Economy -
  • Bourse gets buoyed by heavy trading
    24 july 2001 17:43:00
    Nairobi- Kenya (PANA) -- Buoyed by heavy trading on the Special Board, turnover at the Nairobi Stock Exchange Tuesday rose to 24 million Kenyan shillings (about 30. Full text...

  • ADF lends Kenya 26 million dollars for road improvement
    24 july 2001 16:47:00
    Nairobi- Kenya (PANA) -- The African Development Fund (ADF) has approved a loan of 26 million dollars to fund the improvement of Kenya's rural roads. Full text...

  • Consortium increases stake in Kenya Telecom
    24 july 2001 12:36:00
    Nairobi- Kenya (PANA) -- Mount Kenya Communications Consortium of South African and Zimbabwean investors have offered to pay an addition 20 million dollars on top of their initial 305 million dollars bid to pick up 49 percent of the share capital of Telkom Kenya owned by the government. Full text...

  • China cancels 40 million dollars of Zambian debt
    24 july 2001 12:21:00
    Lusaka- Zambia (PANA) -- The Chinese government has cancelled 40 million US dollars of out of Zambia's total debt of 121 million US dollars owed to Beijing. Full text...

  • African central bank governors to meet in Johannesburg
    24 july 2001 11:41:00
    Cape Town- South Africa (PANA) -- The South African Reserve Bank will host a symposium and meeting of the Governors of the Association of African Central Banks in Johannesburg from 14 to 16 August. Full text...

  • Algeria earmarks part of GDP to help the poor
    24 july 2001 10:19:00
    Algiers- Algeria (PANA) -- Algerian Prime Minister Ali Benflis said the government had earmarked between 6 and 8 percent of the Gross Domestic Product to improve the welfare of the poor people between 1993 and 2001. Full text...

  • Zambia's GDP growth target comes under threat
    24 july 2001 09:13:00
    Lusaka- Zambia (PANA) -- Lower international copper and cobalt prices are expected to prevent Zambia from attaining its target of a 5-percent Gross Domestic Product growth this year. Full text...

  • Changes expected at new power company
    23 july 2001 23:54:00
    Yaounde- Cameroon (PANA) -- A US group, AES Sirocco Limited, buyer of the National Electricity Company (SONEL), has announced important changes in the company. Full text...

  • Consumers' union calls for "Dead City" day
    23 july 2001 21:48:00
    Abidjan- Cote d'Ivoire (PANA) -- The General Union of Consumers in Cote d'Ivoire (UGCCI) Monday called on Ivorians to observe Wednesday as "dead city" day nation-wide as a protest against a proposed hike in electricity rates. Full text...

  • Namibia urges nationals to tour country
    23 july 2001 20:19:00
    Windhoek- Namibia (PANA) -- In a bid to promote internal tourism, Namibia's Environment and Tourism ministry is urging citizens to travel extensively and know their country. Full text...

  • NSE daily trading summary
    23 july 2001 20:13:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigerian Stock Exchange for Monday, 23 July 2001. Full text...

  • NEPA Announces Special Scheme For Industries
    23 july 2001 19:42:00
    Lagos- Nigeria (PANA) -- More than five months to the presidential deadline for Nigeria's state-owned power monopoly, National Electric Power Authority (NEPA), to ensure uninterrupted power supplies in the country, the company has announced plans to supply industries in the economic hub of Lagos with at least 22 hours of electricity daily. Full text...

  • Insecurity costs jobs in parts of Namibia
    23 july 2001 19:11:00
    Windhoek- Namibia (PANA) -- More than 200 employees have lost their jobs from business closures in the past 12 months in Namibia's Caprivi and Kavango regionsdue to instability in the regions. Full text...

  • Namibia hopes to stop power imports
    23 july 2001 17:33:00
    Windhoek- Namibia (PANA) -- Namibia could stop importing its energy requirements from South Africa and Zambia if a plan to build Epupa hydroelectric power plant is established in the northwestern Kunene region on the border with southern Angola. Full text...

  • Namibian government gets mining corporation's shares
    23 july 2001 16:37:00
    Windhoek- Namibia (PANA) -- Namibian Minerals Corporation on Monday awarded the Namibian government share certificates worth 20 million Namibian dollars. Full text...

  • Malawi Suspends Privatisation Programme
    23 july 2001 15:57:00
    Blantyre- Malawi (PANA) -- Malawi government has halted privatisation of its firms until the cabinet of President Bakili Muluzi reviews the progress made since 1995 and decides on the next step to be taken. Full text...

  • Significant rise in Pointe-Noire's port traffic
    23 july 2001 15:57:00
    Brazzaville- Congo (PANA) -- Traffic passing through the southern Congolese port of Pointe-Noire increased by 38. Full text...

  • Carolus appointed to head South African tourism
    23 july 2001 15:08:00
    Cape Town- South Africa (PANA) -- South Africa's High Commissioner in London, Cheryl Carolus, has been appointed the new head of South African tourism and will assume her new position over the next three months. Full text...

  • EU aid in the pipeline for DR Congo
    22 july 2001 19:32:00
    Kinshasa- DR Congo (PANA) -- Visiting European commissioner for Development Paul Nielson this week declared that the European Union was considering provisional assistance of up to 120 million euros to DR Congo, saying a final decision would be taken upon his return to Brussels. Full text...

  • Mozambique plans new Faculty to boost tourism
    22 july 2001 16:24:00
    Inhambane- Mozambique (PANA) -- Mozambican authorities are carrying out a feasibility study for the establishment of a Catering and Tourism Faculty in the southern province of Inhambane. Full text...

  • First Quantum Minerals opens new mine
    22 july 2001 16:04:00
    Lusaka- Zambia (PANA) -- First Quantum Minerals has opened a new mine in Zambia close to the border with DR Congo with a potential reserve of about 1. Full text...

  • BOAD loans Benin 3 billion cfa for network extension
    22 july 2001 15:26:00
    Cotonou- Benin (PANA) -- The West African Development Bank (BOAD) has loaned Benin three billion cfa francs to fund an extension to its mobile telephone network under the Titan/OPT- Benin project. Full text...

  • Tea growers reject South African boilers
    22 july 2001 14:06:00
    Nairobi- Kenya (PANA) -- Farmers from Kericho, Kenya's largest tea growing area, have rejected several boilers imported from South Africa with claims that they were sub-standard and could not fit in any tea processing factory. Full text...

  • British firm to invest 80 million rupees in Mauritius
    21 july 2001 19:22:00
    Port Louis- Mauritius (PANA) -- A British firm, Drennan International, will invest 80 million rupees in industrial and tourism projects in Mauritius, its director, Sally Drennan, said Saturday in Port-Louis. Full text...

  • Government clash with Cosatu foreseen in planned strikes
    21 july 2001 17:43:00
    Johannesburg- south Africa (PANA) -- South Africa's main labour association and the government are set to clash over planned strikes by electricity supply workers. Full text...

  • Nigeria Stock Exchange equities weekly wrap
    21 july 2001 17:27:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) recorded increases in both volume and value of equities transacted during the week as investors plunged their capital in 154. Full text...

  • Kwacha gains on greenback
    21 july 2001 16:46:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued to gain ground against the greenback to close the financial week at 3676 units against the US dollar. Full text...

  • Algeria's Economic, Social Council holds annual session
    21 july 2001 16:32:00
    Algiers- Algeria (PANA) -- Algeria's National Economic and Social Council (CNES) begins a three-day meeting to discuss the situation of the agricultural sector according to government reform programmes. Full text...

  • What has Africa got from the G-8 Summit?
    21 july 2001 16:10:00
    Nairobi- Kenya (PANA) -- At the end of the day, some African leaders who this week attended the summit of the Group of Eight (G-8) most industrialised countries, must be asking themselves whether they should have attended the meeting at all. Full text...

  • IMF team on project assessment tour in Benin
    21 july 2001 16:00:00
    Cotonou- Benin (PANA) -- An IMF delegation is currently on a two-week mission in Benin to review programmes of the Poverty Reduction from Growth Facility (PRGF) and discuss the economic situation in the country. Full text...

  • PTA bank gives Zimbabwe loan
    21 july 2001 15:43:00
    Harare- Zimbabwe (PANA) -- PTA Bank, the financial arm of the Preferential Trade Area economic group, Saturday announced it had agreed to give Zimbabwe a loan of 50 million US dollars to finance economic infrastructure development in several sectors. Full text...

  • Kenyan currency circulating in Botswana
    21 july 2001 11:24:00
    Gaborone- Botswana (PANA) -- The Bank of Botswana has issued a fresh warning to the public following reports that Kenyan currency coins are circulating the country to the detriment to local businesses. Full text...

  • Jammeh launches 100 dalasi legal tender
    20 july 2001 22:48:00
    Banjul- Gambia (PANA) -- Gambian President Yahya Jammeh on Friday launched a new 100-Dalasi banknote, the highest denomination since the country created its national currency in July 1971. Full text...

  • Foreign currency rates soar in Zimbabwe
    20 july 2001 20:27:00
    Harare- Zimbabwe (PANA) -- Foreign currency rates on Zimbabwe's black market, the country's chief source of hard currency, soared Friday amid reports that the government was "formally and informally" on the market, looking for foreign currency for food imports. Full text...

  • 1000 angry textile workers protest over wage payment
    20 july 2001 20:09:00
    Port Louis- Mauritius (PANA) -- At least 1,000 textile workers from the Apparel Exports Ltd demonstrated Friday on the streets of Port Louis claiming their salaries following the closure of their factory a day earlier. Full text...

  • Morocco begins construction of new cement factory
    20 july 2001 19:52:00
    Rabat- Morocco (PANA) -- King Mohammed VI of Morocco has launched construction work on a new cement factory that would produce one million tonnes annually upon competition in 18 months, public television TVM reported. Full text...

  • WFP distributes cereal to Niger famine victims
    20 july 2001 16:08:00
    Niamey- Niger (PANA) -- The World Food Programme (WFP) is distributing some 7,120 tons of cereal to people threatened by famine in Niger, the UN agency has announced. Full text...

  • COMTEL Project Under Intense Scrutiny
    20 july 2001 13:23:00
    Lusaka- Zambia (PANA) -- Top officials at the Common Market for Eastern and Southern Africa (COMESA) secretariat in Lusaka Friday entered the fifth day of discussions with executives of a Zimbabwean company over the creation of a regional communication link. Full text...

  • Safika takes big share in NAIL
    20 july 2001 13:04:00
    Cape Town- South Africa (PANA) -- Safika Holdings has emerged one of the largest shareholders in Phaphama Holdings, the company that controls New Africa Investment Limited (NAIL). Full text...

  • African Bank appoints new executive
    20 july 2001 12:39:00
    Cape Town- South Africa (PANA) -- African Bank in South Africa has announced the appointment of Khomotso Phihlela as Executive in charge of Joint Ventures. Full text...

  • Government revokes hike of power tariffs
    19 july 2001 20:02:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania's main electric power company has been ordered to cancel its recently hiked rates after members of parliament voiced concern on behalf of the hard- pressed consumers. Full text...

  • Bourse records a dip in trade
    19 july 2001 19:31:00
    Nairobi- Kenya (PANA) -- The Nairobi Stock Exchange (NSE) recorded a drop in the number of shares traded Thursday, selling some 156,000 shares for 1. Full text...

  • ADB grants seven million-dollar loan to Guinea Bissau
    19 july 2001 18:02:00
    Dakar- Senegal (PANA) -- The African Development Fund (ADF), the soft-loan window of the African Development Bank, has approved a loan of 5. Full text...

  • Mauritius launches the micro-credit scheme
    19 july 2001 18:01:00
    Port Louis- Mauritius (PANA) -- The government of Mauritius has launched a micro-credit scheme within the framework of efforts at containing poverty in the country. Full text...

  • Sudan breaks monopoly of telecommunication service
    19 july 2001 17:31:00
    Khartoum- Sudan (PANA) -- Sudan has opened its telecommunications sector to other private investors, breaking the monopoly of the Sudanese Telecommunications company (Sudatel). Full text...

  • Kenyan group sends SOS to G-8 meeting on debt
    19 july 2001 17:23:00
    Nairobi- Kenya (PANA) -- Kenya's Debt Relief Network has called on the G-8 meeting opening in Genoa, Italy, Friday to consider the cancellation of the country's external debt of 372 billion shillings (about 4. Full text...

  • Zimbabwe lands barter deal with Libya on Fuel
    19 july 2001 16:58:00
    Harare- Zimbabwe (PANA) -- Zimbabwe, reeling from a two-year fuel shortage, has clinched a barter oil deal worth 360 million US dollars with Libya, government officials said Thursday. Full text...

  • Mauritian sugar workers spoiling for national strike
    19 july 2001 16:01:00
    Port Louis- Mauritius (PANA) -- The Mauritian Sugar Industry Labourers Union and the Union of Artisans are mobilising the Industry's estimated 20,000 workers for a major rally Sunday to decided on a planned strike. Full text...

  • WAEMU countries discuss common agricultural policy
    19 july 2001 14:58:00
    Bamako- Mali (PANA) -- A workshop to define major orientations for a common agricultural policy within the West African Economic and Monetary Union (UEMOA) is underway in Bamako, grouping experts and MPs from member countries. Full text...

  • Popularising poverty reduction strategy in Burkina Faso
    19 july 2001 14:12:00
    Ouagadougou- Burkina Faso (PANA) -- Scores of participants Wednesday attended a workshop at Dedougou, 250-km west of Ouagadougou, as part of the Burkinabe government's effort to popularise its poverty reduction programme. Full text...

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