Economy -
  • 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...

  • Spain agrees to restructure Angola's debt
    27 february 2003 20:27:00
    Luanda- Angola (PANA) -- Angola and Spain have agreed to work together in restructuring Luanda's estimated US$800 million debt to Madrid, it was officially announced. Full text...

  • BCEAO boss says Ivorian crisis affects growth in UEMOA
    27 february 2003 19:58:00
    Paris- France (PANA) -- Governor Charles Konan Banny of the Central Bank of West African States warned here Thursday that economy growth rates in the West African Economic and Monetary Union (UEMOA) will drop by at least 2 percent. Full text...

  • Tunisia's currency reserves up 48 percent on year
    27 february 2003 19:28:00
    Tunis- Tunisia (PANA) -- Tunisia's foreign currency reserves rose 48. Full text...

  • Minister calls for tough budgetary controls in Swaziland
    27 february 2003 18:59:00
    Lobamba- Swaziland (PANA) -- Swazi Finance Minister Majozi Sithole Thursday called for tougher budgetary controls by government ministries to save money for national projects. Full text...

  • German tourist arrivals down 65 percent in Tunisia
    27 february 2003 18:43:00
    Tunis- Tunisia (PANA) -- German tourist arrivals in Tunisia slumped 65 percent to 350,000 visitors in 2002 following a terror attack on a Jewish shrine early in the year, according to official figures from the sector reported here. Full text...

  • Wheat imports to Tunisia increase by 47 percent
    27 february 2003 18:15:00
    Tunis- Tunisia (PANA) -- Tunisia's wheat imports rose 47. Full text...

  • New government bank faces financial constraints in Nigeria
    27 february 2003 18:06:00
    Abuja- Nigeria (PANA) -- The cash-strapped, newly created Nigeria Bank of Industries (BOI) is seeking investment funds outside the government circles, according to the bank's chair Zakari Ibrahim. Full text...

  • Tunisia records 72 percent fall in earnings from olive oil
    27 february 2003 17:47:00
    Tunis- Tunisia (PANA) -- Olive oil exports from Tunisia slumped 72. Full text...

  • Obasanjo calls for understanding over fuel crisis
    27 february 2003 17:36:00
    Abuja- Nigeria (PANA) -- President Olusegun Obasanjo Thursday called for understanding from Nigerians over a biting national fuel crisis, which he said would end soon. Full text...

  • Mozambique hosts Nacala Corridor investors' meet
    27 february 2003 17:16:00
    Nacala- Mozambique (PANA) -- Mozambique's northern Nampula Province Governor Abdul Razak Noormahomed declared on Thursday that the participation of foreign investors in the Nacala Development Corridor would create a new dynamism in the regional and global economies. Full text...

  • Thai fishing crew lied of their position
    27 february 2003 16:53:00
    Maputo- Mozambique (PANA) -- Three of the four Thai trawlers seized earlier this week for illegally fishing prawns in the waters of the Sofala Bank, off the central Mozambican coast, were using the licence issued to a Mozambican company, Jepesca Limited, press reports said Thursday. Full text...

  • Swaziland owes US$3.5 billion foreign debts, says Minister
    27 february 2003 15:31:00
    Lobamba- Swaziland (PANA) -- Swaziland owes some 3. Full text...

  • East Africa's petroleum potential to be fast-tracked
    27 february 2003 14:51:00
    Dar es Salaam- Tanzania (PANA) -- Energy officials from East Africa and senior executives from international oil companies will meet in Nairobi, Kenya, next week under the aegis of the East African Community (EAC) to consider how to unlock the region's petroleum potential. Full text...

  • Kenya IT managers call for sector diversification
    27 february 2003 14:36:00
    Nairobi- Kenya (PANA) -- Members of the Computer Society of Kenya have called on the country's authorities to revisit the issue of monopoly in the information technology sector, especially the Internet, in the interest of Kenya. Full text...

  • Zimbabwe says will settle IMF arrears
    27 february 2003 13:22:00
    Harare- Zimbabwe (PANA) -- The Zimbabwe government Thursday said that it would resume loan repayments to the International Monetary Fund (IMF) which it suspended two years ago due to lack of foreign currency. Full text...

  • South Africa's 2003 budget hailed across the board
    27 february 2003 10:44:00
    Cape Town- South Africa (PANA) -- There has been positive reaction to Finance Minister Trevor Manuel's 2003 budget presented in Parliament on Wednesday, with most observers agreeing it would boost the economy of South Africa. Full text...

  • Botswana government says poverty is on the decline
    27 february 2003 10:19:00
    Gaborone- Botswana (PANA) -- The government of Botswana has put the incidence of poverty in the southern African country (people living below the poverty line) at 37 percent, down from 47 percent in previous reports. Full text...

  • France grants aid for DRC's reconstruction
    26 february 2003 22:33:00
    Kinshasa- DR Congo (PANA) -- France has granted over 8 million euros for three social and economic reconstruction projects in the Democratic Republic of Congo, it was announced here Wednesday. Full text...

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