Economy -
  • Zambian kwacha remains steady against the US dollar
    13 october 2003 13:35:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha on Monday remained stuck at 4,740 to the greenback for the third consecutive day of trading, mainly because of muted activity in the foreign exchange market. Full text...

  • British tourism investors visit Mauritania
    13 october 2003 13:20:00
    Nouakchott- Mauritania (PANA) -- British entrepreneurs specialised in tourism from 15 firms are currently touring Mauritania, an official source disclosed here Monday. Full text...

  • WHO urges access to potable water in Equatorial Guinea
    13 october 2003 12:51:00
    Malabo- Equatorial Guinea (PANA) -- The World Health Organisation (WHO) has called for easy access to safe drinking water for the rural population of Equatorial Guinea, according to a report issued here Monday. Full text...

  • China to finance construction of Gabonese Senate
    13 october 2003 12:28:00
    Libreville- Gabon (PANA) -- China has agreed to finance the construction of Gabon's Senate building to the tune of 20 billion FCFA (about $34. Full text...

  • India, Sudan to discuss oil investments
    13 october 2003 09:59:00
    Khartoum- Sudan (PANA) -- Indian President APJ Abdul Kalam is slated to pay a three-day visit to Sudan beginning 20 October aimed at strengthening bilateral ties, a foreign ministry official said here Monday. Full text...

  • Johannesburg Airport voted best in Africa
    13 october 2003 08:58:00
    Johannesburg- South Africa (PANA) -- South Africa's Johannesburg International Airport (JIA) has been voted the best in Africa by travellers from around the world. Full text...

  • UNIDO mission due in Abidjan Monday
    12 october 2003 16:19:00
    Abidjan- Côte d'Ivoire (PANA) -- Experts from the UN Industrial Development Organisation (UNIDO) will 13-18 October hold working sessions with the Ivorian ministry of Industry and Private Sector Development within the framework of a post-conflict reform programme, official sources indicated here. Full text...

  • S. Africa's Vodacom to open talks on Nigerian acquisition
    12 october 2003 15:15:00
    Lagos- Nigeria (PANA) -- South African Telecommunications giant Vodacom is to start preliminary talks with the First Bank of Nigeria this week in a bid to acquire 51 percent stake in Econet Wireless Nigeria, the second largest GSM operator in the country. Full text...

  • 22 African nations get debt relief, says UN report
    12 october 2003 14:19:00
    New York- UN (PANA) -- Some 32. Full text...

  • Gabon, Thailand to boost trade cooperation
    12 october 2003 11:09:00
    Libreville- Gabon (PANA) -- The Gabonese and Thai governments have agreed to increase their trade, in addition to promoting Thai private investment in Gabon, sources close to the Gabonese foreign ministry have said. Full text...

  • Algerian banking system to be modernised
    12 october 2003 10:14:00
    Paris- France (PANA) -- Algeria's political decision-makers and monetary authorities plan to launch a huge programme intended to modernise the country's banking system, the deputy manager in charge of operations of Credit Populaire d'Algerie (CPA) has said. Full text...

  • COMESA moves to protect its farmers
    12 october 2003 09:26:00
    Nairobi- Kenya (PANA) -- In a fresh bid to cushion African farmers from unfair competition, trade and finance, experts from 20 COMESA-member states began negotiations on a Common External Tariff (CET) in Nairobi over the weekend The participants, mainly drawn from departments of external trade and regional integration organisations from the various member states of the Common Market for Eastern and Southern Africa (COMESA), are working out a list of commodities which will be eligible for special and differential treatment under the new CET. Full text...

  • Nigerian bourse in bearish weekly trading
    11 october 2003 20:00:00
    Lagos- Nigeria (PANA) -- Nigerian Stock Exchange (NSE) was bearish this week with a turnover of 225. Full text...

  • South African contractor dumps Mozambican road project
    11 october 2003 18:43:00
    Maputo- Mozambique (PANA) -- The South African contractor Basil Read has unilaterally rescinded its contract with the Mozambican authorities for the rehabilitation of the main road between Manica and Tete provinces in the centre of the country. Full text...

  • Fuel shortage persists in Nigeria
    11 october 2003 16:28:00
    Lagos- Nigeria (PANA) -- An acute shortage of fuel prevails in throughout Nigeria three days after the suspension of the planned nation-wide strike aimed at protesting higher pump prices announced recently. Full text...

  • Nigerian currency depreciates against US dollar
    11 october 2003 15:51:00
    Lagos- Nigeria (PANA) -- Nigeria's local currency, the Naira, depreciated by 0. Full text...

  • African, Nordic ministers to discuss NEPAD soon
    11 october 2003 13:45:00
    Maputo- Mozambique (PANA) -- Foreign ministers of ten 10 African and Nordic countries plan to meet this month in Mozambique's northern province of Cabo Delgado to discuss mechanisms likely to boost the New Partnership for Africa's Development (NEPAD). Full text...

  • Kibaki woos British investors to Kenya
    11 october 2003 11:23:00
    Nairobi- Kenya (PANA) -- Kenyan President Mwai Kibaki Saturday urged British investors to turn to Kenya saying the country enjoyed political stability, strategic location and easy market access to the Eastern and southern Africa region. Full text...

  • Virgin Atlantic Airways begins Cape Town-London service
    11 october 2003 11:08:00
    Cape Town- South Africa (PANA) -- Virgin Atlantic Airways has announced the launch of its year-round direct service between Cape Town International Airport and London Heathrow, in addition to its existing daily service to and from Johannesburg. Full text...

  • Transaction in Nigerian govt securities upbeat
    11 october 2003 09:32:00
    Lagos- Nigeria (PANA) -- A total of 99. Full text...

  • Minister reveals plan to privatise Algiers airport
    10 october 2003 21:15:00
    Paris- France (PANA) -- Algerian Minister for Participation And Investment Promotion Karim Djoudi revealed here Friday that the governments plans to entrust the management of Houari Boumédienne airport in Algiers to the private sector. Full text...

  • Ghana, Libya restore trade and economic ties
    10 october 2003 19:16:00
    Accra- Ghana (PANA) -- Ghana and Libya on Friday restored their Permanent Joint Commission for Cooperation (JCC) meetings with a fresh commitment to lay the framework for effective trade and economic ties. Full text...

  • Stock market recovers from midweek stumble
    10 october 2003 19:10:00
    Accra- Ghana (PANA) -- The main index of the Ghana Stock Exchange (GSE) recovered from a mid-week stumble when it gained 22. Full text...

  • Nigerian bourse ends week high
    10 october 2003 17:29:00
    Lagos- Nigeria (PANA) -- some 42. Full text...

  • Belgium grants over $7 million in aid to Burundi
    10 october 2003 17:07:00
    Bujumbura- Burundi (PANA) -- Belgium has granted Burundi financial aid worth more than 7 million dollars to alleviate socio-economic problems facing the war-ravished country. Full text...

  • Mbeki wants S. Africa gold mines explain retrenchments
    10 october 2003 16:33:00
    Johannesburg- South Africa (PANA) -- As the South African currency, the Rand, continues to appreciate, President Thabo Mbeki Friday challenged local gold mining companies to "explain more clearly and convincingly why the stronger rand obliges them to retrench workers. Full text...

  • US signs $3.2 million grant agreements with Ethiopia
    10 october 2003 14:38:00
    Addis Ababa- Ethiopia (PANA) -- The United States and Ethiopia Friday signed grant agreements totalling over 3. Full text...

  • Congolese experts mull over money laundering bill
    10 october 2003 14:08:00
    Kinshasa- DR Congo (PANA) -- Financial experts in DR Congo are brainstorming on a draft bill against money laundering and financing of terrorism at a round table organised by the Central Bank of Congo (BCC), banking sources said here Friday. Full text...

  • Ghana Central Bank workers strike
    10 october 2003 13:06:00
    Accra- Ghana (PANA) -- Central Bank workers in Ghana began an industrial action Friday to push for better working conditions and a pay raise. Full text...

  • Zimbabwe firm sets up in Botswana
    10 october 2003 12:52:00
    Harare- Zimbabwe (PANA) -- A Zimbabwean insurance company said Friday it was opening a subsidiary in neighbouring Botswana, the latest in an exodus of local companies escaping Zimbabwe's deepening economic crisis. Full text...

  • ECA organises 'Big Table' session for African ministers
    10 october 2003 09:40:00
    Addis Ababa- Ethiopia (PANA) -- A high-level forum dubbed 'Big Table Special Session' that brings together several African Finance as well as Economic Development and Planning ministers is due to take place in Washington DC on 28 October for informal dialogue on critical development themes of concern to Africa, Economic Commission for Africa (ECA) Executive Secretary Kingsley Amoako disclosed Friday. Full text...

  • Mali authorities uncover 1,925 fake civil servants
    10 october 2003 08:25:00
    Bamako- Mali (PANA) -- In a census conducted last 22 January to 28 February 2003, the Public Service ministry in Mali detected 1,925 fake civil servants, official sources indicated here Thursday. Full text...

  • Belgium grants 13 million Euros to Rwanda
    09 october 2003 22:13:00
    Kigali- Rwanda (PANA) -- Belgium has granted 13 million Euros as additional aid to Rwanda to finance four health and educational projects, official sources said in Kigali. Full text...

  • Kenyan lawyer sees hitches in Africa's economic integration
    09 october 2003 21:06:00
    Nairobi- Kenya (PANA) -- As Africa prepares for massive economic integration and the establishment of a common market, a top Kenyan legal official warned there would be a sudden increase in cases for hearing at the COMESA Court of Justice. Full text...

  • SACU ministers want WTO negotiations resumed
    09 october 2003 16:19:00
    Pretoria- South Africa (PANA) -- Ministers of Finance, Trade and Industry from the Southern African Customs Union (SACU) have stressed the need to resume the World Trade Organisation (WTO) negotiations that failed in Cancun, Mexico last September. Full text...

  • African bank group, Norway sign cooperation accord
    09 october 2003 11:58:00
    Dakar- Senegal (PANA) -- The Boards of Directors of the African Development Bank (ADB) and the African Development Fund (ADF) have approved a Technical Cooperation Agreement with the Norwegian Agency for Development Cooperation (NORAD). Full text...

  • Oil workers strike disrupts fuel supply in Madagascar
    09 october 2003 11:41:00
    Antananarivo- Madagascar (PANA) -- An indefinite strike called by the Toamasina refinery staff and the Association of Employees of the Oil Sector (APSPM) has disrupted fuel distribution in Antananarivo, creating long queues at filling stations Thursday. Full text...

  • ADF approves $21.4 million for road project in Rwanda
    09 october 2003 11:25:00
    Dakar- Senegal (PANA) -- The African Development Fund (ADF) has approved a total of 21. Full text...

  • Zimbabwe gets Chinese loan to finance agriculture
    09 october 2003 11:05:00
    Harare- Zimbabwe (PANA) -- China said Thursday it would give Zimbabwe 2 million US dollars to finance imports of farming inputs. Full text...

  • Ethiopia gets ADF $3.3 million grant for livestock study
    09 october 2003 11:05:00
    Dakar- Senegal (PANA) -- The African Development Fund (ADF) has approved a grant of 3. Full text...

  • EDF resources for ACP group to join EU general budget
    08 october 2003 22:20:00
    Brussels- Belgium (PANA) -- Resources of the European Development Fund (EDF), the main financial instrument of the Cotonou Accord binding the 15 EU members to 78 African, Caribbean and Pacific (ACP) countries, will be integrated in the general budget of the European Union (EU) beginning 2006, EU officials revealed here Wednesday. Full text...

  • Madagascar plans creating National Gemmology Institute
    08 october 2003 20:04:00
    Antananarivo- Madagascar (PANA) -- With the support of the World Bank and USAID, the Malagasy government plans to create a National Gemmology Institute in order to adequately implement the Governance Project on Mineral Resources (PGRM), official sources confirmed here Wednesday. Full text...

  • South African company buy-in splits Nigeria's ECONET
    08 october 2003 18:57:00
    Lagos- Nigeria (PANA) -- The Management of Econet Wireless International (EWI) has vowed to resist a buy-in deal being worked out to let Vodacom of South Africa acquire 51 percent stake in Econet Wireless Nigeria, the second largest GSM provider in Nigeria. Full text...

  • Germany gives Ghana 31 million Euro loan
    08 october 2003 18:34:00
    Accra- Ghana (PANA) -- Ghana will get a concessionary loan of 31 million Euros from Germany to finance six priority projects, under an agreement signed by the two countries in Accra on Wednesday. Full text...

  • Mauritius industrial free zone posts negative growth
    08 october 2003 17:57:00
    Port-Louis- Mauritius (PANA) -- The Industrial Free Zone in Mauritius suffered a negative growth rate of -4. Full text...

  • ECOWAS sets up committee for APE talks
    08 october 2003 17:38:00
    Cotonou- Benin (PANA) -- The Economic Community of West African States (ECOWAS) has set up a regional committee to lead discussions on the Economic Partnership Accords (APE) with the European Union, official sources disclosed here Wednesday. Full text...

  • Big bank loss compromises trading at Ghana Stock Exchange
    08 october 2003 17:24:00
    Accra- Ghana (PANA) -- A big loss by blue chip Ghana Commercial Bank, which has been reeling under the weight of poor first-half results saw the main index of the Ghana Stock Exchange (GSE) tumble Wednesday in mixed trading. Full text...

  • Kenya rues US travel advisory
    08 october 2003 17:10:00
    Nairobi- Kenya (PANA) -- The Kenya government Wednesday regretted Washington's refusal to review an advisory cautioning US citizens against travelling to the East African nation despite what Nairobi insists are "adequate" security measures. Full text...

  • EAC launches online discussion on private sector development
    08 october 2003 16:08:00
    Nairobi- Kenya (PANA) -- The East African Community (EAC) launched an online discussion forum (ODF) Wednesday, with secretary general Amanya Mushega explaining that stakeholders would share views on the final draft of the East African Private Sector Development Strategy. Full text...

  • Ethiopian companies to hold trade exhibits in Kenya
    08 october 2003 15:26:00
    Nairobi- Kenya (PANA) -- Ethiopia on Wednesday launched the Ethio- Kenya trade fair here as part of efforts to enhance bilateral relations with its northern neighbour, officials have affirmed. Full text...

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