Economy -
  • Nigeria redeems $1.9 million of foreign debt
    30 august 2003 18:18:00
    Lagos- Nigeria (PANA) -- Nigeria's Debt Conversion Programme (DCP) staged a major comeback Friday as a total of $1. Full text...

  • WAMZ leaders seek redemption of contributions
    30 august 2003 17:41:00
    Abuja- Nigeria (PANA) -- Heads of State and government of the West African Monetary Zone (WAMZ) have called on member states of the zone to urgently redeem all outstanding contributions to its Stabilisation and Cooperation Fund and the capital for the take off of the West African Central Bank. Full text...

  • Nigerian currency appreciates slightly against US dollar
    30 august 2003 17:22:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, appreciated by 0. Full text...

  • Transactions in Nigerian govt securities upbeat
    30 august 2003 17:06:00
    Lagos- Nigeria (PANA) -- Transactions in the Nigerian government securities were on the increase this week as a total of 49. Full text...

  • Zimbabwe central bank bans bank from forex trade
    30 august 2003 14:35:00
    Harare- Zimbabwe (PANA) -- The Zimbabwean central bank on Saturday banned one of the nation's biggest banks from trading in hard currency for contravening exchange regulations. Full text...

  • Second phase of Mozambican aluminium smelter completed
    30 august 2003 12:17:00
    Maputo- Mozambique (PANA) -- The aluminium smelter Mozal has completed the expansion of its Beluluane factory in the district of Boane, in the southern Mozambican province of Maputo, which started operating on 20 August. Full text...

  • Mauritania and Morocco sign mining and energy accords
    30 august 2003 11:45:00
    Nouakchott- Mauritania (PANA) -- Mauritania's industry minister Zeidane Ould H'Meyda and his Moroccan counterpart of energy and mining, Mohamed Aboutaleb, have signed a cooperation agreement in mining and energy. Full text...

  • ECOWAS to hold ministerial council in Benin
    30 august 2003 10:52:00
    Cotonou- Benin (PANA) -- Finance, integration and trade ministers from the 15-nation Economic Community of West African States (ECOWAS) will attend a two-day extraordinary session here Monday and Tuesday devoted to trade liberalisation and the implementation of the grouping's levy. Full text...

  • Poor prices hurt Ghanaian cotton farmers
    29 august 2003 21:13:00
    Tamale- Ghana (PANA) -- Ghana is nowhere on the world league table of cotton producers, not even in the West African sub-region. Full text...

  • Accra bourse continues to climb, but volumes still low
    29 august 2003 21:02:00
    Accra- Ghana (PANA) -- The Accra bourse continued to climb in trading on Friday, but volumes remained low as big time investors again stayed away. Full text...

  • Oxfam supports common African position at WTO talks
    29 august 2003 20:02:00
    Nairobi- Kenya (PANA) -- British charity Oxfam International Friday declared its support for African heads of state's position on the upcoming World Trade Organisation (WTO) talks, urging unity of the continent amid attempts to divided African countries. Full text...

  • IMF delegation visits Cote d'Ivoire
    29 august 2003 19:41:00
    Abidjan- Cote d'Ivoire (PANA) -- A visiting IMF delegation assessing the economic and political situations in Cote d'Ivoire Friday met with Yves Yao Kouame, secretary general in the office of Ivorian Prime Minister Seydou Diarra. Full text...

  • Tanzania sustains trade surplus with EU
    29 august 2003 19:07:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania recorded a trade surplus worth 51 million euro with the EU, its main trading partner, for the third consecutive year in 2002, according to official figures published here Friday. Full text...

  • Africa opposes introduction of new negotiations at WTO
    29 august 2003 18:56:00
    Nairobi- Kenya (PANA) -- African countries have resolved to resist attempts by rich nations to introduce new areas of negotiations, especially the so-called Singaporean issues, at the World Trade Organization ministerial Conference in Cancun, Mexico next month. Full text...

  • African farmers suffer burden of subsidies in rich nations
    29 august 2003 15:33:00
    Nairobi- Kenya (PANA) -- African trade ministers Friday reiterated that huge agricultural subsidies given by governments of rich Western nations to their farmers caused massive losses among cotton farmers in Mali, Burkina Faso and Benin. Full text...

  • Official urges development of tourism in DR Congo
    29 august 2003 10:24:00
    Kinshasa- DR Congo (PANA) -- Tourism ought to be a prime mover of the economy, create jobs, protect the environment and contribute substantially to national reconstruction in DR Congo, National Tourism Authority (ONT) director Bwanakawa Kasereka told PANA Thursday. Full text...

  • World Bank executive due in Mauritania
    29 august 2003 07:44:00
    Nouakchott- Mauritania (PANA) -- World Bank vice-chairman for Africa Callisto Madavo is due here 1 September for a three-day working visit, well-placed sources affirmed Thursday. Full text...

  • EC grants 10 million euro to prop Benin's judiciary
    28 august 2003 19:50:00
    Cotonou- Benin (PANA) -- The European Commission (EC) has released 10 million euro to support Benin's integrated programme to reinforce the country's legal and judicial systems. Full text...

  • Head of Gambian NGO differs with president on NEPAD
    28 august 2003 19:34:00
    Banjul- Gambia (PANA) -- The Chairman of Gambia's NGO Coalition on the New Partnership for Africa's Development (NEPAD), Sheikh E. Full text...

  • ECOWAS convergence council meeting opens in Abuja
    28 august 2003 18:59:00
    Abuja- Nigeria (PANA) -- The 12th meeting of the convergence council of the West African Monetary Zone opened here Thursday with Nigeria's Minster of Cooperation and Integration in Africa saying most member states had made significant progress in meeting the primary convergence criteria for the establishment of the Zone. Full text...

  • Zambia reports 35-percent trade surplus
    28 august 2003 17:53:00
    Lusaka- Zambia (PANA) -- Zambia's has reported a gain of 35 percent in trade balance, with imports declining 7 percent in the month of August, according to data released here Thursday. Full text...

  • Zimbabwe insurance firm sets up in UK
    28 august 2003 17:20:00
    Harare- Zimbabwe (PANA) -- An insurance company here said Thursday it would set up a subsidiary in Britain next month to tap into the market of thousands of Zimbabweans who have flocked to the UK in the last two years to look for work. Full text...

  • Trading stagnates at West African bourse
    28 august 2003 16:34:00
    Dakar- Senegal (PANA) -- Trading stayed stagnant Thursday at the Abidjan-based West African regional stock exchange (BRVM), with the All-Share Index reported at 65. Full text...

  • African Trade ministers threaten walk-out at WTO talks
    28 august 2003 15:59:00
    Nairobi- Kenya (PANA) -- African Trade ministers, legislators and intellectuals opened a two-day pre-World Trade Organisation meeting here Thursday with threats that African delegations might walk out of the WTO ministerial conference coming up next month in Cancun, Mexico. Full text...

  • Ethiopia records fall in leather export
    28 august 2003 15:44:00
    Addis Ababa- (PANA) -- Ethiopia's Leather Company, ELICO said Thursday, it earned 8. Full text...

  • Report says Chad unprepared for petroleum exploration
    28 august 2003 15:07:00
    N'djamena- Chad (PANA) -- Chad lacks the "vision, organisation and the inexperience," to develop its petroleum sector, according to a report this week by a government research group. Full text...

  • Tanzania hopes to improve export-to-import ratio
    28 august 2003 14:49:00
    Dar es Salaam- Tanzania (PANA) -- The government of Tanzania has approved a new trade policy it hopes would raise the value of export earnings, which have failed to grow despite a series of economic reforms. Full text...

  • Reunion's Bourbon Group reports increased turnover
    28 august 2003 12:34:00
    Saint Denis- Reunion (PANA) -- Reunion's Bourbon Group, renowned for its department stores and maritime services in West Africa, reported a significant increase in turnover for the first quarter of 2003, company sources said. Full text...

  • Poverty index up in Angola
    28 august 2003 11:05:00
    Luanda- Angola (PANA) -- The poverty index soared in Angola between 2000 and 2001, from 11. Full text...

  • EIB provides loan to four Niger banks
    28 august 2003 10:57:00
    Niamey- Niger (PANA) -- The European Investment Bank (EIB) is giving a loan of 3. Full text...

  • Luanda brainstorms on foreign debt
    27 august 2003 20:18:00
    Luanda- Angola (PANA) -- Officials of the Angolan national bank and Finance and Planning ministries have been meeting for the third successive day here to draw up a strategy to negotiate the country's foreign debt. Full text...

  • Zimbabwe liberalises oil industry
    27 august 2003 20:03:00
    Harare- Zimbabwe (PANA) -- The Zimbabwe government, struggling to deal with a four-year crippling fuel crisis, Wednesday liberalised the oil industry by allowing private companies for the first time to import fuel. Full text...

  • African trade ministers to examine ACP/EU Sugar Protocol
    27 august 2003 19:45:00
    Nairobi- Kenya (PANA) -- African trade ministers will converge here Thursday to build a consensus on the vexing issues of subsidies granted by rich nations to their farmers to the detriment of agricultural production in poor countries, and the fight for cheaper drugs for the poor. Full text...

  • South Africa attracts more US investors - survey
    27 august 2003 17:57:00
    Washington- US (PANA) -- A majority of American businesses in South Africa view that country's economic climate as excellent or good, with nearly half planning to invest more in the coming year than they did last year, according to a survey. Full text...

  • Zimbabwe records increases in tourism earnings
    27 august 2003 17:38:00
    Harare- Zimbabwe (PANA) -- Zimbabwe earned $36. Full text...

  • Zimbabwe mine directors recommend SA group for shares
    27 august 2003 16:51:00
    Harare- Zimbabwe (PANA) -- Directors at Zimbabwe's biggest platinum mining company Wednesday turned down a local banking group's bid for a 40-percent stake, and instead recommended a rival bidder, Impala Platinum Holdings (Implats) of South Africa. Full text...

  • Low quality, bad prices douse Uganda's tea exports
    27 august 2003 16:39:00
    Kampala- Uganda (PANA) -- Persistent low quality leaves coupled with falling international prices pinched deep into Uganda's tea export volumes and earnings in the first half of this season, industry authorities conceded Tuesday. Full text...

  • ITC launches 'Buying From Africa For Africa' initiative
    27 august 2003 16:16:00
    Nairobi- Kenya (PANA) -- The International Trade Centre (ITC) on Wednesday launched a new initiative aimed at boosting the effective participation of African companies in the humanitarian aid business, estimated at $50 billion for Africa alone. Full text...

  • New JSE listing requirements rattle directors
    27 august 2003 14:49:00
    Johannesburg- South Africa (PANA) -- The new listing requirements for an independent director at the Johannesburg Securities Exchange (JSE) has triggered a last-minute rush for postulants with the required profile. Full text...

  • Midweek turnover up at Nairobi bourse
    27 august 2003 14:10:00
    Nairobi- Kenya (PANA) -- Buoyed by robust trading, turnover at the Nairobi Stock Exchange soared Wednesday to 133 million Kenyan shillings on a volume of 1. Full text...

  • Southern Africa gears for WTO talks
    27 august 2003 13:01:00
    Dar es Salaam- Tanzania (PANA) -- Southern African delegates to next month's crucial ministerial meeting of the World Trade Organisation (WTO) in Cancun, Mexico have said they would push for an equal chance in what they described as "the battle for life". Full text...

  • Chiluba's theft case derailed by Zambian workers' strike
    27 august 2003 12:57:00
    Lusaka- Zambia (PANA) -- The theft case of former Zambian President Frederick Chiluba failed to resume Wednesday because of the national strike by civil servants, now on its second day. Full text...

  • Malawi loses US$15 million in maize sales
    27 august 2003 12:12:00
    Blantyre- Malawi (PANA) -- Malawi's National Food Reserve Agency (NFRA) has sold 100,000 tons from its strategic grain reserves at a loss of about 15 million US dollars, an official said Wednesday. Full text...

  • Security Council renews ban on Liberian timber
    27 august 2003 11:14:00
    New York- US (PANA) -- Worried by fears that timber revenues could still be used to fuel the conflict in Liberia in spite of relative peace in the country, the UN Security Council has extended its recently imposed embargo on the country's timber. Full text...

  • Nigeria to plant Mauritian sugar cane varieties
    26 august 2003 22:42:00
    Port-Louis- Mauritius (PANA) -- Officials from Nigeria's Jigawa State plan to plant 50,000 additional hectares with sugar cane varieties from by the Mauritian Sugar Industry Research Institute (MSIRI) to produce the two million tonnes of sugar required by the population, it was revealed here Tuesday. Full text...

  • UNDP report nudges action to curb poverty, hunger in Zambia
    26 august 2003 21:07:00
    Lusaka- Zambia (PANA) -- The United Nations Development Programme (UNDP) Tuesday launched Zambia's annual Human Development Report, with its country representative Olubanke King-Akerele describing the report as "an agenda for action" to eradicate poverty and hunger. Full text...

  • Zimbabwe signs investment agreement with OPEC
    26 august 2003 19:44:00
    Harare- Zimbabwe (PANA) -- Zimbabwe Tuesday signed an investment protection agreement with the OPEC Fund for International Development, which officials said might lure petrol dollars from rich oil producing nations. Full text...

  • Zimbabwe earns $15 million from tobacco in week
    26 august 2003 17:28:00
    Harare- Zimbabwe (PANA) -- Zimbabwe earned $15 million from tobacco exports last week, the highest weekly earnings from the crop this year, an official has said. Full text...

  • Mbeki due in Mozambique Wednesday
    26 august 2003 15:45:00
    Johannesburg- South Africa (PANA) -- South African President Thabo Mbeki, currently in Tanazania for the Southern African Development Community (SADC) summit, leaves Dar es Salaam Tuesday for Pemba, to co-chair with President Joaquim Chissano, a South Africa-Mozambican economic meeting Wednesday. Full text...

  • South African Airways records 545-million-Rand profit
    26 august 2003 15:27:00
    Johannesburg- South Africa (PANA) -- South African Airways (SAA) announced Tuesday that it posted 545 million-Rand profit during April 2002 to March 2003 financial year, compared to a gross operating loss of 834 million Rand in the previous year. Full text...

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