Economy -
  • Association established in Algeria to promote NEPAD
    18 february 2002 10:53:00
    Algiers- Algeria (PANA) -- Several Algerian groups have formed an association in the southern town of Tamanrasset to promote the New Partnership for Africa's Development of Africa (NEPAD). Full text...

  • IMF earmarks $300 million in debt relief for Zambia
    18 february 2002 08:55:00
    Lusaka- Zambia (PANA) -- The IMF plans to give Zambia 300 million US dollars in debt relief, according to assistant director Robert Sharer in the Fund's African department. Full text...

  • EU working on co-operation with Libya
    17 february 2002 19:20:00
    Tripoli- Libya (PANA) -- An envoy of the European Parliament, Philippe Maurion, said Saturday that the EU valued a partnership agreement with Libya, like the ones it had concluded with the other Arab Maghreb Union (AMU) member countries. Full text...

  • Kenyan VP hails Tanzania's structural reforms
    17 february 2002 17:54:00
    Dar es Salaam- Tanzania (PANA) -- Kenyan Vice-President George Saitoti Saturday praised Tanzania's deepening macro-economic and structural reforms, saying the changes should, however, be sustained for a strong economy. Full text...

  • Burkina Faso intensifies food Campaign
    17 february 2002 17:53:00
    Ouagadougou- Burkina Faso (PANA) -- Telefood, a campaign to raise funds against hunger in Burkina Faso was re-launched in Ouagadougou Saturday under the patronage of the country's first lady, Chantal Compaore. Full text...

  • Nigeria's External Reserves Drop
    17 february 2002 16:14:00
    Lagos- Nigeria (PANA) -- Nigeria's external reserves stood at 10. Full text...

  • CBN Allows Direct Sale Of Travellers' Cheques to Nigerians
    17 february 2002 15:26:00
    Lagos- Nigeria (PANA) -- In continuation of the foreign exchange market deregulation and strengthening of the local currency, the Central Bank of Nigeria (CBN) has entered into a working arrangement with Travelex World-wide to allow direct sale of Thomas Cook travellers' cheques to Nigerians. Full text...

  • Malian poultry farmers, hoteliers lament bad deal at CAN 2002
    17 february 2002 12:15:00
    Bamako- Mali (PANA) -- Poultry farmers in Mali and their clients in the catering industry have bemoaned losses of more than 400 million francs CFA (526,000 US dollars), after business failed to run according to plan at the last Cup of Nations finals, which the country hosted. Full text...

  • Uganda's export sector gets USAID boost
    17 february 2002 10:50:00
    Kampala- Uganda (PANA) -- The US Agency for International Development (USAID) has extended a 30-million dollar loan guarantee programme to prop up Uganda's efforts at stimulating exports. Full text...

  • Trade unions in uproar over Kenyan firm's receivership
    17 february 2002 10:37:00
    Nairobi- Kenya (PANA) -- Kenyan tailors and their counterparts in the textile industry are up in arms after creditors placed one of the country's largest textile mills under receivership last week. Full text...

  • Cape Verde, Canary Islands plan joint tourist agency
    16 february 2002 21:35:00
    Praia- Cape Verde (PANA) -- The Canary Islands and Cape Verde have signed an agreement aimed at setting up an agency to promote the development of tourism in the Cape Verdean islands of Boa Vista and Maio, well-informed sources said. Full text...

  • Cote d'Ivoire adopts fiscal budget for 2002
    16 february 2002 21:03:00
    Abidjan- Cote d'Ivoire (PANA) -- The Ivorian government has adopted a balanced budget of 1946. Full text...

  • WACEM buys the Burkina Faso Cement Company
    16 february 2002 18:56:00
    Ouagadougou- Burkina Faso (PANA) -- The defunct Burkina Cement Company (CIMAT) will revive with the designation of a Togo-based Indian group, West African Cement (WACEM) as a rescuer, following an international tender. Full text...

  • Sudan Prohibits Monopoly To Boost Free Trade
    16 february 2002 17:24:00
    Khartoum- Sudan (PANA) -- Sudan has drafted a law prohibiting monopolies to cope with the requirements of the World Trade Organisation (WTO), Justice minister Ali Yassin disclosed Saturday in Khartoum. Full text...

  • Zambia's budget under threat of EU sanctions
    16 february 2002 12:21:00
    Lusaka- Zambia (PANA) -- Zambia's 2002 fiscal budget is under threat of being upset by strained relations between main donor nations of the European Union and the new government of President Levy Mwanawasa. Full text...

  • Africa Told To Claim 21st Century In Development
    16 february 2002 10:00:00
    Nairobi- Kenya (PANA) -- Africa must claim the 21st century in economic development after its dismal performance in the past century, Kenya's Vice-President George Saitoti has said. Full text...

  • Uganda govt plans to force fuel prices reduction
    15 february 2002 23:08:00
    Kampala- Uganda (PANA) -- Uganda is currently drafting a law that will oblige oil companies to reduce pump prices, PANA has learnt in Kampala. Full text...

  • France grants Cote d'Ivoire 120 billion FCFA
    15 february 2002 22:41:00
    Paris- France (PANA) -- France has granted Cote d'Ivoire 158 million dollars (approximately 120 billion FCFA in support of the country's education and health sectors. Full text...

  • Mauritius attracts less tourists
    15 february 2002 22:25:00
    Port Louis- Mauritius (PANA) -- Holidaymakers visiting Mauritius decreased by 2. Full text...

  • Commonwealth HIPC forum for next week in Malawi
    15 february 2002 22:20:00
    Blantyre- Malawi (PANA) -- Finance ministers belonging to 11 Commonwealth Highly Indebted Poor Countries Forum are expected to converge on Lilongwe Monday-Wednesday to discuss with their counterparts from four richer commonwealth countries on the poverty situation in their countries. Full text...

  • US to help Ghana develop transit systems
    15 february 2002 20:45:00
    Accra- Ghana (PANA) -- A senior official of the U. Full text...

  • Kenyan firm acquires Zambian oil company
    15 february 2002 19:44:00
    Nairobi- Kenya (PANA) -- A Kenyan oil firm, Kenol, is to acquire Jovenna Zambia, a Lusaka-based petroleum marketing company, a Nairobi-published daily reported Friday. Full text...

  • GSE Stock Index maintains tempo
    15 february 2002 18:21:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange (GSE) All-share Index moved up Friday, thanks to a 90-cedi gain by Unilever Ghana Limited (UNIL). Full text...

  • Zambian kwacha collapses under severe demand pressure
    15 february 2002 18:14:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has sunk by a significant 7. Full text...

  • Minister says 5.5 million Moroccans are poor
    15 february 2002 17:56:00
    Rabat- Morocco (PANA) -- The number of Moroccans living below poverty line has risen from 4. Full text...

  • South Africa Airways upgrading fleet
    15 february 2002 17:20:00
    Cape Town- South Africa (PANA) -- South Africa Airways (SAA) is upgrading its fleet to boost under a programme, an official said Friday could cost the Company up to 1. Full text...

  • COMESA gets American assistance
    15 february 2002 11:41:00
    Nairobi- Kenya (PANA) -- The US government has donated 800,000 dollars to the Common Market of East and Southern Africa (COMESA) and further undertaken to sponsor a study tour of three COMESA officials to the World Trade Organisation summit in Geneva. Full text...

  • Profits at Barclays Bank Kenya up 40 percent
    15 february 2002 10:04:00
    Nairobi- Kenya (PANA) -- Barclays Bank Kenya has announced results for the 2001 returning an impressive pre-tax profit of 4,200 million Kenyan shillings (53. Full text...

  • Prices index goes up 6.6 points in Mauritius
    15 february 2002 09:33:00
    Port Louis- Mauritius (PANA) -- The consumer price index (CPI) in Mauritius surged 6. Full text...

  • UN resident envoys discuss Africa's development
    14 february 2002 23:23:00
    Yaounde- Cameroon (PANA) -- Some 20 UN resident representatives in Central and Eastern African countries Thursday ended a four-day annual meeting to discuss development problems in the sub-region. Full text...

  • Germany revives co-operation with Burundi
    14 february 2002 23:02:00
    Bujumbura- Burundi (PANA) -- The German government has decided to resume bilateral co-operation with Burundi following positive political developments in the country. Full text...

  • Gabon, Benin sign maritime agreement
    14 february 2002 22:08:00
    Cotonou- Benin (PANA) -- Benin and Gabon on Thursday signed an agreement to ensure coordination of bilateral maritime traffic and maritime transportation. Full text...

  • French investors scout for business in Cape Verde
    14 february 2002 21:48:00
    Praia- Cape Verde Island (PANA) -- Cape Verde is likely to benefit from French investments in pharmaceuticals, civil engineering, transport, fisheries, telecommunications and tourism following a visit by a team from the Club of French Investors in Senegal (CIFAS). Full text...

  • Mauritius steps up anti-fraud measures
    14 february 2002 21:28:00
    Port Louis- Mauritius (PANA) -- Mauritius has set up a Financial Intelligence Unit (FIU) to fight illegal practices in the financial sector, the Economic Planning and Development Ministry said in Port-Louis Thursday. Full text...

  • COMESA Experts discuss partnership agreements
    14 february 2002 19:11:00
    Lusaka- Zambia (PANA) -- Experts from the Common Market for Eastern and Southern Africa (COMESA) began a meeting in Lusaka Thursday on economic partnership agreements and a regional fund, to be launched soon. Full text...

  • India to set up steel plant in Namibia
    14 february 2002 19:01:00
    Windhoek- Namibia (PANA) -- India's Hind Group is preparing to establish a multi-million dollar steel in Namibia in the first half of this year, PANA has learnt in Windhoek. Full text...

  • Muluzi denies donors have stopped assistance to Malawi
    14 february 2002 16:31:00
    Blantyre- Malawi (PANA) -- President Bakili Muluzi has criticised those he called "speculators" for suggesting that Malawi's donors have suspended assistance to the country. Full text...

  • 184,000 sign petition for cancellation of Africa's debt
    13 february 2002 22:57:00
    Paris- France (PANA) -- About 184,000 persons, including politicians, have signed a petition to draw the attention of French presidential candidates in the forthcoming election to the need to commit themselves to total cancellation of Africa's debt. Full text...

  • ADB to finance projects in Algeria
    13 february 2002 21:26:00
    Algiers- Algeria (PANA) -- African Development Bank president Omar Kabaj said Wednesday that the bank intends to finance several projects in Algeria. Full text...

  • Ghana Stock Exchange Index Moves Up
    13 february 2002 18:35:00
    Accra- Ghana (PANA) -- The All-Share Index on Ghana Stock Exchange moved up Wednesday closing at 961. Full text...

  • Mali revives work on oil prospecting
    13 february 2002 17:50:00
    Bamako- Mali (PANA) -- The Malian government has just revived its oil prospecting activity by signing an agreement with a French firm, Indigopool. Full text...

  • Benin's tourism sector launches bilingual website
    13 february 2002 17:11:00
    Cotonou- Benin (PANA) -- Benin's Culture, Tourism and Crafts minister Amos Elegbe and the US Ambassador Pamela Bridgewater have launched a bilingual website on West African country's tourism sector. Full text...

  • Profits dip 16 percent at Mauritius sugar investment trust
    13 february 2002 15:50:00
    Port Louis- Mauritius (PANA) -- The Mauritius Sugar Investment Trust (SIT) Wednesday announced a 16-percent drop in profits for the year 2001, down from 38. Full text...

  • Kenyan shilling slips against the dollar
    13 february 2002 15:27:00
    Nairobi- Kenya (PANA) -- Barely 24 hours after posting a major gain against the US dollar, the Kenyan shilling slipped a few cents at Wednesday's trade. Full text...

  • Zambian Kwacha buckles under pressure from importers
    13 february 2002 14:10:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has touched a new low of 4,400 units against the US dollar Wednesday, slumping 0. Full text...

  • Ghanaian, Nigerian Workers Meet In Abuja
    13 february 2002 09:50:00
    Lagos- Nigeria (PANA) -- Nigerian and Ghanaian workers, began a four-day bilateral meeting in Abuja Tuesday to address issues of common interests, the local media reported Wednesday. Full text...

  • Mali produces 55 tonnes of gold
    13 february 2002 07:51:00
    Bamako- Mali (PANA) -- Mali's mining sector produced some 55 tonnes of gold in 2001, according to figures from the National Statistics Board (DNSI). Full text...

  • SADC Ministers meet on regional integration
    13 february 2002 07:42:00
    Dar es Salaam- Tanzania (PANA) -- Ministers of the Southern African Development Community (SADC) meet Wednesday in Zanzibar on integration matters overshadowed by the death of a Mozambican delegate Amalia Dias in her hotel room. Full text...

  • Air Madagascar loses 3 billion francs daily
    12 february 2002 23:42:00
    Antananarivo- Madagascar (PANA) -- Air Madagascar's general manager James Andrianalisoa has disclosed that the company is losing 3 billion Malagasy francs daily as a result of the general strike which started 15 days ago. Full text...

  • Mali gets loan for national grid rehabilitation
    12 february 2002 23:26:00
    Bamako- Mali (PANA) -- Mali's electricity company, EDM, has secured a seven billion CFA franc loan from the West African Development Bank for rehabilitation of the national grid, an official source disclosed here Tuesday. Full text...

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