Economy -
  • Cape Verde among African states with most substantial growth
    27 april 2001 14:34:00
    Praia- Cape Verde (PANA) -- Cape Verde is among five African countries which had the most substantial Gross Domestic Growth (GDP) during 2000, the International Monetary Fund (IMF) revealed Thursday. Full text...

  • Oxfam says debt initiative for poor countries be widened
    27 april 2001 14:27:00
    Washington- United States (PANA) -- Oxfam, an international aid agency that has championed debt forgiveness for poor countries, has asked the World Bank and the International Monetary Fund (IMF) to further widen and deepen debt relief under the Heavily Indebted Poor Countries initiative (HIPC). Full text...

  • Kenya optimistic about ending stalemate with donors
    27 april 2001 10:22:00
    Nairobi- Kenya (PANA) -- A senior Kenyan government official Friday expressed satisfaction with ongoing negotiations with the International Monetary Fund (IMF) and the World Bank. Full text...

  • IMF suggests ways for Africa's integration in global trade
    26 april 2001 21:57:00
    Washington- US (PANA) -- The International Monetary Fund (IMF) has suggested that trade liberalisation and reduction in transaction costs could reverse Africa's growing marginalisation from global trade. Full text...

  • China cancels Cape Verde's 50-million-yuan debt
    26 april 2001 21:40:00
    Praia- Cape Verde (PANA) -- China has announced the cancellation of 50 million yuan debt owed it by Cape Verde (1 yuan = 8. Full text...

  • Cashew nut prices tumble in Guinea Bissau
    26 april 2001 20:07:00
    Bissau- Guinea Bissau (PANA) -- Private cashew nut buyers in Guinea Bissau have been offering between 150 F CFA or even 100 F CFA instead of 300 F CFA per kg as fixed by the government. Full text...

  • Nigeria Stock Exchange: Thursday's equity trading
    26 april 2001 17:55:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Thursday 26 April 2001: 1st Tier Securities Sector/Company Value of Share [ST] AGRICULTURE Okomu Oil Palm Plc 11. Full text...

  • Morocco devalues the dirham
    26 april 2001 16:24:00
    Rabat- Morocco (PANA) -- Finance ministry officials in Rabat have announced a devaluation of Morocco's dirham by 5 per cent in a bid to cushion off the impact of fluctuations in major international currencies. Full text...

  • West, central Africa envision coastal shipping company
    26 april 2001 15:40:00
    Lome- Togo (PANA) -- Ports authorities in West and Central Africa meeting in Lome, Togo, have launched a project to set up an African coastal shipping company. Full text...

  • Zimbabwe, Botswana sign trade deal
    26 april 2001 15:04:00
    Harare- Zimbabwe (PANA) -- Zimbabwe and Botswana Thursday signed a new trade agreement, which officials said would help to strengthen economic ties between their two countries The pact replaces that signed in 1956 by their colonial rulers, which the officials said had hindered trade. Full text...

  • Kenya to extend oil pipeline to Uganda
    26 april 2001 12:22:00
    Nairobi- Kenya (PANA) -- The Kenyan government has embarked on a multi-million shillings project to extend its oil pipeline to Kampala in Uganda, official sources said. Full text...

  • Morocco, Korea set up business council
    26 april 2001 11:53:00
    Casablanca- Morocco (PANA) -- The General Confederation of Moroccan Industry (CGEM), an employers' association, and the Federation of Korean Industry (FKI) have set up a business council in Casablanca, Moroccan officials said. Full text...

  • Big efforts underway to promote Libyan tourism
    26 april 2001 10:31:00
    Tunis- Tunisia (PANA) -- Officials from the Libyan Tourism and Investment Promoting Authority have reported that both the Libyan government and Libyan private sector are taking big steps to attract a greater number of tourists to the country, the local press said Thursday. Full text...

  • Senegal to benefit 1.3 million Euros in debt relief
    25 april 2001 23:46:00
    Dakar- Senegal (PANA) -- The European Investment Bank (EIB) would give Senegal 1. Full text...

  • Spanish businessmen in Dakar
    25 april 2001 23:21:00
    Dakar- Senegal (PANA) -- A trade mission composed of 16 leaders of enterprises from the Canary islands is on its second day of its tour of Senegal to explore possibility of forging links with their colleague in Dakar. Full text...

  • Diamond conference opens in Brussels
    25 april 2001 22:33:00
    Brussels- Belgium (PANA) -- The international conference on the certification of uncut diamonds opened in Brussels Wednesday in the presence of delegates from 43 countries as well as representatives of the diamond industry and NGOs. Full text...

  • France, Cote d'Ivoire sign financial agreements
    25 april 2001 20:54:00
    Abidjan- Cote d'Ivoire (PANA) -- Paris and Abidjan have signed four cooperation agreements totalling 5. Full text...

  • Government questioned on economic role
    25 april 2001 20:14:00
    Praia- Cape Verde (PANA) -- Cape Verdian Prime Minister Jose Maria Neves has said that foreign and local investors had expressed confidence in the future of the country since his government took office on 1 February this year. Full text...

  • South Africa acquires more shares in ADB
    25 april 2001 20:07:00
    Dakar- Senegal (PANA) -- South Africa will increase its shareholding in the African Development Bank from 0. Full text...

  • Mauritius at crossroads after boon under Lome Conventions
    25 april 2001 19:27:00
    Port Louis- Mauritius (PANA) -- Deputy Prime minister Paul Berenger said Mauritius has prospered for more than three decades mainly through trade preferences it enjoyed under the successive Lome Conventions amidst severe swings in the world economy. Full text...

  • DR Congo ends Israeli firm's diamonds marketing monopoly
    25 april 2001 14:32:00
    Kinshasa- DR Congo (PANA) -- The DR Congo government has cancelled the exclusivity licence granted to the Israeli International Diamond Industries S. Full text...

  • Stakeholders discuss Cameroon cocoa, coffee
    25 april 2001 13:08:00
    Yaounde- Cameroon (PANA) -- The international forum on Cameroonian cocoa and coffee (FICCA 2001) rolled off in Yaounde Wednesday, with participants exchanging ideas and experience in their dealings within the sector. Full text...

  • Zambian Kwacha regains strength against the dollar
    25 april 2001 12:24:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha has, after a month of uncontrollable depreciation, hit a skid and become bullish against the US dollar. Full text...

  • Nkana (Zambia) miner dies in underground mishap
    25 april 2001 12:19:00
    Lusaka- Zambia (PANA) -- A Zambian miner has died underground at Nkana Copper Mine after he was hit by a rock fall. Full text...

  • Currency speculators burn fingers in Zimbabwe
    25 april 2001 12:09:00
    Harare- Zimbabwe (PANA) -- Businessmen speculating over the state of the Zimbabwean dollar are facing huge losses as the government continues to hold out against demands to devalue the currency, bankers said Wednesday. Full text...

  • Zambia increases exports to other COMESA members
    24 april 2001 23:27:00
    Lusaka- Zambia (PANA) -- Zambia has quickly risen to the top echelons of big exporters of goods to other members of the Common Market for Eastern and Southern Africa since the Free Trade Area was established. Full text...

  • 4th international transport show begins 31 May
    24 april 2001 23:19:00
    Rabat- Morocco (PANA) -- The international show on the transportation of goods, persons and logistics (SITMAP) will be organised in Casablanca from 31 May to 3 June on the theme "transport, a vehicle for economic development". Full text...

  • Wade promises to end Air Afrique problems
    24 april 2001 23:04:00
    Dakar- Senegal (PANA) -- President Abdoulaye Wade of Senegal said on Tuesday promised to consult his colleagues within a month or so to find a solution to the problems facing the multinational airline, Air Afrique. Full text...

  • Algeria records over 3 billion dollars trade surplus
    24 april 2001 22:58:00
    Tunis- Tunisia (PANA) -- Algeria registered a surplus of 3. Full text...

  • Brussels hosts conference on diamonds Wednesday
    24 april 2001 22:31:00
    Brussels- Belgium (PANA) -- An international conference on diamonds convenes 25-27 April in Brussels, Belgian Foreign Ministry sources said. Full text...

  • Belgium accused continuing sale of UNITA diamonds
    24 april 2001 21:03:00
    Brussels- Belgium (PANA) -- The Belgian mining marketing town of Antwerp has continued to buy diamonds from the rebel National Union for the Total Independence of Angola (UNITA), according to a secret report released by the General Intelligence Service. Full text...

  • Two arrested over 1.7-billion kwacha bank theft
    24 april 2001 20:31:00
    Lusaka- Zambia (PANA) -- Zambian authorities are holding a bank clerk and an accomplice in connection with the theft of 1. Full text...

  • Kenya's cereals import bills rising
    24 april 2001 20:13:00
    Nairobi- Kenya (PANA) -- The steady but serious rise in Kenya's dependency and spending on cereal imports indicted the nation's agricultural policies and the management of the sector as a whole, analysts observe. Full text...

  • Senegal gets 6 billion F CFA BOAD loan
    24 april 2001 19:59:00
    Lome- Togo (PANA) -- The Senegalese National Electricity Company has obtained a loan of 6 billion F CFA from the Lome- based West African Development Bank to expand its thermal station at Cap de biches in the outskirts of Dakar. Full text...

  • Poor roads hold up important mine project
    24 april 2001 19:38:00
    Lusaka- Zambia (PANA) -- The poor state of roads in the mineral rich Copperbelt region was preventing the start of the Konkola Deep Mining Project whose capital expenditure is estimated at 500 million US dollars, its chief executive, Tim Wadeson said Tuesday in Lusaka. Full text...

  • ADB to finance artisanal fishing
    24 april 2001 19:01:00
    Maputo- Mozambique - The African Development Bank (ADB) - is studying the possibility of financing a 10 million US dollar project to support artisanal fishing in the northern Mozambican provinces of Nampula and Cabo Delgado. Full text...

  • Poverty deepens despite macroeconomic achievements
    24 april 2001 18:06:00
    Dar es Salaam- Tanzania (PANA) -- A damning report by Tanzania's National Bureau of Statistics has revealed that recent achievements on the macroeconomic front have failed to reverse grinding levels of poverty in the East African state. Full text...

  • East Africa consolidates stand in face of ACP-EU agreement
    24 april 2001 17:39:00
    DAR ES SALAAM- Tanzania (PANA) -- East African Community (EAC) states are to develop a common position that will govern their future ACP-EU relations under the Cotonou Agreement. Full text...

  • Zimbabwe tobacco auction opens
    24 april 2001 17:35:00
    Harare- Zimbabwe (PANA) -- Tobacco trading in Zimbabwe opened on a subdued note on Tuesday, with farmers vowing to withhold their crop unless the government devalued the local currency, the Zimbabwean dollar. Full text...

  • Moves underway to improve Rwanda's coffee production
    24 april 2001 16:36:00
    Kigali- Rwanda (PANA) -- The chairman of the Rwanda's coffee board of directors, Anastase Nzirasanaho, said efforts are underway to revive the coffee sector in a bid to boost production from 700 kgs to two tonnes per hectare. Full text...

  • COMESA countries set to remove non-tariff barriers
    24 april 2001 15:34:00
    Lusaka- Zambia (PANA) -- Member states of the Common Market for Eastern and Southern Africa (COMESA) are studying modalities of removing non-tariff barriers that have become increasingly important following the launch of the Free Trade Area (FTA) last October. Full text...

  • Malawi government to hands-off livestock industry
    23 april 2001 13:59:00
    Blantyre- Malawi (PANA) -- Government is planning to pull out of Malawi's declining livestock industry to give the private sector a chance to revive it. Full text...

  • Banker says Malawi has 'too many banks'
    23 april 2001 13:17:00
    Blantyre- Malawi (PANA) -- Malawi has far too many banks for its economy, according to a senior banker. Full text...

  • Russian firm to prospect for oil around Khartoum
    22 april 2001 18:01:00
    Khartoum- Sudan (PANA) -- Russia's oil company, Slavneft, Sunday concluded an agreement with the Sudanese government to prospect for oil in and around Khartoum, official sources said. Full text...

  • Cotonou needs 2 billion CFA francs to revamp power grid
    22 april 2001 14:16:00
    Cotonou- Benin (PANA) -- Director General Roger Kouessi of Benin's Electricity and Water Company said about 2 billion CFA francs is needed to rehabilitate the power grid in Cotonou, which has been defective over the past few weeks. Full text...

  • EAC to launch five-year development strategy Tuesday
    22 april 2001 10:36:00
    Dar es Salaam- Tanzania (PANA) -- Presidents Benjamin Mkapa of Tanzania, Daniel arap Moi of Kenya and Yoweri Museveni of Uganda are expected to launch a development strategy covering 2001-2005 during a summit of their East African Community scheduled Tuesday in Arusha, northern Tanzania. Full text...

  • Industry leader pledges to work for sector's recovery
    21 april 2001 19:50:00
    Maputo- Mozambique (PANA) -- The newly-elected leadership of the Mozambican Industrial Association (AIMO) has pledged to work for the recovery of the industrial sector of the economy, which it warned was on the verge of disappearing altogether. Full text...

  • Planned dam given favourable environmental assessment
    21 april 2001 19:06:00
    Maputo- Mozambique (PANA) -- The new dam planned for Mepanda Uncua on the Zambezi river in Mozambique's western province of Tete will inundate a relatively small area, creating a lake that is only 100-square km in area. Full text...

  • French Ministers due in Abidjan
    21 april 2001 19:00:00
    Abidjan- Cote-d'Ivoire (PANA) -- French Finance and Co-operation Ministers, Laurent Fabius and Charles Josselin, are due next week in Cote-d'Ivoire, where they are expected to sign major financial agreements and take part in the Ministerial meeting of the currency, Franc Zone, in Abidjan. Full text...

  • NSE weekly trading upbeat in stock transactions
    21 april 2001 17:51:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) was upbeat in its equities transactions during the week as a total of 76. Full text...

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