Economy -
  • Nigeria Redeems 500 Million Naira Of External Debt
    02 july 2001 17:00:00
    Lagos- Nigeria (PANA) -- Nigeria redeemed 500 million naira from its 28-billion-US-dollar external debt through the debt conversion auction held at the Central Bank at the weekend, the local press reported Monday. Full text...

  • Cashew nut price on upswing in Guinea-Bissau
    02 july 2001 16:07:00
    Bissau- Guinea-Bissau (PANA) -- The price of cashew nut in Guinea-Bissau has shot up from 150 to 250 francs CFA per kg, official sources said. Full text...

  • Indian Ocean Commission gets new Secretary General
    30 june 2001 19:06:00
    Port-Louis- Mauritius (PANA) -- A new Secretary General is about to take charge of the Indian Ocean Commission (IOC), which groups the Comoros, Madagascar, Mauritius, Reunion and Seychelles. Full text...

  • South African oil firm investing more in Kenya
    30 june 2001 17:19:00
    Nairobi- Kenya (PANA) -- A South African oil firm, through its subsidiary Engen Kenya Limited, is to invest some 3. Full text...

  • South African oil firm stakes on Kenya
    30 june 2001 17:17:00
    Nairobi- Kenya (PANA) -- A South African oil firm, through its subsidiary, Engen Kenya Limited, is to invest approximately 3. Full text...

  • Mauritius raises bus fares by 16 percent from 1 July
    30 june 2001 16:38:00
    Port Louis- Mauritius (PANA) -- Mauritian Transport, Land and Shipping Minister, Anil Bachoo has announced a 16-percent rise in bus fares in the country with effect from 1 July. Full text...

  • Kenya to Restructure Its Power Sector
    30 june 2001 15:14:00
    Nairobi- Kenya (PANA) -- The Kenyan government has initiated policies to restructure the power sector, in a move directed at opening it up to private investment and competition. Full text...

  • Kwacha stabilises as hard currency hits the market
    30 june 2001 15:06:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has gained fragile stability against the US dollar with the Central Bank dealing rate closing at 3675 units Saturday while in some bureaux de change adjustments were being done while customers transacted. Full text...

  • Belgian premier visits Kinshasa Saturday
    30 june 2001 14:55:00
    Kinshasa- DR Congo (PANA) -- Belgian Prime Minister Guy Verhofstadt and DR Congo authorities are Saturday expected to sign co-operation agreements worth 800 million Belgian francs (20 million US dollars). Full text...

  • Business community advised to produce for local market
    29 june 2001 21:07:00
    Windhoek- Namibia (PANA) -- Unless the Namibian business community abandoned its current practice of exporting raw materials and embarked on adding value to its products destined for international markets, the country would never make headway in this globalisation era, Trade and Industry Minister Hidipo Hamutenya warned Friday. Full text...

  • All-Share index inches up
    29 june 2001 20:57:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange (GSE) All-Share Index, made a slim 0. Full text...

  • Forum advocates "real" development for Africa
    29 june 2001 20:23:00
    Cotonou- Benin (PANA) -- Asserting that financial assistance has worked little good for Africa's development, a two-day forum in Cotonou, Benin under the aegis of the 'Millennium for Africa' project and the UN Development Programme (UNDP) has urged for an even more meaningful approach to forging "real" development on the continent. Full text...

  • Zambian civil servants hold fast to strike action
    29 june 2001 19:32:00
    Lusaka- Zambia (PANA) -- A month since going on strike, civil servants in Zambia remain adamant in their push for a 70 per cent salary hike. Full text...

  • Loss-making Air Namibia retrenches senior managers
    29 june 2001 17:45:00
    Windhoek- Namibia (PANA) -- Namibia's loss-making national airline will go through a drastic restructuring process in which 11 senior managers are listed for retrenchment, it was officially announced Friday. Full text...

  • SADC, COMESA to discuss duplication of functions
    29 june 2001 17:26:00
    Blantyre- Malawi (PANA) -- Major southern African regional trade blocs - SADC and COMESA) - will form a joint task force to streamline their activities and collaborate in addressing duplication of interests, SADC secretary general Prega Ramsamy said Friday in Blantyre. Full text...

  • Air Mauritius posts loss of 214 million rupees
    29 june 2001 16:20:00
    Port Louis- Mauritius (PANA) -- Air Mauritius, the national airline of Mauritius, reported Friday a net loss of 214. Full text...

  • Sneak preview of South Africa's new commuter trains
    29 june 2001 15:06:00
    Cape Town- South Africa (PANA) -- South African Rail Commuter Corporation (SARCC) this week gave visitors to the Africa Rail 2001 exhibition a sneak preview of their 50 million dollar new look commuter trains. Full text...

  • Nigerian Senate approves supplementary budget
    29 june 2001 12:58:00
    Lagos- Nigeria (PANA) -- Unlike the lower House of Representatives which is seeking more information before acting, the Nigerian Senate has approved a supplementary budget of 145 billion naira requested by President Olusegun Obasanjo (110 naira= 1USD). Full text...

  • South Africa records lower cross border deals
    29 june 2001 12:23:00
    Cape Town- South Africa (PANA) -- South Africa's cross-border deal activity was 44 percent down during the past six months compared to the same period last year, KPMG Corporate Finance reported on Friday. Full text...

  • Ministers says external aid alone cannot develop a nation
    28 june 2001 22:55:00
    Cotonou- Benin (PANA) -- Benin's Economy and Finance Minister Abdoulaye Bio Tchane said Thursday that external financial assistance alone and in their present form, are not the best tool for national development. Full text...

  • Economy-Mozambique/Japan-Grant
    28 june 2001 22:01:00
    Maputo- Mozambique (PANA) -- Japan Thursday announced a donation of 2. Full text...

  • EU finances water pipeline in northern Mauritius
    28 june 2001 20:29:00
    Port Louis- Mauritius (PANA) -- The European Union has financed the laying of 8. Full text...

  • Botswana, South Africa agree on infrastructure
    28 june 2001 20:28:00
    Gaborone- Botswana (PANA) -- Botswana and South Africa have agreed to share repairs and construction costs of bridges linking them, press reports in Gaborone said Thursday. Full text...

  • NSE Daily Equities Trading
    28 june 2001 19:30:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Thursday, 28 June 2001. Full text...

  • Govt aims at zero tariff on raw material imports
    28 june 2001 17:57:00
    Nairobi- Kenya (PANA) -- Kenya intends to waive duties on all imported raw materials in order to give incentive to local manufacturers, Finance Minister Chris Okemo said here Thursday. Full text...

  • Manufacturers see a better year in new govt budget
    28 june 2001 16:57:00
    Nairobi- Kenya (PANA) -- Upbeat after most of their proposals were included in the government budget for the 2001/2002 financial year, Kenyan manufacturers say they are in a secure position to compete with imported goods. Full text...

  • Brewery doubles turnover and profits
    28 june 2001 16:42:00
    Lusaka- Zambia (PANA) -- Zambia's major clear beer manufacturing company has more than doubled its gross turnover and after tax profits enabling it to declare higher dividends to shareholders. Full text...

  • Kenya, China discuss energy co-operation
    28 june 2001 16:14:00
    Nairobi- Kenya (PANA) -- Kenya and China have started high-level discussions to explore the possibility of co- operation in the field of energy. Full text...

  • Kenya seeks power supply from South Africa, Uganda
    28 june 2001 14:16:00
    Nairobi- Kenya PANA -- Kenya's industries will be relieved of high energy cost after the government concludes negotiations on power importation from South Africa and Uganda, a senior government official said here Thursday. ) Full text...

  • Inadequate interest rates cut angers Communist Party
    28 june 2001 07:43:00
    Cape Town- South Africa (PANA) -- The South African Communist Party (SACP) has criticised major South African banks over the decision to cut their interest rates by just 0. Full text...

  • Finance Minister decries mismanagement of public funds
    27 june 2001 23:35:00
    Bissau- Guinea Bissau (PANA) -- Guinea Bissau's Finance Minister, Rui Duarte Barros, Wednesday condemned what he called mismanagement of public funds in his country, revealing "irregularities" amounting to 36. Full text...

  • Cape Verde economists meet Friday
    27 june 2001 22:33:00
    Praia- Cape Verde (PANA) -- Cape Verde economic experts hold their second meeting this year in Praia on Friday, focusing on the country's economic policy, the organisers announced Wednesday. Full text...

  • Zambian trade in for a timid start
    27 june 2001 22:31:00
    Lusaka- Zambia (PANA) -- The Zambia International Trade Fair in the northern town of Ndola, aimed at marketing the nation's industrial capacity to the outside world, would be opened to the public on Thursday. Full text...

  • Senegal to lose tariff advantages in Europe
    27 june 2001 21:55:00
    Dakar- Senegal (PANA) -- The tariff advantages Senegal enjoys on the European market for its fisheries are bound to be reduced, says a study conducted by a non-governmental organisation, Enda Tiers-Monde, and the Oceanographic Research Centre of Dakar- Thiaroye (CRODT). Full text...

  • Belgium, Canada to convene meeting on DR Congo in Paris
    27 june 2001 20:41:00
    Paris- France (PANA) -- Belgium and Canadian governments will next Tuesday convene an information meeting on the Democratic Republic of Congo (DRC) under the auspices of the World Bank. Full text...

  • Petrol prices to drop in July
    27 june 2001 20:28:00
    Johannesburg- South Africa (PANA) -- The South African government Wednesday announced a five-cent drop in the price of fuel per litre. Full text...

  • Trade fair opens on subdued note
    27 june 2001 20:15:00
    Lusaka- Zambia (PANA) -- The Zambia International Trade Fair, which aims at promoting the nation's industrial capacity to the outside world, will be officially opening its doors to the public on a subdued note on Thursday in the northern city of Ndola. Full text...

  • South Africa calls for gas network
    27 june 2001 12:58:00
    Cape Town- South Africa (PANA) -- South Africa's Department of Minerals and Energy has appealed to southern African countries to map out strategies that would lead to the formation of a pan- African gas network. Full text...

  • SAMWU hosts anti-privatisation forum for Southern Africa
    27 june 2001 09:14:00
    Cape Town- South Africa (PANA) -- Trade union delegates from six southern African countries are gathered in Harare, Zimbabwe, for a three-day solidarity workshop against privatisation. Full text...

  • Mineral production boosts Tanzania's export earnings
    27 june 2001 08:19:00
    Dar es Salaam- Tanzania (PANA) -- Mineral production boosted Tanzania's export earnings for the year ended March 2001, the Bank of Tanzania says in its latest monthly economic report. Full text...

  • UEMOA to evaluate economic performance
    26 june 2001 23:18:00
    Ouagadougou- Burkina Faso (PANA) -- Economic and Monetary Union of the West African States (UEMOA) experts opened a meeting Tuesday in Ouagadougou to evaluate the region's economic performance. Full text...

  • Kenya Airways Receive Second Boeing 767-300 ER
    26 june 2001 20:11:00
    Nairobi- Kenya (PANA) -- Kenya Airways Monday received its second state-of-the-arts 767-300 ER passenger plane at the Moi International Airport in the coastal town of Mombasa, the local press reported Tuesday. Full text...

  • Kenya mobile phone operator launches biggest bond ever
    26 june 2001 20:03:00
    Nairobi- Kenya (PANA) -- Kenya's premier mobile phone operator, Safaricom, Tuesday launched the biggest bond ever in the country's history. Full text...

  • NSE Daily Equities Trading
    26 june 2001 19:50:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Tuesday, 26 June 2001. Full text...

  • French Foreign Minister To Visit Nigeria
    26 june 2001 19:38:00
    Lagos- Nigeria (PANA) -- French Foreign Minister Hubert Vedrine will hold talks with ECOWAS' Executive Secretary Lansana Kouyate in Abuja Thursday, at the start of a two-day visit to Nigeria, ECOWAS said in a statement Tuesday. Full text...

  • African negotiators concert ahead of WTO meeting
    26 june 2001 19:11:00
    Addis Ababa- Ethiopia (PANA) -- Ahead of a ministerial conference of the World Trade Organisation due next November, African trade negotiators have begun brainstorming on what stance to take vis-à-vis a new trade round as well as the failed implementation of existing WTO rules. Full text...

  • Mobile phone operator places bond on Nairobi bourse
    26 june 2001 17:42:00
    Nairobi- Kenya (PANA) -- Kenya's leading mobile phone operator, Safaricom, Tuesday launched the biggest bond ever in the country's history. Full text...

  • German, Nigerian held for money laundering
    26 june 2001 16:54:00
    Blantyre- Malawi (PANA) -- The First Grade Magistrate Court in Lilongwe Tuesday denied bail to a German and a Nigerian who were arrested over the weekend for trying to launder 400,000 US dollars in Traveller's cheques. Full text...

  • African civil aviation managers meet
    26 june 2001 15:53:00
    Praia- Cape Verde (PANA) -- Civil aviation managers from 28 African nations are meeting in Santa Maria in Cape Verde to analyse problems hampering air navigation in the Africa-Indian Ocean region. Full text...

  • Court stops sale of Kenyan politician's hotels
    26 june 2001 14:07:00
    Nairobi- Kenya (PANA) -- A Kenyan court has stopped the sale of a chain of hotels belonging to opposition politician and presidential aspirant, Kenneth Matiba, following a financial saga facing the Alliance Group of Hotels which had been ordered closed by receivers and some 1,000 workers fired. Full text...

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