angola (PANA) – Implementation of structural reforms is critical to tackle impediments to economic diversification and growth in Angola, according to an International Monetary Fund (IMF) staff team that this week completed the 2018 Article IV Consultation Mission to the country’s capital, Luanda. Full text...

  • Out of recession Nigeria looks beyond oil
    17 march 2018 11:00:05
    Abuja, Nigeria (PANA) - Nigeria’s economy is exiting a painful recession, but policy implementation needs to move quickly and comprehensively to facilitate economic recovery and help the country reap its longer-term potential, says the International Monetary Fund (IMF) in its latest economic health check of sub-Saharan Africa’s largest economy. Full text...

  • AfDB undertakes High Power Sector mission in Nigeria
    17 march 2018 06:45:17
    Abuja, Nigeria (PANA) - At a meeting with several shareholders in Abuja, Nigeria, from March 14-16, 2018, the African Development Bank (AfDB) said it has undertaken a mission to hold further discussions on Nigeria’s Power Sector Recovery Program (PSRP). Full text...

  • Friday’s forex rates for the Gambian Dalasi
    16 march 2018 08:58:52
    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...

  • Friday's exchange rates for Ghana cedi
    16 march 2018 06:32:13
    Accra, Ghana (PANA) - The following are Friday's average interbank exchange rates for the Ghana cedi as announced by the Bank of Ghana. Full text...

  • Four countries on track to graduate from UN list of least developed countries
    15 march 2018 20:12:38
    New York, US (PANA) - Four countries could soon “graduate” from the ranks of the world’s poorest and most vulnerable nations, a United Nations expert committee announced on Thursday Full text...

  • Thursday's forex rates for Mauritanian Ouguiya
    15 march 2018 15:21:15
    Nouakchott, Mauritania (PANA) - Following are Thursday’s exchange rates for the Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • Thursday's forex rates for the Mauritian Rupee
    15 march 2018 10:48:00
    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 Rwandan Franc
    15 march 2018 09:43:53
    Kigali, Rwanda (PANA) - The following are Thursday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Thursday’s forex rates for the Gambian Dalasi
    15 march 2018 08:40:46
    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...

  • Nigeria set to sign African Free Trade Agreement despite opposition by labour groups
    14 march 2018 17:57:07
    Abuja, Nigeria (PANA) – President Muhammadu Buhari on Wednesday insisted on Nigeria signing the African Continental Free Trade Agreement (CFTA) saying it meant to promote commerce among African countries, despite opposition by labour groups led by the Nigeria Labour Congress (NLC). Full text...

  • Wednesday's forex rates for Rwandan Franc
    14 march 2018 14:46:12
    Kigali, Rwanda (PANA) - The following are Wednesday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Wednesday's forex rates for the Mauritanian Ouguiya
    14 march 2018 11:11:57
    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
    14 march 2018 08:17:31
    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...

  • IMF grants six-month extension allowing Kenya access to financial aid
    14 march 2018 07:01:56
    Nairobi, Kenya (PANA) - Kenya has committed to reduce its budget deficit and remove interest rate controls to qualify for the extension of an International Monetary Fund (IMF) loan facility for cash-strapped countries, according to a statement. Full text...

  • Sudanese hosts international forum on minerals
    13 march 2018 17:59:22
    Khartoum, Sudan (PANA) - Sudan has widespread deposits of uranium extending from its western Darfur region to the Red Sea coast in the east, a Sudanese geologist said here Tuesday. Full text...

  • AfDB's Economic Outlook shows decline in regional economies
    13 march 2018 14:45:21
    Abidjan, Cote d'Ivoire (PANA) - The African Development Bank (AfDB) has expanded its flagship publication, the African Economic Outlook, with five regional reports, indicating that the regional economic studies were released in Tunis (North Africa), Abidjan (West and Central Africa), Nairobi (Eastern Africa) and Pretoria (Southern Africa). Full text...

  • AfDB signs deal with Int'l Solar Alliance to propel solar development in Africa
    13 march 2018 14:19:06
    New Delhi, India (PANA) - In a major boost for its Light up and power Africa initiative, the African Development Bank (AfDB) has entered into partnership with the International Solar Alliance (ISA) to scale up solar energy in Africa. Full text...

  • Rwanda’s GDP per capita rises to US$ 774 in 2017
    13 march 2018 14:10:02
    Kigali, Rwanda (PANA) - Gross domestic product (GDP) per capita in Rwanda increased to about US$ 774 in 2017, up 6.1 percent year-on-year in real terms, the National Bureau of Statistics said in a report released on Tuesday in Kigali. Full text...

  • Tuesday's forex rates for Rwandan Franc
    13 march 2018 13:28:04
    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...

  • Tuesday's forex rates for Mauritanian Ouguiya
    13 march 2018 11:30:38
    Nouakchott, Mauritania (PANA) - Following are Tuesday’s foreign exchange rates for the Mauritanian Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • IMF cautions Algeria on its new economic revival strategy
    13 march 2018 09:43:18
    Algiers, Algeria (PANA) – After a two-week visit to Algiers to hold discussions for the 2018 Article IV consultation, an International Monetary Fund (IMF) staff team has painted a gloomy picture of the likely outcome of Algeria’s current strategy to reshape its economic growth model. Full text...

  • Tuesday’s forex rates for the Gambian Dalasi
    13 march 2018 08:12:43
    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...

  • Monday's forex rates for Rwandan Franc
    12 march 2018 12:08:53
    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 Gambian Dalasi
    12 march 2018 11:45:33
    Banjul, Gambia (PANA) – The following are Monday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Nigeria’s foreign reserves rise to $46bn
    12 march 2018 07:45:55
    Abuja, Nigeria (PANA) – Nigeria’s foreign reserves has hit $46bn, according to a tweet on Sunday by the Spokesman of the Central Bank of Nigeria (CBN), Mr. Isaac Okorafor. Full text...

  • Tanzania, UNIDO sign joint declaration on cooperation
    09 march 2018 16:52:09
    Dar es Salaam, Tanzania (PANA) - Tanzania’s efforts to propel industrial development forward, including through infrastructure development, are very commendable, the Director General of the United Nations Industrial Development Organization (UNIDO), Mr. LI Yong, said on Friday at the conclusion of a three-day official visit to the East African country. Full text...

  • Friday's forex rates for Mauritanian Ouguiya
    09 march 2018 13:26:50
    Nouakchott, Mauritania (PANA) - Following are Friday’s exchange rates for the Ouguiya, as issued by the central bank of Mauritania. Full text...

  • Friday’s forex rates for the Gambian Dalasi
    09 march 2018 11:48:50
    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...

  • Friday's forex rates for Rwandan Franc
    09 march 2018 09:38:52
    Kigali, 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 forex rates for the Mauritian Rupee
    09 march 2018 08:42:22
    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...

  • AfDB at the centre of "a great Africa moment" - North African Governors
    08 march 2018 16:01:59
    Abidjan, Cote d'Ivoire (PANA) - “This is no longer business as usual,” warned the African Development Bank (AfDB) President, Akinwumi Adesina, at the start of meetings with Finance Ministers from North African countries, held at the Bank’s headquarters in Abidjan, Coted'Ivoire. Full text...

  • "Africa's population explosion is a ticking time bomb" - AfDB Governors
    08 march 2018 15:48:21
    Abidjan, Cote d'Ivoire (PANA) - The African Development Bank (AfDB) and its East and North African Governors have stressed the need for urgent measures to match the continent’s growing population and youth unemployment, which they likened to a “ticking time bomb”. Full text...

  • Nairobi's JKIA receives Best Improved Airport Award
    08 march 2018 14:37:24
    Nairobi, Kenya (PANA) - The Airports Council International (ACI) has named Nairobi's Jomo Kenyatta International Airport (JKIA) the best improved airport in Africa, the Kenya Airports Authority (KAA) said Thursday. Full text...

  • Thursday's forex rates for Rwandan Franc
    08 march 2018 14:05:41
    Kigali, Rwanda (PANA) - The following are Thursday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Thursday's forex rates for Ouguiya
    08 march 2018 14:01:48
    Nouakchott, Mauritania (PANA) - Following are Thursday’s exchange rates for the Ouguiya, as issued by the central bank of Mauritania. Full text...

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