Economy -
  • ‘Pay attention to persistent revenue shortfalls’ - IMF team advises Ghana
    28 september 2018 09:20:33
    Accra, Ghana (PANA) – Ghana’s 2019 budget would need to address persistent revenue shortfalls and start tackling decisively the issue of exemptions, an International Monetary Fund (IMF) mission has suggested after the seventh review of the country’s economic programme supported by the Extended Credit Facility (ECF). Full text...

  • Friday's forex rates for the Mauritian Rupee
    28 september 2018 08:08:05
    Port-Louis, Mauritius (PANA) - The following are Friday's foreign exchange rates for the Mauritian Rupee as issued by the Mauritian commercial bank. Full text...

  • UN marks World Tourism Day
    27 september 2018 19:36:04
    New York, US (PANA) - The United Nations is marking this year’s World Tourism Day by exploring how technological advances such as big data, artificial intelligence and digital platforms can contribute to the way people travel and foster innovation in the tourism industry. Full text...

  • Gambia restricts official travel to cut down expenditure
    27 september 2018 17:56:32
    Banjul, Gambia (PANA) - The government of Gambia has banned all public officials from travelling abroad except for “essential statutory meetings” with effect from 1 October 2018 as President Adama Barrow struggles to cut down unnecessary expenditure of state funds. Full text...

  • Eskom SA to expand transmission network with US$218 loan from AfDB
    27 september 2018 13:05:10
    Abidjan, Cote d'Ivoire (PANA) - The African Development Bank (AfDB) has approved a US$ 217.9 million loan to South Africa’s power utility, Eskom Holdings Ltd., towards the upgrade and expansion of its transmission facilities, crucial to power supply within the sub-region. Full text...

  • IFAD, ACP intensify collaboration
    27 september 2018 11:35:22
    Nairobi, Kenya (PANA) - The heads of International Fund for Agricultural Development (IFAD) and the African, Caribbean and Pacific (ACP) Group of States have signed a letter of intent to intensify collaboration between the two institutions. Full text...

  • First time in 10 years Madagascar eyes above 5 percent growth in 2018
    27 september 2018 11:22:32
    Antananarivo, Madagascar (PANA) – Driven by a rebound in agricultural production as well as increased public investment, Madagascar’s economic growth is expected to exceed 5 percent this year, the highest level in 10 years, according to the latest review by the staff of the International Monetary Fund (IMF). Full text...

  • Thursday's exchange rates for the Mauritian Rupee
    27 september 2018 08:22:38
    Port-Louis, Mauritius (PANA) - The following are Thursday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Mauritius' sugar production forecast to fall by 7.1% in 2018
    27 september 2018 07:21:26
    Port-Louis, Mauritius (PANA) - The Mauritius Chamber of Agriculture announced on Thursday that production of sugar for the crop year 2018 is forecast at around 330,000 tonnes, representing a decrease of 7.1%, compared to 355,213 tonnes in 2017. Full text...

  • Thursday’s forex rates for the Gambian Dalasi
    27 september 2018 06:29:12
    Banjul, Gambia (PANA) – The following are Thursday’s foreign exchange rates for the Gambian Dalasi (D) as issued by the Central Bank of The Gambia. Full text...

  • Ethiopia steps up economic growth through private sector investment
    26 september 2018 19:49:42
    Addis Ababa, Ethiopia (PANA) – Ethiopia’s growth is expected to step up in 2018/9 to 8.5 percent, supported by stronger confidence as the uncertainty of the previous year recedes, and the availability of domestic and foreign direct investment improves, according to the International Monetary Fund (IMF) staff. Full text...

  • Kenya signs deal with UN agency to deliver 100,000 houses
    26 september 2018 18:05:21
    New York, US (PANA) – Kenyan has entered into an agreement with the UN Office for Project Services (UNOPS) to deliver 100,000 affordable housing units, the office of the President said on Wednesday. Full text...

  • Nigeria's MPC warns economy risks slipping into another recession
    26 september 2018 11:45:17
    Abuja, Nigeria (PANA) – Nigeria’s Monetary Policy Committee (MPC) ended its two-day meeting on Tuesday evening with a strong warning that the economy risks slipping into another recession if there is no synergy between monetary and fiscal policies to ensure macroeconomic stability. Full text...

  • Wednesday's exchange rates for Mauritian Rupee
    26 september 2018 09:05:45
    Port-Louis, Mauritius (PANA) - The following are Wednesday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Wednesday’s forex rates for the Gambian Dalasi
    26 september 2018 06:44:17
    Banjul, Gambia (PANA) – The following are Wednesday’s foreign exchange rates for the Gambian Dalasi (D) as issued by the Central Bank of The Gambia. Full text...

  • Nigeria retains key interest rate at 14 per cent
    25 september 2018 17:18:50
    Abuja, Nigeria (PANA) – The Central Bank of Nigeria (CBN) has kept its key interest rate at 14 per cent, in line with market expectations as the country fights off future recession threats. Full text...

  • AfDB boosts Jobs for Youth in Africa with close to US$2 million
    25 september 2018 16:01:16
    Abidjan, Cote d'Ivoire (PANA) - The African Development Bank’s Fund for African Private Sector Assistance (FAPA), has provided funds totaling nearly US$2 million to its Jobs for Youth in Africa initiative. Full text...

  • AfDB supports Ghana’s Renewable Energy Sector with US$1.5 million grant
    25 september 2018 15:50:18
    Accra, Ghana (PANA) - The African Development Bank (AfDB) has approved a US$1.5 million grant from its Sustainable Energy Fund for Africa (SEFA), to assist Ghana’s renewable energy investment drive. Full text...

  • AfDB launches first Africa-to-Africa (A2A) Investment Report
    25 september 2018 15:40:39
    Abidjan, Cote d'Ivoire (PANA) - Opportunities for investment in Africa often outweigh the obstacles, according to leading African companies included in the African Development Bank’s first Africa-to-Africa (A2A) Investment Report. Full text...

  • Mauritian govt. to support the Cane Industry
    25 september 2018 14:20:49
    Port-Louis, Mauritius (PANA) - The Mauritian Agro-industry minister, Mahen Seeruttun, on Tuesday said the government will assist small planters and key stakeholders of the cane industry who are facing financial difficulties due to the decline in sugar price on the world market. Full text...

  • Kenya fast-tracks affordable housing agenda
    25 september 2018 14:00:31
    Nairobi, Kenya (PANA) - Under its "Big Four" agenda, which includes affordable housing, the Kenyan government has invited bids from both international and local developers to build 1,500 affordable residential units for low-income earners at the Nairobi’s Park Road estate, situated in Ngara. Full text...

  • Tuesday's forex rates for the Mauritian Rupee
    25 september 2018 09:18:58
    Port-Louis, Mauritius (PANA) - The following are Tuesday's foreign exchange rates for the Mauritian Rupee as issued by the Mauritian commercial bank. Full text...

  • Private business must be a ‘driving force’ for securing peace, curbing climate change: Guterres
    25 september 2018 07:09:40
    New York, US (PANA) - The rate of sustainable development is “too slow” and private business has a major role to play in speeding it up, while also slowing the runaway pace of climate change that threatens the entire world with catastrophe, United Nations Secretary-General António Guterres said Monday. Full text...

  • ‘Surge in financing’ needed to transform the world: UN chief
    25 september 2018 06:27:16
    New York, US (PANA) - A “surge in financing and investments” is needed to achieve the 2030 Agenda, the United Nations plan of action agreed by Member States, to transform the world, the Secretary-General said on Monday. Full text...

  • Monday’s forex rates for the Gambian Dalasi
    25 september 2018 06:20:33
    Banjul, Gambia (PANA) – The following are Tuesday’s foreign exchange rates for the Gambian Dalasi (D) as issued by the Central Bank of The Gambia. Full text...

  • Monday's forex rates for Rwandan Franc
    24 september 2018 12:37:01
    Kigali, Rwanda (PANA) - The following are Monday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Monday's exchange rates for Mauritian Rupee
    24 september 2018 08:24:52
    Port-Louis, Mauritius (PANA) - The following are Monday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Monday’s forex rates for the Gambian Dalasi
    24 september 2018 08:16:09
    Banjul, Gambia (PANA) – The following are Monday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Nigeria's foreign debt rises to US$22.08 billion
    23 september 2018 17:08:04
    Abuja, Nigeria (PANA) – Nigeria’s National Bureau of Statistics (NBS) says the country’s foreign debt stands at US$22.08 billion. Full text...

  • Mozambique presents nearly 30 projects to AIF for development
    23 september 2018 11:17:12
    Maputo, Mozambique (PANA) - Investors and members of Mozambique’s business and financial community have presented nearly 30 development projects to the Africa Investment Forum (AIF), the African Development Bank’s new transactional platform for mobilizing investments in the continent. Full text...

  • AfDB approves US$1m to boost Liberia's wood industry
    23 september 2018 10:59:04
    Monrovia, Liberia (PANA) - The African Development Bank’s Fund for African Private Sector Assistance (FAPA), has approved a grant of US$1 million to Liberia, to provide technical assistance to its fast-growing wood processing industry. Full text...

  • IMF says Somalia on good track of policy reform
    23 september 2018 10:56:51
    Nairobi, Kenya (PANA) – Despite a difficult economic and political environment, the authorities in Somalia are building a good track record of policy and reform implementation, according to an International Monetary Fund (IMF) staff team that met with senior Somali government officials as well as representatives of bilateral and multilateral donors in Nairobi, Kenya, this week. Full text...

  • Saturday's exchange rates for Mauritanian Ouguiya
    22 september 2018 12:57:47
    Nouakchott, Mauritania (PANA) - The following are Saturday's exchange rates for the Mauritanian Ouguiya as announced by the Central Bank of Mauritania. Full text...

  • Saturday’s forex rates for the Gambian Dalasi
    22 september 2018 08:04:50
    Banjul, Gambia (PANA) – The following are Saturday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Mano River Union Phase II improving more roads, transportation in countries
    21 september 2018 13:56:49
    Abidjan, Cote d'Ivoire (PANA) - The Board of Directors of the African Development Bank (AfDB) has given the green light for the launch of the second phase of the Mano River Union (UFM) programme, which would improve roads and facilitate transport between Liberia and Cote d’Ivoire. Full text...

  • Adesina wraps up Canada visit with a plea: “Africa cannot be ignored”
    21 september 2018 13:48:12
    Alberta, Canada (PANA) - “Given the size of its markets, growth, and huge potential across multiple sectors, Africa cannot be ignored,” this was the African Development Bank (AfDB) President, Akinwumi Adesina’s message at a public and private sector investor roundtable on Thursday. Full text...

  • Clear external arrears first to get support for reform, IMF tells Zimbabwe
    21 september 2018 09:42:40
    Dar es Salaam, Tanzania (PANA) – The International Monetary Fund (IMF) stands ready to help the authorities in Zimbabwe design a reform package that can help facilitate the clearance of the country’s external payment arrears to international development banks and bilateral official creditors, the Fund’s spokesman has said. Full text...

  • Kenyan President signs new taxation law amid outrage
    21 september 2018 09:36:43
    Nairobi, Kenya (PANA) - Kenyan President Uhuru Kenyatta signed the Finance Bill 2018 into law on Friday, hours after Parliament passed it under unclear circumstances. Full text...

  • Friday's exchange rates for Mauritian Rupee
    21 september 2018 08:36:32
    Port-Louis, Maurice (PANA) - The following are Friday's exchange rates for the Mauritian Rupee as announced by the Mauritian Commercial Bank. Full text...

  • Friday’s forex rates for the Gambian Dalasi
    21 september 2018 08:28:13
    Banjul, Gambia (PANA) – The following are Friday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • DRC wins praise over planned exploitation of cobalt for electric car plants
    20 september 2018 18:11:07
    N’Djamena, Chad (PANA) - UN Economic Commission for Africa (ECA) officials have lauded the Democratic Republic of Congo' s (DRC) plans to establish industrial parks to attract makers of car batteries and fabricators of electric cars. Full text...

  • AfDB debars GEO SCIENCES for 48 Months for fraudulent practices
    20 september 2018 15:56:14
    Abidjan, Cote d'Ivoire (PANA) - The African Development Bank (AfDB) Group on Thursday announced the debarment of GEO SCIENCES INTERNATIONAL SARL, a consulting firm based in Yaoundé, Cameroon, for a minimum period of 48 months. Full text...

  • Thursday's forex rates for Rwandan Franc
    20 september 2018 14:18:05
    Kigali, Rwanda (PANA) - The following are Thursday's foreign exchange rates for the Rwandan franc, as issued by the National Bank of Rwanda. Full text...

  • Thursday's exchange rates for Mauritian Rupee
    20 september 2018 11:06:58
    Port-Louis, Mauritius (PANA) - The following are Thursday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Thursday’s forex rates for the Gambian Dalasi
    20 september 2018 09:44:01
    Banjul, Gambia (PANA) – The following are Thursday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Decline of global extreme poverty continues but has slowed: World Bank
    19 september 2018 18:55:37
    Washington, US (PANA) - Fewer people are living in extreme poverty around the world, but the decline in poverty rates has slowed, raising concerns about achieving the goal of ending poverty by 2030 and pointing to the need for increased pro-poor investments, the World Bank has found. Full text...

  • AfDB, private entities team up to bolster African infrastructure lending
    19 september 2018 10:32:02
    Nairobi, Kenya (PANA) - The African Development Bank, the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc on Wednesday announce the pricing of Room2Run, a US $1 billion synthetic securitization. Full text...

  • Wednesday's exchange rates for Ghana cedi
    19 september 2018 09:20:24
    Accra, Ghana (PANA) - The following are Wednesday's exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Wednesday's exchange rates for Mauritian Rupee
    19 september 2018 09:15:27
    Port-Louis, Mauritius (PANA) - The following are Wednesday's exchange rates for the Mauritian Rupee as announced by the Commercial Bank of Mauritius. Full text...

  • Wednesday’s forex rates for the Gambian Dalasi
    19 september 2018 09:03:21
    Banjul, Gambia (PANA) – The following are Wednesday’s foreign exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

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