Economy -
  • Nigeria: Nigeria gets AfDB’s US$ 600m budget support loan
    03 november 2016 06:16:08
    Lagos, Nigeria (PANA) - The Board of the African Development Bank’s (AfDB) board on Wednesday approved a US$ 600 million loan for Nigeria to enable it fix its budget deficit and wriggle out of ongoing economic recession, according AfDB senior officials, who said the facility was the first tranche of the US$ 1 billion budget support package expected from the bank. Full text...

  • Nigeria: EU to spend 150 million euros on power sector in Nigeria
    03 november 2016 06:06:27
    Lagos, Nigeria (PANA) - The European Union (EU) will spend 150 million euros (N50 billion) on the development of the power sector in Nigeria, local media reported, quoting Michel Arrion, the ambassador and head of the EU Delegation to Nigeria. Full text...

  • Nigeria: CBN releases US$300 million to foreign airlines in Nigeria
    03 november 2016 05:57:32
    Lagos, Nigeria (PANA) - To cushion the effect of the cash squeeze affecting foreign airlines flying into Nigeria, the Central Bank of Nigeria (CBN) has released US$ 300 million out of the US$ 600 million airlines fund stuck in the country, according to local media reports. Full text...

  • Nigeria: Nigerian govt facilitates establishment of national carrier
    02 november 2016 18:44:44
    Abuja, Nigeria (PANA) – In its bid to facilitate the establishment of a new national airline next year, the Federal Government of Nigeria said Wednesday it intends to appoint a transaction adviser and encouraged as many people as possible to compete for the job. Full text...

  • Liberia: Liberia’s GDP growth projected to recover to about 3 percent in 2017
    02 november 2016 17:50:51
    Monrovia, Liberia (PANA) - Despite the successful elimination of the Ebola Virus Disease, the Liberian economy is still not recovering and the country's GDP in 2016 is projected to contract by 0.5 percent, mainly due to continued weakness of commodity exports, the International Monetary Fund (IMF) said Wednesday. Full text...

  • Nigeria: Nigeria's Manufacturing Purchasing Manager's Index declines in October
    02 november 2016 17:04:20
    Abuja, Nigeria (PANA) – Nigeria’s Manufacturing Purchasing Manager’s Index (PMI) recorded 44.1 index points for the month of October 2016, compared with the 42.5 figure recorded in September 2016, the Central Bank of Nigeria (CBN) said Wednesday. Full text...

  • Rwanda: Wednesday's forex rates for Rwandan franc
    02 november 2016 14:02:32
    Kigali, Rwanda (PANA) - The following are Wednesday's foreign exchange rates for the Rwandan Franc, as issued by the National Bank of Rwanda. Full text...

  • Mauritania: Wednesday's forex rates for Mauritanian Ouguiya
    02 november 2016 10:59:44
    Nouakchott, Mauritania (PANA) – Following are Wednesday's foreign exchange rates for the Mauritanian Ouguiya, as issued by the Central bank of Mauritania (BCM). Full text...

  • Gabon: Wednesday's forex rates for CFA franc in Central Africa
    02 november 2016 10:51:53
    Libreville, Gabon (PANA) – Following are Wednesday's foreign exchange rates for the CFAF in Central Africa, as issued by the Bank of Central African States (BEAC). Full text...

  • Seychelles: IMF, Seychelles agree on need for more progress on poverty reduction
    02 november 2016 09:00:05
    Victoria, Seychelles (PANA) - Against the backdrop of robust macroeconomic performance in 2016, Seychelles' growth outlook for 2017 remains positive, buoyed by foreign direct investment related projects in the tourism sector, according to the International Monetary Fund (IMF). Full text...

  • Zambia: Zambia's economic growth remains 'sluggish' in 2016 - IMF
    02 november 2016 08:47:44
    Lusaka, Zambia (PANA) - Zambia's economy continues to be under stress from the impact of external and domestic shocks and an unbalanced policy mix, an International Monetary Fund (IMF) team has observed during a two-week visit to the country at the invitation of Zambian authorities. Full text...

  • Gambia: Wednesday's forex rates for the Gambian Dalasi
    02 november 2016 06:52:35
    Banjul, Gambia (PANA) – The following are Wednesday’s exchange rates for the Gambian Dalasi as published by Trust Bank Gambia Ltd: Full text...

  • Ghana: Wednesday's exchange rates for Ghana cedi
    02 november 2016 05:37:48
    Accra, Ghana (PANA) - The following are Wednesday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Guinea: IMF Board approves US$25.2m disbursement to Guinea
    01 november 2016 13:49:00
    Conakry, Guinea (PANA) - After two difficult years marked by the Ebola epidemic, Guinea is set to benefit from a US$25.2 million immediate disbursement from the International Monetary Fund's Extended Credit Facility (ECF), the IMF Executive Board announced Tuesday. Full text...

  • Nigeria: Senate rejects President Buhari's request for US$29.96 billion external loan
    01 november 2016 12:59:42
    Abuja, Nigeria (PANA) – The Nigerian Senate Tuesday rejected President Muhammadu Buhari’s request for authorisation to borrow about US$30 billion. Full text...

  • Rwanda: Tuesday's forex rates for Rwandan franc
    01 november 2016 11:08:11
    Kigali, Rwanda (PANA) - The following are Tuesday's foreign exchange rates for the Rwandan Franc, as issued by the National Bank of Rwanda. Full text...

  • Mauritius: Tuesday's forex rates for Mauritian Rupee
    01 november 2016 09:58:39
    Port-Louis, Mauritius (PANA) – Following are Tuesday's foreign exchange rates for the Mauritian Rupee, as issued by the Commercial Bank of Mauritius. Full text...

  • Gambia: Tuesday's forex rates for Gambian Dalasi
    01 november 2016 06:34:35
    Banjul, Gambia (PANA) – The following are Tuesday’s foreign exchange rates for the Gambian currency, the Dalasi (D), as published by Trust Bank Gambia ltd. Full text...

  • Ghana: Tuesday's exchange rates for Ghana cedi
    01 november 2016 04:46:16
    Accra, Ghana (PANA) - The following are Tuesday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Tanzania: IMF says Tanzania remains at low risk of external debt distress
    31 october 2016 20:29:26
    Dar es Salaam, Tanzania (PANA) - Preliminary data for the first half of 2016 indicate that Tanzania’s economic growth was strong and that the projected growth rate of around 7 percent for the year as a whole remains within reach, a team of the International Monetary Fund (IMF) affirmed in a statement released here Monday. Full text...

  • South Africa: Charges against South African Finance Minister dropped
    31 october 2016 11:34:34
    Cape Town, South Africa (PANA) – Head of South Africa's National Prosecuting Authority (NPA) Shaun Abrahams on Monday withdrew fraud charges against Finance Minister Pravin Gordhan that had rattled the economy and affected the Rand currency. Full text...

  • Senegal: Senegalese Parliament passes new mining code
    31 october 2016 11:25:55
    Dakar, Senegal (PANA) – The Senegalese Parliament on Sunday evening adopted a new mining code that aims to reorganise the sector and better protect the country’s environment. Full text...

  • Mauritius: Monday's forex rates for Mauritian Rupee
    31 october 2016 08:42:21
    Port-Louis, Mauritius (PANA) – Following are Monday's exchange rates for the Mauritian Rupee, as issued by the Commercial Bank of Mauritius. Full text...

  • Gambia: Monday's forex rates for the Gambian Dalasi
    31 october 2016 06:49:01
    Banjul, Gambia (PANA) – The following are Monday’s exchange rates for the Gambian Dalasi as published by Trust Bank Gambia Ltd: Full text...

  • Nigeria: Niger Delta militants blow up another oil pipeline
    31 october 2016 06:30:16
    Abuja, Nigeria (PANA) - Niger Delta militants under the aegis of the Niger Delta Greenland Justice Mandate (NDGJM) late on Sunday night said they have blown up another 32-inch oil pipeline in Effurun-Otor, Delta state. Full text...

  • Ghana: Monday's exchange rates for Ghana cedi
    31 october 2016 05:41:16
    Accra, Ghana (PANA) - The following are Monday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Nigeria: Nigeria loses US$7billion to militancy in Niger Delta
    29 october 2016 12:38:27
    Abuja, Nigeria (PANA) - The Nigerian government has lost US$7 billion to the activities of militant groups and oil pipeline vandals in the Niger Delta region, the Group Managing Director of the NNPC, Dr Maikanti Baru, said in Abuja at the 2016 Fiscal Liquidity Assessment Committee Retreat. Full text...

  • Gambia: Saturday's forex rates for the Gambian Dalasis
    29 october 2016 06:44:29
    Banjul, Gambia (PANA) – The following are Saturday’s exchange rates for the Gambian currency, the Dalasi (D) as published by Trust Bank Gambia ltd: Full text...

  • UN: UN advisory panel urges greater investment in sustainable transport systems
    28 october 2016 19:38:18
    New York, US (PANA) - Greater investment in greener, more sustainable transport systems is essential for propelling the economic and social development for achieving the Sustainable Development Goals (SDGs), according to an expert panel report presented to UN Secretary-General Ban Ki-moon on Friday. Full text...

  • Mauritius: Friday's exchange rates for Mauritian rupee
    28 october 2016 11:41:18
    Port-Louis, Mauritius (PANA) – Following are Friday's exchange rates for the Mauritian rupee, as issued by the Commercial Bank of Mauritius. Full text...

  • Gambia: Friday's forex rates for the Gambian Dalasi
    28 october 2016 06:28:23
    Banjul, Gambia (PANA) – The following are Friday’s exchange rates for the Gambian Dalasi (D) as published by Trust Bank Gambia Ltd: Full text...

  • Ghana: Friday's exchange rates for Ghana cedi
    28 october 2016 05:43:02
    Accra, Ghana (PANA) - The following are Friday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • US: Afreximbank, KEXIM sign agreement to boost Africa-South Korea trade
    27 october 2016 15:48:54
    New York, US (PANA) - The African Export-Import Bank (Afreximbank) and the Export-Import Bank of Korea (KEXIM) have signed a Memorandum of Understanding (MoU) to inject US$ 100 million to support trade between Africa and South Korea. Full text...

  • US: Rwandan minister concerned about Africa’s US$50 billion annual losses
    27 october 2016 15:43:51
    New York, US (PANA) - The estimated US$50 billion being lost annually by Africa due to illicit financial flows should be a source of concern to the continent, especially as access to finance and capital was a key constraint to growth and economic development, Rwanda's Minister of Finance and Economic Planning, Mr. Claver Gatete, said. Full text...

  • Mauritania: Thursday's forex rates for Ouguiya
    27 october 2016 14:20:27
    Nouakchott, Mauritania (PANA) – Following are Thursday's exchange rates for the Ouguiya, as issued by the Central bank of Mauritania. Full text...

  • Mauritius: Mauritius mulls offshore wind energy
    27 october 2016 09:26:11
    Ebène, Mauritius (PANA) - French renewable energy industry expert Gautier de Martene on Wednesday said that Mauritius has the potential to develop offshore wind energy. Full text...

  • Mauritius: African Leadership Network to meet next week in Mauritius
    27 october 2016 08:44:03
    Port-Louis, Mauritius (PANA) - The African Leadership Network, a community of some of the most dynamic and influential leaders working to create change in Africa and that aims to contribute towards Africa's prosperity by strengthening relationships between leaders, will hold its annual gathering from 3 to 4 November in Mauritius. Full text...

  • Mauritius: Thursday's forex rates for Mauritian Rupee
    27 october 2016 08:35:09
    Port-Louis, Mauritius (PANA) – Following are Thursday's exchange rates for the Mauritian Rupee, as issued by the Commercial Bank of Mauritius. Full text...

  • Rwanda: Thursday's forex rates for Rwandan franc
    27 october 2016 06:55:13
    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...

  • Gambia: Thursday's forex rates for the Gambian Dalasi
    27 october 2016 06:25:28
    Banjul, Gambia (PANA) – The following are Thursday’s exchange rates for the Gambian Dalasi as published by Trust Bank Gambia Ltd: Full text...

  • Ghana: Thursday's exchange rates for Ghana cedi
    27 october 2016 05:34:21
    Accra, Ghana (PANA) - The following are Thursday's average interbank exchange rates for the Ghana cedi as announced by the Ghana Association of Bankers. Full text...

  • Uganda: IMF urges Uganda to improve lives of all citizens
    26 october 2016 18:48:23
    Kampala, Uganda (PANA) - Acknowledging Uganda's good economic performance in a complex environment, the International Monetary Fund (IMF) said Wednesday that the government needs, over the medium-term, to ensure that scaled-up infrastructure investment yields the targeted increase in GDP growth to improve the lives of all citizens and maintain the country's low risk of debt distress. Full text...

  • Nigeria: No plan to increase price of fuel in Nigeria, says NNPC
    26 october 2016 14:53:11
    Abuja, Nigeria (PANA) – The Nigerian National Petroleum Corporation (NNPC), the nation’s oil and gas conglomerate, Wednesday said there is absolutely no plan by the Federal Government to increase the pump price of petrol above 145 naira (about US$50) maximum level. Full text...

  • Mauritania: Wednesday's exchange rates for Ouguiya
    26 october 2016 14:35:03
    Nouakchott, Mauritania (PANA) – Following are Wednesday's foreign exchange rates for the Ouguiya, as issued by the Central bank of Mauritania (BCM). Full text...

  • Senegal: Malagasy named winner of Anzisha Grand Prize for African Youth Entrepreneurship
    26 october 2016 14:30:49
    Dakar, Senegal (PANA) - Heritiaina Randriamananatahina, 22-year-old agriculture entrepreneur from Madagascar was Wednesday declared winner of the US$25,000 Anzisha Grand Prize for African Youth Entrepreneurship. Full text...

  • Rwanda: Wednesday's forex rates for Rwandan franc
    26 october 2016 14:20:02
    Kigali, Rwanda (PANA) - The following are Wednesday's foreign exchange rates for the Rwandan Franc, as issued by the National Bank of Rwanda. Full text...

  • Tanzania: IMF urges prompt policy action for rebound in Sub-Saharan Africa's growth
    26 october 2016 12:50:30
    Dar es Salaam, Tanzania (PANA) - Most commodity exporting countries in Sub-Saharan Africa are under severe economic strain while the near-term prospects have worsened significantly in oil exporters in recent months, according to the International Monetary Fund (IMF)'s Director of the African Department, Abebe Aemro Selassie. Full text...

  • Gabon: Wednesday's forex rates for CFAF in Central Africa
    26 october 2016 12:44:18
    Libreville, Gabon (PANA) – Following are Wednesday's foreign exchange rates for the CFAF in Central Africa, as issued by the Bank of Central African States (BEAC). Full text...

  • Mauritius: Wednesday's exchange rates for Mauritian Rupee
    26 october 2016 10:36:30
    Port-Louis, Mauritius (PANA) – Following are Wednesday's exchange rates for the Rupee, as issued by the Commercial bank of Mauritius. Full text...

  • Gambia: Wednesday's forex rates for the Gambian Dalasi
    26 october 2016 06:33:23
    Banjul, Gambia (PANA) – The following are Wednesday’s exchange rates for the Gambian Dalasi as published by Trust Bank Gambia Ltd: Full text...

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