Economy -
  • President Buhari bemoans lingering fuel scarcity in Nigeria
    24 december 2017 15:06:33
    Lagos, Nigeria (PANA) - Nigeria’s President Muhammadu Buhari on Sunday said he regretted the lingering fuel scarcity currently being experienced across the country, saying he has directed relevant regulators to step up “surveillance and bring an end to hoarding and price inflation by marketers”. Full text...

  • Zimbabwe banks dispense US dollars as cash situation improves
    23 december 2017 19:14:40
    Harare, Zimbabwe (PANA) - Some banks in Harare, Zimbabwe’s capital, on Saturday dispensed a combination of United States dollars and bond notes to depositors for the end-of-year festive season, an indication that the cash situation in the southern Africa country has improved, observers said. Full text...

  • Saturday’s forex rates for the Gambian Dalasi
    23 december 2017 11:00:19
    Banjul, Gambia (PANA) – The following are Saturday’s foreign exchange rates for the Gambian Dalasi as published by Trust Bank Gambia Ltd: Full text...

  • New UN centre boosts use of real-time data to better respond to humanitarian crises
    22 december 2017 17:52:52
    The Hague, Netherlands (PANA) – With more than 135 million crisis-affected people across the globe in need of humanitarian assistance, the United Nations on Friday opened a data centre that will give aid organizations and relief workers access to vital information they need to make responsible and informed decisions. Full text...

  • ‘Exiting recession not enough factor for Nigeria’s recovery’ – IMF team
    22 december 2017 17:12:04
    Abuja, Nigeria (PANA) - Nigeria is exiting the recession but the economy remains vulnerable, a senior official of the International Monetary Fund (IMF) said in a statement issued on Friday. Full text...

  • IMF Executive Board approves US$ 101.1m disbursement to Gabon
    22 december 2017 16:12:37
    Libreville, Gabon (PANA) – A rebound in Gabon’s economic growth is expected in 2018 thanks to the recovery in oil prices, the strength of other commodity sectors, and improving private sector confidence, according to International Monetary Fund (IMF) Deputy Managing Director Tao Zhang. Full text...

  • Friday's forex rates for Mauritanian Ouguiya
    22 december 2017 13:54:20
    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 Rwandan Franc
    22 december 2017 13:52:28
    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
    22 december 2017 11:32:13
    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
    22 december 2017 06:53:09
    Accra, Ghana (PANA) - The following are Friday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • World Bank supports Togo to boost fiscal framework, energy, ICT services
    21 december 2017 17:53:46
    Washington, US (PANA) - The World Bank on Thursday approved a US$51.9 million (about FCFA30 billion) International Development Association (IDA) grant to boost Togo’s efforts to improve fiscal sustainability and promote economic growth. Full text...

  • IMF Board approves US$ 117.2m disbursement to Cameroon
    21 december 2017 17:01:58
    Yaoundé, Cameroon (PANA) – Fiscal and external adjustment in Cameroon and Central African Economic and Monetary Community (CEMAC) countries, combined with external financing, have led to a gradual buildup in CEMAC reserves, according to Mr. Mitsuhiro Furusawa, Deputy Managing Director of the International Monetary Fund (IMF). Full text...

  • AfDB to raise US$8 billion from capital markets in 2018
    21 december 2017 15:40:29
    Abidjan, Cote d'Ivoire (PANA) - The Board of Directors of the African Development Bank (AfDB) has approved the Bank’s 2018 borrowing programme for US$ 8 billion to be raised from capital markets. Full text...

  • Sustainable Energy Fund for Africa improves waste-to-energy electricity in Kenya with US$ 1 million grant
    21 december 2017 15:35:05
    Nairobi, Kenya (PANA) - The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB), has approved a grant of US$ 995,000 to Asticom Kenya Ltd., to support the construction of a 10 megawatt (MW) grid-connected municipal waste-to-energy (WTE) plant. Full text...

  • AfDB supports small businesses in East Africa with US$ 15 million
    21 december 2017 15:27:52
    Abidjan, Cote d'Ivoire (PANA) - The Board of Directors of the African Development Bank (AfDB) has approved an equity investment of US$15 million in Catalyst Fund II, a second-generation private equity fund investing in mid-market companies in East Africa. Full text...

  • Thursday’s forex rates for the Gambian Dalasi
    21 december 2017 13:48:45
    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 forex rates for Rwandan Franc
    21 december 2017 13:47:24
    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 exchange rates for Mauritanian Ouguiya
    21 december 2017 11:28:40
    Nouakchott, Mauritania (PANA) - Following are Thursday’s exchange rates for the Ouguiya, as issued by the Central Bank of Mauritania. Full text...

  • Kenya steps up use of clean energy
    21 december 2017 10:08:39
    Nairobi, Kenya (PANA) - Kenyan authorities are subsidising the price of 6kg LPG cylinder to encourage low income households to use clean energy, a top energy regulator has said. Full text...

  • Thursday's forex rates for the Mauritian Rupee
    21 december 2017 08:30:09
    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 exchange rates for Ghana cedi
    21 december 2017 06:46:00
    Accra, Ghana (PANA) - The following are Thursday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • AfDB, Mozambican gov't light up 80,000 households, businesses
    20 december 2017 14:33:31
    Maputo, Mozambique (PANA) - “The expansion of the Dondo substation will not just light up households and family units. It will also power the industrial growth of the Sofala and Manica provinces, creating more dynamic markets for agricultural commodities and ultimately contributing to job creation and the economic growth of the country,” the words of Filipe Nyusi, the Mozambican president, at the commissioning ceremony of the Electricity IV Project at Dondo District in Mozambique. Full text...

  • New Mozambican rail, port project opens new markets for farm produce, regional integration
    20 december 2017 14:22:17
    Maputo, Mozambique (PANA) - The African Development Bank (AfDB) is taking the lead in facilitating the takeoff of one of Africa’s largest infrastructure projects − the US$ 5 billion Nacala corridor rail and port project. Full text...

  • AfDB approves US$ 20m support to Evolution Fund II
    20 december 2017 14:00:56
    Abidjan, Cote d'Ivoire (PANA) - As part of its wider mandate under the New Deal on Energy for Africa, the Board of Directors of the African Development Bank (AfDB) has approved an investment of US$ 20 million in the Evolution II Fund − a Pan-African clean and sustainable energy private equity fund. Full text...

  • Wednesday's forex rates for the Mauritian Rupee
    20 december 2017 08:48:06
    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 exchange rates for Ghana cedi
    20 december 2017 06:32:42
    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...

  • CEMAC’s financial sector shows signs of persistent weaknesses - IMF
    19 december 2017 18:41:39
    Bangui, Central African Republic (PANA) – Due to the sharp decline in oil revenues since 2014 which continues to impair the Central African Economic and Monetary Community (CEMAC) member countries, regional economic growth has turned negative, with fiscal and external imbalances widening in the past two years, according to the International Monetary Fund (IMF). Full text...

  • Bharti Airtel acquires 'full control' of Tigo-Millicom in Rwanda
    19 december 2017 11:27:51
    Kigali, Rwanda (PANA) - One of Rwanda's telecommunications service providers, Bharti Airtel Rwanda, has acquired full control of its former competitor Tigo Rwanda, a subsidiary of Millicom International Cellular SA, according to an official statement made available on Tuesday to PANA in Kigali. Full text...

  • IMF says Senegal needs fiscal space for investment in infrastructure
    19 december 2017 09:22:06
    Dakar, Senegal (PANA) – Senegal’s growth is expected to exceed 6 percent in 2017 for the third year in a row, while inflation remains low, according to the Executive Board of the International Monetary Fund (IMF) which has just completed the fifth review of the country’s economic performance under a programme supported by the Policy Support Instrument (PSI). Full text...

  • Tuesday's forex rates for the Mauritian Rupee
    19 december 2017 08:35:41
    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...

  • Tuesday’s forex rates for the Gambian Dalasi
    19 december 2017 08:33:18
    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 Rwandan Franc
    19 december 2017 08:31:39
    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 exchange rates for Ghana cedi
    19 december 2017 07:27:48
    Accra, Ghana (PANA) - The following are Tuesday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • IMF chief urges low-income countries to harness trade, technology
    18 december 2017 18:35:57
    Djibouti, Djibouti (PANA) – Trade and technology are critical forces for all countries but especially more important for small states where they can play a major role in economic transformation, International Monetary Fund (IMF) Managing Director Christine Lagarde said here on Monday. Full text...

  • Economic transformation of Africa’s rural areas key to curtailing migration - AfDB
    18 december 2017 17:31:34
    Abidjan, Cote d'Ivoire (PANA) - On the occasion of the International Migrants Day, December 18, the African Development Bank (AfDB) has called on African countries to reconstruct rural areas from zones of economic misery to zones of economic prosperity. Full text...

  • Monday’s forex rates for the Gambian Dalasi
    18 december 2017 09:06:10
    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 exchange rates for Ghana cedi
    18 december 2017 06:49:56
    Accra, Ghana (PANA) - The following are Monday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Niger’s economic performance impresses IMF Board
    17 december 2017 10:04:28
    Niamey, Niger (PANA) - Despite security challenges and unfavorable commodity prices, Niger’s economic performance has been satisfactory against the backdrop of a good crop season, with real GDP growing by 5 percent in 2016 while inflation remained contained at 0.2 percent, according to the International Monetary Fund (IMF). Full text...

  • Saturday’s forex rates for Gambian Dalasi
    16 december 2017 08:56:10
    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...

  • IMF appreciates Togo’s ‘moderate economic growth’ in 2017
    15 december 2017 17:41:41
    Lome, Togo (PANA) - The Executive Board of the International Monetary Fund (IMF) on Friday announced a release of US$35.61 million to Togo under the Extended Credit Facility (ECF) arrangement saying it has completed the first review of the country’s performance under the ECF supported programme. Full text...

  • Morocco’s economy springs back after 2016 drought
    15 december 2017 17:08:46
    Rabat, Morocco (PANA) - After last year’s drought, Morocco’s economic growth has picked up in 2017 and is expected to reach 4.4 percent, mostly driven by a significant rebound in agricultural activity while non-agricultural activity remains subdued, according to the International Monetary Fund (IMF). Full text...

  • EU gives Benin 23 billion for reforms
    15 december 2017 14:42:56
    Cotonou, Benin (PANA) - The European Union (EU) has given Benin a 23.800 billion CFAF aid for the modernisation of the State and decentralisation, sources close to the EU told PANA on Friday in Cotonou. Full text...

  • Friday’s forex rates for the Gambian Dalasi
    15 december 2017 09:17:55
    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 the Mauritian Rupee
    15 december 2017 08:41:49
    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 exchange rates for Ghana cedi
    15 december 2017 06:19:53
    Accra, Ghana (PANA) - The following are Friday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • World Bank approves US$ 170m loan to boost livestock economy in Ethiopia
    14 december 2017 18:23:52
    Addis Ababa, Ethiopia (PANA) - The World Bank has approved an International Development Association (IDA) credit of US$170 million to boost the contribution of the livestock and fisheries sectors to Ethiopia’s economy, the Bank said on Thursday. Full text...

  • Mozambique faces challenging outlook as growth slows down
    14 december 2017 18:13:59
    Maputo, Mozambique (PANA) - Mozambique’s growth continues to slow down and the outlook remains challenging, requiring an urgent re-balancing of the policy mix to ensure durable macroeconomic stability and enhance inclusive growth prospects, an International Monetary Fund (IMF) mission observed on Thursday. Full text...

  • IMF says Tunisia’s economic vulnerabilities need urgent action
    14 december 2017 10:08:22
    Tunis, Tunisia (PANA) - Two opposing trends characterise the Tunisian economy at the end of this year, according to a senior official of the International Monetary Fund (IMF) who on Wednesday completed a mission on the second review of the country’s economic programme supported by the four-year IMF Extended Fund Facility (EFF). Full text...

  • IMF approves three-year policy coordination instrument for Seychelles
    14 december 2017 09:46:52
    Dar es Salaam, Tanzania (PANA) – Seychelles has not only become the first International Monetary Fund (IMF) member country to request a Policy Coordination Instrument (PCI) but also got it approved by the Fund’s Executive Board. Full text...

  • Thursday's forex rates for the Mauritanian Ouguiya
    14 december 2017 08:31:00
    Nouakchott, Mauritania (PANA) - Following are Thursday’s exchange rates for the Mauritanian Ouguiya, as issued by the Central Bank of Mauritania. Full text...

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