Economy -
  • First African Observatory to tackle the continent’s road safety crisis
    23 may 2018 18:39:42
    Leipzig, Germany (PANA) - The World Bank, the Fédération Internationale de l’Automobile (FIA), and the International Transport Forum (ITF) signed a Memorandum of Understanding (MoU) on Wednesday to establish the first regional Road Safety Observatory in Africa. Full text...

  • Rwanda signs air transport deals with Angola, Togo
    23 may 2018 17:25:52
    Kigali, Rwanda (PANA) - Rwanda and Angola on Wednesday signed an agreement allowing RwandAir Express to use the latter's all international airports while Angolan airline TAAG will use Kigali International Airport after a feasibility study is carried out next month. Full text...

  • "Sustainability, digitalization are key elements for a green tourism industry"
    23 may 2018 14:49:29
    Pointe-aux-Piments, Mauritius (PANA) – The Mauritian Prime Minister, Pravind Jugnauth, on Wednesday said that with the growing uncertainties prevailing on the global tourism market, it is imperative to develop effective strategies to address factors negatively impacting on the sustainable growth of the industry. Full text...

  • Wednesday's forex rates for Rwandan Franc
    23 may 2018 13:58:35
    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...

  • Donors pledge €1.45 billion for Gambia’s development
    23 may 2018 10:56:28
    Banjul, Gambia (PANA) – Donors meeting in Brussels have pledged 1.45 billion Euros towards financing Gambia’s three-year-development plan. Full text...

  • Exchange rates for Ghana cedi
    23 may 2018 10:13:05
    Accra, Ghana (PANA) - The following are Wednesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Qatar to build new port on Sudan’s Red Sea region
    23 may 2018 10:01:17
    Khartoum, Sudan (PANA) - Qatar is to build a port in Sudan on the Red Sea at the cost of US$4 billion, a Khartoum-based independent newspaper Aljareedah reported on Wednesday. Full text...

  • Wednesday’s forex rates for the Gambian Dalasi
    23 may 2018 09:10:16
    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...

  • WB President warns against obsolete technology investments in Africa
    23 may 2018 08:46:23
    Busan, South Korea (PANA) – The President of the World Bank Jim Yong Kim has warned African countries against investing in obsolete technology and in industries which were likely to be wiped out by technology and innovation and pay attention to longer-term investments in a digital economy. Full text...

  • Wednesday's forex rates for the Mauritian Rupee
    23 may 2018 08:32:12
    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...

  • Regional cooperation, structural reforms key to economic transformation - Emir Sanusi II
    23 may 2018 06:11:30
    Busan, South Korea (PANA) - Africa’s development agenda must focus on the socio-cultural and commercial interests of Africans and the upliftment of Africa’s trade and economic ecosystem, according to Sanusi Lamido Sanusi, the Emir of Kano and a former Governor of Nigeria’s Central Bank. Full text...

  • Accelerating Africa’s industrialization, drawing on the example of South Korea’s economic transformation (An AfDB feature)
    23 may 2018 06:00:52
    Busan, South Korea (PANA) - Every year since 1964, the African Development Bank (AfDB) Group brings together development experts and Africa’s Central Bank Governors, Finance and Economic Planning Ministers to discuss the continent’s economic fortunes. Full text...

  • AfDB, South Korea launch Korea-Africa Energy Investment Facility
    23 may 2018 05:42:16
    Busan, South Korea (PANA) - The Government of South Korea and the African Development Bank (AfDB) have signed a Letter of Intent to launch the Korea-Africa Energy Investment Facility (KEIF) to provide significant support to the New Deal on Energy for Africa. Full text...

  • Tuesday's forex rates for Rwandan Franc
    22 may 2018 16:09:12
    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...

  • ALSF co-organizes regional workshop on Negotiating Fishing Agreements, Concession
    22 may 2018 12:59:23
    Abidjan, Cote d'Ivoire (PANA) - Illegal, Unregulated, and Unreported (IUU) fishing represents US$ 1.2 billion loss in revenue for West African countries alone, some due to inadequate governance in the sector. Full text...

  • AfDB President screams "Africa must no longer be a museum of poverty”
    22 may 2018 12:58:22
    Busan, South Korea (PANA) - By 2050 about 580 million young Africans will enter the labour market, Akinwumi Adesina, President of the African Development Bank (AfDB), observed on Monday, noting that African people are tired of poverty. Full text...

  • South Korea’s rapid development is an inspiration to Africa, says AfDB President
    22 may 2018 12:55:09
    Busan, South Korea (PANA) - The rapid economic development in Korea is an inspiration and a model to African economies, said the African Development Bank (AfDB) President, Akinwumi Adesina. Full text...

  • High-level panel to highlight importance of disaster risk financing in building resilience
    22 may 2018 12:51:26
    Busan, South Korea (PANA) - A high-level panel session on the importance of disaster risk financing solutions in building resilience and protecting development gains will be held at the 2018 Annual Meetings of the African Development Bank taking place in Busan, South Korea. Full text...

  • AfDB Chief labels African Universities factories chunning out unemployed people
    22 may 2018 12:50:20
    Busan, South Korea (PANA) - "In its current form, the African university is a factory which manufactures unemployed people", regrets the President of the African Development Bank (AfDB), Akinwumi Adesina. Full text...

  • Kenya's private sector proposes setting up of SME-friendly bank
    22 may 2018 12:47:34
    Nairobi, Kenya (PANA) - The Kenyan Private Sector Alliance (KEPSA) has proposed the immediate establishment of Biashara Bank which will benefit SMEs by increasing access to affordable credit and capacity building. Full text...

  • IMF underscores macroeconomic stabilization, inclusive growth in Angola
    22 may 2018 09:46:26
    Luanda, Angola (PANA) – As Angola’s government under President João Lourenço focuses attention on improving governance and restoring macroeconomic stability, the International Monetary Fund (IMF) has underscored the need for additional but gradual fiscal consolidation to put public debt on a clear downward path. Full text...

  • AfDB, UNIDO sign MOU to accelerate Africa’s industrialisation
    22 may 2018 09:00:00
    Busan, Korea (PANA) - The African Development Bank (AfDB) and the United Nations Industrial Development Organization (UNIDO) signed a Memorandum of Understanding (MoU) on Monday, to step up collaboration to boost Africa’s industrialisation. Full text...

  • Small Islands Developing States discuss sustainable tourism
    22 may 2018 08:41:08
    Balaclava, Mauritius (PANA) – Mauritian Minister of Ocean Economy, Marine Resources, Fisheries and Shipping Premdut Koonjoo has said that tourism has become a vibrant industry and is the first pillar of the economy in Mauritius, contributing around 10% to GDP and sustaining more than 100,000 jobs. Full text...

  • Tuesday’s forex rates for the Gambian Dalasi
    22 may 2018 08:31:25
    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...

  • Tuesday's forex rates for the Mauritian Rupee
    22 may 2018 08:30:08
    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...

  • AfDB lays foundation for ‘climate smart’ industrialisation in Africa
    22 may 2018 05:29:37
    Busan, South Korea (PANA) - The African Development Bank (AfDB) Annual Meetings taking place in Busan, South Korea from 21-25 May, is laying emphasis on the need for a fast industrialising African continent, which pays attention to the reduction of harmful carbon emissions causing heart and lung diseases. Full text...

  • Int'l conference on digitalization, sustainable tourism opens Wednesday in Mauritius
    21 may 2018 15:25:58
    Balaclava, Mauritius (PANA) – An International conference on digitalisation and sustainable tourism opens Wednesday in Mauritius with a unique opportunity for networking and for paving the way for a more profitable tourism industry across countries, PANA reported from here. Full text...

  • Nigeria's economy grew by 1.95 per cent in first quarter of 2018
    21 may 2018 13:56:50
    Abuja, Nigeria (PANA) – The Nigerian National Bureau of Statistics (NBS) on Monday said that the Nigerian economy registered a marginal decline by about -0.16 per cent from last quarter of 2017, though it maintained a strong growth trend in the first quarter of 2018. Full text...

  • Monday's forex rates for Rwandan Franc
    21 may 2018 11:33:37
    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
    21 may 2018 08:55:58
    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...

  • AfDB unveils broader vision for industrialising Africa
    21 may 2018 04:24:25
    Busan, Korea (PANA) - The African Development Bank (AfDB) President Akinwumi Adesina on Monday emphasised the Bank’s vision for industrialisation of Africa through a raft of measures aiming to nearly triple the continent’s overall industrial wealth and powering growth in energy, infrastructure and agriculture. Full text...

  • Kenya to begin oil production
    19 may 2018 12:21:11
    Nairobi, Kenya (PANA) — President Uhuru Kenyatta has announced the production of oil from the Turkana oilfields will start after an agreement was reached on Saturday on the sharing of revenue, according to the President's office. Full text...

  • Saturday’s forex rates for the Gambian Dalasi
    19 may 2018 10:17:35
    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...

  • Cameroon struggles to maintain public debt sustainability
    19 may 2018 08:32:45
    Yaoundé , Cameroon (PANA) – Cameroon’s overall economic growth decelerated to 3.2 percent in 2017 due to a steep decline in oil production despite the gradual rebound in international prices, according to a team of the International Monetary Fund (IMF) that visited the country this week. Full text...

  • UN, World Bank ink pact to spur cooperation on Global Goals
    19 may 2018 04:14:39
    Washington, DC, US (PANA) - The United Nations and the World Bank Group on Friday signed an agreement to work closer together to help countries implement the 2030 Agenda for Sustainable Development and achieve measurable results to transform their economies and societies. Full text...

  • Rwanda's biggest commercial bank to trade shares on Nairobi Securities Exchange
    18 may 2018 13:37:33
    Kigali, Rwanda (PANA) - The Bank of Kigali, one of the biggest commercial banks in terms of assets in Rwanda, on Friday announced it will soon list on Nairobi Securities Exchange (NSE), the leading securities exchange in East Africa. Full text...

  • AfDB gives Mali 8 million-euro loan to support trade
    18 may 2018 13:22:46
    Abidjan, Côte d'Ivoire (PANA) - There is good news for trade in Mali, especially for small- and medium-sized enterprises (SMEs) as the Board of Directors of the African Development Bank (AfDB) on Wednesday approved a credit line of 8 million-euro loan to the Sahelo-Saharan Bank for investment and trade in Mali (BSIC-Mali). Full text...

  • Mauritius, Madagascar set up Joint Commission to expand cooperation
    18 may 2018 12:10:32
    Port-Louis, Mauritius (PANA) - Mauritius and Madagascar have embarked on a new path of bilateral cooperation and expanding the existing collaboration with the establishment of a Joint Permanent Commission. Full text...

  • Friday's forex rates for Rwandan Franc
    18 may 2018 11:08:37
    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 Gambian Dalasi
    18 may 2018 10:43:29
    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...

  • Mauritius launches 'Home Solar' project to alleviate poverty
    18 may 2018 09:07:57
    Port-Louis, Mauritius (PANA) – Mauritius has launched a Home Solar project that aims at installing solar photovoltaic systems on rooftops of 10,000 poor households as part of the Government’s efforts to alleviate poverty whilst contributing to the national target of achieving 35% of renewable electricity in the energy mix by 2025. Full text...

  • Economic growth ‘exceeds expectations’ but trade tensions are rising: UN
    18 may 2018 04:38:54
    New York, US (PANA) - Global economic growth is exceeding expectations this year but heightened geopolitical tension and uncertainty over international trade could thwart progress, according to a new United Nations report released on Thursday. Full text...

  • Middle class in China, India set to impact on gold demand
    17 may 2018 17:08:23
    Dar es Salaam, Tanzania (PANA) – The expanding middle class in China and India, combined with broader economic growth, will have a significant impact on gold demand, according to the latest analysis on how the gold market is set to evolve in the next 30 years. Full text...

  • Thursday's forex rates for Rwandan Franc
    17 may 2018 15:26:05
    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 Gambian Dalasi
    17 may 2018 13:27:01
    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...

  • Thursday's exchange rates for Mauritanian Ouguiya
    17 may 2018 11:21:47
    Nouakchott, Mauritania (PANA) - Following are Thursday’s exchange rates for the Ouguiya, as issued by the central bank of Mauritania. Full text...

  • Thursday's exchange rates for the Mauritian Rupee
    17 may 2018 11:10:17
    Port-Louis, Mauritius (PANA) - Following are Thursday’s exchange rates for the Rupee, as issued by the Commercial Bank of Mauritius. Full text...

  • About 2.5 billion more people will be living in cities by 2050 - UN report
    16 may 2018 21:57:03
    New York, US (PANA) - By 2050, two out of every three people are likely to be living in cities or other urban centres, according to a new United Nations report, highlighting the need for more sustainable urban planning and public services. Full text...

  • AfDB blames lack of industries for Africa's low rating on global development
    16 may 2018 15:25:48
    Nairobi, Kenya (PANA) - Africa’s lack of industries is largely responsible for its low standing in global development, the African Development Bank (AfDB) said Wednesday. Full text...

  • American Tower Corporation, Telkom Kenya seal tower deal
    16 may 2018 14:16:32
    Nairobi, Kenya (PANA) - Telecom provider, Telkom Kenya, together with the American Tower Corporation (ATC), have announced the signing of an agreement that will see ATC obtain 723 towers from Telkom Kenya. Full text...

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