Economy -
  • South African Airways extends suspension of flights to Abidjan
    05 march 2003 13:48:00
    Johannesburg- South Africa (PANA) -- Continued unrest in Cote d'Ivoire has forced South African Airways (SAA) to extended the suspension of its flights to Abidjan until 31 May, the company announced here Wednesday. Full text...

  • Company readies to open Zimbabwe's biggest diamond mine
    05 march 2003 12:27:00
    Harare- Zimbabwe (PANA) -- Britain's multinational mining group Rio Tinto said Wednesday it would shortly open a $35 million diamond mine in Zimbabwe after successful feasibility studies. Full text...

  • Kenya seeks World Bank help toward economic reforms
    05 march 2003 12:06:00
    Nairobi- Kenya (PANA) -- The new Kenyan government would continue with economic reforms aimed to improve the lives of Kenyans through creating of jobs to eradicate poverty, foreign minister Kalonzo Musyoka affirmed to a top World Bank executive here Wednesday. Full text...

  • IDB loans Algeria $60 million for mobile phone project
    04 march 2003 22:15:00
    Algiers- Algeria (PANA) -- The Islamic Development Bank (IDB) has loaned Algeria 60 million US dollars to use in extending its mobile telephone network in the country. Full text...

  • Tunisian businessmen may invest in DR Congo
    04 march 2003 21:47:00
    Kinshasa- DR Congo (PANA) -- The Tunisian ambassador to the DR Congo, Azouz Ennifar, has declared in Kinshasa that Congo's forestry industry could be of interest to his country's investors. Full text...

  • Mauritania hosts fish products forum
    04 march 2003 20:34:00
    Nouakchott- Mauritania (PANA) -- Some 40 experts from several West African public and private administrations began on Monday in Nouakchott a forum on the development of fish products. Full text...

  • South African retail chain offers stock to Zambians
    04 march 2003 19:49:00
    Lusaka- Zambia (PANA) -- Shoprite Holdings Limited, a South African retail chain with branches in more than 13 African countries has offered shares on the Lusaka Stock Exchange, the enterprise indicated in a statement Tuesday. Full text...

  • Ghana, Canada sign MOU for budgetary support
    04 march 2003 19:44:00
    Accra- Ghana (PANA) -- Canada is to give Ghana five million Canadian dollars under a new multi-donor budget support mechanism, officials said in Accra Tuesday. Full text...

  • Malawi tobacco sales season postponed
    04 march 2003 16:57:00
    Blantyre- Malawi (PANA) -- The much-awaited opening of the 2003 tobacco market season was Tuesday postponed to 10 March due to what officials called non-availability of the product. Full text...

  • Kenya Central Bank governor quits over scandal
    04 march 2003 16:43:00
    Nairobi- Kenya (PANA) -- Governor Nahashon Nyagah of the Central Bank of Kenya resigned Tuesday as pressure mounted on the government to sack all state officials implicated in a $3. Full text...

  • Eight foreign fishing vessels arrested in Bissau
    04 march 2003 15:39:00
    Bissau- Guinea-Bissau (PANA) -- Guinea-Bissau's naval forces have arrested eight foreign boats illegally fishing in the country's exclusive maritime zone this week, it has been revealed here. Full text...

  • US agency supports Kenyan housing project
    04 march 2003 15:22:00
    Nairobi- Kenya (PANA) -- The Kenyan government and the US Overseas Private Investment Corporation (OPIC) Tuesday signed a deal in Nairobi for the building of some 150,000 houses per year in the East African country. Full text...

  • Kenya to diversify petroleum exports to neighbours
    04 march 2003 13:27:00
    Nairobi- Kenya (PANA) -- Kenya on Tuesday unveiled plans to increase its exports of petroleum products to neighbouring countries, particularly Uganda and the Democratic Republic of Congo (DRC). Full text...

  • OECD economist urges Africa to diversify economies
    04 march 2003 08:48:00
    Paris- France (PANA) -- An economist at the Organisation of Economic Cooperation and Development (OECD) has warned African countries to diversify their economies in order to cope with changing trends in foreign direct investments (FDIs). Full text...

  • DR Congo transitional Parliament adopts 2003 budget
    03 march 2003 23:40:00
    Kinshasa- DR Congo (PANA) -- The Transitional Parliament in DR Congo has adopted a financial bill that puts the country's 2003 budget at 361,231,805,742 Congolese francs (FC). Full text...

  • TotalFinaElf to invest a billion dollars in Algeria
    03 march 2003 22:10:00
    Algiers- Algeria (PANA) -- French oil group TotalFinaElf is considering investing more than a billion dollars in Algeria, board chairman Thierry Desmarest told a business forum Monday, on the sidelines of French President Jacques Chirac's visit to Algeria. Full text...

  • EAC contemplates combined power generation
    03 march 2003 20:48:00
    Dar es Salaam- Tanzania (PANA) -- The East African Community (EAC) Monday commissioned a 700,000-dollar study aimed at defining the least cost expansion programme for a combined power generation system within the three-member regional bloc. Full text...

  • Tunisian island to host World tourism conference
    03 march 2003 19:53:00
    Tunis- Tunisia (PANA) -- The World Tourism Organisation (WTO) has announced an international conference on climate change and tourism for 10 and 11 April in the Tunisian island of Djerba, 500 km south east of Tunis. Full text...

  • Ghana Combank gains, but market slumps
    03 march 2003 18:51:00
    Accra- Ghana (PANA) -- Stocks performed poorly on the Accra bourse on Monday, with only one gainer and a meagre 18,700 shares changing hands but the main market index made an impressive gain on the back of blue chip Ghana Commercial Bank (GCB). Full text...

  • Abidjan bourse opens week stable
    03 march 2003 18:44:00
    Dakar- Senegal (PANA) -- The Abidjan-based West African Stock Exchange (BRVM) closed trading Monday with the All-Share index stable at 73. Full text...

  • NSE daily equities trading
    03 march 2003 17:55:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) Monday traded 16. Full text...

  • Ivorian economy to register negative growth in 2003
    03 march 2003 17:18:00
    Paris- France (PANA) -- Cote d'Ivoire faces bleak economic prospects during the 2002/2003 financial year due to the ongoing politico-military crisis, says the Organization of Economic Cooperation and Development (OECD) and the African Development Bank (ADB) in a report issued here Monday. Full text...

  • Nigeria's external reserves declines December 2002
    03 march 2003 15:11:00
    Lagos- Nigeria (PANA) -- Nigeria's external reserves stood at US$7. Full text...

  • Gasoline scarcity eases in Lagos
    03 march 2003 14:10:00
    Lagos- Nigeria (PANA) -- The fuel scarcity that hit Nigeria's major cities in the past two weeks has eased up considerably in the commercial city of Lagos, but the shortage persists in the political capital of Abuja and other cities. Full text...

  • Kenyan tax revenue chief quits over bank scandal
    03 march 2003 14:05:00
    Nairobi- Kenya (PANA) -- Kenya Revenue Authority Commissioner General John Munge resigned Monday as pressure mounted on President Mwai Kibaki to sack all government officials implicated in a US$3. Full text...

  • Nigeria's crude oil production increases
    03 march 2003 13:47:00
    Lagos- Nigeria (PANA) -- Nigeria's crude oil production, including condensates, increased by 0. Full text...

  • NSE weekly equities transactions
    02 march 2003 18:25:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) last week traded some 165. Full text...

  • US business officials happy with Kenya's investment environment
    02 march 2003 18:15:00
    Nairobi- Kenya (PANA) -- Two visiting officials of the US Overseas Private Investment Corporation (OPIC) Sunday commended Kenya's new administration for restoring investor-confidence by creating an enabling environment for business in the country. Full text...

  • Nigeria's external debt falls by 3.7 million dollars
    02 march 2003 15:22:00
    Lagos- Nigeria (PANA) -- About 3. Full text...

  • Nigerian currency appreciates against the dollar
    02 march 2003 15:17:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira appreciated against the US dollar at the last session of the official Dutch Auction System (DAS) of foreign exchange allocation held last week, closing at 127. Full text...

  • Transactions upbeat in Nigerian govt securities
    02 march 2003 14:55:00
    Lagos- Nigeria (PANA) -- Transactions in Nigerian government securities were upbeat this week, as a total of 68. Full text...

  • Nigerian Central Bank revokes licence of merchant bank
    02 march 2003 13:51:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) has announced the revocation of the operational licence of Peak Merchant Bank, one of the old generation banks in the country. Full text...

  • Kenyan exporters upbeat on camel shipments to Saudi Arabia
    02 march 2003 12:03:00
    Mombasa- Kenya (PANA) -- Analysts citing last year's figures say Kenya exported up to 4,000 camels to the Middle East in what was steadily becoming the country's major export to Arab countries. Full text...

  • Britons invest heavily in Zimbabwe despite frosty ties
    02 march 2003 10:50:00
    Harare- Zimbabwe (PANA) -- A survey conducted by the British Broadcasting Corporation (BBC) shows that despite frosty ties with Zimbabwe over Harare's land policies, British companies were still heavily investing in the southern African country, which London castigates as a rogue state. Full text...

  • Ouagadougou to host meeting on NEPAD
    01 march 2003 10:29:00
    Paris- France (PANA) -- Civil societies will closely monitor the 5-7 March meeting on the New Partnership for Africa's Development (NEPAD) in Ouagadougou, as it will mark an important step in the continent's development process, the chair of NGO SOPEL International, Amath Soumare, said here Friday. Full text...

  • South Africa and Angola agree to strengthen ties
    01 march 2003 09:26:00
    Cape Town- South Africa (PANA) -- South Africa and Angola on Friday agreed to strengthen co-operation in various sectors ranging from safety and security and customs to mining, energy and agriculture. Full text...

  • Gambia-based Sierra Leoneans want exemption from new tax
    28 february 2003 20:46:00
    Banjul- Gambia (PANA) -- Sierra Leoneans residing in Gambia have requested their High Commissioner to Banjul to initiate dialogue with Gambian authorities for an exemption from the new tax regime that takes effect Saturday. Full text...

  • ADB officially informs Tunisian premier of relocation
    28 february 2003 20:26:00
    Tunis- Tunisia (PANA) -- President Omar Kabbaj of the African Development Bank (ADB) on Friday informed Tunisian Prime Minister Mohamed Ghannouchi about the relocation of the institution in Tunis, the Tunisian News Agency (TAP) reported. Full text...

  • Ivorian Mango producers expect 7-billion FCFA loss
    28 february 2003 19:30:00
    Abidjan- Cote d'Ivoire (PANA) -- Cote d'Ivoire's ongoing political-military crisis is expected to cause a loss of about 7 billion FCFA in the mango sector (about 11. Full text...

  • Muluzi yearns for pipeline from Nacala to Malawi
    28 february 2003 19:05:00
    Nacala- Mozambique (PANA) -- President Bakili Muluzi said one major priority for Malawi within the context of the Nacala Development Corridor was to seek support for building a pipeline from the northern Mozambican port of Nacala to Lilongwe. Full text...

  • Investors promise to invest in Mozambican port, railway
    28 february 2003 18:34:00
    Nacala- Mozambique (PANA) -- Private investors signed a memorandum of understanding here Friday under which they promised to invest 27 million US dollars in upgrading the northern Mozambican port city of Nacala as well as the Nacala-Malawi railway. Full text...

  • Nigeria names panel to probe fuel crisis
    28 february 2003 17:49:00
    Abuja- Nigeria (PANA) -- Nigeria's federal government Friday named an administrative panel of inquiry into the crippling fuel shortage in the oil-rich country. Full text...

  • Mali to host African cotton group seminar
    28 february 2003 17:39:00
    Bamako- Mali (PANA) -- The African Cotton Association (ACA), made up of Africa's main cotton companies, will on Monday in Bamako meet in its first international seminar, press reports said Friday in the Malian capital Under the aegis of the Malian agriculture, farming and fishery ministry, the daylong seminar will be an opportunity for investors in the cotton industry to discuss problems facing the sector. Full text...

  • NSE daily equities trading
    28 february 2003 17:22:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) Friday traded 84. Full text...

  • US helping Zambia to fight corruption
    28 february 2003 16:13:00
    Lusaka- Zambia (PANA) -- The US is helping Zambia to strengthen its fight against corruption, Washington's Ambassador Martin Brennan said in Lusaka Friday. Full text...

  • BCEAO reserves down to US$3.5 billion
    28 february 2003 14:35:00
    Paris- France (PANA) -- The exchange reserves of the Central Bank of West African States (BCEAO) fell to US$3. Full text...

  • Scale of corruption alarms Swazi Finance Minister
    28 february 2003 09:35:00
    Lobamba- Swaziland (PANA) -- Finance Minister Majozi Sithole has expressed alarm at the scale of fraud in both the public and private sectors in Swaziland, saying the Ministry of Justice and Constitutional Affairs is set to probe corruption across the tiny southern African kingdom. Full text...

  • EU ratifies Cotonou Agreement on partnership with ACP
    28 february 2003 08:48:00
    Dakar- Senegal (PANA) -- The EU Council has deposited the instruments of ratification for the new partnership agreement between the European Union and the African, Caribbean and Pacific (ACP) group, an ACP release indicated Thursday, saying the move paves the way for agreement to come into force. Full text...

  • Ghana to reduce reliance on domestic finance, donor inflows
    27 february 2003 22:11:00
    Accra- Ghana (PANA) -- Finance Minister Yaw Osafo-Maafo on Thursday said Ghana's budget for fiscal 2003 aims at reducing the reliance on net domestic financing and minimising the dependence on donor inflows. Full text...

  • 700 trepang fishermen ask Malagasy govt to scrap ban
    27 february 2003 20:37:00
    Mahajanga- Madagascar (PANA) -- About 700 divers from the Malagasy north-west coastal region of Mahajanga Thursday complained that a government decision to regulate fishing and fish farming by banning the use of breathing equipment has left them without employment. Full text...

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