Economy -
  • Experts Say MRR Increase Will Affect Capital Market
    09 july 2001 17:13:00
    Lagos- Nigeria (PANA) -- The recent increase in the Minimum Rediscount Rate (MRR), the nominal anchor for banks' interest rates, by the Central Bank of Nigeria (CBN) will affect the capital market as investors are likely to divert their money to the money market, financial experts said. Full text...

  • Search for South Africa's best entrepreneur takes-off
    09 july 2001 15:58:00
    Cape Town- South Africa (PANA) -- The search for South Africa's Best Entrepreneur for 2001 is on. Full text...

  • Kenya starts importing crude from Sudan
    09 july 2001 14:10:00
    Nairobi- Kenya (PANA) -- Kenya's oil marketing companies were Monday waiting for government instructions on modalities of importing crude oil from neighbouring Sudan. Full text...

  • Rwanda to host international trade fair in August
    08 july 2001 22:38:00
    Kigali- Rwanda (PANA) -- Rwanda will host an international trade fair in August-September, the bi-weekly New Times reported Sunday. Full text...

  • Sudan, Egypt sign 20 co-operation agreements
    08 july 2001 22:10:00
    Khartoum- Sudan (PANA) -- The Sudan-Egypt Ministerial Committee ended a two-day meeting in Khartoum Sunday with both countries signing 20 co-operation agreements on transport, agriculture and industry among other fields. Full text...

  • World Bank willing to support Cape Verde
    08 july 2001 15:07:00
    Praia- Cape Verde (PANA) -- World Bank vice president Calisto Madavo has reaffirmed the bank's commitment to supporting the development process in Cape Verde. Full text...

  • Zimbabwean farmers seek land in Mozambique
    08 july 2001 14:38:00
    Maputo- Mozambique (PANA) -- Mozambique's Agriculture minister Helder Muteia has confirmed that a large group of white Zimbabwean farmers has requested not less than 400,000 hectares of land in the central Mozambican province of Manica. Full text...

  • Ethiopia to import butane from Sudan
    08 july 2001 12:44:00
    Addis Ababa- Ethiopia (PANA) -- Ethiopian energy authorities have indicated that the country would, beginning next year, import butane gas from Sudan, when a road linking the two countries would have been completed. Full text...

  • IMF disburses 13.3 billion FCFA for WAEMU states
    08 july 2001 12:27:00
    Dakar- Senegal (PANA) -- The International Monetary Fund (IMF) has disbursed a total of 14. Full text...

  • IMF sizes up Togo's economic programme
    08 july 2001 12:12:00
    Lome- Togo (PAN) -- An IMF delegation has in the past two weeks been assessing an interim economic reform programme underway in Togo since the start of this year. Full text...

  • Zambia to make six million dollars from OAU summit
    08 july 2001 11:38:00
    Lusaka- Zambia (PANA) -- A Zambian tourism official boasted Sunday that the country would net some 6 million US dollars from hosting the OAU Heads of State and government summit which opens on Monday. Full text...

  • Chiluba Says Economic Cooperation Vital For AU Success
    07 july 2001 18:46:00
    Lusaka- Zambia (PANA) -- Zambian President Frederick Chiluba said Saturday greater African economic cooperation is vital for the success of the proposed African Union. Full text...

  • Chiluba says privatisation of enterprises will continue
    07 july 2001 18:37:00
    Lusaka- Zambia (PANA) -- Zambian President Frederick Chiluba Saturday insisted that the government would continue the privatisation of parastatal companies though its benefits in Zambia have not been immediately flowing. Full text...

  • Mozambique, China sign joint commission
    06 july 2001 23:12:00
    Maputo- Mozambique (PANA) -- The governments of Mozambique and China Friday signed an agreement to establish a joint Economic and Commercial Commission, a foreign ministry statement said Friday in Maputo. Full text...

  • McDonalds opens outlet in Mauritius
    06 july 2001 23:00:00
    Port Louis- Mauritius (PANA) -- US-based fast food chain McDonalds has opened its first outlet in Port Louis relying on local suppliers for its products while 40 staff trained in Reunion and Australia would run the business. Full text...

  • Mauritius gets 65 million-rupee interest-free Chinese loan
    06 july 2001 18:00:00
    Port Louis- Mauritius (PANA) -- The People's Republic of China has offered an interest-free loan of 65 million rupees to Mauritius. Full text...

  • UN launches anti-poverty programmes for Somalia
    06 july 2001 17:19:00
    Nairobi- Kenya (PANA) -- The UN Development Programme (UNDP) launched three programmes Friday to help Somalis rebuild their war-devastated economy. Full text...

  • Oil workers end strike
    06 july 2001 16:36:00
    Lagos- Nigeria (PANA) -- Workers of Nigeria's Shell Petroleum Development Company (SPDC) have called off their two-week strike, the local media reported Friday. Full text...

  • Kenya to revamp its aviation industry
    06 july 2001 15:57:00
    Nairobi- Kenya (PANA) -- Kenyan Transport and Communications Ministry Friday announced plans to revamp the country's aviation industry to promote inter-African transportation. Full text...

  • Botswana to streamline asset procurement and disposal
    06 july 2001 15:26:00
    Gaborone- Botswana (PANA) -- Botswana intends to streamline its laws on assets public procurement and disposal to bring them in tandem with the requirements of the Southern African Development Community (SADC). Full text...

  • Causes of business failures in South Africa
    06 july 2001 14:19:00
    Cape Town- South Africa (PANA) -- Up to 80 percent of small, medium and micro enterprises (SMMEs) in South Africa fail every year as a result of AIDS, crime and a lack of management know-how, a new research has shown. Full text...

  • Bleak future for Botswana meat commission
    06 july 2001 14:18:00
    Gaborone- Botswana (PANA) -- The future of the Botswana Meat Commission, or BMC, looks bleak after its latest financial report revealed that the beef monopoly recorded its worst performance in 1999/2000. Full text...

  • Trading upbeat at Nigeria Stock Exchange
    06 july 2001 13:41:00
    Lagos- Nigeria (PANA) -- Trading at the Nigeria Stock Exchange (NSE) was upbeat Thursday with a total of 42. Full text...

  • Zambian firm seeks protection against Zimbabwean sugar
    06 july 2001 09:49:00
    Lusaka- Zambia (PANA) -- Zambia's sole sugar manufacturing company Friday sought government protection against imports from neighbouring Zimbabwe, which it said was displacing its products from the local market. Full text...

  • IMF says Burkina Faso is over spending
    06 july 2001 09:31:00
    Ouagadougou- Burkina Faso (PANA) -- The International Monetary Fund (IMF) has cautioned the government of Burkina Faso against non-priority spending, especially in the payment of public sector salaries, official sources in Ouagadougou said. Full text...

  • ECOWAS calls for the dismantling of roadblocks
    05 july 2001 23:37:00
    Lusaka- Zambia (PANA) -- The Economic Community of West African states will intensify efforts regarding the lifting of all roadblocks that seriously impede the free movement of persons and goods in the subregion, ECOWAS Executive Secretary Lansana Kouyate said in Lusaka Thursday. Full text...

  • Kenya to import Sudanese oil
    05 july 2001 22:59:00
    Nairobi- Kenya (PANA) -- Kenya will shortly start importing oil from Sudan, Energy Minister Raila Odinga said Wednesday during discussions in Nairobi with Sudanese Ambassador to Kenya, Farouk Ali. Full text...

  • Namibia warns foreign investors over empty promises
    05 july 2001 21:11:00
    Windhoek- Namibia (PANA) -- Namibia has warned a Swiss business delegation that it was getting sick and tired of "empty promises" from foreign investors and businesses. Full text...

  • World Bank Lends 133 Million Dollars to Uganda, Tanzania
    05 july 2001 20:24:00
    New York- US (PANA) -- The World Bank has approved credits amounting to 132. Full text...

  • Fired Air Namibia officials blame chief executive
    05 july 2001 19:38:00
    Windhoek- Namibia (PANA) -- Dismissed management officials of Air Namibia have claimed that the airline's expatriate managing director was responsible for its messy financial situation. Full text...

  • Guinea increases fuel prices
    05 july 2001 19:37:00
    Conakry- Guinea (PANA) -- Higher fuel prices have taken effect in Guinea since Wednesday, the PANA journalist in Conakry reported Thursday. Full text...

  • Premier decries loss of skilled South African engineers
    05 july 2001 17:40:00
    Cape Town- South Africa (PANA) -- West Cape Premier Gerald Morkel has lamented what he said was the flight of skills South Africa needed to keep its lead on the continent. Full text...

  • Tanzanian envoy decries bureaucratic red tape
    05 july 2001 17:31:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania's acting envoy to the UK has complained that the country risked losing lucrative business deals with traders from the developed nation due to red tape and bureaucratic bangles. Full text...

  • Donors support DR Congo with 280 million dollars
    05 july 2001 17:23:00
    New York- US (PANA) -- Encouraged by improved prospects for peace in the DR Congo, the donor community has committed 280 million dollars to support development projects in the country. Full text...

  • ECA outlines perspectives for viable African Union
    05 july 2001 15:02:00
    Lusaka- Zambia (PANA) -- The Executive Secretary of the UN Economic Commission for Africa (ECA), K. Full text...

  • Malian company lands BOAD loan
    05 july 2001 14:50:00
    Bamako- Mali (PANA) -- The West African Development Bank (BOAD) has approved a loan of seven billion francs CFA (1US dollar = 750 FCFA) for partial funding of a project to revamp the subscriber network and commercial management of Mali's power company, EDM-SA. Full text...

  • Tanzania-Sino textile plant cash-strapped
    05 july 2001 12:22:00
    Dar es Salaam- Tanzania (PANA) -- The cash-strapped Tanzania- Sino textile plant, URAFIKI, has applied for a concessional loan of 100 million yuan from the Chinese Export-Import Bank (Exim) to finance its technical renovation. Full text...

  • Kenya's agricultural sector in major decline
    05 july 2001 12:13:00
    Nairobi- Kenya (PANA) -- Kenya's agricultural sector recorded an overall decline in growth of 2. Full text...

  • Botswana moves to take advantage of SACU, AGOA
    04 july 2001 22:54:00
    Gaborone- Botswana (PANA) -- Botswana parliament Wednesday amended the customs and duty act in harmony with the South African Customs Union (SACU), and as measures to take advantage of avenues offered by the African Growth and Opportunity Act (AGOA) of the US. Full text...

  • China to invest 300 million rupees in spinning mill
    04 july 2001 21:28:00
    Port-Louis- Mauritius (PANA) -- A Chinese firm, Tianli Enterprise, will set up a spinning mill in Mauritius, Prem Nababsingh, chairman of the Mauritian Board of Investment announced Wednesday. Full text...

  • Cape Verde urges understanding on debt owed the OAU
    04 july 2001 17:16:00
    Praia- Cape Verde (PANA) -- With a dozen debtor-member countries already sanctioned, Cape Verde has pledged to settle its arrears of contribution to the OAU by the end of the year. Full text...

  • ADB officials end mission in Cape Verde
    04 july 2001 17:13:00
    Praia- Cape Verde (PANA) -- A delegation from the African Development Bank (ADB) has ended a weeklong supervision of current projects in such areas as agriculture and fisheries in Cape Verde, officials said Wednesday in Praia. Full text...

  • NSE Daily Equities Trading
    04 july 2001 16:56:00
    Lagos- Nigeria (PANA) -- Following is the daily Equities trading at the Nigeria Stock Exchange for Wednesday, 4 July 2001. Full text...

  • Central bank moves to rescue unstable Liberian dollar
    04 july 2001 16:15:00
    Monrovia- Liberia (PANA) -- With about two months into the UN sanctions regime, the free fall of the Liberian dollar has drawn the Central Bank into a rescue mission. Full text...

  • MPs asked to repay millions of stolen funds
    04 july 2001 16:01:00
    Blantyre- Malawi (PANA) -- The chairman of the public accounts committee of parliament, Peter Chiwona, has asked the Malawi government to recover millions of dollars his fellow MPs stole from the education ministry through fraudulent deals. Full text...

  • All set for Namibia's economist business forum
    04 july 2001 15:08:00
    Windhoek- Namibia (PANA) -- Namibia's third Economist Business Forum will run from 31 July to 1 August, Namibia Economist editor Daniel Steinmann said Wednesday. Full text...

  • Central bank records 51-billion naira surplus
    04 july 2001 14:00:00
    Lagos- Nigeria (PANA) -- Nigeria's Central Bank recorded a surplus of 51 billion naira from its financial operations in 2000, the local media quoting a report released by the bank reported Wednesday (110 naira =1 USD). Full text...

  • African Union holds brighter economic future for continent
    04 july 2001 13:23:00
    Lusaka- Zambia (PANA) -- The African Union, which African leaders are expected to formally launch next week at their 37th summit in Lusaka, holds out brighter prospects for economic revival and growth, affirms OAU Assistant Secretary-General in charge of economic affairs Ambassador Vijay Makhan. Full text...

  • Fuel prices drop five cents in South Africa
    04 july 2001 11:28:00
    Cape Town- South Africa (PANA) -- South African consumers received a welcome relief on Wednesday when the price of petrol dropped by five cents a litre, and the cost of illuminating paraffin by four cents. Full text...

  • South African transport officials visit the Netherlands
    04 july 2001 10:30:00
    Cape Town- South Africa (PANA) -- South Africa's Transport minister Dullah Omar, all provincial transport local ministers and a top-level delegation from the transport industry are in the Netherlands for a four-day economic exploration. Full text...

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