Economy -
  • Weak energy sector fails Africa's enlarged export drive - ECA
    07 may 2004 20:37:00
    Addis Ababa- Ethiopia (PANA) -- African electricity firms could prevent frequent blackouts and power the continent's export diversification drive if they incorporated economic considerations in their operations, according to a new report of the UN Economic Commission for Africa (ECA). Full text...

  • African ministers discuss sustainable energy
    07 may 2004 19:42:00
    Nairobi- Kenya (PANA) -- African ministers of energy began a two- day meeting Friday at the United Nations' Nairobi headquarters to discuss practical and sustainable solutions to energy problems in the continent. Full text...

  • Cotonou accord should maintain anti-poverty objective - ACP
    07 may 2004 16:29:00
    Gaborone- Botswana (PANA) -- African, Caribbean and Pacific (ACP) States are imploring the European Union to ensure that the primary objective of the Cotonou Accord to eradicate poverty remained salient as the two bodies undertake a review of the agreement. Full text...

  • Fuel prices up in Nouakchott
    07 may 2004 15:24:00
    Nouakchott- Mauritania (PANA) -- Fuel and diesel prices went up by 11 and 12 percent respectively Friday in the Mauritanian capital Nouakchott, motorists said. Full text...

  • Nigerian budget to address citizens' needs -- Minister
    07 may 2004 14:36:00
    Lagos- Nigeria (PANA) -- Nigeria's 1. Full text...

  • Oil companies show keen interest in Morocco
    07 may 2004 11:02:00
    Rabat- Morocco (PANA) -- The oil sector in Morocco is experiencing a bubble with 17 big oil companies operating in the country's sedimentary basins, National Hydrocarbons and Mining Authority (ONHYM) general manager Amina Benkhadra boasted here last Wednesday. Full text...

  • Morocco's trade deficit worsens in first quarter
    07 may 2004 09:56:00
    Rabat- Morocco (PANA) -- Morocco's trade deficit reached 14 billion dirhams during the first quarter of 2004, a drop of 2. Full text...

  • ECA spurs African countries on global trade race
    07 may 2004 09:07:00
    Addis Ababa- Ethiopia (PANA) -- Urging a more accommodating international context for African exports, the UN Economic Commission for Africa (ECA) has said African countries too, must enhance their ability to compete in global markets. Full text...

  • Afreximbank props Zimbabwe's export sector
    07 may 2004 07:39:00
    Harare- Zimbabwe (PANA) -- A Zimbabwean bank said Friday it had secured a 15-million US dollar line of credit from Africa Export Import Bank (Afreximbank) to finance the local export sector. Full text...

  • Switzerland grants Niger 5.5 billion FCFA
    06 may 2004 23:13:00
    Niamey- Niger (PANA) -- Niger and Switzerland have signed three financial agreements totalling 5. Full text...

  • Tunisia gets US$88 million ADB loan for rail modernisation
    06 may 2004 20:47:00
    Tunis- Tunisia (PANA) -- The African Development Bank (ADB) and the Tunisian government have signed an agreement for 88. Full text...

  • 2004 critical for ECOWAS 2nd monetary zone - Chambas
    06 may 2004 19:42:00
    Abuja- Nigeria (PANA) -- ECOWAS Executive Secretary Mohamed Ibn Chambas, has described 2004 as a very critical year for the community's second monetary zone project. Full text...

  • Ould Taya denounces proliferation of stalls in Mauritania
    06 may 2004 19:00:00
    Nouakchott- Mauritania (PANA) -- Mauritanian President Maaouya Ould Sid'Ahmed Taya has frowned at the indiscriminate building of shops in residential areas. Full text...

  • IDB supports rail project in Morocco
    06 may 2004 16:54:00
    Rabat- Morocco (PANA) -- The Islamic Development Bank (IDB) board has approved a grant of 65 million US dollars for the financing of a rail project in Morocco, the Bank said in a statement. Full text...

  • Crackdown on tax-evading taxis cripples Libreville
    06 may 2004 15:16:00
    Libreville- Gabon (PANA) -- An operation to check urban transport vehicles that have not paid municipal taxes has caused a serious shortage of taxis in the Gabonese capital of Libreville this week. Full text...

  • Kenya industries fear collapse in massive trade liberalisation
    06 may 2004 13:01:00
    Nairobi- Kenya (PANA) -- The Kenya Association of Manufacturers (KAM) stressed Wednesday that factors impeding prompt solutions to trade disputes under the multilateral system must be addressed urgently to secure industries in Africa. Full text...

  • Nigeria's revenue service generates more funds
    06 may 2004 12:10:00
    Lagos- Nigeria (PANA) -- Nigeria's Federal Inland Revenue Service (FIRS) generated 267. Full text...

  • Nigeria seeks $75 million from World Bank for reforms
    06 may 2004 12:07:00
    Lagos- Nigeria (PANA) -- Nigeria has approached the World Bank for a 75-million-dollar loan to prosecute its civil service reforms. Full text...

  • Weak energy sector fails Africa's enlarged export drive - ECA
    06 may 2004 10:47:00
    Addis Ababa- Ethiopia (PANA) -- African electricity firms could prevent frequent blackouts and power the continent's export diversification drive if they incorporated economic considerations in their operations, according to a new report of the UN Economic Commission for Africa (ECA). Full text...

  • Africa needs proactive policies to unlock trade potential - ECA
    06 may 2004 09:46:00
    Addis Ababa- Ethiopia (PANA) -- Weak infrastructure, poor trade facilitation services and the lack of physical and human capital impede the development of Africa's export sector, says the UN Economic Commission for Africa (ECA) in a new report. Full text...

  • World Bank's IFC loans Egyptian private port
    05 may 2004 23:06:00
    Dakar- Senegal (PANA) -- The International Finance Corporation, the private sector arm of the World Bank Group, will provide a $20 million loan to Egypt's the Sokhna Port Development Company (SPDC). Full text...

  • Malian architect wins prize in Geneva exhibition
    05 may 2004 21:34:00
    Bamako- Mali (PANA) -- For inventing the H and 2 H-shaped bricks, Malian architect Gaoussou Traoré won the best invention prize awarded by the International Organisation of Intellectual Property at the 32nd International Invention exhibition in Geneva, local newspapers reported Wednesday. Full text...

  • Teylium International Group buys Loteny Telecom
    05 may 2004 20:58:00
    Dakar- Senegal (PANA) -- Teylium International's shareholding in Orascom Telecom Holding S. Full text...

  • Financial stocks continue gain at Accra bourse
    05 may 2004 20:03:00
    Accra- Ghana (PANA) -- Financial stocks continued their good run on the Ghana Stock Exchange (GSE) Wednesday, with interest in Cocoa Products Company (CPC) shares also high. Full text...

  • USAID, Morocco sign $97.65 million grant package
    05 may 2004 19:55:00
    Rabat- Morocco (PANA) -- USAID Administrator Andrew Natsios has signed a US needs assistance package with Morocco worth $97. Full text...

  • Indian firm wins Mozambican rail reconstruction tender
    05 may 2004 19:54:00
    Maputo- Mozambique (PANA) -- Indian company "Rites Full text...

  • Zimbabwe increases platinum output
    05 may 2004 18:59:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's sole platinum mining company said Wednesday it increased output of the mineral by 17 percent in the first three months of this year, earning 35 million US dollars. Full text...

  • Malawi commercial bank doubts govt economic measures
    05 may 2004 18:40:00
    Blantyre- Malawi (PANA) -- Stanbic Bank, one of Malawi's leading commercial banks, says the country's May 18 general elections could force government to put "cosmetic checks" on macroeconomic indicators to avoid negative public reactions. Full text...

  • Belgium to donate 9 billion FCFA to Cote d'Ivoire
    05 may 2004 18:16:00
    Abidjan- Cote d'Ivoire (PANA) -- Belgium will provide 9 billion FCFA to assist efforts by the Ivorian government in restoring state authority throughout the country, the kingdom's ambassador Willy de Buck revealed here Tuesday after an audience with President Laurent Gbagbo. Full text...

  • Algeria gets 106 million-Euro grant from EU
    05 may 2004 17:56:00
    Algiers- Algeria (PANA) -- The European Commission has approved about 106 million Euro for Algeria under the Euro-Mediterranean Co-operation (MEDA programme) for the 2005-2006 period, official sources said in Algiers. Full text...

  • Experts hail Nigerian new Central Bank boss' appointment
    05 may 2004 15:58:00
    Lagos- Nigeria (PANA) -- Nigerian experts have commended President Olusegun Obasanjo for appointing his former Economic Adviser Charles Soludo as Governor of Central Bank of Nigeria (CBN), likening the appointment to putting a round peg in a round hole. Full text...

  • Report advises SA govt to deal with country's poverty
    05 may 2004 15:18:00
    Johannesburg- South Africa (PANA) -- The latest South African Human Development report released here Wednesday warned the government of President Thabo Mbeki that unless there was a major change to its economic policy, high rates of poverty, unemployment and inequality would persist. Full text...

  • Kibaki urges Africa to develop private sector partnership
    05 may 2004 15:00:00
    Nairobi- Kenya (PANA) -- Kenyan President Mwai Kibaki has called for increased partnership between the government and the private sector in the revitalisation of business and development of infrastructure in Africa. Full text...

  • Civil aviation directors meet in Cotonou
    05 may 2004 14:26:00
    Cotonou- Benin (PANA) -- Benin Transports and Public Works Minister Ahamed Akobi Tuesday opened the 2nd meeting of civil aviation directors from West and Central Africa, holding here 4-8 April with focus on security and air safety. Full text...

  • Trading upbeat at Uganda stock exchange
    05 may 2004 13:49:00
    Kampala- Uganda (PANA) -- The Uganda Securities Exchange (USE) opened trading upbeat this week, with the All Share Index inching up 1. Full text...

  • Uganda to ban honey, bee imports
    05 may 2004 13:38:00
    Kampala- Uganda (PANA) -- Uganda is to ban the importation of honey and bees in a move the authorities said was aimed at guarding the country against foreign diseases currently wreaking havoc on its exports to Europe and the US. Full text...

  • Zambia reports increased exports to COMESA, SADC member states
    05 may 2004 13:15:00
    Lusaka- Zambia (PANA) -- Zambia's total exports to the Common Market for Eastern and Southern Africa (COMESA) increased from 74,313 million kwacha in February to 144,900 million kwacha by the end of March, while imports declined from 99,797 million kwacha to 68,178 million kwacha, the Central Statistics Office (CSO) disclosed here Wednesday. Full text...

  • South Africa assists stricken tanker
    05 may 2004 10:57:00
    Cape Town- South Africa (PANA) -- South African salvors are scrambling to remove almost 2,000 tons of fuel from a stricken bulk carrier off the country's west coast which is threatening to break up. Full text...

  • Nigeria orders Halliburton to pay $10m in taxes
    05 may 2004 09:36:00
    Lagos- Nigeria (PANA) -- Nigeria's Federal Inland Revenue Service (FIRS) has ordered the US company, Halliburton, to pay an outstanding balance of 10 million US dollars in back taxes owed to the Nigerian government, the local press reported Wednesday. Full text...

  • Nubians sue Ugandan govt over frozen bank accounts
    04 may 2004 22:51:00
    Kampala- Uganda (PANA) -- Nubians, who were closely linked to the brutal regime of late Ugandan dictator Idi Amin Dada have sued the current government for denying their community access to bank accounts frozen since 1979. Full text...

  • Angola opens new diamond sorting chamber
    04 may 2004 20:36:00
    Luanda- Angola (PANA) -- Angola's mines and geology minister Manuel Africano has inaugurated a diamond sorting and classification chamber, official sources said. Full text...

  • Zimbabwean company secures loan for diamond mining
    04 may 2004 19:50:00
    Harare- Zimbabwe (PANA) -- A Zimbabwean firm has secured a 16. Full text...

  • Ghana's stock index rises amid low traded volumes
    04 may 2004 18:59:00
    Accra- Ghana (PANA) -- Volumes of shares traded on the Ghana Stock Exchange were low on Tuesday after the May Day holiday, although the bourse continued to rise, thanks to gains in share prices in nine equities. Full text...

  • LDCs urged to exercise flexibility in trade talks
    04 may 2004 17:32:00
    Dakar- Senegal (PANA) -- World Trade Organisation (WTO) director general Panitchpakdi Supachai Tuesday urged least developed countries (LDC) to exercise flexibility and realism in their trade negotiations with developed countries, especially over the contentious issue of subsidised farm produce. Full text...

  • Nigeria, Sao Tome award first oil bloc in joint venture
    04 may 2004 17:23:00
    Abuja- Nigeria (PANA) -- Nigeria and Sao Tome and Principe have taken a major step for oil production in their Joint Development Zone (JDZ) by awarding the first oil bloc in the zone to a consortium of companies, Nigerian Presidential spokesperson Remi Oyo said. Full text...

  • Chissano, Portuguese leader urge more support for Africa
    04 may 2004 16:51:00
    Maputo- Mozambique (PANA) -- Mozambican President Joaquim Chissano and his visiting Portuguese counterpart Jorge Sampaio, have urged the international community, particularly the industrialised countries, to provide more financial support to Africa to spur sustainable development. Full text...

  • Germany helps start humanitarian scheme in Zambia
    04 may 2004 16:09:00
    Lusaka- Zambia (PANA) -- The German development agency, Deutsche Gesellschaft Fur Technishce Zusammenarbeit (GTZ), Tuesday launched a scheme in Zambia's southern district of Kalomo intended to benefit a class of people classified as "the poorest of the poor. Full text...

  • 'Telecom Africa' kicks off in Cairo
    04 may 2004 12:54:00
    Tunis- Tunisia (PANA) -- This year's edition of Telecom Africa, an information and communication technology (ICT) conference and exhibition opened Tuesday in Cairo, Egypt and would run through 8 May. Full text...

  • Zambia, Namibia commission bridge linking them
    04 may 2004 08:48:00
    Lusaka- Zambia (PANA) -- Zambia and Namibia, with the financial support of the German government have successfully completed a bridge linking the two countries across the River Zambezi. Full text...

  • Bozizé in tug-of-war over austerity budget
    03 may 2004 21:33:00
    Bangui- Central African Republic (PANA) -- Central Africa Republic strongman, Gen. Full text...

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