Economy -
  • ADF props up Guinea's reform programme
    28 september 2001 13:26:00
    Abidjan- Cote d'Ivoire (PANA) -- The African Development Fund (ADF) has approved a loan of 12. Full text...

  • NSE equities daily trading
    28 september 2001 12:23:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigerian Stock Exchange for Thursday, 27 September. Full text...

  • Heineken, Oracle bosses to visit Nigeria
    28 september 2001 11:58:00
    Lagos- Nigeria (PANA) -- In what is being seen as a big boost for President Olusegun Obasanjo's campaign for foreign investment, the chief executives of two big players in the world economy are expected to arrive in Nigeria next week, the local press reported Friday. Full text...

  • Angry youths block Shell facility
    28 september 2001 11:46:00
    Lagos- Nigeria (PANA) -- The Nigerian subsidiary of oil giant, Shell, said Thursday that angry youths from nearby communities invaded and shut down one of its facilities at Olomoro, in the oil-rich Delta State. Full text...

  • Ethiopia gets ADF grant for study on development plan
    28 september 2001 11:39:00
    Abidjan- Cote d'Ivoire (PANA) -- The African Development Fund (ADF) has approved a Technical Assistance Fund (TAF) grant of 3. Full text...

  • Police prop Ethiopian firms following loan scam
    28 september 2001 10:40:00
    Addis Ababa- Ethiopia (PANA) -- Several businesses are under investigation in connection with a scam in which a 117 million- dollar loan was illegally obtained from the Commercial Bank of Ethiopia (CBE), police sources in Addis Ababa said Friday. Full text...

  • South African rand continues plunge
    28 september 2001 10:02:00
    Cape Town- South Africa (PANA) -- The South African rand has come under renewed attack, dropping below nine to the dollar for the first time, amid market jitters over how the US would respond to this month's terror attacks. Full text...

  • South African rand plunges to new record lows
    28 september 2001 09:32:00
    Cape Town- South Africa (PANA) -- The South African rand has come under renewed attack, dropping below nine to the dollar for the first time, amid market jitters over how the US would respond to this month's terror attacks. Full text...

  • Construction of gas pipeline to begin in 2002
    27 september 2001 22:34:00
    Pande- Mozambique (PANA) -- The construction of a 500 kilometre gas pipeline from Pande, in the southern Mozambican province of Inhambane to Secunda in South Africa is to start early in 2002. Full text...

  • Kenya Ready to Host ACP-EU Meeting
    27 september 2001 21:32:00
    Nairobi- Kenya (PANA) -- Preparations have gone into high gear in readiness for a ministerial meeting of the African, Caribbean and Pacific (ACP) states and their European Union (EU) partners which opens Monday in Nairobi. Full text...

  • State Bank announces 871 million rupees profit
    27 september 2001 21:23:00
    Port Louis- Mauritius (PANA) -- The State Bank of Mauritius announced Thursday a profit of 871 million rupees for the year ended 30 June (29. Full text...

  • East African entrepreneurs hold regional exhibition
    27 september 2001 19:35:00
    Nairobi- Kenya (PANA) -- More than 200 small scale entrepreneurs from of Kenya, Uganda and Tanzania are taking part in a weeklong trade exhibition which opened in Nairobi Thursday. Full text...

  • Domestic debt irks Mozambique despite external debt break
    27 september 2001 15:23:00
    Maputo- Mozambique (PANA) -- Notwithstanding significant relief from external debt under the initiative for heavily indebted poor countries (HIPC), the Mozambican government is under severe stress from rising levels of domestic debt, Finance minister Luisa Diogo conceded Wednesday. Full text...

  • Mozambican minister acknowledges HIPC benefits
    27 september 2001 14:56:00
    Maputo- Mozambique (PANA) -- In the wake Tuesday's World Bank and IMF announcement that Mozambique had qualified for the Completion Point of the enhanced debt relief initiative for Heavily Indebted Poor Countries (HIPC), Finance minister Luisa Diogo has acknowledged fallouts from the scheme. Full text...

  • Govt. rules out fuel price hike in Cape Verde
    27 september 2001 14:30:00
    Praia- Cape Verde (PANA) -- Cape Verde government has promised not to raise fuel prices in the country, at least for now, an official of the Finance and Planning Ministry said in Praia Wednesday. Full text...

  • MPs oppose privatisation of key parastatals
    27 september 2001 13:12:00
    Nairobi- Kenya (PANA) -- Kenyan members of parliament Thursday opposed the intended privatisation of the Kenya Ports Authority and the communications giant, Telkom, saying that they were strategic investments by the government. Full text...

  • Zambian roads set for annual work programme
    27 september 2001 10:24:00
    Lusaka- Zambia (PANA) -- The Zambian government is to spend more than 188 million US dollars to reconstruct and repair roads in various parts of the country next year. Full text...

  • Kenya prepares to host ACP-EU meeting
    27 september 2001 08:19:00
    Nairobi- Kenya (PANA) -- Preparations have gone into high gear in readiness for a ministerial meeting of the African, Caribbean and Pacific (ACP) states and their European Union (EU) partners which opens in Nairobi Monday. Full text...

  • Benin earns 23 billion CFAF from tourism
    26 september 2001 22:14:00
    Cotonou- Benin (PANA) -- Benin welcomed 163,000 tourists and made a record turnover of about 23 billion CFA francs (about 32 million dollars) in 2000, it was officially announced Wednesday. Full text...

  • Accra bourse index moves up
    26 september 2001 21:12:00
    Accra- Ghana (PANA) -- After marking time on Monday, the Ghana Stock Exchange All-Share index made an impressive 8. Full text...

  • Bank of Namibia cuts bank rate by 50 cents
    26 september 2001 21:06:00
    Windhoek- Namibia (PANA) -- The Bank of Namibia has cut its interest rates by 50 cents from 9. Full text...

  • Algeria to sign 15 foreign investment contracts
    26 september 2001 19:29:00
    Algiers- Algeria (PANA) -- Algeria's minister in charge of state assets, Noureddine Boukrouh, said in Algiers Wednesday that the government expects to sign 15 foreign investment contracts worth 2. Full text...

  • Mozambique to get 600 million-dollar HIPC relief
    26 september 2001 18:44:00
    Paris- France (PANA) -- Mozambique is to get a debt relief of 600 million US dollars, under the IMF/World Bank Highly Indebted Poor Countries (HIPC), initiative. Full text...

  • NSE equities daily trading
    26 september 2001 18:28:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Wednesday, 26 September 2001. Full text...

  • Kabila receives UN team on the plundering of Congo's wealth
    26 september 2001 17:49:00
    Kinshasa- DR Congo (PANA) -- DR Congo President Joseph Kabila Tuesday received a UN delegation investigating the plundering and illegal exploitation of the country's wealth. Full text...

  • Kenya provides war insurance guarantee for flag carrier
    26 september 2001 17:42:00
    Nairobi- Kenya (PANA) -- The Kenyan government has agreed to provide a whooping 750 million US dollars additional insurance guarantee for Kenya Airways in the wake of the US terrorist attacks, which have raised insurance premiums for commercial air carriers world-wide. Full text...

  • Tanzania commissions Canadian firm for oil exploration
    26 september 2001 17:09:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania has commissioned a Canadian Company to commence oil drilling in three deep-sea wells in the Indian Ocean islands of Pemba and Zanzibar, a senior government official said Wednesday. Full text...

  • 700 million dollars for SudanAir insurance
    26 september 2001 16:40:00
    Khartoum- Sudan (PANA) -- Sudan has set aside 700 million US dollars for the insurance of its national carrier Sudan Airways, according to Finance Minister Abdulrahim Hamdi. Full text...

  • Official says no Mauritian firm associated with bin Laden
    26 september 2001 16:10:00
    Port Louis- Mauritius (PANA) -- No company operating in Mauritius is associated with Osama bin Laden, the Saudi millionaire accused of masterminding the 11 September terrorist attacks in US, the Mauritian Deputy Premier, Paul Berenger has clarified. Full text...

  • Zambian traders want Zimbabwe suspended from COMESA
    26 september 2001 16:07:00
    Lusaka- Zambia (PANA) -- The Zambia Association of Manufacturers (ZAMA) has called on the Zambian government to demand the suspension of Zimbabwe from the Common Market for Eastern and Southern Africa, or COMESA, until the economic situation in that country is stable. Full text...

  • Tanzania plans review of labour laws, policies
    26 september 2001 15:49:00
    Dar es Salaam- Tanzania (PANA) -- The Tanzanian government Wednesday disclosed that it planned to review its existing labour laws and policies to match with the country's prevailing socio- economic environment. Full text...

  • Chambishi resumes normal production
    26 september 2001 13:52:00
    Lusaka- Zambia (PANA) -- Chambishi Metals Plc, a Zambian cobalt ore processing company, has resumed normal production at its plant in the Copperbelt region after extensive repairs to its furnace were completed this week. Full text...

  • Tunisia, Texas sign maritime agreement
    26 september 2001 11:53:00
    Tunis- Tunisia (PANA) -- Officials and businessmen from Houston, Texas and Zarzis port on Tunisia's south-east Mediterranean coast have signed an agreement to establish maritime trade links. Full text...

  • Handicraft sector boosts Morocco's GDP
    26 september 2001 11:06:00
    Tunis- Tunisia (PANA) -- The handicraft sector accounts for 19 percent of Morocco's GDP and employs around 2 million people, according to press accounts citing a government report. Full text...

  • DR Congo replenishes fuel reserves
    26 september 2001 10:29:00
    Kinshasa- DR Congo (PANA) -- Deputy minister in charge of oil Kalema Losona has affirmed that DR Congo was gradually rebuilding its fuel reserves. Full text...

  • Stock Exchange seeks explanation from businesses
    26 september 2001 10:17:00
    Port Louis- Mauritius (PANA) -- The Mauritius Stock Exchange Commission late Tuesday demanded explanations from three major local companies following allegations of illegal payments between Air Mauritius and Rogers and Company. Full text...

  • DR Congo raises upward 26 000 million francs in revenue
    26 september 2001 10:05:00
    Kinshasa- DR Congo (PANA) -- DR Congo has in the first seven months of the current financial year raised 26. Full text...

  • BCEAO governor says no monetary slavery in CFA franc zone
    25 september 2001 21:55:00
    Paris- France (PANA) -- France is not holding the CFA franc zone economies in "monetary slavery" as it has often been perceived to be the case, the West African Central Bank, or BCEAO, governor Konan Banny said here Tuesday. Full text...

  • State monopoly underpays Zanzibar clove growers
    25 september 2001 20:27:00
    Dar es Salaam- Tanzania (PANA) -- A global slump in the out-turn of cloves has sent prices of the aromatic spice on international markets soaring, but growers of the crop in Zanzibar are underpaid. Full text...

  • Euro circulation not to affect CFA franc
    25 september 2001 19:31:00
    Paris- France (PANA) -- French finance minister Laurent Fabius has assured francophone African countries using the CFA franc that the monetary unit would not be affected by circulation of the euro as from January 2002. Full text...

  • Cameroon switches to seven-digit phone numbers
    25 september 2001 16:52:00
    Yaounde- Cameroon (PANA) -- Phone numbers in Cameroon will change from six to seven digits as from midnight 26 October, with each of the country's three telephone operators adopting a prefix, Posts and Telecommunications minister Maxim N'koue N'kongo announced on Monday. Full text...

  • Zambia says developed states' export subsidies be phased out
    25 september 2001 15:54:00
    Lusaka- Zambia (PANA) -- The Zambian civil society preparing for the fourth World Trade Organisation (WTO) ministerial meeting planned for early November in Doha, Qatar is calling for the phasing out of export subsidies by developed countries on all products of export interest to developing countries. Full text...

  • IMF, World Bank mission commends Burkina Faso
    25 september 2001 14:57:00
    Ouagadougou- Burkina Faso (PANA) -- A joint IMF and World Bank evaluation mission, which arrived in Ouagadougou last weekend, has commended efforts by the Burkinabe government to meet benchmarks in the country's financial and economic reform programme. Full text...

  • Kwacha depreciates by 2.14 percent
    25 september 2001 14:04:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia, the country's central bank, Tuesday auctioned 4. Full text...

  • Mauritius moves to foster social integration
    25 september 2001 11:03:00
    Port Louis- Mauritius (PANA) -- Mauritius is setting up a National Economic and Social Council to promote social integration and economic development, Economic Development and Corporate Affairs Minister, Sushil Khushiram announced Tuesday. Full text...

  • Mali's budget up 8.9 percent
    25 september 2001 10:29:00
    Bamako- Mali (PANA) -- Mali has announced a deficit 2002 budget of 565. Full text...

  • Algerian, South African officials meet
    25 september 2001 10:08:00
    Algiers- Algeria (PANA) -- Algerian and South African experts are currently meeting in Algiers to prepare for a joint Commission session starting 16 October in Johannesburg, to be chaired by Presidents Thabo Mbeki and Abdelaziz Bouteflika. Full text...

  • Govt. admits failure of IMF reforms
    25 september 2001 09:08:00
    Brazzaville- Congo (PANA) -- The economic reforms recommended for Congo Brazzaville by the International Monetary Fund (IMF) has not produced the desired results, according to government officials. Full text...

  • President Wade to discuss with Swiss investors
    24 september 2001 23:39:00
    Geneva- Switzerland (PANA) -- President Abdoulaye Wade of Senegal is expected in Geneva Tuesday to begin a four-day visit, which officially starts in Bern on Thursday. Full text...

  • Accra bourse index marks time
    24 september 2001 19:44:00
    Accra- Ghana (PANA) -- The All-Share index at the Ghana Stock Exchange was unchanged on Monday as the market relapsed under heavy bearish sentiments. Full text...

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