Economy -
  • Bamako to host IMF regional assistance centre
    21 may 2003 21:05:00
    Bamako- Mali (PANA) -- Bamako, the Malian capital, has been selected to host the International Monetary Fund (IMF) regional assistance centre, the Malian economy and finance ministry said Wednesday in a statement. Full text...

  • Belgium advises tourists to avoid Kenyan destination
    21 may 2003 21:01:00
    Brussels- Belgium (PANA) -- Belgian foreign ministry officials have advised its nationals to avoid travelling to Kenya in view of impending terrorist attacks against the East African country. Full text...

  • Standchart gain boosts All-Share Index in Accra
    21 may 2003 20:37:00
    Accra- Ghana (PANA) -- A huge gain on Wednesday by Standard Chartered Bank (SCB), the highest priced equity on the Ghana Stock Exchange (GSE), gave a big shot to the All-Share Index although traded volumes hit another low mark. Full text...

  • Third Asian business session underway in Accra
    21 may 2003 20:29:00
    Accra- Ghana (PANA) -- The Third Asian Business Session is underway in Accra to forge South-South cooperation between Ghana and Asia through the promotion of private sector investment and technology transfer. Full text...

  • Senegal River basin summit ends in Nouakchott
    21 may 2003 20:24:00
    Nouakchott- Mauritania (PANA) -- Heads of state from Mali, Mauritania and Senegal on Wednesday concluded the 13th summit of the Senegal River Basin Development Organization (OMVS) after adopting new guidelines on the joint body's operations. Full text...

  • Kibaki assures envoys, donors of Kenya's economic resolve
    21 may 2003 19:22:00
    Nairobi- Kenya (PANA) -- Diplomatic representatives and top World Bank officials held consultations here Wednesday with President Mwai Kibaki and senior aides concerning the government's economic game plan. Full text...

  • Kenya's flower exporters rue strong Shilling
    21 may 2003 19:03:00
    Nairobi- Kenya (PANA) -- Flower exporters here suffered huge losses following last week's bullish run of the shilling against the US dollar, Kenya Flower Council (KFC) chairman Erastus Mureithi indicated Wednesday. Full text...

  • Mozambicans invited to invest in Sao Tome's oil sector
    21 may 2003 18:54:00
    Maputo- Mozambique (PANA) -- Visiting Sao Tome and Principe President Fradique de Menezes has invited Mozambican business people to take part in building an ever stronger economy in his country particularly in the emerging oil sector. Full text...

  • Tunisian telecom outfit anticipates rise in profits
    21 may 2003 18:29:00
    Djerba- Tunisia (PANA) -- Tunisia's telecommunications engineering firm Sotetel expects net profits to grow 5. Full text...

  • Wednesday's trading at Nigerian stock exchange
    21 may 2003 16:38:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) Wednesday exchanged 20. Full text...

  • Tunisia upgrades power output to 20 megawatts
    21 may 2003 16:30:00
    Tunis- Tunisia (PANA) -- The second and last phase of Tunisia's Hawaria power station has been completed to add 12 new turbines to the existing 32 that increased production capacity to 20 megawatts of electricity. Full text...

  • Ghana to host panel centre on airworthiness
    21 may 2003 16:15:00
    Accra- Ghana (PANA) -- Ghana has been selected as headquarters of the Airworthiness Panel Centre that will coordinate the promotion and implementation of aviation safety oversight across Africa. Full text...

  • Pretoria hosts Southern African confab on TICAD III
    21 may 2003 15:59:00
    Cape Town- South Africa (PANA) -- Ahead of the 3rd Tokyo International Conference on African Development (TICAD III), a sub-regional meeting opens Thursday in Pretoria to discuss the continent's priorities. Full text...

  • Trading stays upbeat at Nairobi stock exchange
    21 may 2003 15:40:00
    Nairobi- Kenya (PANA) -- Some 1. Full text...

  • Tunisia, Algeria, Morocco to integrate power markets
    21 may 2003 15:32:00
    Djerba- Tunisia (PANA) -- Sequel to a meeting in Anthens of Mediterranean and European Union (EU) Energy ministers, Tunisia, Algeria and Morocco are considering the integration of their electricity markets, EU sources affirmed Wednesday. Full text...

  • Inflation surges to nearly 270 percent in Zimbabwe
    21 may 2003 15:30:00
    Harare- Zimbabwe (PANA) -- Against the backdrop of tight food supplies, and sharp fuel price increases, annualised inflation in Zimbabwe soared 41. Full text...

  • Zimbabwe miner loses millions of dollars in power cut
    21 may 2003 14:08:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's biggest gold producing company said on Wednesday that it had lost millions of dollars in damaged equipment and lost production after the country's power utility cut off electricity over contested bills. Full text...

  • Zimbabwe bank buys UK financial services outfit
    21 may 2003 14:02:00
    Harare- Zimbabwe (PANA) -- One of Zimbabwe's biggest banks said on Wednesday that it was acquiring a controlling 63 percent stake in an unnamed British financial services company in the latest of a string of offshore investments by banks from the southern African country. Full text...

  • Kenya's small domestic market hampering its growth
    21 may 2003 09:25:00
    Nairobi- Kenya (PANA) -- Kenya's small domestic market is one of the constraining factors to the country's rapid economic growth, an official said here on Wednesday. Full text...

  • British business delegation tours Mauritius
    20 may 2003 23:22:00
    Port Louis- Mauritius (PANA) -- A delegation from the London Chamber of Commerce is on its second day of a four-day to prospect business opportunities in Mauritius, particularly in the financial services sector. Full text...

  • London Chamber of commerce explores Mauritian market
    20 may 2003 23:06:00
    Port-Louis- Maurice (PANA) -- A delegation of the London Chamber of Commerce (LCC) has arrived in Mauritius on a four-day visit to study the Mauritian market, mainly its financial services sector, officials said in Port-Louis Tuesday. Full text...

  • Japan grants two billion FCFA to Niger
    20 may 2003 22:51:00
    Niamey- Niger (PANA) -- The Japanese government Tuesday announced a grant of over two billion FCFA intended to serve as food aid support and debt reduction for Niger. Full text...

  • Terrorist threat inflicts financial toll on Kenya
    20 may 2003 21:15:00
    Nairobi- Kenya (PANA) -- Kenya has lost about $14. Full text...

  • African export bank shareholders meet in Lusaka Friday
    20 may 2003 20:57:00
    Lusaka- Zambia (PANA) -- The African Export-Import Bank (AFREXIMBANK) convenes its tenth shareholders' general meeting in the Zambian capital, Lusaka from 23-24 May, the bank's president Christopher Edordu said in a statement Tuesday. Full text...

  • Mozambican tourism to cash on African Union summit
    20 may 2003 20:37:00
    Maputo- Mozambique (PANA) -- Next July's summit of the African Union (AU) in Maputo is expected to generate US$ 12 million in tourism revenue, the Mozambican Tourism Minister Fernando Sumbana has predicted. Full text...

  • Donors study resumption of hydro dam in Sierra Leone
    20 may 2003 20:31:00
    Freetown- Sierra Leone (PANA) -- A high-powered delegation from the World Bank, African Development Bank and the Italian government is here to study means to complete the Bumbuna Hydro electric dam in Tonkolili district in northern Sierra Leone. Full text...

  • Appreciating shilling worries Kenyan tea farmers
    20 may 2003 20:09:00
    Nairobi- Kenya (PANA) -- Kenyan tea farmers feared an eminent collapse of tea processing factories as the local shilling currency continues to appreciate against the greenback, gaining as much as 12. Full text...

  • Iran gives Zimbabwe over US$ 14 million credit
    20 may 2003 20:08:00
    Harare- Zimbabwe (PANA) -- Iran Tuesday gave Zimbabwe a line of credit of ZWD12 billion (over US$ 14. Full text...

  • Malagasy records increased rice yield
    20 may 2003 19:32:00
    Saint-Denis- Reunion (PANA) -- Madagascar's rice production has markedly increased in the 2002-2003 farming season, noted speakers at the traditional ceremony to present the farming season results, dubbed "Santa Bary," press reports said Tuesday. Full text...

  • Islamic body to fund small companies in Mozambique
    20 may 2003 19:29:00
    Maputo- Mozambique (PANA) -- The Organization of the Islamic Conference (OIC) is prepared to support small and medium size companies in Mozambique through the Islamic Development Bank (IDB). Full text...

  • Mauritania hosts 13th River Senegal basin summit
    20 may 2003 19:12:00
    Nouakchott- Mauritania (PANA) -- Mauritanian President Maaouya ould Sid'Ahmed Taya on Tuesday urged member states of the Senegal River Basin Development Organisation (OMVS) to utilise the joint organ for the promotion of food self-sufficiency in the sub-region. Full text...

  • China, Sudan to invest $1 billion in Khartoum refinery
    20 may 2003 19:12:00
    Khartoum- Sudan (PANA) -- China National Petroleum Corp (CNPC) plans to invest one billion dollars jointly with Sudan to create the African country's largest oil refinery, the state-owned media reported Tuesday. Full text...

  • Botswana, Lesotho sign cooperation agreement
    20 may 2003 17:47:00
    Gaborone- Botswana (PANA) -- Botswana and Lesotho signed an agreement Tuesday setting up a joint permanent commission to deepen economic and technical cooperation between them. Full text...

  • Zambian kwacha plunges 20 units
    20 may 2003 17:17:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was on Tuesday down by 20 units after losing its footing at the Central Bank wholesale dealing window, but market players remained hopeful the local unit would strike an equilibrium before the end of the week. Full text...

  • Malian, Senegalese Presidents arrive in Nouakchott
    20 may 2003 16:06:00
    Nouakchott- Mauritania (PANA) -- President Amadou Toumani Toure of Mali and his Senegalese counterpart Abdoulaye Wade arrived in Nouakchott Tuesday morning for the 13th summit of the Senegal River Development Organisation (OMVS). Full text...

  • Kenya's central bank experiences stable money market
    20 may 2003 15:38:00
    Nairobi- Kenya (PANA) -- The domestic money market was fairly stable up 16 May, with banks transacting daily at average interest rates ranging between 6. Full text...

  • Turnover upbeat Tuesday at Kenya bourse
    20 may 2003 15:24:00
    Nairobi- Kenya (PANA) -- Turnover at the Nairobi Stock Exchange (NSE) rose Tuesday to Kshs 51 million on a volume of 1. Full text...

  • Nigerian agency pays 4.5b Naira liquidation dividends
    20 may 2003 15:17:00
    Ibadan- Nigeria (PANA) -- The Nigeria Deposit Insurance Corporation (NDIC) has paid 4. Full text...

  • Energy ministers meet to approve Nile Basin power plan
    20 may 2003 15:11:00
    Dar es Salaam- Tanzania (PANA) -- Ministers responsible for electricity generation in 10 Nile riparian countries are meeting in Dar es Salaam for the first time beginning Tuesday to approve an implementation plan for a regional power project to be based here. Full text...

  • Comoros not eligible for HIPC Initiative, say WB experts
    19 may 2003 21:22:00
    Moroni- Comoros (PANA) -- A mission of the World Bank (WB) in Comoros still insists that the country is not presently eligible for the debt reduction programme. Full text...

  • Biggest gold mine in Zimbabwe closes over power bills
    19 may 2003 20:26:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's biggest gold mine was forced to close Monday after the power company switched off electricity over an unpaid bill of $550,000. Full text...

  • Monday's trading at Nigerian Stock Exchange
    19 may 2003 15:40:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) traded 31. Full text...

  • OMVS ministerial council meets in Nouakchott
    19 may 2003 15:09:00
    Nouakchott- Mauritania (PANA) -- The ministerial council of the Senegal River Development Organisation (OMVS) is meeting here to prepare the 13th conference of Heads of State opening in the Mauritanian capital on Tuesday. Full text...

  • Nigeria joins International Association of deposit insurers
    19 may 2003 14:21:00
    Ibadan- Nigeria (PANA) -- Nigeria has joined the International Association of Deposit Insurers as part of strategic moves to enhance the operation of a deposit insurance scheme in the country, Nigeria Deposit Insurance Corporation (NDIC) CEO Ganiyu Ogunleye indicated Monday. Full text...

  • Nigeria's privatisation to cover $100b public sector investment
    19 may 2003 13:25:00
    Lagos- Nigeria (PANA) -- A total of 100 billion dollars in public sector investment will be transferred to the private sector through Nigeria's ongoing privatisation programme, according to Hassan Usman, a Deputy Director at the Bureau of Public Enterprises (BPE). Full text...

  • Ethiopian birr nosedives as US dollar weakens
    19 may 2003 13:19:00
    Addis Ababa- Ethiopia (PANA) -- The weakening US dollar is sending the shivers to small currency markets such as Ethiopia, whose money is pegged to the greenback. Full text...

  • Sudan, Syria discuss cooperation in industry, agriculture, oil
    19 may 2003 13:11:00
    Khartoum- Sudan (PANA) -- Sudan and Syria held discussions at the weekend in a joint meeting focusing on cooperation in the spheres of trade, agriculture and possibly the oil industry, the Sudanese News Agency (SUNA) reported Monday. Full text...

  • Mauritanian leader receives MEDEF delegation
    19 may 2003 12:48:00
    Nouakchott- Mauritania (PANA) -- Relations between Mauritanian and French private sectors were at the centre of discussions on Sunday in Nouakchott between President Maaouya Ould Sid'Ahmed Taya and a visiting delegation of the Movement of French Enterprises (MEDEF). Full text...

  • Nigeria contemplates 1,000 Naira note
    19 may 2003 12:24:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) is planning to introduce a 1,000 Naira bill as part of ongoing currency reform, the private Punch newspaper reported Monday, quoting bank spokesman Tony Ede. Full text...

  • Tanzania opens stock exchange to foreign participation
    19 may 2003 11:59:00
    Dar es Salaam- Tanzania (PANA) -- Business prospects at the Dar es Salaam Stock Exchange (DSE) are looking up after the government announced that it was throwing the fledgling bourse open to foreign participation effective Wednesday. Full text...

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