Economy -
  • Monday's exchange rates for Ghana cedi
    27 august 2018 09:52:38
    Accra, Ghana (PANA) - The following are Monday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Namibia opens two solar plants to diversify its energy mix
    24 august 2018 16:39:18
    Windhoek, Namibia (PANA) – Namibia has opened two solar plants, Ejuva One and Ejuva Two, built at a total cost of US$21 million in Gobabis, capital of the eastern Omaheke Region. Full text...

  • ‘Gold price may bounce back amid currency depreciation’ – World Gold Council
    24 august 2018 09:35:40
    Dar es Salaam, Tanzania (PANA) - The gold price has fallen to a 20-month low amid sharp emerging-market currency depreciation, South Africa’s Mining Weekly reported on Friday quoting the World Gold Council (WGC). Full text...

  • Textile, Clothing industries can drive Africa’s industrialization, benefit women (By Vanessa Moungar, Emanuela Gregorio, AfDB)
    23 august 2018 13:44:16
    Abidjan, Cote d'Ivoire (PANA) - As the African Development Bank (AfDB) celebrates World Fashion Day, we take this opportunity to reflect on the potential of the Fashion industry to create value and wealth across the continent, with women and youth at the heart of this change. Full text...

  • 'IMF ready to help Angola address economic challenges', says deputy MD
    22 august 2018 16:55:58
    Luanda, Angola (PANA) – The Government of President João Manuel Gonçalves Lourenço has taken important steps toward improving governance and restoring macroeconomic stability in Angola, according to Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF). Full text...

  • Buhari signs Instrument of Accession to International Cocoa Agreement
    20 august 2018 16:47:05
    Abuja, Nigeria (PANA) – Nigeria’s President Muhammadu Buhari on Monday signed the Instrument of Accession to the International Cocoa Agreement, 2010, sequel to an approval by the Federal Executive Council (FEC). Full text...

  • FAO Director-General stresses the need to create more jobs for youth
    20 august 2018 11:41:13
    Kigali, Rwanda (PANA) - Africa's young people are key to achieving the continent's sustainable development, but realising this great potential requires creating more jobs for them, including in the increasingly digitalized agriculture sectors, FAO Director-General José Graziano da Silva, said on Monday Full text...

  • AUC Chief participaties in SADC Summit in Windhoek
    17 august 2018 13:47:39
    Addis Ababa, Ethiopia (PANA) - The Chairperson of the African Union Commission, Moussa Faki Mahamat, is in Windhoek, Namibia, to take part in the 38th Ordinary Summit of the Southern African Development Community (SADC), scheduled to take place on 17 and 18 August 2018. Full text...

  • AfDB, partners organize 2018 Global Public Procurement Conference in Washington
    17 august 2018 13:45:06
    Washington D.C., US (PANA) - The African Development Bank (AfDB), in collaboration with the Inter-American Development Bank (IADB), and other multilateral development banks and international institutions, will organize a Global Public Procurement Conference on the theme: "Towards the digital frontier". Full text...

  • Canadian Minister visits AfDB in Côte d’Ivoire, reinforces Canada’s role in Africa
    16 august 2018 14:49:55
    Abidjan, Cote d'Ivoire (PANA) - At the invitation of the Government of Côte d’Ivoire and the African Development Bank (AfDB) Group President, Dr. Akinwumi Adesina, Canada’s Minister for International Development, Marie-Claude Bibeau, is due to visit Côte d’Ivoire on Thursday to strengthen relations with the Bank, of which Canada is the fifth-largest shareholder and the fourth among non-regional member countries. Full text...

  • Thursday's exchange rates for the Mauritanian Ouguiya
    16 august 2018 11:05:31
    Nouakchott, Mauritania (PANA) - The following are Thursday's exchange rates for the Mauritanian Ouguiya as announced by the Central Bank of Mauritania. Full text...

  • Nigeria’s inflation drops to 11.14% in July
    15 august 2018 15:51:17
    Abuja, Nigeria (PANA) – The Nigerian National Bureau of Statistics (NBS), says the country’s Consumer Price Index (CPI), which measured inflation for July 2018, dropped to 11.14 per cent (year-on-year) from 11. 23 per cent recorded in June. Full text...

  • Wednesday's exchange rates for the Mauritanian Ouguiya
    15 august 2018 10:29:53
    Nouakchott, Mauritania (PANA) - The following are the exchange rates for the Mauritanian Ouguiya on Wednesday as issued by the Central Bank of Mauritania. Full text...

  • Mauritius set to invest in Tanzania’s sugar industry
    15 august 2018 10:19:43
    Dar es Salaam, Tanzania (PANA) – A Mauritian government mission is visiting Tanzania to complete investment procedures for sugar production, the Ministry of Foreign Affairs and East African Cooperation said on Wednesday. Full text...

  • Tuesday's exchange rates for Ghana cedi
    14 august 2018 11:29:11
    Accra, Ghana (PANA) - The following are Tuesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • ECA launches Zambia STEPS, Country Profiles for Botswana, Lesotho, Namibia and Zimbabwe
    13 august 2018 13:40:44
    Lusaka, Zambia (PANA) - The Economic Commission for Africa (ECA), Southern Africa Office in Lusaka, has launched the Zambia STEPS Profile and the Country Profiles (CPs) for Botswana, Lesotho, Namibia and Zimbabwe. Full text...

  • Monday's exchange rates for Ghana cedi
    13 august 2018 11:23:59
    Accra, Ghana (PANA) - The following are Monday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Nairobi-Addis Ababa road corridor boosts trade in East and Horn of Africa (An AfDB Featue)
    11 august 2018 10:37:38
    Nairobi, Kenya (PANA) - The 895-km highway corridor linking Kenya and Ethiopia has not only eased cross-border traffic between the two countries, but is a major push for economic integration within Africa, resulting in jobs and improved livelihoods across the Horn region. Full text...

  • Friday's exchange rates for Ghana cedi
    10 august 2018 11:17:21
    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 forex rates for Mauritian rupee
    10 august 2018 11:02:17
    Port-Louis, Mauritius (PANA) - The following are Friday's exchange rates for the Mauritian rupee as announced by the Mauritian Commercial Bank. Full text...

  • Rapid population growth key challenge to modernisation of Egyptian economy
    10 august 2018 09:27:54
    Cairo, Egypt (PANA) - Most important issues that face Egypt over the coming years are tied to a rapidly growing population, the modernisation of its economy, and how best to ensure a modern social safety net to protect the most vulnerable in society, according to a senior official of the International Monetary Fund (IMF). Full text...

  • Thursday’s forex rates for Gambian Dalasi
    09 august 2018 14:14:06
    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...

  • Kenya to host top global tourism, hospitality congress
    07 august 2018 16:27:16
    Nairobi, Kenya (PANA) - Kenya will host the 79th Skål International World Congress 2018 in Mombasa in October, Tourism Cabinet Secretary Najib Balala said Tuesday. Full text...

  • Tuesday's exchange rates for Ghana cedi
    07 august 2018 10:52:07
    Accra, Ghana (PANA) - The following are Tuesday's exchange rates for Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Monday's forex rates for Rwandan Franc
    06 august 2018 15:02:27
    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 Gambian Dalasi
    06 august 2018 12:56:53
    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...

  • Restoring confidence in South Africa to oil wheels for growth
    04 august 2018 13:20:53
    Johannesburg, South Africa (PANA) – Post-apartheid years have brought about remarkable progress in South Africa in terms of poverty reduction, access to education, and reducing unemployment. Full text...

  • Kenya’s GDP growth accelerates to 5.7 percent in Q1 of 2018
    04 august 2018 07:06:37
    Nairobi, Kenya (PANA) – Kenya’s economy has continued to perform well, with real GDP growth accelerating to 5.7 percent in the first quarter of 2018, from 4.9 percent in 2017, driven primarily by strengthened confidence following the conclusion of the prolonged election period, favorable weather conditions, and a continued recovery in tourism, according to the International Monetary Fund (IMF). Full text...

  • IMF team underlines prudent spending projections in Mozambique’s budget
    04 august 2018 06:32:47
    Maputo, Mozambique (PANA) – Realistic macroeconomic assumptions as well as prudent revenue and spending projections should underpin Mozambique’s preparations for the 2019 budget, an International Monetary Fund (IMF) staff team has recommended after taking stock of the country’s recent macroeconomic developments. Full text...

  • Tripoli Port resumes operation
    03 august 2018 16:42:06
    Tripoli, Libya (PANA) - Work has resumed at Tripoli Port after the arrival of the ship "GRANDE SICILA" on Wednesday, carrying 1,457 vehicles from Belgium, The Libya Observer reported Friday. Full text...

  • AfDB grants 20-million-euro loan to Cabo Verde to boost local economic development
    03 august 2018 13:39:34
    Abidjan, Cote d'Ivoire (PANA) - The African Development Bank (AfDB) and Cabo Verde have signed a 20-million-euro loan agreement to revitalize the economy of the West African coastal island. Full text...

  • Cameroon to host Sub-Regional Workshop on AfDB's Independent Review Mechanism
    03 august 2018 12:44:36
    Yaoundé, Cameroon (PANA) - The Compliance Review and Mediation Unit (BCRM) of the African Development Bank (AfDB) Group will organize a sub-regional information workshop on the Bank’s “Independent Review Mechanism: A Recourse Avenue for Communities Around Bank-Financed Projects” from 18 to 19 September, 2018, in Yaoundé, Cameroon. Full text...

  • 'Electricity prices on the rise around the world'
    02 august 2018 15:24:00
    Dakar, Sénégal (PANA) - A survey of electricity consumption across the world shows that electricity prices have increased by 1.65% since March 2018. Full text...

  • IMF approves US$100.2 million disbursement to Gabon
    02 august 2018 09:10:37
    Libreville, Gabon (PANA) - The Executive Board of the International Monetary Fund (IMF) has approved immediate disbursement of US$ 100.2 million to Gabon under the Extended Fund Facility (EFF) arrangement, observing that macroeconomic conditions were slowly improving though the country’s recovery remains fragile. Full text...

  • UN, World Bank launch new guide to manage geospatial data
    02 august 2018 05:10:00
    New York, US (PANA) - The UN Statistics Division and the World Bank launched a new guide on Wednesday to help nations worldwide, especially in low- and middle-income countries, better manage data that contains geographical information – known officially as geospatial data. Full text...

  • WB report says inclusive growth essential for poverty reduction in Madagascar
    01 august 2018 18:29:14
    Antananarivo, Madagascar (PANA) - Overall, Madagascar’s economy has been performing well, with growth estimated at 4.2 % in 2017 and projected at 5.0 % in 2018, according to the latest edition of the World Bank’s Economic Update. Full text...

  • Demand for World Bank financing in Middle East and North Africa rises to US$6.3 billion
    01 august 2018 17:39:42
    Washington, US (PANA) – The World Bank responded to strong demand from countries in the Middle East and North Africa Region (MENA) for development finance, global expertise and innovation during the financial year that ended on 30 June 2018, the Bank disclosed Wednesday in Washington, USA. Full text...

  • Wednesday's exchange rates for Mauritanian Ouguiya
    01 august 2018 13:04:11
    Nouakchott, Mauritania (PANA) - Following are Wednesday’s foreign exchange rates for the Ouguiya, as issued by the central bank of Mauritania. Full text...

  • Wednesday's forex rates for Mauritian Rupee
    01 august 2018 12:41:47
    Port-Louis, Mauritius (PANA) - Following are Wednesday’s exchange rates for the Rupee, as issued by the commercial bank of Mauritius. Full text...

  • Wednesday’s forex rates for the Gambian Dalasi
    01 august 2018 10:44:33
    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...

  • IFC, Gaia Energy partner to boost wind power in Africa
    31 july 2018 15:49:50
    Nairobi, Kenya (PANA) - IFC, a member of the World Bank Group, has forged a new partnership with Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa, the institution announced on Tuesday. Full text...

  • Tuesday's exchange rates for Ghana cedi
    31 july 2018 11:10:18
    Accra, Ghana (PANA) - The following are Tuesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • ‘Deepen fight on corruption’ - IMF urges South Africa
    31 july 2018 08:57:57
    Pretoria, South Africa (PANA) – Welcoming the measures announced by South Africa’s new administration to improve governance and reignite business and consumer confidence, the International Monetary Fund (IMF) has urged the authorities to deepen the fight against corruption and advance the ambitious reforms in product and labour markets. Full text...

  • Tuesday’s forex rates for the Gambian Dalasi
    31 july 2018 07:45:07
    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...

  • Morocco making giant strides in electrification (An AfDB Feature)
    30 july 2018 15:32:07
    Rabat, Morocco (PANA) - Morocco has emerged as a pioneer in renewable energy in Africa, revolutionizing its energy sector to achieve nearly 100% nationwide supply Full text...

  • Monday's exchange rates for Ghana cedi
    30 july 2018 10:33:14
    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 the Gambian Dalasi
    30 july 2018 08:53:59
    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...

  • Mauritius, Kenya to sign MOUs l
    28 july 2018 09:06:38
    Port-Louis, Mauritius (PANA) - Mauritius and Kenya will sign a series of Memorandums of Understanding (MOU) with Kenya in several fields. Full text...

  • Saturday’s forex rates for the Gambian Dalasi
    28 july 2018 07:35:24
    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...

  • IFC supports diversification of Liberian economy
    27 july 2018 16:34:10
    Nairobi, Kenya (PANA) - Sérgio Pimenta, the Vice President for Africa and the Middle-East at the International Finance Corporation (IFC), has completed a working visit to Liberia, where he outlined IFC’s engagement and support for efforts to diversify the Liberian economy, the Corporation said on Friday. Full text...

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