Economy -
  • Cape Verdians to examine private sector development
    23 may 2001 22:50:00
    Praia- Cape Verde (PANA) -- The people of the Cape Verdian Archipelago have planned a private sector development meeting for Friday and Saturday in Praia to examine problems the country was experiencing in fisheries, agriculture, trade, industry, services and tourism Some 300 participants will attend the meeting, which was organised by several organisations, including the chamber of commerce, industry and agriculture as well as the government. Full text...

  • France gives Mozambique 5.6 million dollars to repair roads
    23 may 2001 22:20:00
    Maputo- Mozambique (PANA) -- The French government on Wednesday made available 6. Full text...

  • Govt urged to probe plight of private sector employees
    23 may 2001 21:34:00
    Lusaka- Zambia (PANA) -- Zambia's Public Interest Foundation Organisation Wednesday called on the government to probe reports of poor conditions of service given employees in the private sector in order to ensure that they are not abused. Full text...

  • 2001 development report predicts catastrophe for LDCs
    23 may 2001 21:11:00
    Nouakchott- Mauritania (PANA) -- The repercussions of global recession could be catastrophic for developing countries, UNDP resident representative in Mauritania, Michel de la Taille said in Nouakchott. Full text...

  • Mauritian workers reject 5 percent compensation
    23 may 2001 20:19:00
    Port-Louis- Mauritius (PANA) -- Mauritian trade unions and employers have rejected a 5-percent salary compensation to workers offered by the government on Wednesday. Full text...

  • Stanchart loss pulls GSE index down
    23 may 2001 19:44:00
    Accra- Ghana (PANA) -- Standard Chartered Bank (SCB), the second most capitalised equity on the Ghana Stock Exchange after Ashanti Goldfields Company, lost a whopping 700 cedis to push the benchmark GSE All-Share Index down by 5. Full text...

  • West African Justice Ministers against corruption
    23 may 2001 18:57:00
    Accra- Ghana (PANA) -- West African Justice Ministers have called for a joint international diplomatic and legal action to retrieve illegal wealth stashed in financial institutions abroad. Full text...

  • Minister wants banks penalised for keeping stolen money
    23 may 2001 18:54:00
    Accra- Ghana (PANA) -- Nigerian Justice Minister Justice Musa Elayo Abdullahi, said Wednesday in Accra that overseas institutions that keep stolen State money should be punished along with the principal culprits. Full text...

  • Nigerian Anti-corruption trials open
    23 may 2001 17:41:00
    Abuja- Nigeria (PANA) -- The much-awaited trial of top public office holders by Nigeria's anti-corruption Commission began in the nation's capital, Abuja, Wednesday without any of the speculated big names on the cause list. Full text...

  • Nujoma on benefits of Free Trade Area
    23 may 2001 15:54:00
    Cairo- Egypt (PANA) -- Namibian President Sam Nujoma, has appealed to leaders of the Common Market for Eastern and Southern African (COMESA), countries to avoid conflicts so as to enjoy the benefits of the Free Trade Area (FTA) launched by the region in Lusaka last year. Full text...

  • Mubarak allays fears of lost revenue in COMESA trading
    23 may 2001 15:24:00
    Cairo- Egypt (PANA) -- Egyptian President Hosni Mubarak Wednesday allayed fears by some members of the Common Market for Eastern and Southern Africa (COMESA) that accession to a free trade area (FTA) would result in decreased members' trading revenue. Full text...

  • Zambian Trade Union on corruption charges
    23 may 2001 15:07:00
    Lusaka- Zambia (PANA) -- The Zambia Congress of Trade Unions, (ZCTU) has challenged the government to clear allegations of corruption and mismanagement of funds reported by a section of the country's media. Full text...

  • Businessmen urged to assist officials
    22 may 2001 22:48:00
    Rabat- Morocco (PANA) -- Senegal's ambassador to Morocco Doudou Diop has called on Moroccan and Senegalese businessmen to enhance trade links to compliment the existing excellent relations between the top leadership in the two countries. Full text...

  • ADF approves 12.65 million dollars in loan for Mauritania
    22 may 2001 21:24:00
    Dakar- Senegal (PANA) -- The Abidjan-based African Development Fund (ADF) has approved a loan of 10 million Units of Account (approximately 12. Full text...

  • Sudan gets 10 million-dollar OPEC loan
    22 may 2001 20:36:00
    Khartoum- Sudan (PANA) -- Sudan has obtained a loan of 10 million U. Full text...

  • UAE lifts ban on Sudanese livestock
    22 may 2001 19:58:00
    Khartoum- Sudan (PANA) -- The United Arab Emirates (UAE) has lifted its ban on livestock imports from Sudan, Mohammed Salih Jabalabi, under-secretary of animal resources announced Tuesday in Khartoum. Full text...

  • Tobacco production rising in Tete
    22 may 2001 19:48:00
    Maputo- Mozambique (PANA) -- The director general General Director of the Zambezi Development Planning Office (GPZ), Sergio Vieira, has expressed hopes that tobacco leaf production in the western Mozambican province of Tete would reach 10,000 tonnes in the 2001 crop season. Full text...

  • Connoisseur extols Namibia's cottage jewel industry
    22 may 2001 17:09:00
    Windhoek- Namibia (PANA) -- An American observer has acknowledged Namibia's small-time jewel sector as not only well established but also of high standards and rapidly growing. Full text...

  • Privatisation puts 357 million dollars into state coffers
    22 may 2001 16:26:00
    Addis Ababa- Ethiopia (PANA) -- Ethiopia's privatisation agency has sold over 3 billion birr (over 357 million US dollars) by selling 200 state-owned businesses nationalised by the Marxist military regime of former dictator Mengistu Haile Mariam, the official press reported Tuesday. Full text...

  • South African company increases shareholding in Zambia
    22 may 2001 16:10:00
    Lusaka- Zambia (PANA) -- The giant South African sugar manufacturing company, Illovo Sugar Limited, has wrestled a substantial amount of shares from minority shareholders to hoist its total volume to more than 89 percent of the shareholding in Zambia Sugar Plc. Full text...

  • Travelex chairman arrives in South Africa
    22 may 2001 15:33:00
    Cape Town- South Africa (PANA) -- Lloyd Dorfman, chairman and chief executive of the largest non-bank foreign exchange business in the world, Travelex, who are the new owners of Thomas Cook Global and Financial Services (TCGFS), is in South Africa on a three-day official visit. Full text...

  • Tourism expert predicts boom in sub-Saharan Africa
    22 may 2001 15:04:00
    Cape Town- South Africa (PANA) -- Lorig Yekhpairian, vice president for travel industry relations of the American Express, said turnover from tourism is expected to almost double in sub- Saharan Africa over the next decade. Full text...

  • Zimbabwe farmers finally deliver tobacco to market
    22 may 2001 14:55:00
    HARARE- Zimbabwe (PANA) -- Zimbabwean tobacco farmers, faced with a stubborn government's refusal to to devalue the local currency, have broken their sales boycott and begun delivering the crop to auction floors, industry executives said on Tuesday. Full text...

  • Trading upbeat Tuesday at Lusaka Stock Exchange
    22 may 2001 14:05:00
    Lusaka- Zambia (PANA) -- The benchmark Lusaka Stock Exchange all share index was 157 points higher at the resumption of trading Tuesday, after shares in some companies appreciated in value. Full text...

  • Small investors hunt for fortunes on stock market
    22 may 2001 13:37:00
    Harare- Zimbabwe (PANA) -- At first glance, Jennifer Zacharia passes for an ordinary vegetable vendor solely eking out a living from selling an assortment of fresh foods in central Harare, Zimbabwe's capital. Full text...

  • Namibian gemstone traders, jewellers target US market
    22 may 2001 11:58:00
    Windhoek- Namibia (PANA) -- A workshop is underway in Windhoek by manufacturers and traders of gemstones and jewellery in Namibia, to the assess market structure and channels of distribution for the prized products, the Namibia Chamber of Commerce said. Full text...

  • Namibian gemstone traders, jewellers target US market
    22 may 2001 11:57:00
    Windhoek- Namibia (NAMPA) -- A workshop is underway in Windhoek by manufacturers and traders of gemstones and jewellery in Namibia, to the assess market structure and channels of distribution for the prized products, the Namibia Chamber of Commerce said. Full text...

  • Kenyan Bourse in major plunge
    22 may 2001 10:34:00
    Nairobi- Kenya (PANA) -- Trading at Kenya's Nairobi Stock Exchange (NSE) slumped to an all-time low in April 2001, with the All-share Index declining to below 1,800 mark. Full text...

  • COMESA Small-scale enterprises form Association
    22 may 2001 08:38:00
    Windhoek- Namibia (PANA) -- Entrepreneurs from the Common Market for Eastern and Southern Africa (COMESA), have launched a Small- and Medium-scale Enterprises Association (COSMEA). Full text...

  • ADB grants relief package to Mozambique
    21 may 2001 22:23:00
    Abidjan- Côte d'Ivoire (PANA) -- The Board of Directors of the African Development Bank approved Monday a humanitarian emergency relief aid of 500,000 dollars to support victims of the recent floods in Mozambique. Full text...

  • Cote d'Ivoire Owes ADB 25 billion F CFA
    21 may 2001 21:53:00
    Abidjan- Cote d'Ivoire (PANA) -- Cote d'Ivoire owes 37 million US dollars in debt arrears to the African Development Bank (ADB). Full text...

  • ADB approves 500,000 dollars for Mozambique flood victims
    21 may 2001 21:25:00
    Dakar- Senegal (PANA) -- The African Development Bank (ADB) Monday approved a grant of 500,000 US dollars to finance the humanitarian emergency relief support for the victims of the floods that affected in Mozambique. Full text...

  • OECD countries agree to increase aid to LDCs
    21 may 2001 21:12:00
    Brussels- Belgium (PANA) -- Least Developed Countries (LDCs) concluded a UN organised conference in Brussels Sunday after adopting a programme of action whose goal is to improve their lot during the 2001-2010 decade. Full text...

  • ADB approves 500,000 dollars for Malawi flood victims
    21 may 2001 21:09:00
    Dakar- Senegal (PANA) -- The African Development Bank Monday approved a grant of 500,000 US dollars to finance humanitarian emergency relief support for victims of the floods that affected Malawi this year. Full text...

  • Accra bourse index inches up again
    21 may 2001 20:35:00
    Accra- Ghana (PANA) -- The benchmark Ghana Stock Exchange All-Share Index gained 0. Full text...

  • Mauritania gets 30 million-US-dollar ADB loan
    21 may 2001 17:19:00
    Dakar- Senegal (PANA) -- The Board of Directors of the African Development Bank (ADB), has approved a loan of 22. Full text...

  • Kenya Airways monopolises Nairobi freight services
    21 may 2001 16:36:00
    Nairobi- Kenya (PANA) -- Negotiations are almost complete for Kenya Airways (KQ) to acquire African Cargo Handling Services Limited (ACHL), its major competitor in ground aircraft and cargo handling at Nairobi's Jomo Kenyatta international airport (JKIA). Full text...

  • Zambian Kwacha depreciates further
    21 may 2001 15:53:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha dipped further Monday, although analysts predicted that it could stabilise later in the week when the supply of hard currency is expected to improve. Full text...

  • Zimbabwean company bids for shares in COMESA's COMTEL
    21 may 2001 14:14:00
    Lusaka- Zambia (PANA) -- TeleAccess of Zimbabwe is bidding for 30 percent of the shares in COMTEL Communications Company Limited, an outfit that plans to build and operate a regional network to cover 20 member states of the Common Market for Eastern and Southern Africa (COMESA). Full text...

  • Enticed by tax cuts, Zimbabweans turn to pedal power
    21 may 2001 07:22:00
    Harare- Zimbabwe (PANA) -- Enticed by tax cuts, more and more Zimbabweans are turning to bicycles to escape rising transport costs which have been worsened by frequent fuel shortages in the country. Full text...

  • Kenyatta International Airport gets facelift
    20 may 2001 10:49:00
    Nairobi- Kenya (PANA) -- Kenya Airways says it is spending some 200 million Kenya shillings (about 2. Full text...

  • China invests 173 million rupees in Mauritian seaport
    20 may 2001 10:31:00
    Port Louis- Mauritius (PANA) -- The Shenzhen Shenfubao Group of China has signed a Memorandum of Understanding with the Mauritius port Authority to construct a Freeport House and carry out other operations under an investment package of 173 million rupees (about 6 million US dollars). Full text...

  • EU resumes financial co-operation with Congo
    19 may 2001 11:49:00
    Brussels- Belgium (PANA) -- The European Union (EU) has granted the Republic of Congo 41. Full text...

  • Mozambique and steel firm sign implementation agreement
    19 may 2001 09:22:00
    Maputo- Mozambique (PANA) -- The Mozambican government and the US corporation Enron have signed an implementation agreement for the Maputo Iron and Steel Project (MISP). Full text...

  • World Bank denies opposing intervention in Austral Bank
    18 may 2001 23:41:00
    Maputo- Mozambique (PANA) -- The World Bank has denied that it opposed the Mozambican state's intervention in the country's third largest commercial bank, the Austral Bank, in early April when private shareholders, unwilling or unable to re-capitalise the bank, pulled out. Full text...

  • PM Mocumbi calls for responsible use of fisheries
    18 may 2001 23:32:00
    Maputo- Mozambique (PANA) -- Mozambican Prime Minister Pascoal Mocumbi Friday called for the "responsible exploitation" of marine resources available in the Southern African Development Community (SADC) for the benefit of all member countries. Full text...

  • DR Congo, IMF agree on transitional reform programme
    18 may 2001 23:30:00
    Kinshasa- DR Congo (PANA) -- DR Congo authorities and the IMF have agreed on an enhanced transitional programme of at least one year including a set of measures to attenuate the degradation of the country's economy. Full text...

  • Faulty wiring paralyses banking system
    18 may 2001 22:05:00
    Gaborone- Botswana (PANA) -- The Botswana banking system was paralysed Friday by a serious telecommunication breakdown that caught bankers and thousands of customers completely unawares. Full text...

  • Mauritius plans 50 billion rupees investment
    18 may 2001 21:38:00
    Port Louis- Mauritius (PANA) -- The Mauritian government Friday announced plans to invest 50 billion rupees for the improvement of public infrastructure during the next five years. Full text...

  • Hunt lands Togolese oil exploration deal
    18 may 2001 21:24:00
    Lome- Togo (PANA) -- Togo had signed an agreement with an American company, Hunt, for the latter to explore for oil off the Togolese coast. Full text...

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