Economy -
  • Ghana Airways interdicts four officials over US ban
    29 july 2004 22:42:00
    Accra- Ghana (PANA) -- Ghana Airways has interdicted four senior officials over the US Federal Aviation Authority ban on the national carrier from flying to the US, the Ministry of Roads and Transport said here Thursday. Full text...

  • Cameroon hosts Ivorian week in Yaounde in August
    29 july 2004 20:55:00
    Yaounde- Cameroon (PANA) -- Cote d'Ivoire's Week in Cameroon will take place in Yaounde from 2-6 August under the theme "Ivorian- Cameroonian co-operation and sustainable development", the organisers said here Thursday. Full text...

  • Equatorial Guinea holds NEPAD strategy workshop
    29 july 2004 20:25:00
    Malabo- Equatorial Guinea (PANA) -- About 50 managers, senior civil servants from economic departments in Equatorial Guinea and businessmen are engaged in a training session that opened here Wednesday on economic partnership agreements involving NEPAD. Full text...

  • Microsoft plans low cost computers for African schools
    29 july 2004 17:20:00
    Lusaka- Zambia (PANA) -- Leading computer manufacturer, Microsoft plans to provide low cost access to computers in Africa to enhance efficiency in the education sector of the continent. Full text...

  • Kenya probes suspected phone licensing scam
    29 july 2004 16:35:00
    Nairobi- (PANA) -- The Kenyan government has instituted a probe into the rejection of two international telecommunications firms during the bidding process for the country's second national fixed-line telephone operator. Full text...

  • Bank governor urges tougher action against fraud
    29 july 2004 15:49:00
    Yaounde- Cameroon (PANA) -- The governor of Central Bank of Central African States, BEAC, Jean-Felix Mamalepot, Thursday in Yaounde called for the strengthening of mechanisms for fighting financial crimes given the sophisticated techniques now employed by the criminals. Full text...

  • Heat wave saps production at Moroccan poultry farms
    29 july 2004 14:24:00
    Rabat- Morocco (PANA) -- Poultry farmers in Morocco have incurred "significant losses" and drops in production owing to the recent heat wave that hit all regions of the kingdom, the Federation of Moroccan Poultry Farmers (FISA) has said. Full text...

  • Tunisia secures two EIB loans
    29 july 2004 11:45:00
    Brussels- Belgium (PANA) -- The European Investment Bank (EIB) has loaned Tunisia 34 million euros to finance a sanitation project in Sfax, a major economic centre in southern Tunisia, an official source said. Full text...

  • 28th ACAB board of governors meets in Cameroon
    29 july 2004 10:55:00
    Yaounde- Cameroon (PANA) -- Cameroon is hosting a symposium in Yaounde whose theme is "African central banks and their role in the fight against money laundering -- cooperation and sharing of experiences. Full text...

  • IMF team visits Gabon
    29 july 2004 09:31:00
    Libreville- Gabon (PANA) -- A team from the International Monetary Fund (IMF) led by Emilio Sacerdotti, head of the IMF's Africa Division, is reviewing Gabon's 14-month stand-by agreement concluded on 2 June, an official source said in Libreville. Full text...

  • New Moroccan airline begins operation
    28 july 2004 20:44:00
    Rabat- Morocco (PANA) -- Atlas Blue, a new Moroccan airline has started operation with a maiden flight from the country's southern city of Marrakech to Lyon in France, airline officials said Wednesday. Full text...

  • DR Congo mine sold 624,000 carats of diamonds in June
    28 july 2004 20:19:00
    Kinshasa- DR Congo (PANA) -- Democratic Republic of Congo's Bakwanga Mining Company (MIBA) sold over 624,000 carats of diamonds worth $8. Full text...

  • African central bankers to meet in Yaounde
    28 july 2004 19:42:00
    Yaounde- Cameroon (PANA) -- A symposium on the role of African central banks in combating money laundering opens Thursday in Yaounde, Cameroon, official sources said here. Full text...

  • Zimbabwe stock market cool after policy announcements
    28 july 2004 18:10:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's equity market was inactive Wednesday with analysts saying punters were still digesting a dose of economic policy announcements by the government and central bank this week. Full text...

  • Kenya eyes cruise tourism
    28 july 2004 14:02:00
    Nairobi- Kenya (PANA) -- Kenya's Ministry of Tourism and Wildlife has launched a major marketing campaign to promote cruise tourism in the East African country, officials disclosed Wednesday. Full text...

  • France loans Algeria billions of euros
    28 july 2004 12:02:00
    Algiers- Algeria (PANA) -- French Economy, Finance and Industry Minister Nicolas Sarkozy's visit to Algeria has been marked by the signing of a partnership and development agreement worth nearly two billion euros in loans. Full text...

  • Japan grants DR Congo funds for agriculture
    28 july 2004 10:09:00
    Kinshasa- DR Congo (PANA) -- Japan has granted the DR Congo 1. Full text...

  • NEPAD calls on govts to adopt good governance laws
    28 july 2004 07:38:00
    Nairobi- Kenya (PANA) -- Former South African President Nelson Mandela's wife, Graca Machel, Tuesday challenged African countries to institutionalise the New Partnership for Africa's Development (NEPAD)'s good governance components, and adopt them as legislation skewed towards enhancing communication between the countries and their citizens. Full text...

  • Ministers of Central African nations meet in Bangui
    28 july 2004 00:03:00
    Bangui- Central African Republic (PANA) -- Ministers of the Central African Economic Union (UEAC) are expected to hold the 12th session here Wednesday after experts of the inter-state committee ended their preparatory meeting here Tuesday. Full text...

  • ECOWAS countries urged to remove trade barriers
    27 july 2004 21:30:00
    Accra- Ghana (PANA) -- Ghana's Regional Co-operation and NEPAD Minister Kofi Konadu Apraku, has called on ECOWAS member nations to remove tariff and non-tariff barriers to promote trade in the sub-region. Full text...

  • South African Reserve Bank to issue new commemorative coin
    27 july 2004 21:24:00
    Johannesburg- South Africa (PANA) -- The South African Reserve Bank announced Tuesday it would issue a special two-rand coin 2 August to commemorate 10 years of democracy in the country. Full text...

  • West African nations vital to US energy Security
    27 july 2004 16:40:00
    Dakar- Senegal (PANA) -- American energy expert David Goldwyn has told a Senate Congressional committee that the West African nations of the Gulf of Guinea were critical to US energy security and could provide up to 20 percent of its energy needs in the future. Full text...

  • Algeria opts for preferential loans
    27 july 2004 12:47:00
    Algiers- Algeria (PANA) -- Algeria's foreign debt policy is now geared towards preferential loans, characterised by low interest rates and well-considered repayment periods, finance minister Abdellatif Benachenhou has said here. Full text...

  • Zimbabwe firm clinches deal with SA company
    26 july 2004 23:03:00
    Harare- Zimbabwe (PANA) -- A Zimbabwean shoe-manufacturing company said Monday it had clinched a USD20 million marketing deal with a South African firm. Full text...

  • Zimbabwe records small budget deficit
    26 july 2004 21:37:00
    Harare- Zimbabwe (PANA) -- The government in Zimbabwe said Monday it recorded a smaller than projected budget deficit in the first half of the year, crediting a tight-fisted fiscal policy enforced from January for the achievement. Full text...

  • Accra bourse opens week low
    26 july 2004 19:41:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange (GSE) plunged in trading Monday following a hefty loss by blue chip Ghana Commercial Bank (GCB). Full text...

  • Comoran vanilla traders tour Madagascar
    26 july 2004 19:29:00
    Moroni- Comoros (PANA) -- A delegation of Comoran vanilla traders is currently touring Madagascar in a bid to forge a common position with their counterparts in Antananarivo following the collapse of farm gate prices for the archipelago's leading export crop. Full text...

  • 40 rural banks to be computerised in Ghana
    26 july 2004 18:49:00
    Accra- Ghana (PANA) -- Forty rural and community banks are to be computerised for efficiency and improved customer service under Ghana's Rural Financial Service Project. Full text...

  • Ghana set for more debt relief
    26 july 2004 18:38:00
    Accra- Ghana (PANA - Ghana could enjoy a total deb-t relief of five billion US dollars if Germany and Spain should join the country's 14 other creditor nations in the Paris Club, which have agreed to cancel the 1. ) Full text...

  • Inflation slightly down in Mozambique
    26 july 2004 18:20:00
    Maputo- Mozambique (PANA) -- Year-on-year inflation in Mozambique is slowing down, but still higher than the 11 percent projected by government for 2004. Full text...

  • Mozambique gets new private airline
    26 july 2004 17:17:00
    Maputo- Mozambique (PANA) -- A new air company, Air Corridor, will start operations in Mozambique from August, its commercial director, Cesar Mahumane said Monday. Full text...

  • AU peer review body holds public forum in Kenya
    26 july 2004 16:11:00
    Nairobi- Kenya (PANA) -- Vice President Moody Awori has assured the visiting New Partnership for Africa's Development (NEPAD) Country Support Mission that Kenya remains committed to the ideals of self-assessment in political and economic governance. Full text...

  • Nigeria banking sector fraud, forgeries cost 9.38bn naira
    26 july 2004 13:51:00
    Lagos- Nigeria (PANA) -- About 9. Full text...

  • Strong Uganda Shilling Hurts Cocoa Farm Gate Prices
    26 july 2004 13:04:00
    Kampala- Uganda (PANA) -- The Ugandan shilling continues to gain strength against the American greenback at the detriment of cocoa farmers who bear the brunt as farm gate prices dip, sector officials said Monday. Full text...

  • Bakers in Algeria threaten strike over bread price
    25 july 2004 19:28:00
    Algiers- Algeria (PANA) -- The Algerian general shopkeepers and craftsmen federation (UGCAA) have threatened to strike next week to force the government to raise the price of bread. Full text...

  • Mozambique gets new domestic airline in August
    25 july 2004 16:25:00
    Maputo- Mozambique (PANA) -- A new airline named 'Air Corridor' plans to operate in Mozambique beginning next month, the sales manager of the company, Cesar Mahumane announced here. Full text...

  • Opposition mounts against Nigeria's new banking policy
    24 july 2004 15:45:00
    Lagos- Nigeria (PANA) -- There is growing opposition to the 25 billion-Naira new minimum capital requirement prescribed by the Central Bank of Nigeria (CBN) for all banks operating in the country. Full text...

  • Nigerian naira depreciates further against US dollar
    24 july 2004 14:24:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the naira, continued its depreciation against the US dollar at the official Dutch Auction System (DAS) segment of the Nigerian foreign exchange market this week, closing at 132. Full text...

  • Nigeria apex bank mops 79bn naira from financial system
    24 july 2004 13:23:00
    Lagos- Nigeria (PANA) -- A total of 79 billion naira was mopped up from the Nigerian financial system by the Central Bank of Nigeria (CBN) this week through the sale of treasury bills. Full text...

  • Technical fault forces SAA to diverted flight to Windhoek
    24 july 2004 10:48:00
    Cape Town- South Africa (PANA) -- A South Africa Airways (SAA) aircraft carrying 230 passengers Friday diverted to Windhoek, the Namibian capital, after pilots noticed a technical problem on the aircraft's fuel gauge, sources said here Saturday. Full text...

  • Wade demands western compensation for African cotton farmers
    23 july 2004 22:01:00
    Paris- France (PANA) -- President Abdoulaye Wade of Senegal called Friday on the European Union and the US to compensate for losses suffered by African cotton farmers as a consequence of subsidies paid their western counterparts. Full text...

  • Accra bourse posts weak weekend gain
    23 july 2004 19:33:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange (GSE) ended the week low Friday after 100-cedi loss by the Trust Bank of the Gambia. Full text...

  • Arab bank spends $3 billion to Africa
    23 july 2004 18:26:00
    Nouakchott- Mauritania (PANA) -- The Arab Bank for Economic Development in Africa (BADEA) had approved about US$2. Full text...

  • Trade union differs with cries over strengthening rand
    23 july 2004 16:58:00
    Johannesburg- South Africa (PANA) -- South Africa's trade union, United Associations of South Africa (UASA) has said local companies claiming that a strengthened rand was exerting pressure on the export sector should have made provisions for reserves during their heydays. Full text...

  • Zimbabwe clinches Angola railway deal
    23 july 2004 16:36:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's state-owned railways company said Friday it had clinched a lucrative deal to repair and refurbish Angola's railways system and locomotives. Full text...

  • New Malawi govt unearths US$90m scam
    23 july 2004 15:59:00
    Lilongwe- Malawi (PANA) -- The newly-inducted government of President Bingu wa Mutharika has disclosed that over 10 billion Malawi Kwacha (about US$90 million) was squandered through fraud and corruption by the administration of former president Bakili Muluzi. Full text...

  • Kibaki urges Kenyan civil servants to shun corruption
    23 july 2004 15:53:00
    Nairobi- Kenya (PANA) -- Kenyan President Mwai Kibaki Friday urged public servants to guard against corruption, abuse of office and influence peddling, saying this was one of the key pledges of his government to the people. Full text...

  • Zambian mine sacks 31 alleged incompetent expatriates
    23 july 2004 14:04:00
    Lusaka- Zambia (PANA) -- Zambia's Kansanshi Mining Plc has sacked 36 of its workers mostly from South Africa for their involvement in an industrial unrest earlier this week, a local daily reported Friday. Full text...

  • South African aviation highlighted at UK air show
    23 july 2004 13:26:00
    Cape Town- South Africa (PANA) -- The long history between Rolls- Royce and South Africa's aviation industry will be celebrated this weekend at the 2004 Farnborough International Air Show in England. Full text...

  • Sweden aids Kenya gather data, classify road network
    23 july 2004 13:02:00
    Nairobi- Kenya (PANA) -- Kenya and Sweden have begun a US$15 million road improvement project in the western region that involves classifying access roads and storage of data on digital maps, Roads and Public Works Minister Raila Odinga disclosed here Friday. Full text...

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