Economy -
  • Tanzanian industrialists cry out against power tariffs
    30 may 2001 20:24:00
    Dar es Salaam- Tanzania (PANA) -- The Confederation of Tanzania Industries has expressed fears that members may not be competitive in the East African Community due to prohibitive electricity tariffs in the country. Full text...

  • Africa Business Direct launch boosts Africa-focused business
    30 may 2001 19:59:00
    Cape Town- South Africa (PANA) -- "Expanding African Business Globally" is the concept behind the new Africa business facilitation firm and its research and resource focused portal, Africa Business Direct, which was officially launched in South Africa this week. Full text...

  • Russia forgives Ethiopia's debt
    30 may 2001 19:10:00
    Addis Ababa- Ethiopia (PANA) -- The Russian government has written off a debt of 4. Full text...

  • Government reckless spending blamed for falling Naira
    30 may 2001 18:57:00
    Lagos- Nigeria (PANA) -- Nigerian Finance Minister Adamu Ciroma says reckless spending by the three tiers of government is responsible for the falling value of the national currency, the naira, and the high rate of inflation in the country. Full text...

  • Kenya's flowers under threat of EU ban
    30 may 2001 18:57:00
    Nairobi- Kenya (PANA) -- Kenya's horticultural products could be excluded from the European market unless the country meets certain conditionalities by July this year. Full text...

  • Govt. Seeks 498 Billion naira in supplementary budget
    30 may 2001 17:15:00
    Lagos- Nigeria (PANA) -- Nigeria's federal government has sent a Supplementary Appropriation Bill of 2. Full text...

  • Absa Bank's expansion in Africa bears dividends
    30 may 2001 14:10:00
    Cape Town- South Africa (PANA) -- Absa Bank Wednesday reported excellent earnings for the 12-month period to 31 March 2001, its chief executive Nallie Bosman said in Cape Town. Full text...

  • Zambia launches SADC trade protocol
    30 may 2001 13:51:00
    Lusaka- Zambia (PANA) -- Zambia on Wednesday launched the Southern African Development Community (SADC) Trade Protocol after extensive negotiations with other member states. Full text...

  • Mali's cereal production to hit 3.3 million tonnes
    29 may 2001 23:39:00
    Bamako- Mali (PANA) -- Mali's 2001-2002 cereal production may hit 3,386,000 tonnes, an increase of 36 percent compared to the 2000-2001 production of 2,386,000 tonnes. Full text...

  • Abdoulaye Wade ready for his big building sites to start
    29 may 2001 23:31:00
    Dakar- Senegal (PANA) -- Senegalese Head of State Abdoulaye Wade says all is now set for him to roll off an ambitious construction programme envisioned in his seven-year term of office. Full text...

  • Dakar hosts West African fish processing fair
    29 may 2001 23:12:00
    Cotonou- Benin (PANA) -- A Benin delegation will leave Cotonou Wednesday to participate in a two-day West African Fair or small-scale fish processing to be held in Dakar, Senegal starting from 2 June, the National Fisheries Department announced Tuesday. Full text...

  • Lusophone Central Bank Chiefs meet in Praia
    29 may 2001 22:56:00
    Praia- Cape Verde (PANA) -- Chief Executives of Central Banks of the Portuguese-speaking Countries (CPLP) began a meeting Tuesday in the Cape Verdian capital of Praia, on the co-operation among their financial institutions. Full text...

  • Namibia group for Botswana Trade exhibition
    29 may 2001 22:41:00
    Windhoek- Namibia (PANA) -- Namibia's Walvis Bay Corridor Group (WBCG) said Tuesday it would be sending a delegation to the fourth annual Botswana Industrial Trade and Commercial Exhibition, which opens Thursday. Full text...

  • Two banks form joint venture
    29 may 2001 21:20:00
    Cape Town- South Africa (PANA) -- In a ground breaking initiative for the banking industry, Absa Bank and BoE Bank have entered into a business venture called MultiBank Processing where Absa Bank will in future maintain all the cheque processing functions of BoE Bank. Full text...

  • World Bank official takes Nigerians to task on economy
    29 may 2001 21:14:00
    Lagos- Nigeria (PANA) -- Against the backdrop of waning hope among Nigerians, two years into the tenure of the present civilian administration, an envoy of the World Bank has urged the 110-million strong population to do more in turning the country's economy around. Full text...

  • Central Bank assures Mozambicans on devaluation
    29 may 2001 20:45:00
    Maputo- Mozambique (PANA) -- The Governor of the Bank of Mozambique, Adriano Maleiane has dismissed fears over the sharp devaluation of the national currency, the metical since the beginning of the year. Full text...

  • Industrialists explore alternative power sources
    29 may 2001 20:05:00
    Dar es Salaam- Tanzania (PANA) -- In what could shape up to be a major economic issue for the government, Tanzanian industrialists are exploring alternative methods of power generation as a recourse to an erratic and costly power supply from the state-owned monopoly, Tanzania Electric Supply Company. Full text...

  • Tanzanian industrialists explore alternative power sources
    29 may 2001 19:18:00
    Dar es Salaam- Tanzania (PANA) -- Tanzanian industrialists are exploring alternative methods of power generation to offset an erratic and costly power supply from the state-owned monopoly, Tanzania Electricity Supply Company. Full text...

  • Central Bank says kwacha slide is official
    29 may 2001 16:40:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued its nose dive and by Tuesday morning it was exchanging for 3,430 units against the greenback while indications on the foreign exchange market shower higher demand than supply. Full text...

  • All share indexes rise in spite of drop in trades
    29 may 2001 16:09:00
    Lusaka- Zambia (PANA) -- The all share index on the Lusaka Stock Exchange rose by about 1. Full text...

  • Largest brewery increases turnover and profits
    29 may 2001 11:06:00
    Lusaka- Zambia (PANA) -- Zambian Breweries Plc has more than doubled its annual after-tax profits from the 4,776 million kwacha of last year to a new level of 10,035 million kwacha. Full text...

  • Reserve Bank hosts economists' meeting
    29 may 2001 10:03:00
    Cape Town- South Africa (PANA) -- South African Reserve Bank (SARB) governor Tito Mboweni on Monday convened a meeting in Pretoria of leading academic, private sector, government, trade union and SARB economists to discuss economic developments. Full text...

  • Steep rise in petroleum products in Kinshasa
    29 may 2001 08:20:00
    Kinshasa- DR Congo (PANA) -- Prices of petroleum products have risen steeply since Sunday in Kinshasa where a litre of super has increased by 300 percent from 70 to 280 Congolese francs. Full text...

  • Kabbaj says ADB window excludes 39 African countries
    28 may 2001 22:02:00
    Abidjan- Cote d'Ivoire (PANA) -- Thirty nine African countries have had no access to non-concessionary resources of the African Development Bank (ADB) since 1995, ADB president Omar Kabbaj has said. Full text...

  • President Wade favours merger of Omega, MAP plans
    28 may 2001 21:28:00
    Dakar- Senegal (PANA) -- Senegal's President Abdoulaye Wade has acquiesced to calls for the merging into a single document, of his Omega development plan for Africa and another by Presidents Thabo Mbeki of South Africa. Full text...

  • Namibian authorities hail economic import of tourism
    28 may 2001 20:47:00
    Windhoek- Namibia (PANA) -- The authorities in Windhoek have acknowledged tourism as among the leading industries making significant GDP contributions. Full text...

  • NSE daily equities trading
    28 may 2001 20:24:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Monday 28 May 2001. Full text...

  • PM urges Africa to develop its tourism further
    28 may 2001 20:24:00
    Windhoek- Namibia (PANA) -- Namibian Prime Minister Hage Geingob Monday urged African countries to develop the continent's unexploited potential in cultural, sports and eco-tourism. Full text...

  • Accra Bourse Index marks time
    28 may 2001 18:54:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange (GSE) All-Share Index, the market indicator of the Accra bourse, opened the week flat at 894. Full text...

  • Kenya losing billions through counterfeits
    28 may 2001 16:55:00
    Nairobi- Kenya (PANA) -- Kenya government loses more than 4 billion shillings annually to suppliers of counterfeit products, an industrialist has charged. Full text...

  • Global giants to unlock South Africa's economy
    28 may 2001 15:52:00
    Cape Town- South Africa (PANA) -- World leaders, Accenture and Microsoft South Africa have joined forces with Financial Mail/ Future Company to bring South Africa the most important event for successful business in the third millennium. Full text...

  • Kenya Airways Acquires New Aircraft
    28 may 2001 09:34:00
    Nairobi- Kenya (PANA) -- Authorities at Kenya Airways Monday confirmed taking delivery of the company's first Being 767-300 ER aircraft as part of its fleet modernisation programme. Full text...

  • Zanzibar optimistic on tourism
    27 may 2001 18:39:00
    Dar es Salaam- Tanzania (PANA) -- The hospitality industry in Tanzania's federated island of Zanzibar is targeting a 5. Full text...

  • Govt begins liberalisation of oil sector
    26 may 2001 15:59:00
    Lagos- Nigeria (PANA) -- Even with opposition to the deregulation of the oil sector still growing, Nigeria's federal government has taken the first step to open up the troubled downstream oil sector. Full text...

  • Rural women inaugurate cassava mill
    25 may 2001 22:30:00
    Yaounde- Cameroon (PANA) -- The association of active women in the Cameroonian town of Ngoumou have inaugurated a cassava mill funded by the association and the UNDP. Full text...

  • EAC finance ministers want regional stock exchange
    25 may 2001 22:13:00
    Dar es Salaam- Tanzania (PANA) -- Finance ministers from the East African Community members states of Tanzania, Kenya and Uganda are urging authorities in their countries to expedite the formation of a regional stock exchange. Full text...

  • African insurers convene in Abidjan Sunday
    25 may 2001 21:22:00
    Abidjan- Cote d'Ivoire (PANA) -- Some 500 delegates from some forty countries are scheduled to convene the 28th Conference of the African Insurance Organisation 27-31 May in Abidjan, organisers of the meeting said. Full text...

  • Rural water supply, health projects get Germany grant
    25 may 2001 19:57:00
    Dar es Salaam- Tanzania (PANA) -- Germany is to grant Tanzania 40 million deutsche marks to support the implementation of several rural water supply and health projects in the country. Full text...

  • Subscription to Ivorian women's bank start
    25 may 2001 19:34:00
    Abidjan- Cote d'Ivoire (PANA) -- Ivorian women on Friday officially launched subscriptions for a bank created recently to finance the activities of women entrepreneurs. Full text...

  • Economic challenges of the African Union
    25 may 2001 17:37:00
    Dakar- Senegal (PANA) -- The euphoria evoked by the much-touted launch of the African Union 26 May, certainly masks the chronic economic ill-health of a marginalised continent, which accounts for less than two percent of the total world trade. Full text...

  • Zimbabwe's mining industry ponders uncertain future
    25 may 2001 15:03:00
    Nyanga- Zimbabwe (PANA) -- The gloomy faces Zimbabwe's mining industry captains wore as they assembled in this resort town for their annual summit unmistakably said it all: tough times are still ahead. Full text...

  • Kenyan motor industry may collapse
    25 may 2001 09:30:00
    Nairobi- Kenya (PANA) -- A Kenyan minister has predicted the imminent collapse of the country's motor industry due to the influx of cheap imports. Full text...

  • Kenya gets European Commission grant
    24 may 2001 16:06:00
    Nairobi- Kenya (PANA) -- Kenya has obtained a grant of 12 million euro (about 10. Full text...

  • Trade unions urged to fight globalisation effects
    24 may 2001 15:41:00
    Nairobi- Kenya (PANA) -- African trade unions have been challenged to fight against the side effects of market liberalisation in the continent. Full text...

  • Zambian kwacha continues to depreciate
    24 may 2001 15:26:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha continued to lose more ground Thursday as it plummeted to 3,495 units against the greenback in Bureaux de Change while at the Central Bank it was dealing at 3,375 kwacha to one dollar. Full text...

  • Mauritanians frenzied over news of oil discovery
    24 may 2001 11:53:00
    Nouakchott- Mauritania (PANA) -- Mauritanians have gone frenzy over the news of offshore oil discovery in their country by the Australian company, Woodside. Full text...

  • Dlamini-Zuma attends Comesa summit in Cairo as observer
    24 may 2001 09:56:00
    Cape Town- South Africa (PANA) -- Foreign minister Nkosasana Dlamini-Zuma is currently in Cairo attending the 6th Summit of the Common Market of Eastern and Southern Africa (Comesa) as an observer in accordance to a 1997 SADC decision that both bodies co-exist. Full text...

  • Former officials face charges over phantom rice project
    23 may 2001 23:15:00
    Accra- Ghana (PANA - Five former officials of Ghan-a government Wednesday appeared before the High Court in Accra to answer charges of causing heavy financial loss to the state through a phantom rice project. ) Full text...

  • Cape Verdians to examine private sector development
    23 may 2001 22:50:00
    Praia- Cape Verde (PANA) -- The people of the Cape Verdian Archipelago have planned a private sector development meeting for Friday and Saturday in Praia to examine problems the country was experiencing in fisheries, agriculture, trade, industry, services and tourism Some 300 participants will attend the meeting, which was organised by several organisations, including the chamber of commerce, industry and agriculture as well as the government. Full text...

  • France gives Mozambique 5.6 million dollars to repair roads
    23 may 2001 22:20:00
    Maputo- Mozambique (PANA) -- The French government on Wednesday made available 6. Full text...

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