Economy -
  • Kenyan sugar farmer starts private mill
    07 march 2005 17:06:00
    Nairobi- Kenya (PANA) -- Disillusioned by the dwindling fortunes of farmers in the sugarcane growing area of western Kenya, a local farmer has come up with a pioneer project that pundits say may help give back the industry some renewed hope. Full text...

  • Spanish ICT companies seek African partners
    07 march 2005 12:30:00
    Madrid- Spain (PANA) -- The Spanish Institute of Foreign Trade (ICEX) has embarked on moves to establish business partnerships with interested companies in Africa in the domain of information and communication technologieis (ICT). Full text...

  • South African deputy president to visit Libya
    07 march 2005 12:07:00
    Pretoria- South Africa (PANA) -- South African Deputy President Jacob Zuma will pay a three-day official visit to Libya starting on Tuesday, ahead of a senior government and business delegation. Full text...

  • COMESA official roots for investment in ICT
    07 march 2005 11:56:00
    Nairobi- Kenya (PANA) -- The Common Market for East and Southern Africa (COMESA) has been urged to formulate elaborate policies and reforms in information Communication and Technology (ICT) to help speed up regional integration, a senior regional official of the grouping has said. Full text...

  • Livestock makes big contribution to Benin's GDP
    07 march 2005 10:22:00
    Cotonou- Benin (PANA) -- Benin's livestock contributes 7 percent of the country's gross domestic product (GDP), according to the Agriculture, Livestock and Fishing (MAEP) Ministry. Full text...

  • Sudan Airways resumes flights to Uganda
    07 march 2005 09:45:00
    Khartoum- Sudan (PANA) -- In what is widely seen as a clear improvement of chequered relations between the two countries, Sudan's national carrier has resumed regular flights between Khartoum and the Ugandan town of Entebbe. Full text...

  • Ghana increases capacity of hydroelectric dam
    07 march 2005 09:18:00
    Accra- Ghana (PANA) -- Ghana has increased the capacity of its hydro-electricdam at Akosombo, about an hour's drive from Accra, after a 120-million dollar rehabilitation of its six turbines besides modernisation of the units. Full text...

  • Algeria expects $1.87bn in foreign investments
    06 march 2005 16:36:00
    Algiers- Algeria (PANA) -- Algeria expects US$1. Full text...

  • Drop in dollar demand raises naira value in Nigeria
    05 march 2005 19:38:00
    Lagos- Nigeria (PANA) -- Demand for dollars dipped slightly at the Nigerian foreign exchange market this week, impacting positively on the exchange rate of the local currency, the naira, against the dollar. Full text...

  • Nigerian govt approves pilot project for Bitumen exploration
    05 march 2005 19:12:00
    Abeokuta- Nigeria (PANA) -- The Nigerian government has approved a pilot project for the exploration of bitumen, beginning with the southwest state of Ogun, according to Solid Development minister Odeon Igbesia. Full text...

  • Sudan's economic growth up 7.2%
    05 march 2005 10:31:00
    Khartoum- Sudan (PANA) -- Sudan's economic growth rate rose to 7. Full text...

  • External connection to endemic corruption in Africa
    05 march 2005 10:11:00
    Dakar- Senegal (PANA) -- It is no news that corruption is so endemic in Africa that countries on the continent now virtually compete for top positions on the global graft chart almost the same way that artistes and film makers jostle for the annual Oscars and Grammy Awards. Full text...

  • Accra bourse slumps in weekend trading
    04 march 2005 22:42:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange (GSE) All-Share Index lost 56. Full text...

  • Trading dips Friday at Abidjan bourse
    04 march 2005 22:33:00
    Abidjan- Côte d'Ivoire (PANA) -- Trading dipped Friday at the Abidjan-based West African Regional Bourse (BRVM), with the all- share index losing 0. Full text...

  • Mali launches new cotton processing firm
    04 march 2005 20:48:00
    Bamako- Mali (PANA) -- Malian President Amadou Toumani Toure has inaugurated the country's new cotton processing firm "BATEX-CI" in Bamako. Full text...

  • Mali to get more development aid from Canada
    04 march 2005 20:02:00
    Bamako- Mali (PANA) -- Canada is to increase its development assistance to Mali threefold to 90 billion FCFA (about 181. Full text...

  • Europe pledges import market expansion for Africa
    04 march 2005 14:48:00
    Mombasa- Kenya (PANA) -- The European Union (EU) on Friday pledged continued funding in order to expand European markets to imports from Africa. Full text...

  • African civil servants to mull over wealth creation
    04 march 2005 13:38:00
    Nairobi- Kenya (PANA) -- African civil servants will convene in the Indian Ocean port city of Mombasa, Kenya on 7 March to discuss the role of central governments in the creation of business friendly environments to facilitate investments and wealth creation. Full text...

  • IMF says Malawi's economy shows signs of improving
    04 march 2005 13:19:00
    Blantyre- Malawi (PANA) -- The International Monetary Fund (IMF) has said there were signs that Malawi's economy was improving with the easing of the domestic debt and expansion in the private sector. Full text...

  • Apex bank nods at merger of 2 Nigerian banks
    04 march 2005 12:02:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) has approved the planned merger between the United Bank for Africa (UBA) and the Standard Trust Bank (STB), two of Nigeria's biggest banks, according to a joint statement from the banks. Full text...

  • Cargo plane catches fire at Congolese airport
    03 march 2005 23:47:00
    Brazzaville- Congo (PANA) -- An Antonov 24 belonging to Trans Air Congo (TAC) caught fire on the runway Thursday afternoon during take-off at the at Impfondo airport 900 km north of Brazzaville, airport sources indicated here, saying the Russian crew members were safe. Full text...

  • Kenyan exporters to get tax waivers
    03 march 2005 20:27:00
    Nairobi- Kenya (PANA) -- The Kenyan government has indicated it would carry on with tax incentives and duty waivers for fresh produce and flower exports, in view of market successes registered in the European Union. Full text...

  • Francophonie business forum opens in Ouagadougou
    03 march 2005 19:28:00
    Ouagadougou- Burkina Faso (PANA) -- International Organisation of the Francophonie (IOF) secretary general Abdou Diouf called Thursday for the cancellation of Africa's debt and the launch of a Marshall Plan to bolster development on the continent. Full text...

  • Ivorian cocoa growers' strike flops
    03 march 2005 18:16:00
    Abidjan- Cote d'Ivoire (PANA) -- A three-day strike by members of the coffee and cocoa growers' trade unions in Cote d'Ivoire was observed mainly by farmers upcountry, an official claimed in Abidjan According to the chairman of the Confederation of Agricultural Trade Unions of Cote d'Ivoire (COSACI), Dali Koffi, even in the regions, the strike did not last more than 24 hours. Full text...

  • Unemployment is major challenge in Algeria - IMF
    03 march 2005 15:57:00
    Algiers- Algeria (PANA) -- International Monetary Fund (IMF) Managing Director Rodrigo de Rato has said that unemployment in Algeria is a major challenge to the government of President Abdelaziz Bouteflika. Full text...

  • South Africa, Turkey sign cooperation agreements
    03 march 2005 15:30:00
    Pretoria- South Africa (PANA) -- South African deputy president Jacob Zuma and visiting Prime Minister Recep Tayyip Erdogan of Turkey Thursday held discussions here and signed various agreements to enhance bilateral cooperation. Full text...

  • NGOs appeal for transparency in Congo's oil sector
    03 march 2005 13:22:00
    Brazzaville- Congo (PANA) -- Congolese NGOs grouped under a coalition called "Reveal what you pay" and their international partners (Global Witness, Secours Catholique France and the Life and Peace Institute) have called for greater transparency in the country's oil sector, local dailies reported here Thursday. Full text...

  • Domestic airlines in Nigeria record 226% growth
    03 march 2005 12:46:00
    Lagos- Nigeria (PANA) -- Domestic airlines in Nigeria have recorded a 226 per cent growth between 1998 and 2004, according to an industry survey undertaken by the private Punch newspaper. Full text...

  • Nigerian miners clash, leaving 50 dead
    03 march 2005 12:22:00
    Lagos- Nigeria (PANA) -- At least 50 persons were feared dead and many more injured on Wednesday during clashes between licensed and unlicensed miners in Komu, a town in Nigeria's southwest Oyo State, according to local press reports here. Full text...

  • Senegalese minister urges greater cooperation with Mali
    02 march 2005 21:29:00
    Dakar- Senegal (PANA) -- Senegalese Foreign minister Cheikh Tidiane Gadio stressed the need here Wednesday for a new impetus in cooperation between Dakar and Bamako. Full text...

  • Moroccan fuel distributors merge
    02 march 2005 21:00:00
    Rabat- Morocco (PANA) -- Two Moroccan fuel distribution companies, Afriquia and Somepi have sealed a "strategic" merger, sources confirmed here Wednesday. Full text...

  • IMF chief in Algeria
    02 march 2005 17:32:00
    Algiers- Algeria (PANA) -- Rodrigo De Rato, Managing Director of the International Monetary Fund (IMF), was received by Algerian President Abdelaziz Bouteflika Wednesday as he began an official visit to the country. Full text...

  • 2005 Ivorian budget drops 12% below 2004 level
    02 march 2005 17:14:00
    Abidjan- Cote d'Ivoire (PANA) -- Ivorian finance minister Paul-Antoine Bohoun Bouabre has announced a draft fiscal budget of 1,734. Full text...

  • Cote d'Ivoire maintains cashew at 150 FCFA/kg
    02 march 2005 16:18:00
    Abidjan- Cote d'Ivoire (PANA) -- The farm gate price of a kilo of cashew nuts for the 2005 season has been maintained at 150 FCFA, according to a ruling issued here Tuesday by the Cotton and Cashew Regulatory Authority (ARECA). Full text...

  • Nigeria to host seminar on African energy resources
    02 march 2005 16:05:00
    Lagos- Nigeria (PANA) -- Sixty-five experts from Africa, Europe and the US are expected to attend an international seminar on energy resources and security in the Nigerian capital, Abuja from 6-11 March. Full text...

  • Nigeria pays $42 billion interest on $13b loan
    02 march 2005 15:54:00
    Lagos- Nigeria (PANA) -- Nigeria has paid about US$42 billion to the Paris Club of creditors in the past 38 years as interest and penalties accrued on the country's $13. Full text...

  • Japan pledges more development funding to Kenya
    02 march 2005 15:16:00
    Nairobi- Kenya (PANA) -- After expressing satisfaction over the implementation of public projects in Kenya, the Japanese government has pledged to continue funding development projects in the east African country. Full text...

  • Shilling's appreciation worries Kenyan flower exporters
    02 march 2005 15:05:00
    Nairobi- Kenya (PANA) -- Fresh flowers and vegetable exporters in Kenya Wednesday expressed concern over the strengthening of the local Shilling against the US dollar, saying this would negatively impact on the price of fresh flower and vegetable exports to Europe. Full text...

  • African banana sales increase in Europe
    01 march 2005 23:05:00
    Brussels- Belgium (PANA) -- The import by Europe of bananas from African, Caribbean and Pacific (ACP) countries, particularly Cameroon surged 83% between 1999 and 2003, a report indicated here Monday, noting that ACP countries account for 37% of EU banana imports. Full text...

  • Fuel prices up in Angola
    01 march 2005 20:39:00
    Luanda- Angola (PANA) -- Fuel prices went up Tuesday for the second within two weeks with a litre of petrol rising from 37. Full text...

  • Rawlings joins anti-fuel price hike in Ghana
    01 march 2005 18:26:00
    Accra- Ghana (PANA) -- Thousands of Ghanaians, including former President John Rawlings Tuesday staged a three-hour demonstration in Accra against a 50-percent increase in the price of petroleum products and high cost of living in the country. Full text...

  • Kenya railways firm to sack 7,000 workers
    01 march 2005 17:52:00
    Nairobi- Kenya (PANA) -- State-owned Kenya Railways Company will dismiss 7,000 workers once an ongoing International Finance Corporation (IFC)-led concessioning process reverts the company into a private firm, Kenya Railways officials said on Tuesday. Full text...

  • Kenyan police seize fake dollars
    01 march 2005 17:31:00
    Nairobi- Kenya (PANA) -- Kenyan police on Tuesday seized counterfeit 100-dollar bills amounting to $1,732,600 in Nairobi, arresting three suspects in the process following three months of investigations into a group of fake currency dealers, police sources said. Full text...

  • WTO: Africa asks rich nations for concrete actions
    01 march 2005 15:39:00
    Nairobi- Kenya (PANA) -- As they prepare for the forthcoming World Trade Organisation (WTO) mini-ministerial talks, African ministers on Tuesday amplified pressure on their rich partners to give "concrete action [and] not bankable promises" to avoid a global trade showdown. Full text...

  • Kenya apex bank predicts 'modest' growth in 2005
    01 march 2005 13:51:00
    Nairobi- Kenya (PANA) -- The Central Bank of Kenya (CBK) has predicted a "modest" three per cent economic growth in 2005, up from 2. Full text...

  • France provides 5.2mn euros in aid to Mauritania
    01 march 2005 13:35:00
    Nouakchott- Mauritania (PANA) -- Mauritania and France have signed two agreements to fund rural development projects in the African nation, official sources said here Tuesday. Full text...

  • Japan grants over 3 billion CFA in food aid to Niger
    01 march 2005 12:57:00
    Niamey- Niger (PANA) -- Japan has granted over 3 billion FCFA to support Niger's food security, an official source revealed in Niamey Tuesday. Full text...

  • Turnover rises at Nairobi bourse
    01 march 2005 12:26:00
    Nairobi- Kenya (PANA) -- Spurred on by the sale of Mumias Sugar Company shares, the turnover at the Nairobi Stock Exchange (NSE) on Tuesday rose to 76 million shillings on a volume of 3. Full text...

  • IMF boss pats Morocco on economic reforms
    01 march 2005 11:27:00
    Rabat- Morocco (PANA) -- International Monetary Fund (IMF) managing director Rodrigo De Rato is "greatly encouraged" by Morocco's efforts to further integrate into the world economy and undertake structural reforms to make the economy more competitive. Full text...

  • Tanzanian leader decries vandalism, economic sabotage
    01 march 2005 10:03:00
    Dar es Salaam- Tanzania (PANA) -- Tanzanian president Benjamin Mkapa has expressed "deep concern" over rising vandalism that amount to economic sabotage of public infrastructures in the country. Full text...

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