Economy -
  • Wednesday’s forex rates for the Gambian Dalasi
    28 march 2018 08:12:52
    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...

  • Wednesday's exchange rates for Ghana cedi
    28 march 2018 06:46:10
    Accra, Ghana (PANA) - The following are Wednesday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Korean city of Busan to host annual meetings of the Board of Governors of the AfDB Group
    27 march 2018 13:42:32
    Abidjan, Cote d'Ivoire (PANA) - The 53rd Annual Meeting of the Board of Governors of the African Development Bank (AfDB) and the 44th Meeting of the Board of Governors of the African Development Fund, the concessional arm of the Bank Group, will take place from May 21-25, 2018, in Busan, South Korea. Full text...

  • Africa must build digital infrastructure to compete in 4th Industrial Revolution, says AfDB's Adesina
    27 march 2018 13:24:31
    Abidjan, Côte d’Ivoire (PANA) - To compete at the accelerated pace of technological innovations and the 4th Industrial Revolution, Africa has to put in more money into training its people and equipping them with the skills they need for the jobs of the future, Akinwumi Adesina, the President of the African Development Bank (AfDB), has said, urging African countries to rethink the way they do manufacturing. Full text...

  • Côte d'Ivoire, Ghana sign deal on cacao economy management
    27 march 2018 13:04:40
    Abidjan, Côte d'Ivoire (PANA) - The Ivorian president, Alassane Ouattara, and his Ghanaian counterpart, Nana Addo Dankwa Akufo-Addo, on Monday in Abidjan signed a deal on the implementation of a common strategy on the management and challenges of the cacao industry. Full text...

  • Tuesday's forex rates for Mauritanian Ouguiya
    27 march 2018 11:35:59
    Nouakchott, Mauritania (PANA) - Following are Tuesday’s foreign exchange rates for the Ouguiya, as issued by the central bank of Mauritania. Full text...

  • Tuesday's forex rates for Mauritian Rupee
    27 march 2018 11:05:24
    Port-Louis, Mauritius (PANA) - Following are Tuesday’s exchange rates for the Mauritian Rupee, as issued by the Commercial Bank of Mauritius. Full text...

  • Tunisia grapples with high unemployment, rising debt, flaring inflation
    27 march 2018 08:16:47
    Tunis, Tunisia (PANA) – Despite a modest recovery Tunisia experienced in 2017, the North African country continues to face elevated macroeconomic vulnerabilities, and unemployment remains high, while debt has continued to increase, inflation has accelerated, and international reserve cover is now less than three months of imports, according to the International Monetary Fund (IMF).. Full text...

  • IMF Africa director lauds Senegal’s economic progress
    26 march 2018 19:39:56
    Dakar, Senegal (PANA) – Senegal has made impressive progress implementing its comprehensive Plan Senegal Emergent (PSE) in recent years, engendering high economic growth, poverty reduction, and improvements in standards of living, International Monetary Fund (IMF) Africa Director Abebe Aemro Selassie said here on Monday. Full text...

  • Monday’s forex rates for the Gambian Dalasi
    26 march 2018 09:19:28
    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...

  • IMF calls for international support to ease The Gambia’s external debt distress
    24 march 2018 10:42:59
    Banjul, Gambia (PANA) – The International Monetary Fund (IMF) has welcomed the ongoing work to develop a medium term economic and fiscal framework together with a debt management strategy to help anchor fiscal policy in The Gambia. Full text...

  • Global ratings agency throws South Africa a lifeline
    24 march 2018 07:58:14
    Cape Town, South Africa (PANA) – Global ratings agency Moody's has thrown South Africa a lifeline by keeping its sovereign debt at above investment grade and changing its outlook to stable. Full text...

  • AfDB pledges full support for Continental Free Trade Area
    24 march 2018 07:52:09
    Kigali, Rwanda (PANA) - While the African Development Bank (AfDB) celebrates with Africa, it has also pledged full support to achieve the success of the recently-launched Continental Free Trade Area, as part of its strategy to help integrate Africa. Full text...

  • AfDB hosts breakfast session on Africa Investment Forum in Abidjan
    24 march 2018 07:41:46
    Abidjan, Côte d'Ivoire (PANA) - On the sidelines of the 2018 Africa CEO Forum, which will take place in Abidjan, Côte d’Ivoire, the African Development Bank (AfDB) will host a special breakfast session on the Africa Investment Forum (AIF) – an initiative championed by the Bank to actively engage the private sector and to facilitate projects that have the capacity of transforming the continent. Full text...

  • Rwanda’s economic growth outpaces expectations – IMF team
    24 march 2018 07:35:48
    Kigali, Rwanda (PANA) – Rwanda’s economy is not just rebounding but its growth in 2017 outpaced expectations, rising 6.1 percent, due to a broad-based pick-up in activity in the second half of the year, according to an International Monetary Fund (IMF) staff team that on Friday concluded a ten-day mission to the country’s capital, Kigali. Full text...

  • Friday's exchange rates of Mauritanian Ouguiya
    23 march 2018 13:24:31
    Nouakchott, Mauritania (PANA) - Following are Friday’s exchange rates of the Ouguiya as issued by Central Bank of Mauritania. Full text...

  • Friday's forex rates of Mauritian Rupee
    23 march 2018 13:18:09
    Port Louis, Mauritius (PANA) - The following are Friday’s exchange rates of the Mauritian Rupee, as issued by Commercial Bank of Mauritius. Full text...

  • Friday's forex rates for Rwandan Franc
    23 march 2018 10:22:36
    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...

  • Guterres says UN ready to support African free trade agreement
    22 march 2018 20:28:29
    New York, US (PANA) - United Nations Secretary-General António Guterres has welcomed the singing of a continental free trade agreement for Africa that has created one of the world’s largest trading blocs with over 50 countries. Full text...

  • IMF directors welcome growth in LIDCs, express concern over rising debt distress
    22 march 2018 19:20:14
    Dar es Salaam, Tanzania (PANA) - Against the background of a climbing number of low-income developing countries (LIDCs) at high risk or in debt distress, the International Monetary Fund (IMF) Executive Board has assessed economic prospects and policy challenges facing these countries. Full text...

  • Nigeria, Niger, Benin, Burkina Faso sign deal on power interconnection project
    22 march 2018 18:28:45
    Niamey, Niger (PANA) - Financing agreements for the Nigeria-Niger-Benin-Burkina Faso multinational electricity interconnection project were signed on Thursday in Niamey by the Nigerien Minister of Planning, Mrs Kane Aïchatou Boulama, and the Resident Representative of the African Development Bank (AfDB), Nouredine Kane. Full text...

  • IMF mission announces release of US$ 24 million to Mauritania
    22 march 2018 12:59:31
    Nouakchott, Mauritania (PANA) - The Mauritanian authorities and the International Monetary Funds (IMF) have agreed on the anticipated conclusion of the first review of the programme supported by the extended credit facility (ECF) that will result in the release of US$ 24 million, according to the mission that stayed in Nouakchott from 8-21 March, 2018. Full text...

  • Thursday's exchange rates for Mauritanian Ouguiya
    22 march 2018 12:03:00
    Nouakchott, Mauritania (PANA) - Following are Thursday’s exchange rates for the Mauritanian Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • Thursday's exchange rates for Mauritian Rupee
    22 march 2018 11:37:13
    Port-Louis, Mauritius (PANA) - Following are Thursday’s exchange rates for the Rupee, as issued by the commercial bank of Mauritius. Full text...

  • Thursday's forex rates for Rwandan Franc
    22 march 2018 08:51:07
    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...

  • UK provides additional financing to Zimbabwe Reconstruction Fund
    21 march 2018 18:32:05
    Harare, Zimbabwe (PANA) - The UK’s Department for International Development (DFID) on Wednesday gave the Zimbabwe Reconstruction Fund (ZIMREF) an additional £3 million (US$4.2 million) to help strengthen the country’s policy frameworks and delivery systems. Full text...

  • 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...

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