Economy -
  • Accra bourse ends week low
    24 september 2004 20:43:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange (GSE) ended Friday's trading low with the GSE All-Share Index down by 102. Full text...

  • Tourist arrivals down in Zimbabwe
    24 september 2004 19:38:00
    Harare- Zimbabwe (PANA) -- Tourist figures in Zimbabwe for the first half of the year fell 36 percent to 827,245 from 1,303,901 last year, the tourism promotion agency said Friday. Full text...

  • Zimbabwean bank shut over insolvency
    24 september 2004 18:37:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's Central Bank Friday closed one of the country's biggest financial institutions, the Trust Bank for alleged insolvency. Full text...

  • Diplomats take swipe at Kenya's anti-graft strategies
    24 september 2004 18:35:00
    Nairobi- Kenya (PANA) -- Diplomats from Britain, Canada, Denmark and Germany have renewed fierce attacks against Kenya's anti- corruption strategy, calling it "evidently flawed" and needing prompt action against senior government officials implicated in a string of dubious transactions. Full text...

  • Mozambique exports soya beans to Norway
    24 september 2004 17:36:00
    Maputo- Mozambique (PANA) -- Mozambique exported its first shipment of 90 tons of soya beans to Norway in August, and officials hope the export could reach 50,000 tons next year. Full text...

  • Diesel price up, petrol down in Maputo
    24 september 2004 16:53:00
    Maputo- Mozambique (PANA) -- The Mozambican Mineral Resources and Energy Ministry Friday announced a 5. Full text...

  • Donors prop Kenya's socio-economic reforms
    24 september 2004 14:45:00
    Nairobi- Kenya (PANA) -- Kenya Friday received US$38. Full text...

  • German investors to visit Kenya
    24 september 2004 13:58:00
    Nairobi- Kenya (PANA) -- A group of German investors arrive Kenya next week to review ways in which their firms could partake in the proposed railway project linking the Kenyan port of Mombasa and Juba City in southern Sudan, the Trade Ministry said here Friday. Full text...

  • Stakeholders mark third NEPAD anniversary
    24 september 2004 12:28:00
    Dakar- Senegal (PANA) -- The Secretariat of the New Partnership for Africa's Development (NEPAD) will on 23 October in Johannesburg mark the third anniversary of the launch of the blueprint, a release indicated Friday. Full text...

  • Kenya lands IMF loan to fight poverty
    24 september 2004 12:08:00
    Nairobi- Kenya (PANA) -- An IMF team, which sojourned here 13-24 September has said Kenya was in line for a 35-million dollar aid due next December, with delegation head Godfrey Kalinga noting the government had met all conditions for the first review of the Poverty Reduction and Growth Facility (PRGF). Full text...

  • ADF backs Mali's Structural Adjustment Programme
    24 september 2004 11:53:00
    Bamako- Mali (PANA) -- The Malian government Thursday adopted the draft statutes ratifying a loan agreement signed on 26 August in Tunis between Mali and the African Development Fund (AFD) on the complementary programme in the third Structural Adjustment Programme (SAP). Full text...

  • SA investors find Kenya, Tanzania more attractive than Uganda
    24 september 2004 11:32:00
    Kampala- Uganda (PANA) -- South African investors find more prospects for business in Kenya and Tanzania than in Uganda, the local press affirmed here Friday, citing a survey conducted by an international consultancy, the Monitor Group. Full text...

  • Lack of demand dulls week at Uganda Stock Exchange
    24 september 2004 11:18:00
    Kampala- Uganda (PANA) -- Lack of demand for equities at the Uganda Securities Exchange (USE) at all five counters rendered it inactive all week long, with the All-Share Index stagnant at 357. Full text...

  • Germany okays Sudan-Kenya rail project
    24 september 2004 08:10:00
    Nairobi- Kenya (PANA) -- Plans for the construction of a Kenya- Sudan rail link has been endorsed by German multi-national investors who are expected here next Monday, as preparations to get the project off the ground hot up. Full text...

  • Investors in Angola, Cape Verde agree fishing project
    23 september 2004 21:39:00
    Praia- Cape Verde (PANA) -- A joint fishing company initiated by Cape Verdean and Angolan businessmen will shortly be submitted to ship owners in Cape Verde for scrutiny and approval. Full text...

  • Gambia gets Commonwealth help in debt management
    23 september 2004 20:54:00
    Banjul- Gambia (PANA) -- The Commonwealth Secretariat is installing its latest debt recording and management system at the finance department in Banjul to help Gambia cope with its external debt estimated at about US$ 666. Full text...

  • Transport ministers of Ghana, Mali and Burkina Faso meet
    23 september 2004 20:34:00
    Accra- Ghana (PANA) -- Transport ministers from Ghana, Mali and Burkina Faso are meeting in Accra to review the status of the implementation of the proposed Community Roads Programme of the New Partnership for Africa's Development (NEPAD) expected to create a road transport corridor from Tema through Ouagadougou to Bamako to facilitate trade links. Full text...

  • West African bank withdraws 310 billion FCFA from market
    23 september 2004 20:09:00
    Paris- France (PANA) -- At least 310 billion FCFA (about US$500 million) have been withdrawn from circulation in the eight member countries of the Central Bank of West African States (BCEAO), its governor Charles Konan Banny revealed in Paris Thursday. Full text...

  • West Africa Gas Pipeline Project to take-off November
    23 september 2004 19:36:00
    Accra- Ghana (PANA) -- The construction phase of the West African Gas Pipeline (WAGP) project is to begin in November, Ghanaian Energy Minister Paa Kwesi Ndoum said in Accra Thursday. Full text...

  • Canada forgives Ghana's debt
    23 september 2004 19:21:00
    Accra- Ghana (PANA) -- Canada announced in Accra Thursday that it has written off a total of 4. Full text...

  • Nigeria raises fuel prices again
    23 september 2004 19:12:00
    Lagos- Nigeria (PANA) -- The Nigerian government Thursday raised the price of gasoline from 43. Full text...

  • Obasanjo urges more support for Africa to tame poverty
    23 september 2004 18:11:00
    New York- UN (PANA) -- As development agencies continue to raise alarm over increasing poverty in Africa, Nigerian President and African Union (AU) chair, Olusegun Obasanjo said in New York Thursday the continent would require more than 65 billion US dollars in annual investment to meet the target of the Millennium Development Goals of reducing poverty by half by 2015. Full text...

  • ADB vice president visits Mauritania
    23 september 2004 16:47:00
    Nouakchott- Mauritania (PANA) -- African Development Bank (ADB) vice president Bisi Ogunjobi is in Nouakchott to hold talks with officials of government ministries linked to projects funded by the Bank, sources revealed here Thursday. Full text...

  • Zambia plans $600 million hydro-electricity project
    23 september 2004 15:41:00
    New York- US (PANA) -- President Levy Mwanawasa announced here Thursday Zambia was embarking on a $600 million hydro-electricity project in partnership with a Chinese firm, as part the regime's plan to export power to neighbouring countries. Full text...

  • Sacked Malawi tea workers demonstrate over pay
    23 september 2004 14:47:00
    Blantyre- Malawi (PANA) -- Over 600 sacked tea workers Thursday marched on the District Commissioner's office in the southern tea-growing district of Mulanje, about 90km south of here, threatening to burn down tea estates over delayed severance pay. Full text...

  • Germany donates $45 million to Kenya's recovery
    23 september 2004 14:27:00
    Nairobi- Kenya (PANA) -- Germany has given Kenya US$45 million to help improve three key socio-economic sectors prioritised by the government of the east African nation. Full text...

  • Multiple bank charges alarm Uganda parliament
    23 september 2004 14:08:00
    Kampala- Uganda (PANA) -- Uganda Parliament has said it is alarmed by numerous charges imposed by local commercial banks, noting that the practice waters down efforts to promote a culture of banking in a country reeling from over two decades of economic distortions. Full text...

  • Ghana Cocoa Board signs $850 million pact with banks
    22 september 2004 22:17:00
    Accra- Ghana (PANA) -- Ghana Cocoa Board on Wednesday signed an agreement with a consortium of 36 banks, including four Ghanaian banks, for a $850-million loan to buy cocoa for the 2004/2005 crop season. Full text...

  • Accra bourse down on GCB loss
    22 september 2004 21:25:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange All-Share Index fell Wednesday by 21. Full text...

  • World Bank team diagnoses reforms in Algeria
    22 september 2004 21:17:00
    Algiers- Algeria (PANA) -- The deputy-president of the World Bank, in charge of the Near East and North Africa region, Christian Poortman, has arrived here at the head a top-level delegation to hold talks with Algerian authorities as the country embarks on a five-year economic growth programme costing $50 billion. Full text...

  • Development partners discuss poverty reduction in Sierra Leone
    22 september 2004 20:51:00
    Freetown- Sierra Leone (PANA) -- The ninth meeting of the Development Partnership Committee (DEPAC), which brought together officials of the Sierra Leone government and development partners, has ended in Freetown with the the country's Poverty Reduction Strategy top on the agenda. Full text...

  • Franc Zone Finance Ministers to meet in Paris
    22 september 2004 20:29:00
    Paris- France (PANA) -- Economy and Finance Ministers of African countries within the Franc currency Zone are to meet their French counterpart Nicolas Sarkozy Thursday in Paris, official sources said Wednesday. Full text...

  • Experts begin work on Political Federation of EAC
    22 september 2004 19:55:00
    Nairobi- Kenya (PANA) -- An expert panel appointed recently to expedite political federation of the East African Community (EAC) has started work in Arusha, Tanzania, aiming to beat the 30 November deadline given it, the EAC Secretariat said Wednesday. Full text...

  • Mozambican, Portuguese travel agencies sign co-operation pact
    22 september 2004 19:36:00
    Maputo- Mozambique (PANA) -- The Association of Mozambican Travel Agencies, AAVTUM, and its Portuguese counterpart, APAVT signed a memorandum of understanding Wednesday to boost co-operation. Full text...

  • Japan boosts fishing in Mauritania
    22 september 2004 18:55:00
    Nouakchott- Mauritania (PANA) -- Japan has granted Mauritania 1. Full text...

  • Mid-week trading bullish at Nigerian bourse
    22 september 2004 16:21:00
    Lagos- Nigeria (PANA) -- Transactions at the Nigerian Stock Exchange (NSE) were bullish Wednesday, with 25. Full text...

  • Africa's problems burden to global stability - Japanese PM
    22 september 2004 14:42:00
    New York- UN (PANA) -- Japanese Prime Minister Junichiro Koizumi has warned that there would be no stability and prosperity in the world until poverty, conflicts and humanitarian problems in Africa were resolved. Full text...

  • Zuma heads South African delegation to China
    22 september 2004 13:39:00
    Johannesburg- South Africa (PANA) -- Deputy President Jacob Zuma will 26 September lead a South African delegation on a five-day official visit to China to further enhance ties between the two nations, an official statement confirmed Wednesday. Full text...

  • Fifth Italian trade fair opens next week
    21 september 2004 20:37:00
    Tripoli- Libya (PANA) -- Some 230 companies will participate in the 5th Italian trade fair to be held in in Tripoli from 27 September to 1 October, it was revealed here Tuesday. Full text...

  • Gambia sends 25 for petroleum studies in Taiwan
    21 september 2004 19:56:00
    Banjul- Gambia (PANA) -- Gambia on Tuesday awarded 25 scholarships to 25 students to study petrochemical engineering and other subjects related to petroleum management at Taiwan's Taipei University of Science and Technology. Full text...

  • Kenya seeks to commercialise fish farming
    21 september 2004 17:39:00
    Nairobi- Kenya (PANA) -- The Kenyan government plans to partner with the World Fish Centre, an international NGO, to establish hatcheries and fish breeding centres throughout the country to elevate fish farming to commercial levels. Full text...

  • Chissano says development should not be dictated from outside
    21 september 2004 17:08:00
    Maputo- Mozambique (PANA) -- Mozambican President Joaquim Chissano says development should not be dictated from outside, but should rely on innovative models involving domestic participation and inclusion based on good governance, accountability, transparency, good economic policies and a sound trade environment. Full text...

  • Chinese company to invest $100 million in Nigeria
    21 september 2004 12:47:00
    Abuja- Nigeria (PANA) -- China's leading telecommunications equipment maker, ZTE has offered to establish a factory worth 100 million dollars in Nigeria for the manufacture of GSM handsets as well as SIM and recharge cards. Full text...

  • British trade delegation visits Sierra Leone
    21 september 2004 11:28:00
    Freetown- Sierra Leone (PANA) -- A business delegation from the Birmingham Chamber of Commerce and Industry (BCCI) is in Freetown for a four-day visit, the second such trip since the end of the civil war in Sierra Leone. Full text...

  • US says criticisms on cotton subsidies are unfounded
    21 september 2004 08:11:00
    Dakar- Senegal (PANA) -- Following a sustained outcry from mainly African growers, the Office of the US Trade Representative has challenged claims that subsidies to America's cotton farmers were forcing down world market prices and hurting foreign growers. Full text...

  • Bearish pressures weigh Ghana bourse down
    20 september 2004 19:47:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange inched up by 2. Full text...

  • Annan seeks equity for poor nations in globalisation
    20 september 2004 19:20:00
    New York- UN (PANA) -- UN Secretary General Kofi Annan Monday called for a more equitable and fairer say for developing nations which "feel excluded and threatened" by the on-going process of globalisation. Full text...

  • Morocco expects 19 million tourists in 2010
    20 september 2004 19:11:00
    Tan-Tan- Morocco (PANA) -- Morocco expects the number of tourist arrival to increase from five million in 2004 to 10 million in 2010, the director of the Moroccan National Tourism Office, Abbas Azzouzi revealed here at the weekend. Full text...

  • Kenya port upgrades equipment as regional cargo swells
    20 september 2004 18:03:00
    Nairobi- Kenya (PANA) -- The Kenya Ports Authority (KPA) remained upbeat against a backdrop of huge cargo inflows Monday, announcing the expected arrival of new high-tech cranes and tugboats to handle cargoes destined for Uganda, Rwanda and DR Congo. Full text...

  • Somali livestock stakeholders meet on export embargo
    20 september 2004 17:25:00
    Mogadishu- Somalia (PANA) -- A two-day meeting on ways to lift the embargo imposed on Somali livestock and restore the crucial livestock trade with the Persian Gulf states entered its second Monday in Garowe, headquarters of the self-declared autonomous region of Puntland. Full text...

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