Economy -
  • High coffee prices spur economic growth in Uganda
    09 july 2004 08:26:00
    Kampala- Uganda (PANA) -- Uganda earned $12. Full text...

  • ACP and G-90 in conclave in Mauritius
    08 july 2004 23:46:00
    Port-Louis- Mauritius (PANA) -- About 300 foreign delegates, including 30 ministers are expected in Mauritius for the conferences of the Trade ministers from ACP and G-90 member countries billed for 11-13 July in Grand-Baie. Full text...

  • Gabon raises VAT
    08 july 2004 23:37:00
    Libreville- Gabon (PANA) -- The value added tax (VAT) in Gabon has been raced from 18 to 25 percent in Gabon, in keeping with budget prescriptions for 2004, sources at the Finance ministry indicated Thursday. Full text...

  • Ghana Parliament approves OPEC loan agreement
    08 july 2004 21:32:00
    Accra- Ghana (PANA) -- Parliament Thursday unanimously approved a 7-million US dollar loan agreement between the Ghanaian government and the OPEC Fund for International Development (OFID) to support the second phase of the Ghana Poverty Reduction Project (GPRP) through the Social Investment Fund (SIF). Full text...

  • Ndolo Airport in Kinshasa reopens
    08 july 2004 21:26:00
    Kinshasa- DR Congo (PANA) -- Transports and Communications minister Joseph Olenghankoy inaugurated the reopening of traffic Thursday at Ndolo airport in Kinshasa after an eight-year closure following a plane crash there in January 1996. Full text...

  • DR Congo reports drop in inflation rate
    08 july 2004 21:20:00
    Kinshasa- DR Congo (PANA) -- The inflation rate in DR Congo calculated on a year-to-year basis for the first six months of 2004 was 4,2% as against 12,3% for the same period last year, according to the national statistics institute (NSI). Full text...

  • IMF gives Zimbabwe economic berth
    08 july 2004 20:44:00
    Harare- Zimbabwe (PANA) -- The International Monetary Fund (IMF) has voted to keep Zimbabwe as member of the financial institution, after threatening the southern Africa country with expulsion over mounting debt arrears. Full text...

  • Kenyan govt vows to continue fighting corruption
    08 july 2004 16:11:00
    Nairobi- Kenya (PANA) -- The Kenyan government was committed to fighting corruption and it would not protect anyone involved in the vice, government spokesman Alfred Mutua said Thursday in Nairobi, the Kenyan capital. Full text...

  • Madagascar gets US$125 million from World Bank to fight poverty
    08 july 2004 15:35:00
    Antananarivo- Madagascar (PANA) -- Madagascar is to receive 125 million US dollars from the World Bank to finance its Poverty Reduction Support Fund over three years, a senior official of the Bank said in Antananarivo. Full text...

  • Ugandan vanilla farmers turn to Kenyan market
    08 july 2004 15:11:00
    Mukono- Uganda (PANA) -- Frustrated by low farm-gate prices, an increasing number of Ugandan vanilla growers have opted to sell their crop to Kenyan buyers reportedly offering prices six times higher. Full text...

  • Total subsidiary re-opens oil production in Nigeria
    08 july 2004 11:38:00
    Lagos- Nigeria (PANA) -- The upstream subsidiary of French oil giant Total in Nigeria, Elf Petroleum, will re-open its oil and gas production in the country Thursday following an agreement with senior workers over a number of contentious issues. Full text...

  • 25 countries confirm participation in Luanda trade fair
    08 july 2004 10:21:00
    Luanda- Angola (PANA) -- Some 25 countries of Africa, Europe and Asia have confirmed they would participate in the 21st edition of the international trade fair of Luanda (FILDA/2004) scheduled here 12-18 July. Full text...

  • Nigeria raises banks' capital base to 25 billion naira
    07 july 2004 23:04:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) has directed each of the 89 banks in the country to raise their capital base from 2 billion naira (17. Full text...

  • Coca-Cola opens a soft drink plant
    07 july 2004 22:30:00
    Mogadishu- Somalia (PANA) -- Coca-Cola has opened a soft drinks plant here with a consortium of Somali investors staking 8. Full text...

  • Zimbabwe govt approves power projects
    07 july 2004 20:55:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's power utility said Wednesday it had secured government backing for an ambitious 1-billion US dollar development project with a view to ending the importation of electricity in the country. Full text...

  • ADB approves US$112 million loan for Gabon
    07 july 2004 20:35:00
    Libreville- Gabon (PANA) -- The Board of Directors of the African Development Bank (ADB) has approved a structural adjustment loan of 112 million US dollars for Gabon, the Bank said in a release. Full text...

  • Turnover down at Nairobi bourse
    07 july 2004 16:53:00
    Nairobi- Kenya (PANA) -- Turnover at the Nairobi Stock Exchange (NSE) slackened Wednesday to 47. Full text...

  • Kenyan minister refuses to resign over scandal
    07 july 2004 15:29:00
    Nairobi- Kenya (PANA) -- Kenyan finance minister David Mwiraria Wednesday scoffed at calls for his resignation over a multi-million shillings passports scandal as donor agencies demanded that the President Mwai Kibaki's government take prompt action against members of his government alleged to be corrupt. Full text...

  • Nigeria raises banks' capital base to N25 billion
    07 july 2004 11:04:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) has directed the country's 89 banks to raise their capital base from two billion naira to 25 billion naira by 31 December 2005 or merge their operations with those of other banks (N133 =1 USD). Full text...

  • Nigeria commended for progress against financial crimes
    06 july 2004 21:54:00
    Abuja- Nigeria (PANA) -- The International Financial Action Task Force (FATF) Tuesday raised hopes that Nigeria could soon be removed from its list of countries not co-operating in the global fight against financial crimes. Full text...

  • Chinese investors visit Reunion
    06 july 2004 21:17:00
    Saint-Denis- Reunion (PANA) -- A Chinese business delegation is currently visiting here to appraise investment opportunities in Reunion, official sources told PANA. Full text...

  • Conflict ruins economy in south Senegal's Casamance
    06 july 2004 18:02:00
    Ziguinchor- Senegal (PANA) -- A 22-year old armed conflict has ruined the economy of Casamance region in southern Senegal, 700 km south of Dakar despite its abundant natural resources. Full text...

  • EU recommends common strategy on African cotton
    06 july 2004 16:03:00
    Brussels- Belgium (PANA) -- A European Union-Africa forum on cotton opened here Monday to prepare a common strategy of helping African cotton producing countries, official sources told PANA. Full text...

  • Nigeria gets US$460 million development grant from US
    06 july 2004 14:17:00
    Lagos- Nigeria (PANA) -- The US government is to spend some 460 million dollars in development assistance grants to Nigeria over the next five years, according to US Information Officer Storm Jackson. Full text...

  • Turnover down at Nairobi bourse
    06 july 2004 14:07:00
    Nairobi- Kenya (PANA) -- Turnover dropped to 56 million shillings on a volume of 2. Full text...

  • EAC sets up standards regulation mechanism for goods
    06 july 2004 13:25:00
    Kampala- Uganda (PANA) -- Experts from different sectors in member States of the East African community (EAC) comprising Kenya, Uganda and Tanzania have set up an integrated standards control body for goods and services in a move to enhance their competitiveness in global markets. Full text...

  • Elf shuts down oil production in Nigeria
    06 july 2004 11:42:00
    Lagos- Nigeria (PANA) -- Elf Petroleum Nigeria Ltd. Full text...

  • Meles on Commission for Africa's role in poverty war
    06 july 2004 11:33:00
    Addis Ababa- Ethiopia (PANA) -- The British-backed Commission for Africa could provide the impetus needed to eradicate extreme poverty and hunger from the continent, Ethiopian Prime Minister Meles Zenawi said Tuesday in Addis Ababa, the Ethiopian capital. Full text...

  • Senegal to host international meet on globalisation
    06 july 2004 10:26:00
    Dakar- Senegal (PANA) -- The third international meeting on Globalisation of Solidarity, dubbed "Dakar 2005", is scheduled to hold 22-26 November in the Senegalese capital, the organisers have said. Full text...

  • AU executive council recommends bank for basic products
    06 july 2004 09:17:00
    Addis Ababa- Ethiopia (PANA) -- The African Union (AU)'s executive council has recommended the creation of an African bank for basic products in order to reduce price fluctuation of strategic raw materials and improve the position of African producers on the global markets. Full text...

  • West African Mines ministers meet in Accra
    05 july 2004 21:37:00
    Accra- Ghana (PANA) -- West African ministers of Mines began a meeting here Monday to deliberate on the formation of a sub- regional body to streamline sustainable exploration of minerals in the sub-region. Full text...

  • Zambian woman heads Ghana Barclays Bank
    05 july 2004 21:32:00
    Accra- Ghana (PANA) -- Barclays Bank PLC has announced the appointment of Margaret Mwanakatwe, a Zambian as new Managing Director for Barclays Bank of Ghana. Full text...

  • Nairobi Bourse begins week strong
    05 july 2004 20:50:00
    Nairobi- Kenya (PANA) -- The Nairobi Stock Exchange (NSE) opened the week on a high note trading 16. Full text...

  • Huawei 3G Trial to serve WSIS conference
    05 july 2004 20:34:00
    Tunis- Tunisia (PANA) -- The Tunisian Ministry of Communication Technologies and Transportation has chosen Huawei UMTS equipment for 3G trial services in Tunisia. Full text...

  • Employers in Central Africa push for CEMAC passport
    05 july 2004 19:22:00
    Libreville- Gabon (PANA) -- Meeting recently in Yaounde, Cameroon, the Employers Union of Central Africa (UNIPACE) indicated it would push for the introduction of a passport for the Central African Economic and Monetary Community (CEMAC). Full text...

  • Tunisian tourism authorities target Russian market
    05 july 2004 19:17:00
    Tunis- Tunisia (PANA) -- Tunisian tourism officials and professionals are targeting what is seen here as a promising Russian market, as they expect more than 100,000 Russian holidaymakers to visit the country this year. Full text...

  • Accra bourse makes marginal gain Monday
    05 july 2004 19:14:00
    Accra- Ghana (PANA) -- The Share Index of the Ghana Stock Exchange (GSE) was off to a marginal gain Monday after dropping two consecutive times at previous sessions, posting 7,048. Full text...

  • Ugandan hotels offer discounts to East Africans
    05 july 2004 17:10:00
    Kampala- Uganda (PANA) -- Uganda hotel owners have decided to offer a 10% discount on charges levied to East African clients in a bid to end perennial low occupancy rates and boost domestic tourism. Full text...

  • Trading dips this week at Nigerian bourse
    04 july 2004 09:20:00
    Lagos- Nigeria (PANA) -- Equities trading at the Nigerian Stock Exchange (NSE) fell this week with a turnover of 273. Full text...

  • Ghana inaugurates first textile, garments factory
    03 july 2004 19:33:00
    Accra- Ghana (PANA) -- Visiting Mauritius Prime Minister, Sir Anerood Jugnauth and President John Agyekum Kufuor on Friday inaugurated the first factory under the President's Special Initiative (PSI) on Textiles and Garments in Accra. Full text...

  • EU grants Tunisia 69.5m euros for agriculture
    03 july 2004 18:49:00
    Brussels- Belgium (PANA) -- The European Commission has given Tunisia grants worth 69. Full text...

  • Senegal to liberalise telecommunications 20 July
    03 july 2004 17:17:00
    Dakar- Senegal (PANA) -- Senegal will effective 19 July put an end to monopoly over telecommunications so far by the national telecommunication company (SONATEL), Prime minister Macky Sall said. Full text...

  • Demand for Forex drops in Nigeria
    03 july 2004 16:08:00
    Lagos- Nigeria (PANA) -- Demand for foreign exchange dropped this week at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market, as participating banks demanded a total of $197. Full text...

  • Nigerian securities market records low trading
    03 july 2004 16:05:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) traded a total of 68. Full text...

  • Trading falls at Nigerian bourse
    03 july 2004 15:37:00
    Lagos- Nigeria (PANA) -- Equities trading at the Nigerian Stock Exchange (NSE) fell this week with a turnover of 273. Full text...

  • Uganda inflation rate drops by 0.4 percent
    03 july 2004 12:30:00
    Kampala- Uganda (PANA) -- Uganda's inflation rate dropped by 0. Full text...

  • EU grants 69.5 million euros to Tunisia
    03 july 2004 09:17:00
    Brussels- Belgium (PANA) -- Tunisia obtained a total of 69. Full text...

  • Mauritius hikes fuel prices by 15 percent
    02 july 2004 23:17:00
    Port Louis- Mauritius (PANA) -- Mauritius on Friday raised the pump price of petrol and diesel by 15% per litre. Full text...

  • Algerian emigrants transfer $3 billion annually
    02 july 2004 22:54:00
    Algiers- Algeria (PANA) -- Foreign-based Algerians have the capacity to transfer US$3 billion back home each year to help in the country's development, the deputy minister in charge of nationals living abroad, Sakina Messadi, revealed here Thursday. Full text...

  • DR Congo, Nigeria joint commission to meet in July
    02 july 2004 22:18:00
    Kinshasa- DR Congo (PANA) -- DR Congo and Nigeria have planned their joint commission meeting for late July in Abuja to revive bilateral cooperation between both countries, the new Nigerian Ambassador here, Onuara Jonikul Obodozie said Friday. Full text...

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