Economy -
  • Benin's National Handicrafts Show Opens
    08 december 2001 17:57:00
    Cotonou- Benin (PANA) -- A 10-day national handicrafts exhibition was opened Friday in Cotonou by Benin's Culture, Handicrafts and Tourism Minister Amos Elegbe. Full text...

  • Togo Govt Proposes 246 Million Dollar Budget
    08 december 2001 15:48:00
    Lome- Togo (PANA) -- The government of Togo has proposed a budget of 183,201,877,000 CFAF (over 246 million dollars) for 2002, according to an official communiqué issued in Lome. Full text...

  • Ethiopia power company to spend 41.1 million dollars
    08 december 2001 13:54:00
    Addis Ababa- Ethiopia (PANA) -- Ethiopia's electric power corporation is to spend 41. Full text...

  • Nigerian crude oil exports drop
    08 december 2001 13:25:00
    Lagos- Nigeria (PANA) -- Nigeria's crude oil export, responsible for more than 90 percent of the country's foreign exchange earnings, dropped from 62,954,611 barrels in August to 61,752,740 in September, the local media reported Saturday, citing a report on the country's oil industry. Full text...

  • Sudan to resume livestock exports to Saudi Arabia
    08 december 2001 13:19:00
    Khartoum- Sudan (PANA) -- Sudan expects to resume livestock exports to Saudi Arabia after the kingdom lifted a yearlong ban for health fears. Full text...

  • Mauritius plans tourism marketing
    07 december 2001 21:09:00
    Port Louis- Mauritius (PANA) -- Mauritius government has approved a supplementary budget of 12 million rupees (about 402,000 dollars) in the current fiscal year for tourism marketing. Full text...

  • Mozambique gets 8 million US dollar Belgian grant
    07 december 2001 20:08:00
    Brussels- Belgium (PANA) -- Mozambique has obtained a Belgian grant of 7. Full text...

  • Benin marks civil aviation day
    07 december 2001 19:46:00
    Cotonou- Benin (PANA) -- Benin's Public Works and Transport Minister, Joseph Sourou Attin, said Friday that air transportation was still the most rapid and economic means of conveyance. Full text...

  • China cancels 50 percent of Mali's debt
    07 december 2001 16:46:00
    Bamako- Mali (PANA) -- Mali and China have signed a protocol in which Beijing has agreed to cancel 50 percent of debt owed to it by Mali, official sources said Friday in Bamako. Full text...

  • Businessmen say rule of law crucial for investments in Africa
    07 december 2001 15:38:00
    Paris- France (PANA) -- Various business groups attending a day long conference in Paris Friday on the challenges of doing business in Africa, agreed that the rule of law was a crucial component of efforts to create a conducive environment for business on the continent. Full text...

  • Angola signs security contract to control diamond sales
    07 december 2001 14:08:00
    Luanda- Angola (PANA) -- The Angolan government has authorised the Ministry of Geology and Mining, through the National Diamond Company, to sign a three-year security contract with Stanwest Establishment Company, the Angolan news agency (Angop) reported Thursday. Full text...

  • UN official urges multinationals to invest more in Africa
    07 december 2001 14:04:00
    Paris- France (PANA) -- A UN Under Secretary General and Special Adviser on Africa, Ibrahim Gambari has urged Trans-national Companies to invest more in Africa where they stand to reap greater returns. Full text...

  • S. African foundation calls for cool heads over currency crisis
    07 december 2001 13:36:00
    Cape Town- South Africa (PANA) -- The Board of Governors of the South Africa Foundation says that while political and economic shortcomings inevitably affect the value of a currency, the recent sharp depreciation of the rand is not a sign of political or economic failure. Full text...

  • Critics say Ethiopia paid high price for debt relief
    07 december 2001 10:03:00
    Addis Ababa- Ethiopia (PANA) -- Critics in Addis Ababa have played down Ethiopia's admission into the relief initiative for Heavily Indebted Poor countries (HIPC), charging that it came at the cost of harsh reforms oblivious to the plight of the poor. Full text...

  • Mauritania issues two diamond prospecting permits
    07 december 2001 09:27:00
    Nouakchott- Mauritania (PANA) -- The Mauritanian government has granted two diamond prospecting permits to the Dia Met Minerals Limited and Luchosol Par-SL firms, official sources disclosed Thursday. Full text...

  • Cameroon gets new petroleum company
    07 december 2001 08:51:00
    Douala- Cameroon (PANA) -- A new petroleum company, First Oil Cameroon, has been established with the blessings of public authorities seeking to broaden private investment in a sector that has been dominated by foreign multinational companies. Full text...

  • Watermelons flood Dakar
    06 december 2001 23:36:00
    Dakar- Senegal (PANA) -- The Senegalese capital is currently going through the season of watermelons. Full text...

  • Mozambique predicts 14 percent GDP growth
    06 december 2001 23:25:00
    Maputo- Mozambique (PANA) -- Despite the floods in the central provinces between February and April, Mozambique expects a 14 percent growth in its Gross Domestic Product this year, the country's news agency, AIM reported Thursday. Full text...

  • Dakar-New York flights to resume shortly
    06 december 2001 20:25:00
    Dakar- Senegal (PANA) -- Dakar-New York flights will resume shortly, Quotidien de la Republique, a newspaper published by State House, reported Thursday in Dakar, quoting the ministry of Equipment and Transportation. Full text...

  • New Libyan airline makes maiden flight in Niamey
    06 december 2001 20:01:00
    Niamey- Niger (PANA) -- Libya's airline, Afriqiyah, made a maiden flight to Niamey this week, the government daily Le Sahel reported Thursday. Full text...

  • Reunion's air traffic controllers on strike
    06 december 2001 19:34:00
    Saint Denis- Reunion (PANA) -- Only one passenger plane left Saint Denis airport for Mauritius Thursday following a strike by air traffic controllers, which grounded flights from the Indian Ocean island's two other international airports, Rolland Garros in the north and Pierrefonds in the south. Full text...

  • Trading slightly down Wednesday at West African stock exchange
    06 december 2001 17:03:00
    Dakar- Senegal (PANA) -- The Abidjan-based Regional Stock Exchange (BRVM) closed trading Wednesday with a slight decline compared to Tuesday, according to a BRVM release. Full text...

  • Business confidence rises in South Africa
    06 december 2001 15:54:00
    Cape Town- South Africa (PANA) -- Even as the rand depreciated to its lowest level ever (more than R11 to the dollar), the South African Chamber of Business (SACOB) Thursday announced that its Business Confidence Index (BCI) increased by 4,5 index points to 107,7 in November. Full text...

  • Saudi Bank loans Tunisia 11 million US dollars
    06 december 2001 14:01:00
    Tunis- Tunisia (PANA) -- Tunisia Wednesday concluded a 15. Full text...

  • Zimbabwe company invests in a South African hotel
    06 december 2001 13:35:00
    Harare- Zimbabwe (PANA) -- A top class Zimbabwean hotel group said Thursday it had acquired a leading South African hotel for an undisclosed amount. Full text...

  • Zimbabwe government debt drops
    06 december 2001 13:25:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's domestic debt has eased by 3 billion Zimbabwe dollars (54. Full text...

  • Zimbabwe foreign exchange earnings dip
    06 december 2001 13:17:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's monthly foreign currency earnings have dipped by more than half to 30 million US dollars in October, dealers said Thursday. Full text...

  • Mozambican bill to open up mobile phone market
    06 december 2001 13:11:00
    Maputo- Mozambican (PANA) -- Mozambican transport and communications minister Tomas Salomao Wednesday introduced a bill in parliament aimed at liberalising the mobile phone market in the country. Full text...

  • Zambian Govt blamed for economic hardship arising from reforms
    06 december 2001 12:29:00
    Lusaka- Zambia (PANA) -- A recent study conducted by the Catholic Commission for Justice and Peace (CCJP) has blamed the Zambian government for not providing cushionary measures to the social effects that have risen from the privatisation process, particularly in the mining sector. Full text...

  • Nigeria issues new guidelines on foreign loans
    06 december 2001 11:27:00
    Abuja- Nigeria (PANA) -- The federal government has released a new list of rules to guide foreign borrowing by the various tiers of governments in the country, according to a government spokesman. Full text...

  • South African vehicles sales increase
    06 december 2001 11:15:00
    Cape Town- South Africa (PANA) -- South Africa's vehicle sales statistics for November show a year-end surge in sales led by a high level of support in the light commercial vehicle sector. Full text...

  • Church group takes issue with politicians over living standards
    06 december 2001 08:54:00
    Lusaka- Zambia (PANA) -- The Jesuit Centre for Theological Reflection, a Catholic organisation, has urged Zambia voters to hold political parties accountable in delivering on their campaign promises after the 27 December elections. Full text...

  • Dakar water sector show attracts about 60 companies
    05 december 2001 23:02:00
    Dakar- Senegal (PANA) -- At least 60 companies are participating in the first International water show which entered its second day in Dakar, the Senegalese capital and whose objective is to improve the performance of the water sector in Africa. Full text...

  • Paris Club cancels $74 million debt to Freetown
    05 december 2001 22:50:00
    Freetown- Sierra Leone (PANA) -- The Paris Club which is Sierra Leone's major creditor agency, has cancelled 74 million US dollars the government in Freetown owed to it, Finance Minister Peter Kuyembeh confirmed. Full text...

  • Niger ratifies 37.3 million SDRs pact for water project
    05 december 2001 22:33:00
    Niamey- Niger (PANA) -- Parliament in Niger has ratified a loan of 37. Full text...

  • Morocco working on development plan for Western Sahara
    05 december 2001 20:49:00
    Rabat- Morocco (PANA) -- The Moroccan government is working on an integrated development plan for Western Sahara, with emphasis on job creation and investment, officials disclosed here Wednesday. Full text...

  • Out-of-court settlement for South African asbestos victims
    05 december 2001 20:09:00
    Johannesburg- South Africa (PANA) -- Thousands of South African asbestos poisoning victims will benefit from an out-of-court settlement that will see Cape plc pay them 20 million British pounds ( about 15 million US dollars) in compensation. Full text...

  • ADF Supports Capacity Building in Ethiopian Govt
    05 december 2001 20:08:00
    Dakar- Senegal (PANA) -- With technical assistance from the African Development Fund, the Ethiopian government will undertake a capacity building programme for key ministries and regional offices in monitoring development projects. Full text...

  • Ghana Ports Authority needs 300 million dollars for expansion
    05 december 2001 19:43:00
    Accra- Ghana (PANA) -- The Ghana Ports and Harbours Authority (GPHA) would need 308 million dollars for the expansion of the country's two ports at Tema and Takoradi, according to Edward Kwakye, Director of Planning at the Roads and Transport Ministry. Full text...

  • GSE continues poor run
    05 december 2001 19:17:00
    Accra Ghana (PANA) -- The poor run of the Ghana Stock Exchange (GSE) continued Wednesday with the main market gauge, the All-share Index, ending flat again. Full text...

  • Global firms discuss means to do business in Africa
    05 december 2001 19:08:00
    Paris- France (PANA) -- Leading global business groups and representatives of the UN and humanitarian agencies plan to meet in Paris Thursday to discuss the challenges of doing business in Africa, organisers said Wednesday. Full text...

  • ADF Approves Loan for Water Supply Project in Malawi
    05 december 2001 19:03:00
    Dakar- Senegal (PANA) -- The African Development Fund (ADF) has approved a loan and grant package of 9. Full text...

  • Algerian parliament discusses fate of power company
    05 december 2001 15:37:00
    Algiers- Algeria (PANA) -- The Algerian parliament started Tuesday discussing a bill expected to end to monopoly of the state-owned Sonelgaz on the production and supply of electricity and gas in the country. Full text...

  • Reunion's firms encouraged to export their products
    05 december 2001 15:18:00
    Saint Denis- Reunion (PANA) -- A meeting on the export trade started Tuesday in Saint Denis with the main objective of encouraging local entrepreneurs to export products to the Indian Ocean zone. Full text...

  • South African Rand likely to fall further
    05 december 2001 12:33:00
    Cape Town- South Africa (PANA) -- South African economists say the beleaguered rand would trade even lower against the US dollar next year. Full text...

  • Zimbabwe moves to curb losses from collapsed banks
    05 december 2001 11:37:00
    Harare- Zimbabwe (PANA) -- The Central Bank in Zimbabwe Wednesday introduced tighter monitoring measures to prevent losses to clients resulting from the collapse of banks. Full text...

  • Zambia imports cheap maize meal to counter high prices
    05 december 2001 11:18:00
    Lusaka- Zambia (PANA) -- The Zambian government has started importing cheap maize to counter a sharp increase in the price of the staple mealie meal, President Frederick Chiluba disclosed Tuesday. Full text...

  • Tanzania to privatise sole gas-manufacturing company
    05 december 2001 09:53:00
    Dar es Salaam- Tanzania (PANA) -- African Oxygen Limited (AFROX) of South Africa is considering acquiring majority shareholding in Tanzania's sole gas-producing and distributing firm, TOL Limited. Full text...

  • Trading slightly up at West African stock exchange
    05 december 2001 08:48:00
    Abidjan- Cote d'Ivoire (PANA) -- Trading at the Abidjan-based Regional Securities Stock Market (BRVM) closed Tuesday with a slight gain compared to the preceding session. Full text...

  • Port strike could have major impact on South African economy
    05 december 2001 08:38:00
    Cape Town- South Africa (PANA) -- The ongoing strike at South African ports is the worst the country has experienced in recent years, with Durban hardest-hit, and pundits fear the move could have wide-ranging and long-term economic repercussions. Full text...

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