Economy -
  • Ghana registers more investment in second quarter
    14 october 2004 22:24:00
    Accra- Ghana (PANA) -- The Ghana Investment Promotion Centre (GIPC) registered 47 projects with foreign participation, with a capital outlay of 24. Full text...

  • Chinese, Algerian businesses sign contracts
    14 october 2004 21:30:00
    Algiers- Algeria (PANA) -- Algerian and Chinese companies signed contracts totalling 340 million US dollars at the end of their first economic forum held this week in Algiers, official sources disclosed here Thursday. Full text...

  • Dakar to host meeting on sub-contracting
    14 october 2004 20:29:00
    Dakar- Senegal (PANA) -- The first international meeting on sub- contracting and partnership in West Africa (STEP 2005) will hold 25-29 January 2005 in Dakar, Senegal's National Sub-contracting and Partnership Board (BNSTP) indicated Thursday at a news conference. Full text...

  • Mauritius revises economic growth rate for 2004
    14 october 2004 18:31:00
    Port-Louis- Mauritius(PANA) -- Mauritius recorded an annual economic growth of 4. Full text...

  • World Bank supports energy, sanitation projects in Sierra Leone
    14 october 2004 16:03:00
    Freetown- Sierra Leone (PANA) -- The World Bank has approved a loan of 35 million US dollars for Sierra Leone to improve the country's energy, sanitation and water supply systems, a statement by the Bank said Thursday. Full text...

  • Malawi police arrest 16 over land clashes
    14 october 2004 15:33:00
    Blantyre- Malawi (PANA) -- Authorities in the southern Malawi tea-growing district of Thyolo have arrested 16 people, most of them women, following violent clashes among villagers over a land dispute. Full text...

  • Uganda bank withdrawing old banknote
    14 october 2004 15:24:00
    Kampala- Uganda (PANA) -- Uganda's central bank (BOU) has begun to remove from circulation used 10,000 shillings banknote introduced in 1995 and 1998 due to increased forgery of the currency. Full text...

  • Firm to pay 150 CFA francs for a kg of rubber
    14 october 2004 10:57:00
    Libreville- Gabon (PANA) -- Gabon's Tropical Agricultural Investment Company (SIAT Gabon), a local branch of Belgium's SIAT group, has told local farmers that it would buy rubber from them at 150 CFA francs per kilogramme, official sources have said. Full text...

  • Consumer prices drop in Niger
    13 october 2004 22:52:00
    Niamey- Niger (PANA) -- The harmonised consumer price index in Niger posted 115. Full text...

  • IMF, World Bank back reforms in Niger
    13 october 2004 22:25:00
    Niamey- Niger (PANA) -- The International Monetary Fund (IMF) and the World Bank will support moves by the Niger government to initiate new economic and financial reforms, IMF and World Bank spokesperson Emmanuel Pinto told reporters here Wednesday. Full text...

  • Australian firm strikes oil in Mauritania
    13 october 2004 20:57:00
    Nouakchott- Mauritania (PANA) -- Australian oil company, Woodside has discovered a new offshore oil deposit in its prospecting area in Mauritania, sources at the company said in Nouakchott Wednesday. Full text...

  • Kenyan officials scoff at UN graft score
    13 october 2004 20:41:00
    Nairobi- Kenya (PANA) -- The Kenyan government has described a UN report, which ranked the country among the most corrupt in Africa as "astonishing and totally flawed". Full text...

  • DR Congo Central Bank props exchange rate with US$25 million
    13 october 2004 20:27:00
    Kinshasa- DR Congo (PANA) -- The DR Congo Central Bank, BCC is providing commercial banks in the country with some 25 million US dollars to help stabilise the exchange rate market, the BCC said in a statement Wednesday. Full text...

  • Ghana records more investment in second quarter of the year
    13 october 2004 19:03:00
    Accra- Ghana (PANA) -- The Ghana Investment Promotion Centre (GIPC) said Wednesday it registered 47 projects involving foreign participation with capital outlay of 24. Full text...

  • Accra bourse down Wednesday
    13 october 2004 18:24:00
    Accra- Ghana (PANA) -- A 500-cedi loss by Ghana Commercial Bank (GCB) Wednesday dragged down trading at the Ghana Stock Exchange (GSE) despite a good performance by Fan Milk Limited (FML). Full text...

  • Britain increases aid to Mozambique
    13 october 2004 17:46:00
    Maputo- Mozambique (PANA) -- British aid to Mozambique will reach 80 million US dollars in 2005, representing an increase of 30 million dollars over the 2004 figure, the British High Commissioner to Mozambique, Howard Parkinson said. Full text...

  • Air Zimbabwe reveals revival plan
    13 october 2004 16:35:00
    Harare- Zimbabwe (PANA) -- A top government official in Zimbabwe said Wednesday national air carrier, Air Zimbabwe will launch new regional and international routes shortly as part of an expansion and growth strategy. Full text...

  • Tourism on the rise in North Africa
    13 october 2004 10:45:00
    Tunis- Tunisia (PANA) -- Tourism in the Maghreb is growing rapidly after a post 11 September 2001 slump prompted by fear and assumptions that North Africans were linked to international terror attacks. Full text...

  • SA trade union Solidarity calls for lower interest rates
    13 october 2004 08:12:00
    Cape Town- South Africa (PANA) -- The trade union Solidarity has asked the government for a further reduction in the interest rate, noting that there was "no sign of an imminent increase" in the inflation rate. Full text...

  • UAE company to operate free zones at Tangiers port
    12 october 2004 21:48:00
    Rabat- Morocco (PANA) -- A UAE company is to exploit and commercialise the industrial free zones at the port of Tangiers in northern Morocco, under a contract signed there between the two parties, sources confirmed here Tuesday. Full text...

  • 17% of DR Congo roads in good shape
    12 october 2004 20:52:00
    Kinshasa- DR Congo (PANA) -- Only 17 percent or 6,200-km of DR Congo's estimated 30,516-km roads are in good shape, according to a report by the Road maintenance and rehabilitation Office. Full text...

  • Nigeria govt puts 2005 budged at 1.619 trillion naira
    12 october 2004 20:10:00
    Lagos- Nigeria (PANA) -- The federal government in Nigeria has proposed a budget of 1. Full text...

  • Zimbabwe increases mineral earnings
    12 october 2004 20:06:00
    Harare- Zimbabwe (PANA) -- The state-owned minerals marketing agency said Tuesday that Zimbabwe raked in 336 million US dollars from mineral exports in the first eight months of the year, close to last year's total annual revenue of 384 million dollars. Full text...

  • Malawi To Save 1.5bn Kwacha From Fiscal Measures
    12 october 2004 15:07:00
    Blantyre- Malawi (PANA) -- The Malawi government expects to save over 1. Full text...

  • Malawi apex bank halts move to cut reserve ratio
    12 october 2004 13:34:00
    Blantyre- Malawi (PANA) -- Malawi's central bank, the Reserve Bank of Malawi, will not cut the Liquidity Reserve Requirement (LRR) as one measure to control inflation projected to hit 20 percent by December. Full text...

  • African leaders hail BCEAO performance
    12 october 2004 10:59:00
    Niamey- Niger (PANA) -- An extraordinary summit of heads of states and governments in the West African Economic and Monetary Union (UEMOA) held here has commended the performance made by the Central Bank of West African States (BCEAO). Full text...

  • High oil prices afffect consumer sub-Saharan nations
    12 october 2004 09:30:00
    Addis Ababa- Ethiopia (PANA) -- Though oil consuming sub-Sahara African countries have so far managed to absorb the shock of the soaring oil price through foreign reserves, they were likely to experience a welfare loss if the price scales fresh heights, a top World bank executive warned. Full text...

  • Niamey summit reaffirms support to UEMOA REP programme
    11 october 2004 23:19:00
    Niamey- Niger (PANA) -- Heads of state and government of the West African Economic and Monetary Union (UEMOA) who met here Monday, reaffirmed their attachment to the Union's Regional Economic Programme (REP). Full text...

  • Nigerian organises trade exhibition in Liberia
    11 october 2004 21:28:00
    Monrovia- Liberia (PANA) -- A week-long exhibition of goods made in Nigeria kicked off here Monday, with Acting Liberian Trade minister Mustapha Kamara describing it as a "milestone" in trade links between the two countries. Full text...

  • Zimbabwean company plans huge investment in platinum
    11 october 2004 19:29:00
    Harare- Zimbabwe (PANA) -- Zimplats, Zimbabwe's leading platinum mining company, said Monday it planned to invest over 700 million US dollars in the next few years to boost platinum output at its existing mines in the country. Full text...

  • Limpopo rail line linking Mozambique with Zimbabwe rehabilitated
    11 october 2004 18:26:00
    Chokwe- Mozambique (PANA) -- The rehabilitation of the 534-km Limpopo rail line, linking Mozambique's Maputo port to Zimbabwe, would help stimulate long-term economic development through the creation of more jobs in Mozambique, according to Transport Minister Tomas Salomao. Full text...

  • 13 Mozambican customs officials arrested over alleged fraud
    11 october 2004 17:25:00
    Maputo- Mozambique (PANA) -- Thirteen treasurers of the Mozambican customs services working at various terminals in the southern region of the country are under investigation over alleged theft of about 18,000 US dollars, national news agency, AIM reported Monday. Full text...

  • Egyptian investor enters coffee partnership in Uganda
    11 october 2004 17:17:00
    Kampala- Uganda (PANA) -- An Egyptian investor and the Uganda government have signed a $500 million coffee export and processing venture in Egypt. Full text...

  • Zimbabwe paying Mozambique regularly for energy supply
    11 october 2004 16:57:00
    Maputo- Mozambique (PANA) -- Zimbabwe's electricity company (ZESA) will respect the schedule of payment of its 8. Full text...

  • Air Zimbabwe reintroduces flights to DR Congo
    11 october 2004 07:24:00
    Harare- Zimbabwe (PANA) -- State carrier Air Zimbabwe Monday resumed flights to DR Congo after suspending them two years ago over contractual disputes with a Congolese partner. Full text...

  • Labour leader says Nigeria strike will be total
    10 october 2004 20:27:00
    Lagos- Nigeria (PANA) -- Adams Oshiomhole, President of the Nigeria Labour Congress (NLC), vowed Sunday that the four-day strike by the union and its civil society partners starting Monday over fuel price hike by government, would be total. Full text...

  • EU-Algeria Agreement goes into force at year end
    10 october 2004 18:23:00
    Algiers- Algeria (PANA) -- The Association Agreement signed in 2001 in Valence (Spain) between Algeria and the European Union (EU) will go into force at the end of 2004, an Algerian official said in Algiers. Full text...

  • Zimbabwe paying its debts to Mozambique, says Chissano
    10 october 2004 17:02:00
    Maputo- Mozambique (PANA) -- Zimbabwe is now paying off debts owned Mozambican companies, according to President Joaquim Chissano. Full text...

  • Row simmers over certification of Africa's organic coffee
    10 october 2004 14:39:00
    Entebbe- Uganda (PANA) -- A row simmering between coffee farmers and their buyers threatens the future of organic coffee production in Africa, as none of the stakeholders wants to help the farmers foot bills for certifying the beans before export. Full text...

  • Nigeria naira depreciates slightly against dollar
    10 october 2004 13:18:00
    Lagos- Nigeria (PANA) -- ZCZC \par\pard\ql\ltrpar\rtlch\ltrch\f0\fs20\b0\i0 . Full text...

  • Nigeria loses N4 billion to fraudsters
    10 october 2004 12:30:00
    Lagos- Nigeria (PANA) -- The Nigerian financial sector has lost four billion naira to fraudsters in the past two years, Nuhu Ribadu, chief executive of the country's Economic and Financial Crimes Commission, said in Abuja at the weekend (N133 = 1 USD). Full text...

  • ACP States Reject EU Sugar Proposals
    09 october 2004 13:20:00
    Dakar- Senegal (PANA) -- African, Caribbean and Pacific (ACP) States that are signatory to a Sugar Protocol with the European Commission (EC) have unanimously rejected reforms proposed by the EC in the sector. Full text...

  • Mozambican trade union rejects "regional minimum wages" system
    08 october 2004 18:59:00
    Maputo- Mozambique (PANA) -- Mozambique's main trade union federation, OTM, has rejected proposals for "regional minimum wages," as against a national statutory minimum wage system. Full text...

  • Angola threatens tough action against illegal diamond miners
    08 october 2004 14:50:00
    Lusaka- Zambia (PANA) -- Angola has threatened tough new measures against illegal diamond miners in the country, especially foreigners. Full text...

  • Egypt, DR Congo to intensify energy co-operation
    08 october 2004 14:20:00
    Kinshasa- DR Congo (PANA) -- Egypt and DR Congo have agreed to strengthen co-operation in the field of electricity energy, visiting Egyptian deputy Energy Minister Samir Ezz, has said in Kinshasa. Full text...

  • NEPAD meeting to be held next week in Gabon
    08 october 2004 08:26:00
    Libreville- Gabon (PANA) -- A meeting on the implementation of the New Partnership for Africa's Development (NEPAD) in Central Africa will be held from 14 to 15 October in Libreville, sources close to the Gabonese ministry of trade in charge of NEPAD told PANA. Full text...

  • Costly equipment hinders satellite TV broadcast in Africa
    07 october 2004 20:49:00
    Kenya- Nairobi (PANA) -- The high cost of equipment is inhibiting the widespread use of satellite technology in television broadcasting in Africa, industry players meeting here Thursday have revealed. Full text...

  • IMF closes office in Zimbabwe
    07 october 2004 16:49:00
    Harare- Zimbabwe (PANA) -- The International Monetary Fund (IMF) Thursday announced it was shutting down its office in Zimbabwe, saying future relations with the southern African country would be conducted via the head office in Washington D. Full text...

  • Chissano urges Mozambicans to fight corruption
    07 october 2004 16:34:00
    Inhambane- Mozambique (PANA) -- Mozambican President Joaquim Chissano has called on leaders at all levels in the country to fight corruption, as part of ongoing public sector reforms. Full text...

  • Inflation rate drops by one percent in Zambia
    07 october 2004 13:24:00
    Lusaka- Zambia (PANA) -- Zambia's annual rate of inflation dropped by 1. Full text...

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