Economy -
  • Algeria targets one million internet subscribers in four years
    01 june 2004 18:38:00
    Algiers- Algeria (PANA) -- Algeria plans to achieve one million internet subscribers in the next four years, according to Posts and Communications Minister Amar Tou. Full text...

  • COMESA braces for expanded EU trade battle
    01 june 2004 18:18:00
    Kampala- Uganda (PANA) -- The recent expansion of the European Union by 10 countries poses stiff competition for developing countries, a trade threat the Common Market for East and Central Africa (COMESA) must guide against, an official of the regional economic bloc warned here Tuesday. Full text...

  • Arab Bank to finance Mozambique's road sector
    01 june 2004 18:13:00
    Maputo- Mozambique (PANA) -- The Arab Bank for Development in Africa (BADEA) is to contribute 10. Full text...

  • Air Zimbabwe increases flights to London
    01 june 2004 17:59:00
    Harare- Zimbabwe (PANA) -- Air Zimbabwe said Tuesday it was increasing flights to London this month and next month because demand had risen on the route. Full text...

  • Morocco, France get Steering Council on co-operation
    01 june 2004 17:53:00
    Rabat- Morocco (PANA) -- Morocco and France have set up a Steering Council to strengthen their bilateral co-operation. Full text...

  • Malawi Central Bank Reduces Borrowing Rate
    01 june 2004 16:49:00
    Blantyre- Malawi (PANA) -- The Reserve Bank of Malawi, the country's apex bank, has slashed the bank rate from 35 to 25 percent effective Tuesday. Full text...

  • Outgoing US envoy explains low foreign investment in Nigeria
    01 june 2004 16:17:00
    Lagos- Nigeria (PANA) -- Outgoing US Consul-General in Nigeria, Robyn Hinson-Jones has listed corruption and ethno-religious conflicts as major problems hindering the inflow of foreign investments into Nigeria. Full text...

  • Funding for Mauritian business community in Mozambique
    01 june 2004 16:08:00
    Port-Louis- Mauritius (PANA) -- Mauritian Prime minister Paul Berenger has revealed plans to create a regional fund to support Mauritian entrepreneurs investing in Mozambique, official sources have said here. Full text...

  • COMESA trade growth up 15 percent
    01 june 2004 15:46:00
    Kampala- Uganda (PANA) -- Regional trade in the Common Markets for East and Southern Africa (COMESA) increased by 15 percent to US$5. Full text...

  • Morocco's energy consumption up 4%
    01 june 2004 15:24:00
    Rabat- Morocco (PANA) -- Energy consumption in Morocco went up four percent from 10. Full text...

  • S. Africa telecoms giant to aid ex-Nigerian partner
    01 june 2004 13:37:00
    Lagos- Nigeria (PANA) -- South African telecommunications giant, Vodacom, has promised to continue technical support to Econet Wireless Nigeria (EWN) for the next six months, in spite of the termination of a management agreement, the companies said in a joint statement issued here. Full text...

  • Mbeki, Chissano to inaugurate gas project in Mozambique
    01 june 2004 12:05:00
    Johannesburg- South Africa (PANA) -- South African President Thabo Mbeki left Tuesday for Mozambique where he will together with President Joachim Chissano inaugurate a Natural Gas Project in Vilankulos, Mozambique. Full text...

  • Gabon's oil production up in 2003
    01 june 2004 10:01:00
    Libreville- Gabon (PANA) -- Gabon's oil production, which had been declining for more than five years reached 13. Full text...

  • Nigeria's refinery fails to start operation
    01 june 2004 09:50:00
    Lagos- Nigeria (PANA) -- Technical hitches stalled the planned relaunch on Monday of the Warri Refining and Petrochemical Company (WRPC), one of Nigeria's four refineries that had been shut down for almost two years for maintenance, local press accounts affirmed Tuesday. Full text...

  • Tunisia, Syria discuss tourism opportunities
    01 june 2004 08:00:00
    Tunis- Tunisia (PANA) -- Tourism and travel representatives from Tunisia and Syria acknowledged the importance Monday, of bilateral and inter-Arab cooperation with a view to encouraging tourism among Arab countries, the Syrian news agency (SANA) indicated in Damascus. Full text...

  • Rwanda chairs next AU conference on trade
    31 may 2004 19:08:00
    Kigali- Rwanda (PANA) -- Rwanda was elected chair at the second conference of trade ministers, customs offices, and immigration services that here Friday in Kigali, succeeding Mauritius. Full text...

  • Mbeki, Chissano to launch natural gas project
    31 may 2004 17:07:00
    Johannesburg- South Africa (PANA) -- Presidents Thabo Mbeki of South African and Joaquim Chissano of Mozambique will on Tuesday launch the Mozambican Natural Gas project, a venture between Sasol and the Republics of South Africa and Mozambique. Full text...

  • Ghana bourse in quiet trading
    31 may 2004 16:59:00
    Accra- Ghana (PANA) -- The Accra bourse recorded a slight gain in quiet trading on Monday on the back of breweries that saw a meagre 74,100 shares changing hands. Full text...

  • US agency funds study of Algiers port extension
    31 may 2004 14:52:00
    Algiers- Algeria (PANA) -- The US Trade and Development Agency (USTDA) and the Port of Algiers Sunday signed a grant agreement for US$610,655 to finance the second phase feasibility study of the port's development project. Full text...

  • South African telecoms giant ditches Nigerian partner
    31 may 2004 12:45:00
    Lagos- Nigeria (PANA) -- South Africa's telecommunications giant, Vodacom, has pulled out of a management contract with Econet Nigeria, the country's second largest GSM operator, barely two months after the agreement was signed. Full text...

  • Uganda inflation rises to 1.4 percent - Report
    31 may 2004 11:17:00
    Kampala- Uganda (PANA) -- Uganda inflation rate now stands at 1. Full text...

  • China, Gabon sign accords on mining, oil
    30 may 2004 20:06:00
    Libreville- Gabon (PANA) -- Gabon and China have signed a framework agreement to govern cooperation between the two countries in the mining and oil sectors. Full text...

  • French firm blacklists Mauritanian importers
    30 may 2004 17:18:00
    Nouakchott- Mauritania (PANA) -- A French insurance company, COFACE, has listed about 20 Mauritanian importers to be arrested in France for "breach of trust and fraud", the Mauritanian weekly L'Authentique reported Saturday, quoting a report from the firm. Full text...

  • EU grants Cote d'Ivoire 8.9 billion FCFA
    30 may 2004 11:04:00
    Abidjan- Cote d'Ivoire (PANA) -- The European Union (EU) has granted Cote d'Ivoire 8. Full text...

  • Netherlands freezes budget aid to Cape Verde
    30 may 2004 10:31:00
    Praia- Cap-Verde (PANA) -- Holland has suspended a 6. Full text...

  • Maputo summit to spur economic reforms in Africa
    29 may 2004 16:20:00
    Maputo- Mozambique (PANA) -- The 2-4 June African Economic Summit in Maputo "will be an opportunity to speed up the pace of economic and business reform which is holding back the potential of many African economies," organisers, the Geneva-based World Economic Forum, has said. Full text...

  • Kenyan tea production surges by 29.5 percent
    29 may 2004 16:10:00
    Nairobi- Kenya (PANA) -- Kenya's tea production shot up by 29. Full text...

  • Nigerian bourse in robust weekly trade
    29 may 2004 16:01:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) recorded upbeat trading this week with some 502. Full text...

  • Transaction in Nigerian govt securities upbeat
    29 may 2004 15:34:00
    Lagos- Nigeria (PANA) -- Transaction in Nigerian government securities was on the upswing this week as a total of 61. Full text...

  • Demand for forex drops in Nigeria
    29 may 2004 15:34:00
    Lagos- Nigeria (PANA) -- Demand for foreign exchange dropped at the official Dutch Auction System (DAS) segment of Nigeria's foreign exchange market this week with 231. Full text...

  • Obasanjo sees external debt as weapon of intimidation
    29 may 2004 14:01:00
    Lagos- Nigeria (PANA) -- Nigerian President Olusegun Obasanjo Saturday made his most passionate plea to date for the cancellation of his oil-producing country's external debt of 32 billion US dollars, describing debt as a means of "intimidation and control" by Western creditors. Full text...

  • Sudan seeks Pakistani investment
    29 may 2004 13:46:00
    Khartoum- Sudan (PANA) -- Sudanese ambassador to Pakistan Awad Mohammed el-Hassan has urged Pakistani firms to invest in the east African country and boost the volume of their bilateral trade currently estimated at 23 million US dollars. Full text...

  • Cape Verde leads Portuguese-speaking Africa in economic growth
    29 may 2004 13:14:00
    Praia- Cape Verde (PANA) -- Cape Verde leads the other four Portuguese-speaking African countries (PALOP), in steady economic growth in the past two decades, according to the UN Conference on Trade and Development (UNCTAD). Full text...

  • 650 to attend this year's debt relief forum in Mali
    28 may 2004 22:37:00
    Bamako- Mali (PANA) -- About 650 delegates from Africa, Europe and America are on roll for this year's People's Forum, an annual debt relief gathering billed for 6-10 June in the Malian town of Kita, 180 km south of Bamako. Full text...

  • Nigerian refinery to resume production after one-year shutdown
    28 may 2004 19:45:00
    Abuja- Nigeria (PANA) -- One of Nigeria's four refineries is set to resume operations Monday after a year-long shutdown for turn-around maintenance, according to Funsho Kupolokun, Group Managing Director of State-run Nigerian National Petroleum Corporation (NNPC), He told journalists in Abuja Friday the 125,000 barrels per day Warri Refinery and Petrochemicals Company (WRPC) would operate at full capacity after the rehabilitation of its Crude Distillation Unit (CDU) and the Fluid Catalytic Cracking Unit (FCCU). Full text...

  • Mozambican sugar production set to rise by 20 percent
    28 may 2004 17:01:00
    Maputo- Mozambique (PANA) -- Mozambique is expecting to produce 254,000 tonnes of sugar this year, a 20 percent increase over the 212,000 tonnes produced last year in the country. Full text...

  • Kenyan leader sets up anti-corruption body
    28 may 2004 16:02:00
    Nairobi- Kenya (PANA) -- Kenyan President Mwai Kibaki Friday established a National Anti-Corruption Campaign Steering Committee to spearhead a nation-wide campaign against corruption for years to come. Full text...

  • 24 African nations at privatisation summit in Nigeria
    28 may 2004 14:50:00
    Lagos- Nigeria (PANA) -- Some 24 African countries are to participate in a business summit and fair slated for the Nigerian capital of Abuja from 1 to 5 June, Julius Bala, Director-General of Nigeria's Bureau of Public Enterprises (BPE), has said. Full text...

  • Nigeria spends $35 billion to service external debt
    28 may 2004 14:43:00
    Lagos- Nigeria (PANA) -- Nigeria has spent a cumulative amount of 35 billion US dollars to service its external debt estimated at 32 billion US dollars as at the end of 2003, according to the Director-General of the country's Debt Management Office (DMO), Mansur Muhtar. Full text...

  • Economists to scrutinise growth prospects in Africa
    28 may 2004 14:33:00
    Nairobi- Kenya (PANA) -- African economists are expected to convene her Saturday to brainstorm on the prospects economic development in Africa with the impact of female labour participation on household incomes, tax policies and public expenditure taking centre stage, organisers said Friday. Full text...

  • Mauritius wants to enhance free zone's image among locals
    28 may 2004 11:45:00
    Port Louis- Mauritius (PANA) -- Mauritian Labour, Industrial Relations and Employment Minister Showkutally Soodhun has appealed for the improvement of the image of the country's free zone, particularly the textile sector, in order to entice more local workers into the sector. Full text...

  • UEMOA slates regional sectoral meetings
    28 may 2004 11:30:00
    Ouagadougou- Burkina Faso (PANA) -- The West African Economic and Monetary Union (UEMOA) will 1-5 June hold a series of sectoral meetings of ministers and experts to conclude trade and investment agreements with third parties. Full text...

  • Kenyan economic growth rate to hit 3.0 percent
    28 may 2004 10:32:00
    Nairobi- Kenya (PANA) -- Kenya's economy is expected to grow by 3. Full text...

  • Niger pushes for more debt cancellation
    27 may 2004 22:42:00
    Niamey- Niger (PANA) -- Notwithstanding the cancellation early May of its 152-million dollar debt at the Paris Club, Niger would continue to push for debt forgiveness at a global level as recommended by the World Bank and IMF, Finance and Economy minister Lamine Zène indicated here Thursday. Full text...

  • Kenya takes stock of tourism promotion plan
    27 may 2004 21:39:00
    Nairobi- Kenya (PANA) -- Kenyan tourism agents based in Europe are to meet here next week with officials of the Kenya Tourist Board (KTB) to assess the country's Tourism Market Recovery Plan (TMRP) mooted last year. Full text...

  • Survey foresees 3 percent growth for Kenya
    27 may 2004 20:45:00
    Nairobi- Kenya (PANA) -- The Kenyan economy would grow by 3 percent this year after posting a 1. Full text...

  • Ghana signs up to Africa's Peer Review Mechanism
    27 may 2004 20:09:00
    Accra- Ghana (PANA) -- Ghana Thursday signed an agreement with the African Peer Review Mechanism (APRM) Support Mission to submit itself to the good governance test of the New Partnership for Africa's Development (NEPAD). Full text...

  • Nigerian hotel chain lands IFC loan for renovation project
    27 may 2004 18:51:00
    Dakar- Senegal (PANA) -- The World Bank's International Finance Corporation (IFC) has announced the approval of an 11-million dollar loan for UPDC Hotels Limited (UHL) to finance renovation works on the recently privatised FESTAC 77 hotel complex in Lagos, Nigeria. Full text...

  • Mozambican govt sells bonds to raise funds
    27 may 2004 18:32:00
    Maputo- Mozambique (PANA) -- The Mozambican government has issued 2. Full text...

  • Zambian leader to visit Copperbelt industrial fair
    27 may 2004 15:23:00
    Lusaka- Zambia (PANA) -- Zambia's President Levy Mwanawasa will on Friday fly to the mineral rich northern Copperbelt Province to interact with exhibitors at a regional industrial fair underway there since Thursday. Full text...

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