Economy -
  • African Bank deal improves access to credit
    14 june 2001 22:38:00
    Cape Town- South Africa (PANA) -- Edgars Consolidated Stores (Edcon) and African Bank Thursday announced an alliance that would see African Bank products sold in 200 branches of Edgars, Sales House and Jet. Full text...

  • Wade to set up bank to fight poverty
    14 june 2001 22:33:00
    Dakar- Senegal (PANA) -- Senegalese President Abdoulaye Wade Thursday advocated the creation of a "solidarity bank" along the Tunisian model, to help fight poverty in his country. Full text...

  • Liberia brainstorms on stock exchange creation
    14 june 2001 21:11:00
    Monrovia- Liberia (PANA) -- Liberia's National Investment Commission (NIC) Thursday announced plans to establish a stock exchange here within 90 to 180 days following consultations with key economic players in the country. Full text...

  • Sudan, Ethiopia seal oil deal
    14 june 2001 21:10:00
    Khartoum- Sudan (PANA) -- Ethiopia on Thursday signed an agreement for the purchase of petroleum products from Sudan. Full text...

  • EU grants a million euro in food aid to Chad
    14 june 2001 21:04:00
    Brussels- Belgium (PANA) -- The European Union (EU) has granted a million euro food aid (1 euro = 0. Full text...

  • Sugar Industry to cut jobs
    14 june 2001 20:58:00
    Port Louis- Mauritius (PANA) -- Mauritian Agriculture, Food Technology and Natural Resources Minister, Pravind Jugnauth said the country's Sugar industry is to shed an undisclosed number of jobs under a restructuring programme. Full text...

  • New banknotes for South Africa
    14 june 2001 20:38:00
    Cape Town- South Africa (PANA) -- The South African Reserve Bank (SARB) is designing a new series of banknotes which will be launched in approximately two years. Full text...

  • Public Workers' Strike Enters Fourth Week
    14 june 2001 17:50:00
    Lusaka- Zambia (PANA) -- Social services in Zambia have almost come to a halt as the strike by public service workers demanding better wages and working conditions entered its fourth week Thursday. Full text...

  • Bank intervenes to salvage ailing Kwacha
    14 june 2001 17:12:00
    Lusaka- Zambia (PANA) -- Bank of Zambia has raised the statutory reserve ratios on both the Kwacha and foreign currency deposit liabilities from 10 percent to 12. Full text...

  • Compact African recovery plan focuses on partnership
    14 june 2001 16:31:00
    Dakar- Senegal (PANA) -- As the marketplace for ideas on African development strategies expands, a common denominator - partnership - sticks out in most of the plans so far exposed. Full text...

  • Commission Recommends 167 Products For Duty Exemption
    14 june 2001 15:50:00
    Lagos- Nigeria (PANA) -- An ECOWAS Commission has recommended 167 new products to benefit from the organisation's Trade Liberalisation Scheme, exempting designated products from customs duty within Member States. Full text...

  • OMEGA plan conference winds up
    14 june 2001 15:43:00
    Dakar- Senegal (PANA) -- A three-day international conference on the "OMEGA Plan" ended in Dakar Wednesday by expressing optimism that it would serve as "the engine of single initiative to reverse Africa's backwardness compared with developed countries. Full text...

  • All share index rises with share price increase
    14 june 2001 08:56:00
    Lusaka- Zambia (PANA) -- Equity on the Lusaka Stock Exchange Wednesday closed 2. Full text...

  • Mozambican, Tanzanian customs sign agreement
    13 june 2001 23:23:00
    Maputo- Mozambique (PANA) -- Mozambique and Tanzania have signed a memorandum of understanding under which customs services in the two countries would cooperate in fighting smuggling and tax evasion. Full text...

  • Leading South African bank strikes big deal with IBM
    13 june 2001 22:05:00
    Cape Town- South Africa (PANA) -- South African Bank, Absa, Tuesday signed an agreement with IBM valued at approximately 20 million US dollars over five years, that would make IBM the sole supplier of technology for Absa's desktop environment. Full text...

  • Compact: A technical rudder for MAP and OMEGA
    13 june 2001 20:27:00
    Dakar- Senegal (PANA) -- Bidding for a common development plan for Africa, Finance ministers meeting last month in Algiers, advocated a merger of the "Omega" plan proposed by Senegalese President Abdoulaye Wade and the African Recovery Plan (MAP) conceived by Presidents Thabo Mbeki of South Africa, Olusegun Obasanjo of Nigeria and Abdelaziz Bouteflika of Algeria. Full text...

  • Pretoria spearheads Millennium African Recovery Programme (MAP)
    13 june 2001 19:58:00
    Cape Town- South Africa (PANA) -- South Africa's Information and Communication Technologies (ICT) Forum has been working on the Millennium African Recovery Programme (MAP) that would be presented to the Organisation of African Unity summit in July. Full text...

  • DR Congo exports 1.3 million carats of diamond in April
    13 june 2001 17:03:00
    Kinshasa- DR Congo (PANA) -- Regular exports of diamonds mined by industrial and traditional methods from DR Congo last April amounted to 1,365,547 carats which gained a total 24 million US dollars, the ministry of mines said. Full text...

  • Consumer prices in Niger up 0.4 percent in May
    13 june 2001 15:41:00
    Niamey- Niger (PANA) -- Harmonised consumer price index in Niger rose by 0. Full text...

  • Tax exemption on computer equipment
    13 june 2001 13:07:00
    Cotonou- Benin (PANA) -- Benin government has waived taxes on computers and software imported throughout this year, a senior customs official said. Full text...

  • Zimbabwe Increases Fuel Prices
    13 june 2001 09:25:00
    Harare- Zimbabwe (PANA) -- Battling to solve a two-year fuel shortage, the Zimbabwe government Wednesday increased prices for the commodity by 70 percent. Full text...

  • Zimbabwe's Bus Operators Turn Into Hauliers
    13 june 2001 09:18:00
    Mutare- Zimbabwe (PANA) -- Zimbabwe's bus operators are not sure they are still in the passenger transport business. Full text...

  • Inflation goes up in Botswana
    12 june 2001 23:42:00
    Gaborone- Botswana (PANA) -- The Botswana national year-on-year inflation rate rose by 0. Full text...

  • Regional business turns its back on "Ivoirité"
    12 june 2001 23:32:00
    Abidjan- Cote d'Ivoire (PANA) -- "Money knows no borders," Ivorian President Laurent Gbagbo told newsmen from the Malian state television at the recent inauguration of a ginning company belonging to Malian tycoon Cheikna Kagnassi in M'Bengue, about 700 km north of Abidjan. Full text...

  • Investment forum opens in Ouagadougou
    12 june 2001 23:30:00
    Ouagadougou- Burkina Faso (PANA) -- The forum to market investment opportunities in Burkina Faso rolled off Tuesday in Ouagadougou with some 500 potential investors from Africa, Europe, America and Asia in attendance. Full text...

  • Morocco earns 586 million US dollars from tourism
    12 june 2001 23:03:00
    Rabat- Morocco (PANA) -- Morocco realised more than 586 million US dollars from tourism during the first quarter of this year, according to the Economy, and Finance Ministry. Full text...

  • UEMOA gets Tourism Directory
    12 june 2001 21:52:00
    Niamey- Niger (PANA) -- The West African Economic and Monetary Union (UEMOA) has unveiled an economic and tourist directory, known as "UEMOA Market," and designed to bring economic operators closer to consumers. Full text...

  • Sierra Leone comes off donor meeting with no pledges
    12 june 2001 21:11:00
    Paris- France (PANA) -- A World Bank-organised donor conference on Sierra Leone wound up Tuesday in Paris with no specific amounts pledged for a trust fund set up for the war- ravaged West African country. Full text...

  • Shadow cabinet releases its budget
    12 june 2001 20:09:00
    Nairobi- Kenya (PANA) -- Kenya's shadow government Tuesday released its proposals on how the economy should be run in the 2001/2002 financial year, ahead of finance minister Chris Okemo's official budget speech on Thursday. Full text...

  • Italy to cancel Ghana's debt
    12 june 2001 20:03:00
    Accra- Ghana (PANA) -- Italy Tuesday announced its intention to cancel about 100 million dollars commercial and bilateral debt owed it by Ghana as part of relief to the Highly Indebted and Poor Countries (HIPC). Full text...

  • UNDP to launch 2001 Human Development Report in July
    12 june 2001 19:27:00
    Dakar- Senegal (PANA) -- The United Nations Development Programme said Tuesday it would launch the 2001 Human Development Report in Mexico City10 July. Full text...

  • Morocco records more trade deficit
    12 june 2001 18:09:00
    Rabat- Morocco (PANA) -- The deficit of Morocco's trade balance got compounded by 22 percent at the end of the first quarter of 2001, according to the Foreign Exchange Office. Full text...

  • African Insurance Controllers undergo training
    12 june 2001 17:53:00
    Lome- Togo (PANA) -- About 100 controllers from 14 countries of the franc zone are undergoing a five-day training workshop in Lome on the provisions of the Code of the InterAfrican Conference of Insurance markets (CIMA). Full text...

  • Wade urges Africans to prioritise development funding
    12 june 2001 17:39:00
    Dakar- Senegal (PANA) -- Senegalese President Abdoulaye Wade is urging Africans to realistically seek funds for the continent's development. Full text...

  • Kenya wants trade imbalances with Italy corrected
    12 june 2001 17:12:00
    Nairobi- Kenya (PANA) -- Authorities in Nairobi say they are advocating measures to correct the existing trade imbalance between Kenya and Italy, as the latter records more trade volume. Full text...

  • Zimbabwe Share Prices Tumble
    12 june 2001 17:07:00
    Harare- Zimbabwe (PANA) -- Share prices on the Zimbabwe Stock Exchange (ZSE) tumbled sharply Tuesday as investors took profit to raise funds for an attractive Initial Public Offer (IPO) by a bank opening next week. Full text...

  • Nigeria stock exchange daily equities trading
    12 june 2001 16:39:00
    Lagos- Nigeria (PANA) -- The daily equities trading at the Nigeria Stock Exchange for Monday, whereby a total of 14. Full text...

  • Economists welcome African self-help initiatives
    12 june 2001 16:15:00
    Dakar- Senegal (PANA) -- Researchers attending the international conference of economists on the OMEGA Plan, which opened in Dakar Monday, have expressed support for the African self-help initiatives, drawn from various strategies and formulated by Presidents Abdoulaye Wade of Senegal and Thabo Mbeki of South Africa. Full text...

  • Kwacha drops 25 points as depreciation continues
    12 june 2001 14:57:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha lost its temporary anchoring on Tuesday and went to a new level of exchange against the US dollar as the see-saw between supply and demand took a more vigorous turn. Full text...

  • KLM expands service to South Africa
    12 june 2001 14:05:00
    Cape Town- South Africa (PANA) -- KLM Royal Dutch Airlines Tuesday said it would soon introduce two additional weekly flights between Amsterdam and Johannesburg. Full text...

  • NGOs want enquiry into DRC plunder
    12 june 2001 12:20:00
    Kinshasa- DR Congo (PANA) -- Sixteen Belgian NGOs are demanding the creation of parliamentary enquiry into the alleged involvement of the Kingdom's companies in looting natural resources from the Democratic Republic of Congo (DRC). Full text...

  • Kenya, Uganda seek cross border investments
    12 june 2001 10:30:00
    Nairobi- Kenya (PANA) -- Kenya and Uganda have initiated strategic cross-border investment strategies aimed at accelerating economic development within the East African region. Full text...

  • World Bank finances fewer projects in Benin
    12 june 2001 10:11:00
    Cotonou- Benin (PANA) -- The World Bank had spent 184. Full text...

  • EU accused of fearing real competition
    12 june 2001 09:00:00
    Cape Town- South Africa (PANA) -- Distell's managing director Jan Scannell has denounced developed countries for using aid and supposed trade preferences to developing nations to promote protectionist policies. Full text...

  • Niger gets 60 billion CFA francs loan from World Bank
    11 june 2001 23:37:00
    Niamey- Niger (PANA) -- The World Bank has granted Niger a loan of 60 billion CFA francs for its Water Project (PSE), official sources said Monday. Full text...

  • Air traffic slows but passengers increase
    11 june 2001 22:56:00
    Accra- Ghana (PANA) -- Air traffic at Ghana's Kotoka International Airport (KIA) has declined following the reduction of flight frequencies by some African airlines whilst others have ceased operation, the Ghana News Agency reported Monday. Full text...

  • GSE all-share index inches up
    11 june 2001 22:55:00
    Accra- Ghana (PANA) -- The GSE All-Share Index, the benchmark index of the Accra bourse, inched up a modest 0. Full text...

  • Out of court telecom settlement raises eyebrows in South Africa
    11 june 2001 22:51:00
    Johannesburg- South Africa (PANA) -- The South African government's out-of-court settlement with a company opposing the awarding of the country's third cellular licence to Cell C has raised eyebrows. Full text...

  • Morocco-Togo Commission set up
    11 june 2001 22:44:00
    Rabat- Morocco (PANA) -- Morocco and Togo Monday set up a joint Co-operation Commission to strengthen their economic and commercial ties, on the fringe of President Gnassingbe Eyadema's visit to Morocco. Full text...

  • Arrival of Zimbabwean farmers temporarily on hold
    11 june 2001 22:09:00
    Maputo- Mozambique (PANA) -- Financial problems have delayed the arrival of Zimbabwean commercial farmers who were supposed to invest in the central Mozambican province of Manica this year. Full text...

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