Economy -
  • S. Africa's World Cup bid win a boon for trumpet maker
    19 may 2004 15:12:00
    Cape Town- South Africa (PANA) -- The manufacturer of the new symbol of South Africa's World Cup victory, the "vuvuzela" trumpet, has already received a flood of calls since Saturday from companies looking to place orders for his product. Full text...

  • Awori lauds ADB support to Kenya
    19 may 2004 15:06:00
    Nairobi- Kenya (PANA) -- Vice President Moody Awori Wednesday praised the African Development Bank (ADB) for its continued funding of development programmes in Kenya, noting that the bank infused over US$548 million dollars in the East African nation in 40 years. Full text...

  • Japanese eye Mauritania's mining sector
    19 may 2004 14:21:00
    Nouakchott- Mauritania (PANA) -- A delegation from the Japanese Bank for International Cooperation and the MITSUI Company is in Mauritania to explore avenues of collaboration in the country's mining sector, President Maaouya Ould Sid'Ahmed Taya and the Japanese delegation have already held a meeting here, sources revealed to PANA Wednesday. Full text...

  • Low Trading at Nairobi Bourse
    19 may 2004 13:36:00
    Nairobi- Kenya (PANA) -- There was a sharp drop in trade at the Nairobi Stock Exchange (NSE) Wednesday as turnover dropped to 51 million Kenya shillings from 131 million shillings registered the previous day. Full text...

  • Morocco to attend African finance ministers' forum
    19 may 2004 12:41:00
    Rabat- Morocco (PANA) -- Morocco will attend the 37th session of the Conference of African Ministers of Finance, Planning and Economic Development slated for 21-22 May in Kampala, Uganda under the auspices of the UN Economic Commission for Africa (UNECA). Full text...

  • Tunisia improves roads ahead of summer vacation
    19 may 2004 11:55:00
    Tunis- Tunisia (PANA) -- Ahead of the busy summer vacation, Tunisie-Autoroute, the state-owned company in charge of highways in Tunisia had indicated it was investing an undisclosed amount of money widen the Hammam-Lif-Hammamet highway. Full text...

  • CEEAC envisages Central African electricity network
    19 may 2004 11:47:00
    Libreville- Gabon (PANA) -- The Libreville-based Economic Community of Central African States (CEEAC) issued a call to tender Tuesday for feasibility studies on the interconnection of electricity grids in the sub-region with a view to improving access to energy. Full text...

  • Congo forgoes $210 million owed by French oil company
    19 may 2004 07:56:00
    Paris- France (PANA) -- An official of the International Federation of Human Rights Leagues (FIDH), Isabelle Gourmelon has decried the acquiescence of the Congolese government to forgo the bulk of a 300-million dollar debt owed by the French oil company Total. Full text...

  • UEMOA Ministers meet in Cotonou
    18 may 2004 20:12:00
    Cotonou- Benin (PANA) -- Benin Finance Minister Gregoire Laourou, Tuesday in Cotonou opened the West African Economic and Monetary Union (UEMOA) Council of Ministers meeting. Full text...

  • Korean firm targets expanded African market
    18 may 2004 16:53:00
    Nairobi- Kenya (PANA) -- LG Electronics, a leading Korean electronics firm, has disclosed plans to establish a regional office in Kenya as part of its African market expansion program. Full text...

  • Norway pledges $36m grant to Zambia
    18 may 2004 14:44:00
    Lusaka- Zambia (PANA) -- Norway has pledged 36-million-US dollar grant to Zambia for 2004 to assist the Southern African nation develop its current programmes on education, roads, infrastructure, agriculture, wildlife, good governance and human rights, the Norwegian ambassador to Zambia, Halvard Lesteberg, said in Lusaka Tuesday. Full text...

  • Fuel prices up in Burundi
    18 may 2004 14:07:00
    Bujumbura- Burundi (PANA) -- The Burundi Trade ministry has raised the prices of petroleum products in the country by between 10 and 15 percent citing increases in oil prices on the world market. Full text...

  • Nigeria reaps windfall from high oil prices
    18 may 2004 13:09:00
    Lagos- Nigeria (PANA) -- Nigeria has realised more than 108 billion naira as excess earnings from the current high prices of crude oil, local press reports Tuesday quoted Finance Minister Ngozi Okonjo-Iweala as saying. Full text...

  • Amoako takes swipe at "blind liberalisation" in Africa
    18 may 2004 12:08:00
    Kampala- Uganda (PANA) -- The executive secretary of the UN Economic Commission for Africa (UNECA), Kingsley Amoako conceded here Tuesday that whereas countries on the continent had yielded to donor pressure and extensively liberalised their economies, expected benefits were not forthcoming. Full text...

  • Uganda's All Shares Index dips 11%
    18 may 2004 12:06:00
    Kampala- Uganda (PANA) -- Trading in equities at the Uganda Securities Exchange (USE) opened this week on low as the All Share Index dropped 11. Full text...

  • Experts lay ground for meeting of African Finance ministers
    18 may 2004 11:08:00
    Kampala- Uganda (PANA) -- Experts began meeting here Tuesday ahead of the 37th session of the UN Economic Commission for Africa (UNECA), which will on 21 and 22 May hold concomitantly with the 28th session of the Conference of African Finance, Planning and Economic Development ministers. Full text...

  • South Korea yearns to invest in Angola
    18 may 2004 10:39:00
    Luanda- Angola (PANA) -- South Korean Trade Minister Yun Hwang said Monday in Luanda that his country was willing to invest in the computer sector and in the exploitation of natural resources in Angola. Full text...

  • Burkina Faso, Ghana discuss transport cooperation
    18 may 2004 10:06:00
    Ouagadougou- Burkina Faso (PANA) -- A Ghanaian delegation led by Ports and Railway Minister Ameyaw Akumfi began consultations Monday with Burkinabe authorities on cooperation in the field of transport, with emphasis on a railway project to link Ouagadougou to Kumasi, Ghana. Full text...

  • Niger to sign new programme with IMF
    18 may 2004 09:50:00
    Paris- France (PANA) -- Niger is expecting to sign a new economic programme with the International Monetary Fund (IMF) in July, Finance Minister Mahamane Lamine Zene has said. Full text...

  • Tunisia lures Arab tourists
    18 may 2004 09:30:00
    Tunis- Tunisia (PANA) -- Tunisia recently organised meeting of travel, tourism and hotel professionals in Jeddah as part of moves to lure more tourists from Saudi Arabia and other GCC states. Full text...

  • SITEL launches first mobile phone made in Algeria
    17 may 2004 23:38:00
    Algiers- Algeria (PANA) -- A new mobile telephone produced by the National Telecommunications Company (SITEL), the first of its kind in Algeria, was commercialised Monday at the price of 9,000 DA ($1200), the director general of the enterprise, Amine Baghli announced. Full text...

  • Mauritius, European Union sign new fishing pact
    17 may 2004 22:48:00
    Brussels- Belgium (PANA) -- The European Union and Mauritius signed a four-year fishing agreement covering 3 December 2003 to 2 December 2007, according to a communiqué published Monday in Brussels. Full text...

  • Zimbabwe gold output increases
    17 may 2004 18:16:00
    Harare- Zimbabwe (PANA) -- Zimbabwe said Monday gold production in the first quarter had increased to 5. Full text...

  • Kenya gets audit panel to curb corruption
    17 may 2004 18:10:00
    Nairobi- Kenya (PANA) -- The Kenyan government Monday launched a National Audit Commission to monitor public expenditure and help curb corruption. Full text...

  • Uganda signs 5-year deal with electricity firm
    17 may 2004 16:42:00
    Kampala- Uganda (PANA) -- The Ugandan government Monday signed a concession with a British-South African group to operate the Uganda Electricity Distribution Company (UEDCL) for the next five years. Full text...

  • Mozambique plans revision of labour laws
    17 may 2004 16:03:00
    Maputo- Mozambique (PANA) -- Mozambique's Labour Ministry plans a round of consultations to produce guidelines for the revision of the country's labour laws, national news agency, AIM reported Monday. Full text...

  • Mauritania, Canada hold forum on economic ties
    17 may 2004 15:47:00
    Nouakchott- Mauritania (PANA) -- A forum on the promotion of economic and commercial ties between Mauritania and Canada continued Monday with a number of businessmen from the two countries exchanging views. Full text...

  • Mauritian fishermen make demands to government
    17 may 2004 15:30:00
    Port Louis- Mauritius (PANA) -- Fishermen here Monday petitioned Prime Minister Paul Berenger for compensation and a pension scheme as industrial pollution takes its toll on the lagoon that provides income for them. Full text...

  • Kenya to divest from largest state-owned bank
    17 may 2004 15:11:00
    Nairobi- Kenya (PANA) -- The Kenyan government plans to relinquish part of its 35 percent stake in the largest state-owned bank, Kenya Commercial Bank (KCB), Finance Minister David Mwararia has disclosed. Full text...

  • International tourism show opens in Algiers
    17 may 2004 12:38:00
    Algiers- Algeria (PANA) -- The 6th edition of the International Tourism and Travels Show (SITEV) opened here Monday with participants from 52 countries in the Americas, Africa, Asia, Europe and the Middle East. Full text...

  • IMF takes the pulse of economic reform in Kenya
    17 may 2004 11:00:00
    Nairobi- Kenya (PANA) -- A mission from the International Monetary Fund (IMF), led by Geoffrey Kalinga is in Kenya to discuss the status of the country's current loan facility. Full text...

  • Algeria envisions 7% growth rate in next 5 years
    17 may 2004 10:32:00
    Algiers- Algeria (PANA) -- Trends show economic growth in Algeria averaging 7 percent in the next five years, according presidential economic adviser Abdelahamid Temmar. Full text...

  • Mauritania, Canada step up cooperation
    17 may 2004 10:06:00
    Nouakchott- Mauritania (PANA) -- A Canadian delegation led by the director of the Francophone Forum for the Development of Canadian Economic Relations, Richard Darveau arrived here late Saturday on a three-day visit, official sources affirmed. Full text...

  • Kadhafi, Toure inaugurate Amitie Hotel in Bamako
    16 may 2004 14:13:00
    Tripoli- Libya (PANA) -- Libyan leader Moammar Kadhafi and Malian President Amadou Toumani Toure have inaugurated the Amitie Hotel of Bamako built with funding from the Libyan Company for African Investments. Full text...

  • International tourism fair kicks off in Tunis
    16 may 2004 11:10:00
    Tunis- Tunisia (PANA) -- About 162 exhibitors are attending the International Mediterranean Tourism Market (MIT), one of the region's largest travel and hotel exhibitions, that kicked off here Saturday, organisers have said. Full text...

  • Govt denies privatisation of Sudan Airways
    16 may 2004 10:24:00
    Khartoum- Sudan (PANA) -- Authorities here have denied the government planned to privatise the state-owned Sudan Airways or retrench its staff. Full text...

  • Two buyers bid for old Air-Algérie jets
    15 may 2004 19:58:00
    Algiers- Algeria (PANA) -- Cyprus-based Guardian Transport United and Air Libya have formalised offers to acquire old planes from Air-Algérie. Full text...

  • Nigerian Naira picks up against US dollar
    15 may 2004 15:48:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira appreciated against the US dollar at the last session of the official Dutch Auction System (DAS) segment of the foreign exchange market this week, closing at 133. Full text...

  • ECOWAS interconnects national units to boost integration
    15 may 2004 15:28:00
    Lagos- Nigeria (PANA) -- ECOWAS has launched a programme to interconnect all units responsible for community affairs in member States into a computer network, an ECOWAS statement said. Full text...

  • Kenyan VP urges private sector to boost job creation
    15 may 2004 15:05:00
    Nairobi- Kenya (PANA) -- Kenyan Vice-President Moody Awori has called on the private sector worldwide to assist governments in job creation. Full text...

  • Inflation falls sharply in Zimbabwe
    15 may 2004 13:44:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's year-on-year inflation fell by 78. Full text...

  • Nigerian bourse ends week bullish
    15 may 2004 12:15:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) was bullish this week with some 267 million shares worth 7. Full text...

  • Rwanda organises second investment conference
    14 may 2004 23:25:00
    Kigali- Rwanda (PANA) -- Rwandan president Paul Kagame personally opened the country's second annual investment conference here Thursday, with emphasis on road construction, energy and privatisation. Full text...

  • Benin, Egypt join NEPAD peer review mechanism
    14 may 2004 22:24:00
    Paris- France (PANA) -- Benin and Egypt have joined the peer review mechanism of the New Partnership for Africa's Development (NEPAD), bringing to 18 the number of countries that have signed up for to assessment under the scheme, review panel chair Marie- Angelique Savane told PANA here Friday. Full text...

  • Madagascar to take up SADC membership
    14 may 2004 21:53:00
    Paris- France (PANA) -- Prime Minister Jacques Sylla currently on a visit to France affirmed here Friday that Madagascar would join the Southern African Development Community (SADC) next August. Full text...

  • BCEAO governor urges Africa forge peace
    14 may 2004 21:44:00
    Paris- France (PANA) -- The governor of the Central Bank of West African States (BCEAO), Charles Konan Banny has urged African nations to invest in peace, insisting it was fundamental to development. Full text...

  • Ghana bourse ends week high
    14 may 2004 19:04:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange ended another week of good performance closing 56 points higher with traded volumes also rising above 1. Full text...

  • Ghana, Qatar sign four economic co-operation pacts
    14 may 2004 18:19:00
    Accra- Ghana (PANA) -- Ghana Friday signed four agreements with oil-rich Qatar for the establishment of trade, investments relations and deeper economic ties as part of Ghanaian Vice-President Aliu Mahama's official visit to the Gulf-State. Full text...

  • Ghana stocks perform better this week
    14 may 2004 18:19:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange ended another week on a high note, closing 56 points higher than last week, with traded volumes rising above 1. Full text...

  • Kenyan Finance Minister laments stalled donor aid inflows
    14 may 2004 16:30:00
    Nairobi- Kenya (PANA) -- Finance Minister David Mwiraria Friday expressed concern over the failure of donors to provide the US$4. Full text...

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