Economy -
  • Kibaki calls for improved transport links in Africa
    27 january 2005 17:35:00
    Nairobi- Kenya (PANA) -- Kenyan President Mwai Kibaki Thursday called for improved transport and communication networks within African countries, saying improved transport connectivity was crucial to an increased trade on the continent. Full text...

  • Africa's leading trade expert at WTO talks in Kenya
    27 january 2005 16:32:00
    Nairobi- Kenya (PANA) -- Kenya's World Trade Organisation mini- ministerial conference slated for Nairobi 3-5 March will be exclusively attended by top 28 trade negotiating blocs. Full text...

  • Kenyan moves to strengthen data collection system
    27 january 2005 16:10:00
    Nairobi- Kenya (PANA) -- The Kenyan cabinet Thursday approved a bill to transform the country's Central Bureau of Statistics (CBS) into an independent agency for the collection of data that would bolster the nation's international trade negotiations. Full text...

  • SA firms agree deal to enhance black empowerment
    27 january 2005 16:01:00
    Cape Town- South Africa (PANA) -- Old Mutual and Amabubesi Investments Thursday announced entering an agreement for Old Mutual to acquire a 20 percent stake in the black economic empowerment company, subscribe for preference shares and enter an arrangement regarding an Investment Fund of 150 million Rand. Full text...

  • RECs task AU on African Central Bank
    27 january 2005 15:47:00
    Abuja- Nigeria (PANA) -- Chief executives of regional economic communities (RECs) in Africa have called on the Africa Union (AU) Commission to circulate to member States terms of reference for the establishment of the African Central Bank. Full text...

  • Turnover at the Nairobi bourse rises
    27 january 2005 14:11:00
    Nairobi- Kenya (PANA) -- Buoyed by robust trading volumes, turnover at the Nairobi Stock Exchange (NSE) Thursday rose to 97 million Kenya shillings on a volume of 4. Full text...

  • Zambia's Mwanawasa says Japan visit 'successful'
    27 january 2005 14:01:00
    Lusaka- Zambia (PANA) -- President Levy Mwanawasa returned home Thursday from Japan, describing his five-day state visit as a 'resounding success'. Full text...

  • ADF funds study on energy integration in West Africa
    27 january 2005 13:49:00
    Dakar- Senegal (PANA) -- The African Development Fund (ADF) has approved a grant of US$5. Full text...

  • Nigerian govt staves off potential oil strike
    27 january 2005 10:56:00
    Lagos- Nigeria (PANA) -- A planned strike by Nigeria's powerful oil unions to protest alleged acts of racism and intimidation of Nigerian workers by WASCO, a Malaysian-owned oil company based in the southern city of Port Harcourt, has been put off temporarily following talks brokered by the federal ministry of labour. Full text...

  • Obasanjo urges West African officials to fight corruption
    27 january 2005 10:39:00
    Lagos- Nigeria (PANA) -- Nigerian President Olusegun Obasanjo has urged West African accountants-general and auditors from 14 countries to play a greater role in addressing the problem of corruption and public expenditure in the sub-region. Full text...

  • Tanzania grapples with electricity problems
    27 january 2005 07:59:00
    Dar es Salaam- Tanzania (PANA) -- Power cuts and rationing have in the last three months harassed Tanzanian industries, even though management of the country's energy sector has for four years now been in the hands of a foreign company, the Net Group Solutions from South Africa. Full text...

  • Ivorian cocoa farmers denounce unfair buying practices
    26 january 2005 23:06:00
    Abidjan- Côte d'Ivoire (PANA) -- Farmers who are members of the 14 unions of the cocoa/coffee sub-sector in Côte d'Ivoire Wednesday criticised major buyer corporations of engaging in "unfair competition" by purchasing the produce directly from plantations at low prices. Full text...

  • World Bank conference on development opens in Dakar Thursday
    26 january 2005 22:47:00
    Dakar- Senegal (PANA) -- The 17th World Bank annual Conference on economic development opens Thursday in Dakar, the Senegalese Economy and Finance Ministry said in a release Wednesday. Full text...

  • Mali, Mauritania sign tourism and livestock accords
    26 january 2005 20:55:00
    Nouakchott- Mauritania (PANA) -- Mali and Mauritania have signed agreements to cooperate in tourism development and cattle breeding, the official Mauritanian News Agency (AMI) reported here Wednesday. Full text...

  • Mauritian firm to build textile plant in China
    26 january 2005 20:42:00
    Port-Louis- Mauritius (PANA) -- The Mauritian textile company (CMT) said it was investing some 75 million US dollars in a new textile plant in Namtong, near the Chinese city of Shanghai. Full text...

  • Kenya committed to EAC Customs Union pact, says Minister
    26 january 2005 20:32:00
    Nairobi- Kenya (PANA) -- Kenya is committed to the East African Community (EAC) Customs Union Protocol, binding it with neighbours Uganda and Tanzania, despite domestic industry protests, Trade and Industry Minister Mukhisa Kituyi said in Nairobi Wednesday. Full text...

  • Zimbabwe predicts 3-5 percent economic growth
    26 january 2005 20:20:00
    Harare- Zimbabwe (PANA) -- Zimbabwe, basking in the glory of an inflation slowdown, Wednesday predicted economic growth of between three and five percent this year, the first time in five years the southern African country would register positive growth. Full text...

  • Alcoa signs to do Integrated Aluminium Industry in Ghana
    26 january 2005 19:30:00
    Accra- Ghana (PANA) -- Ghana and Alcoa, the world's leading producer and manager of primary aluminium, fabricated aluminium and alumina facilities, on Wednesday signed a Memorandum of Understanding (MOU) to develop an integrated aluminium industry in Ghana. Full text...

  • Accra bourse ends nearly flat
    26 january 2005 19:04:00
    Accra- Ghana (PANA) -- The Accra bourse ended trading on Wednesday nearly flat, as the equities on the market remained dull. Full text...

  • Zimbabwe registers increase in forex inflows
    26 january 2005 18:56:00
    Harare- Zimbabwe (PANA) -- Zimbabwe increased foreign currency inflows 468 percent last year to US$1. Full text...

  • Poverty reduction remains pipe dream in Africa
    26 january 2005 18:48:00
    Dakar- Senegal (PANA) -- Poverty is expected to persist at a staggering 45 percent by the year 2015 in sub-Saharan Africa, contrary to the internationally set goal of reducing the number of people earning less than $1 a day by 2015, says a new assessment report. Full text...

  • Kenyan tea exporters seek new trade deal with Pakistan
    26 january 2005 17:37:00
    Nairobi- Kenya (PANA) -- Kenyan tea exporters Wednesday appealed to the government to apply the existing World Trade Organisation (WTO) rules to negotiate a preferential trading deal with Pakistan, which has threatened to sever trade ties with the East African country over tough new taxes. Full text...

  • Kenya to host forum on WTO talks revival
    26 january 2005 17:29:00
    Nairobi- Kenya (PANA) -- Kenya will host the World Trade Organisation (WTO) mini-ministerial conference from 3-5 March to kick-start the stalled global trade talks which collapsed in 2003 over deep differences between the rich and poor nations. Full text...

  • Zimbabwe increases gold output, earnings
    26 january 2005 17:01:00
    Harare- Zimbabwe (PANA) -- Zimbabwe almost doubled its gold output and earnings to 21. Full text...

  • Kenyan bankers upbeat over future economic growth
    26 january 2005 16:37:00
    Nairobi- Kenya (PANA) -- Kenyan bankers are optimistic that the growth experienced in the economy in 2004 will extend into this year after the Central Bank of Kenya intervened to stabilise interest rates. Full text...

  • Kenya gears up for southern Sudan trade
    26 january 2005 14:04:00
    Nairobi- Kenya (PANA) -- Kenyan manufacturers and the trade and industry ministry Wednesday met here to discuss way of enhancing trade with semi-autonomous southern Sudan. Full text...

  • Experts discuss navigation on the River Senegal
    26 january 2005 13:16:00
    Nouakchott- Mauritania (PANA) -- Top officials and experts at the River Senegal Development Organisation (OMVS) are discussing navigation on the river, in a three-day workshop afoot here since Tuesday. Full text...

  • Private companies to run Nigerian ports from August
    26 january 2005 13:06:00
    Lagos- Nigeria (PANA) -- Private companies will run the various terminals at Nigerian seaports from August 2005 under the ports concessioning programme of the federal government, finance minister Ngozi Okonjo-Iweala said. Full text...

  • Kenyan tea exports hit record sales
    26 january 2005 11:42:00
    Nairobi- Kenya (PANA) -- Kenyan tea exports in 2004 hit historical levels of 324,608,570 kg to become the lead foreign exchange earner after tourism, buoyed by record sales to Pakistan, Egypt and Britain, officials said here Wednesday. Full text...

  • Algerian economic mission to visit Morocco
    26 january 2005 10:14:00
    Rabat- Morocco (PANA) -- Algerian businessmen are to visit Morocco from 3 to 6 February to attend the inauguration of the Casablanca-Oran air route, informed sources have told PANA here. Full text...

  • SA miners recall discovery of world's biggest diamond
    26 january 2005 10:04:00
    Pretoria- South Africa (PANA) -- South Africa's diamond mining industry Wednesday marked the 100th anniversary of the discovery of the largest diamond ever found. Full text...

  • Obasanjo lures Ukrainian investors
    26 january 2005 09:54:00
    Abuja- Nigeria (PANA) -- President Olusegun Obasanjo has said he will do everything possible to encourage Ukrainian companies to invest in Nigeria. Full text...

  • Oil unions in Nigeria maintain strike threat
    26 january 2005 09:52:00
    Lagos- Nigeria (PANA) -- The Nigerian subsidiary of Anglo-Dutch giant Shell, citing a blockade by protesting locals has shut down two oil flowstations with a total capacity of 35,000 barrels per day, according to a statement the company issued Tuesday. Full text...

  • Kenya govt moves to streamline award of public contracts
    26 january 2005 09:47:00
    Nairobi- Kenya (PANA) -- Finance minister David Mwiraria, decrying corruption and abuse in the country's procurement system, hinted Wednesday that a government bill was in the works to streamline the award of public contracts in Kenya. Full text...

  • Mozambique reduces fuel prices
    25 january 2005 23:38:00
    Maputo- Mozambique (PANA) -- Mozambican motorists awoke on Tuesday to a dramatic cut in the price of petrol. Full text...

  • Senegal's backing of Nigerian ADB candidate irks Gabon
    25 january 2005 21:35:00
    Dakar- Senegal (PANA) -- Gabonese authorities have received with misgivings a decision by President Abdoulaye Wade of Senegal to back a Nigerian candidate for the presidency of the African Development Bank (ADB), official sources told PANA in Libreville. Full text...

  • ACP, EU disagree on 2006 sugar reforms
    25 january 2005 21:02:00
    Brussels- Belgium (PANA) -- African, Caribbean and Pacific (ACP) group of countries have failed to reach an agreement with the European Union on the implementation of the sugar reforms Brussels wants to introduce before 30 June 2006 when the current sugar regime expires, official sources said here Tuesday. Full text...

  • Tanzania hopes to receive more South Korean tourists
    25 january 2005 17:21:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania is hoping to receive thousands of tourists from South Korea following a tour by the Asian country's Foreign Affairs and Trade Minister Ban Ki-moon of Tanzania's tourist resort. Full text...

  • Nigerian capital market regulator warns companies on IPO
    25 january 2005 16:45:00
    Lagos- Nigeria (PANA) -- Nigeria's Securities and Exchange Commission (SEC), the country's capital market regulator, has warned that it would no longer accept over-subscription by companies raising funds through the Initial Public Offer (IPO). Full text...

  • Obasanjo seeks 931.7m naira for Nigeria national dialogue
    25 january 2005 15:46:00
    Lagos- Nigeria (PANA) -- Nigerian president Olusegun Obasanjo has asked the national parliament to approve 931. Full text...

  • WB team to draft Kenya's banking sector privatisation plan
    25 january 2005 15:18:00
    Nairobi- Kenya (PANA) -- The Kenyan government has engaged a World Bank team to help with the restructuring of key banking institutions choked with bad debts before privatising them, Finance Minister David Mwiraria said here Tuesday. Full text...

  • Tariff rule threatens Kenya's spare parts makers
    25 january 2005 14:47:00
    Nairobi- Kenya (PANA) -- Kenyan motor vehicle spare parts manufacturers Tuesday raised alarm over the possible collapse of the local automotive filter processing industry within the next six months if urgent action is not taken to reverse taxation measures. Full text...

  • Academics to focus African research in Dakar
    24 january 2005 19:43:00
    Dakar- Senegal (PANA) -- Two international research bodies on Monday announced plans to convene an international conference on African economic research institutions and development policies in Dakar 28-29 January. Full text...

  • World Bank mission arrives Guinea Bissau
    24 january 2005 18:53:00
    Bissau- Guinea Bissau (PANA) -- A World Bank delegation led by vice president Gobin Nankani arrived here Monday for talks with Guinea Bissau authorities on the bank's possible intervention in the troubled West African nation. Full text...

  • Accra bourse slips under weight of BAT
    24 january 2005 16:37:00
    Accra- Ghana (PANA) -- Ghana's Accra bourse slipped on Monday under the weight of a 700-cedi loss by British American Tobacco (BAT) in dull trading. Full text...

  • Ghana's oil market deregulation to boost economic growth
    24 january 2005 16:33:00
    Accra- Ghana (PANA) -- Ghana's Central Bank Governor, Paul Acquah, on Monday said the expected deregulation of the oil market in February would free funds currently being used in subsidising the product to key areas of the economy to enhance growth. Full text...

  • Minimal trading at the Nairobi stock market
    24 january 2005 15:37:00
    Nairobi- Kenya (PANA) -- The Nairobi Stock Exchange (NSE) opened the week sluggish, with a total of 616,000 shares valued at 32 million Kenya shillings, down from 139 million shillings on a solid volume of 4. Full text...

  • Kenya's telecom regulator urges locals to tap ICT
    24 january 2005 15:24:00
    Nairobi- Kenya (PANA) -- Kenya's telecommunication regulators Monday unveiled plans to develop an information communication technology (ICT) resource centre with the sole aim of promoting investments and information access to journalists. Full text...

  • Kenya explores new tourism frontier
    24 january 2005 15:15:00
    Nairobi- Kenya (PANA) -- Kenya Tourism Board (KTB) has embarked on a 'cultural tourism' programme in the western region in a bid to break away from the traditional 'beach and wildlife' centred tourism, an official of the industry said. Full text...

  • US says AGOA upped trade with sub-Saharan Africa in 2003
    24 january 2005 14:24:00
    Johannesburg- South Africa (PANA) -- The United States has attributed increased trade in 2003 with sub-Saharan to benefits offered under the African Growth and Opportunity Act (AGOA). Full text...

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