Economy -
  • 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...

  • Mboweni upbeat about South African economy
    19 july 2001 10:15:00
    Cape Town- South Africa (PANA) -- Compared to the euro and other major world currencies, the South African rand has fared well despite the dramatic lows notched up during the past few weeks, Reserve Bank governor Tito Mboweni said Wednesday night. Full text...

  • Rwanda to benefit from trade boost with US
    19 july 2001 08:27:00
    Kigali- Rwanda (PANA) -- Rwanda and the US have agreed to promote trade and investments between them by increasing the potential benefits of the Africa Growth and Opportunities Act (AGOA) for Rwanda's business community, a statement from the president's office said Thursday. Full text...

  • New Skies Satellites expands sales and marketing force
    19 july 2001 08:03:00
    Cape Town- South Africa (PANA) -- New Skies Satellites, the global satellite communications company, is expanding its global presence with the appointment of Martin Brasg as Sales Manager for Africa for Africa. Full text...

  • Mali records over 100-percent expansion in tourism
    18 july 2001 23:33:00
    Bamako- Mali (PANA) -- The tourism sector in Mali has expanded more than 100 percent between 1990 and 2001, thanks to a master plan initiated by the Department of Tourism in Bamako. Full text...

  • Niger's Uranium Output Drops After A Technical Mishap
    18 july 2001 22:32:00
    Niamey- Niger (PANA) -- Uranium production in Niger has not stopped but it continues at a reduced pace following a mishap in April, Cominak mining company confirmed Wednesday from its base at Arlit, 1,500 km north of the capital, Niamey. Full text...

  • Over 200,000 litres of petroleum products seized
    18 july 2001 21:19:00
    Yaounde- Cameroon (PANA) -- Cameroonian government agents recently seized more than 200,000 litres of petrol worth 96 million F CFA during raids on 15 sites where illegal fuel mixtures were being sold in western province. Full text...

  • Cameroon inaugurates 65 billion-franc highway
    18 july 2001 20:19:00
    Yaounde- Cameroon (PANA) -- Cameroonian Prime Minister Peter Mafany Musonge has inaugurated a European Union-funded highway stretching 247km to link Bertoua and Garoua Boulai in East Cameroon province. Full text...

  • NSE daily trading summary
    18 july 2001 19:38:00
    Lagos- Nigeria (PANA) -- Daily equities that traded at the Nigerian Stock Exchange for Wednesday are as follows when a total of 27. Full text...

  • Sale of State shares in Telkom Kenya hits snag
    18 july 2001 18:07:00
    Nairobi- Kenya (PANA) -- The Kenya government's bid to divest its 49 percent shares in Telkom Kenya by June this year, appears to have stalled after two potential bidders from Egypt and South Africa failed to pick up the offer. Full text...

  • Interest on loans up in Kenya
    18 july 2001 17:54:00
    Nairobi- Kenya (PANA) -- Excess liquidity in the Kenyan money market has pulled down inter-bank interest rates but loans still attract higher premiums, according to the Central Bank of Kenya's latest update for the week ending 13 July. Full text...

  • BEAC Governor rules out CFA devaluation
    18 july 2001 17:44:00
    Yaounde- Cameroon (PANA) -- The governor of the Bank of Central African States (BEAC), Mr. Full text...

  • Nigerian Stock Exchange half-year review
    18 july 2001 16:38:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) was upbeat in the first half of this year, when it recorded a turnover of 2. Full text...

  • Mkapa commissions third gold mine
    18 july 2001 16:14:00
    Dar es Salaam- Tanzania (PANA) -- Tanzanian President Benjamin Mkapa Wednesday commissioned the country's third largest gold mine in the fast growing commercial district of Kahama in the north-western part of the country. Full text...

  • Inflation rises in Zimbabwe
    18 july 2001 15:38:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's year-on-year inflation rose by 8. Full text...

  • Interest on loans up in Kenya
    18 july 2001 11:02:00
    Nairobi- Kenya (PANA) -- Excess liquidity in the Kenyan money market has pulled down inter-bank interest rates but loans still attract higher premiums, according to the Central Bank of Kenya latest update for the week ending 13 July. Full text...

  • Sale of State shares in Telkom Kenya hits snag
    18 july 2001 10:59:00
    Nairobi- Kenya (PANA) -- The Kenya government's bid to divest its shares in Telkom Kenya (49 percent) by June this year appears to have hit a snag after two potential bidders from Egypt and South Africa failed to pick up the offer. Full text...

  • Nigeria's import bill goes up
    18 july 2001 10:44:00
    Lagos- Nigeria (PANA) -- Nigeria's import bill rose sharply between January and May this year to 449 million dollars, from 120. Full text...

  • DR Congo to step up rural electrification
    18 july 2001 10:40:00
    Kinshasa- DR Congo (PANA) -- DR Congo plans to use floating hydro-generators to provide electricity to some, the technology's inventor Jean Rutten affirmed in Kinshasa. Full text...

  • Zambian unit regains strength
    18 july 2001 10:06:00
    Lusaka- Zambia (PANA) -- After weeks of slumber, the Zambian kwacha at the start of business Wednesday was five points stronger against the Greenback at 3680 units, regaining the marginal losses of four points it suffered last week. Full text...

  • South Africa reports slight drop in inflation rate
    18 july 2001 09:57:00
    Cape Town- South Africa (PANA) -- South Africa's official inflation rate decreased to 6. Full text...

  • Niger gets US Internet support
    18 july 2001 09:37:00
    Niamey- Niger (PANA) -- The United States and Niger have signed a 350,000-dollar financial agreement for the purchase of Internet equipment, official sources said in Niamey. Full text...

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