Economy -
  • Debt cancellation is technically possible, says NGO
    14 december 2001 23:21:00
    Paris- France (PANA) -- The cancellation of all debts owed to the north by developing countries, notably African nations, is technically possible and economically feasible, participants at a discussion day organised by the Committee for the Cancellation of the Third World's Debt (CADTM) said in Paris. Full text...

  • Burundians cautioned to take donor pledges with pinch of salt
    14 december 2001 23:18:00
    Bujumbura- Burundi (PANA) -- President Pierre Buyoya has reminded his compatriots that some 830 million US dollars expected from donors following a last week's conference on Burundi, was "only a promise that may be realised quickly or not at all, wholly or partially. Full text...

  • Critics note disharmony in cooperation between Cameroon, Japan
    14 december 2001 23:02:00
    Yaounde- Cameroon (PANA) -- Bilateral relations between Cameroon and Japan have been anything but harmonious in the last three decades. Full text...

  • Tunisia gets 200 million-dollar ADB grant
    14 december 2001 22:08:00
    Tunis- Tunisia (PANA) -- The African Development Bank (ADB) has granted Tunisia a loan of 200 million US dollars to fund a Business Support Programme (PAC), the media reported Friday in Tunis. Full text...

  • Zambian company stays commissioning of processing plant
    14 december 2001 20:49:00
    Lusaka- Zambia (PANA) -- In the face of technical problems, Zambia's cobalt processing company, Chambishi Metals Plc, has further delayed the full commissioning of its smelter to the first quarter of next year. Full text...

  • Daily equities trading at Nigerian Stock Exchange
    14 december 2001 19:35:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigerian Stock Exchange for Friday: 1st Tier Securities Sector/Company Value of Share AGRICULTURE Okomu Oil Palm Plc 9. Full text...

  • Bank of Zambia tries to shore up kwacha
    14 december 2001 16:49:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia was back in the foreign exchange market Friday with a parcel of one million US dollars for sale in a last ditch bid to hold the local unit in check from depreciating against major convertible currencies. Full text...

  • DR Congo to get Belgian diamond certifying equipment
    14 december 2001 11:25:00
    Kinshasa- DR Congo (PANA) -- A Belgian delegation of diamond experts is expected in Kinshasa soon to install equipment for the certification of the precious stone. Full text...

  • Mali received 50,000 more tourists in 2001
    14 december 2001 09:21:00
    Bamako- Mali (PANA) -- About 150,000 tourists visited Mali in 2001, an increase of 50,000 above the previous year's figure, the country's tourism and hotel office reported Thursday. Full text...

  • Benin, Netherlands sign investment protection accord
    13 december 2001 23:18:00
    Cotonou- Benin (PANA) -- Benin and the Netherlands Thursday signed in Cotonou, an agreement for mutual promotion and protection of investments. Full text...

  • Wall Street says Mauritian economy is "mostly unfree"
    13 december 2001 23:06:00
    Port Louis- Mauritius (PANA) -- The 2002 index of economic freedom released by the Heritage Foundation and the Wall Street Journal in the US has placed the Mauritian economy in the "mostly unfree" category, ranking it at 73rd on a list of 156, the regional MATERA news agency reported Thursday. Full text...

  • Namibia's Chamber of Commerce finances improve
    13 december 2001 22:36:00
    Windhoek- Namibia (PANA) -- The precarious financial situation of the Namibia Chamber of Commerce and Industry (NCCI) has been turned around successfully, chamber president Leake Hangala confirmed Thursday. Full text...

  • Ghana gets 25 million-Euro grant from the Netherlands
    13 december 2001 21:26:00
    Accra- Ghana (PANA) -- The Netherlands Thursday granted Ghana 25 million-Euros (about 161 billion cedis) as Balance of Payments support for the 2002 budget. Full text...

  • Niger gets Belgian grant to pay salary arrears
    13 december 2001 21:09:00
    Niamey- Niger (PANA) -- Belgium has given Niger a grant of 6. Full text...

  • "Maybe Enron was the problem" - Mozambique PM
    13 december 2001 20:45:00
    Maputo- Mozambique (PANA) -- The Mozambican government believes that other investors can be found for the Maputo Iron and Steel Project (MISP) despite the collapse of the US energy corporation Enron, which was behind the project. Full text...

  • Burkina Faso gets Dutch grants
    13 december 2001 20:37:00
    Ouagadougou- Burkina Faso (PANA) -- The Netherlands and Burkina Faso have signed two financial agreements for grants to the latter totalling 8. Full text...

  • Cape Verde opposition rejects 2002 finance bill
    13 december 2001 20:21:00
    Praia- Cape Verde (PANA) -- MPs of Cape Verde's opposition Movement for Democracy (MPD) have voted against the 2002 finance bill tabled by the government. Full text...

  • NSE daily equities trading
    13 december 2001 20:10:00
    Lagos- Nigeria (PANA) -- A total of 10. Full text...

  • Namibia gets loan from European Investment Bank
    13 december 2001 20:04:00
    Brussels- Belgium (PANA) -- The European Investment Bank (EIB) has granted Namibia a loan of 35 million Euros (about 31. Full text...

  • Nigeria gets Committee on Investment
    13 december 2001 19:51:00
    Lagos- Nigeria (PANA) -- The Governor of Central Bank of Nigeria (CBN), Joseph Sanusi, has inaugurated a Presidential Advisory Committee on Small and Medium Industries Equity Investment Scheme (SMIEIS). Full text...

  • South African banking group expands in Africa
    13 december 2001 19:19:00
    Cape Town- South Africa (PANA) -- Absa Corporate and Merchant Bank's Structured Commodity Finance division has become a significant contributor to the group's bottom line following its recent expansion elsewhere into Africa and the conclusion of several significant deals in the region. Full text...

  • Nigeria launches investment scheme for SMEs
    13 december 2001 18:27:00
    Lagos- Nigeria (PANA) -- Nigeria's Central Bank Governor Joseph Sanusi has inaugurated a presidential advisory committee on the country's Small and Medium Industries Equity Investment Scheme (SMIEIS). Full text...

  • Zambia to spend K8 billion HIPC funds in social sector
    13 december 2001 18:10:00
    Lusaka- Zambia (PANA) -- Zambia's finance ministry has released over 8 billion kwacha (2 million US dollars) under the Highly Indebted Poor Countries (HIPC) initiative to boost the social sector and improve living conditions. Full text...

  • Zambia's main rail system on the auction block
    13 december 2001 15:27:00
    Lusaka- Zambia (PANA) -- Zambia Railways Limited, one of five strategic companies still in the hands of government, is to be sold off in January 2002 in a bid to raise efficiency through the injection of fresh private capital. Full text...

  • Govt to sell stakes in telecom companies in Zimbabwe
    13 december 2001 12:01:00
    Harare- Zimbabwe (PANA) -- The Zimbabwe government intends to sell a 30-percent stake each in two state-owned telecommunications companies to strategic investors, an official said Thursday in Harare. Full text...

  • Platinum mine opens in Zimbabwe
    13 december 2001 11:52:00
    Selous- Zimbabwe (PANA) -- A huge new platinum mine commenced operations in Zimbabwe Thursday, representing an investment of more than 3. Full text...

  • Germany aids Zambia to buy 4,400 tonnes of relief maize
    13 december 2001 08:33:00
    Lusaka- Zambia (PANA) -- Germany provided Zambia with 4. Full text...

  • UEMOA council of ministers meeting opens in Senegal
    12 december 2001 23:33:00
    Dakar- Senegal (PANA) -- The meeting of the Council of ministers of the West African Economic and Monetary Union (UEMOA) opened Wednesday in Dakar to prepare a draft agenda for a UEMOA leaders conference on 19 December in the Senegalese capital. Full text...

  • ADB to appeal ruling on case with Ivorian Company
    12 december 2001 22:26:00
    Abidjan- Cote d'Ivoire (PANA) -- The Abidjan-based African Development Bank (ADB) said it would appeal its case with an Ivorian coffee Company, Ivoir Café, after a lower Court overturned an earlier decision against the Company. Full text...

  • Inflation estimated at 3.5 percent in Niger
    12 december 2001 21:01:00
    Niamey- Niger (PANA) -- Niger's consumer price index increased by 0. Full text...

  • Mozambique's bus company TPM raises fare by 50 percent
    12 december 2001 19:21:00
    Maputo- Mozambique (PANA) -- The publicly-owned Maputo bus company, TPM, announced Wednesday that it would increase its flat rate fare by 50 percent as from 2 January. Full text...

  • Kenya Earmarks $6 Billion for Telecom Expansion
    12 december 2001 18:12:00
    Nairobi- Kenya (PANA) -- Kenya plans to spend 468 billion shillings (6 billion US dollars) in the expansion and modernisation of its telecommunications and postal services over the next 15 years, according to a policy document on telecommunications released in Nairobi. Full text...

  • South African airlines contemplate consolidation
    12 december 2001 17:53:00
    Cape Town- South Africa (PANA) -- South African Airways, South African Express Airways and South African Airlink are holding exploratory talks for the consolidation of their services and possible merger of the two feeder airlines. Full text...

  • African economists to discuss Euro/CFA link in Paris
    12 december 2001 17:39:00
    Paris- France (PANA) -- African economists and intellectuals are scheduled to meet in Paris Saturday to discuss the advantages and disadvantages of the link between the Euro/CFA. Full text...

  • UEMOA conducts awareness ahead of Dakar summit
    12 december 2001 14:44:00
    Dakar- Senegal (PANA) -- The West African Economic and Monetary Union (UEMOA) has begun awareness days in Dakar where the union would hold its sixth summit scheduled on 19 December. Full text...

  • Details out for privatisation of Nigerian Power Company, Ports
    12 december 2001 14:31:00
    Lagos- Nigeria (PANA) -- Nigeria's State-owned power monopoly, NEPA and the Nigerian Ports Authority (NPA) will be privatised in 2002, according to a time-table released Tuesday by the government agency implementing the government's divestment from several inefficient public enterprises. Full text...

  • Nigeria gets 29.7 million-dollar IFAD loan
    12 december 2001 14:15:00
    Lagos- Nigeria (PANA) -- The International Fund for Agricultural Development (IFAD) is to give Nigeria a 29. Full text...

  • South Africa to sign nuclear accord with China
    12 december 2001 14:05:00
    Cape Town- South Africa (PANA) -- China and South Africa are close to signing a nuclear energy co-operation agreement, President Thabo Mbeki said Tuesday. Full text...

  • Nigerian Ports Re-open After Agents' Strike
    12 december 2001 12:39:00
    Lagos- Nigeria (PANA) -- Normal operations resumed Wednesday at Nigeria's main ports in Lagos, which were shut Tuesday after customs agents embarked on a one-day strike. Full text...

  • Bureaucracy delays Ethiopia's power project
    12 december 2001 10:52:00
    Addis Ababa- Ethiopia (PANA) -- Bureaucratic red tape has reportedly held up a 300 million dollar hydro-electric project that would add 150 megawatts to Ethiopia's grid. Full text...

  • Cape Verdean Airline Extends Operation In West Africa
    12 december 2001 10:07:00
    Praia- Cape Verde (PANA) -- Cape Verde's airline TACV is preparing to take over some of the West African destinations which used to be served by Sabena Belgian airline and Air Afrique. Full text...

  • South African Airways voted top airline in Africa
    12 december 2001 08:51:00
    Cape Town- South Africa (PANA) -- South African Airways has beaten 65 formidable competitors and walked off with two prestigious awards in the airline industry. Full text...

  • Rotschild to assist Tunisia in GSM selection
    11 december 2001 23:45:00
    Tunis- Tunisia (PANA) -- The Tunisian government has signed a consulting agreement with an international bank, Rotschild CI, to help select a bidder for the installation of a new GSM network, official sources in Tunis disclosed Monday. Full text...

  • Sierra Leone's Transport Corporation MD held hostage
    11 december 2001 23:28:00
    Freetown- Sierra Leone (PANA) -- The Managing Director of Sierra Leone's Road Transport Corporation, Douglas Mead, has been held hostage in his office for two consecutive days by angry workers of the Corporation, witnesses said Tuesday. Full text...

  • CEMAC leaders discuss free movement of people and goods
    11 december 2001 22:48:00
    Yaounde- Cameroon (PANA) -- The free movement of people and goods within the sub-region was the focus of the 3rd ordinary summit of the Central African Economic and Monetary Community (CEMAC), held 9 December in Yaounde, Cameroon. Full text...

  • Air Afrique directors get salary arrears
    11 december 2001 22:20:00
    Abidjan- Cote d'Ivoire (PANA) -- Key directors at Air Afrique's head office in Abidjan have been paid three out of seven months accrued salaries, administrative and finance director Robert N'Chobo disclosed Monday. Full text...

  • Electricity tariff reduction likely in East Africa, says Minister
    11 december 2001 21:31:00
    Dar es Salaam- Tanzania (PANA) -- Energy and Minerals Minister Edgar Maokola-Majogo said Tuesday that plans for Tanzania and Kenya to connect their power grids to the South African Power Pool (SAPP) were at an advanced stage. Full text...

  • Rwanda set to earn $190 million in taxes in 2002
    11 december 2001 21:24:00
    Kigali- Rwanda (PANA) -- Rwanda has projected a 13 percent increase in tax revenues for the year 2002, in comparison to the preceding year, official sources in Kigali reported Tuesday. Full text...

  • Cape Verde to create 21,000 new jobs in 2002
    11 december 2001 21:07:00
    Praia- Cape Verde (PANA) -- Cape Verde's government plans to create some 21,000 new jobs under a public investment programme in the 2002 budget, the Prime Minister Jose Maria Neves, has revealed. Full text...

  • Chiluba decries politicisation of food prices
    11 december 2001 20:39:00
    Lusaka- Zambia (PANA) -- President Frederick Chiluba Tuesday blamed the high price of maize flour, a staple in the country, on the lack of co-ordination between the civil service and the political leadership. Full text...

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