Economy -
  • Mogae to attend economic summit in South Africa
    04 june 2001 16:38:00
    Gaborone- Botswana (PANA) -- Botswana president Festus Mogae leaves Wednesday for South Africa to attend a regional economic summit in which he will lead discussions on leadership commitment in the fight against HIV/AIDS. Full text...

  • Zimbabwe's biggest car plant shut down
    04 june 2001 15:35:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's biggest car assembly plant suspended production Monday due to what officials called lack of foreign currency to import components. Full text...

  • Spreading the seeds for African Renaissance
    04 june 2001 13:46:00
    Cape Town- South Africa (PANA) -- The post-apartheid South African government regards the upcoming OAU Summit in Lusaka as critical to its vision of creating a united African Union and progressing with the African Renaissance. Full text...

  • Mauritius records 2-percent increase in tourism
    03 june 2001 12:59:00
    Port Louis- Mauritius (PANA) -- Mauritius recorded a two- percent rise in the number of foreign tourists in the first quarter of this year as compared to the same period in 2000. Full text...

  • Equities transactions decline in Nigerian Stock Exchange
    02 june 2001 18:33:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) equities transacted during the week declined as a total of 93. Full text...

  • Sudan gets its first private locomotive
    02 june 2001 16:14:00
    Khartoum- Sudan (PANA) -- Sudan's first private railway locomotive was delivered at the Red Sea harbour of Port Sudan, press reports said Saturday. Full text...

  • Mogae warns against world recession
    02 june 2001 14:27:00
    Gaborone- Botswana (PANA) -- Botswana president Festus Mogae Friday warned that the expected slow-down in the world economy could adversely affect his country. Full text...

  • Cameroon signs oil contract with American Company
    01 june 2001 23:55:00
    Yaounde- Cameroon (PANA) -- The Cameroonian government and America's RSM Production Corporation, have signed a contract for the exploration and exploitation of hydrocarbons on Cameroon's Douala/Kribi on-shore basin. Full text...

  • Experts clear mining code for DR Congo
    01 june 2001 23:08:00
    Kinshasa- DR Congo (PANA) -- Local and international experts as well as stakeholders in the country's mining sector have finished examining the draft of a new mining code for DR Congo, due submission to President Joseph Kabila for enactment. Full text...

  • EU, Guinea Bissau in new fisheries agreement
    01 june 2001 21:55:00
    Brussels- Belgium (PANA) -- A five-year fisheries signed between the European Union and Guinea-Bissau is due in force beginning next 16 June. Full text...

  • CEMAC, CEEAC member states meet in Yaounde
    01 june 2001 21:16:00
    Yaounde- Cameroon (PANA) -- Trade ministers of the Central African Economic and Monetary Community (CEMAC) and the Central African Economic Community (CEEAC) have been meeting in Yaounde since Thursday ahead of negotiations between the European Union and ACP countries due in September next year. Full text...

  • Moi puts a smile on workers faces
    01 june 2001 20:15:00
    Nairobi- Kenya (PANA) -- Kenyan workers had cause to cheer up Friday, after President Daniel arap Moi promised them he would award salary increases to public servants as from July. Full text...

  • COMESA scouts for funds for sub regional telecom project
    01 june 2001 20:04:00
    Lusaka- Zambia (PANA) -- The Common Market for Eastern and Southern Africa (COMESA) is looking for financial resources to support national telecom operators in member states interested in the Comtel project, known as Comesa Telecommunications Interconnectivity Network. Full text...

  • Striking Workers Turn Down Government Offer
    01 june 2001 18:20:00
    Lusaka- Zambia (PANA) -- Zambians have to brace themselves for a prolonged public workers' strike after trade union leaders Friday rejected a government offer of 35 percent increase in wages across the board. Full text...

  • No share transfers on dull Lusaka bourse
    01 june 2001 16:24:00
    Lusaka- Zambia (PANA) -- Lusaka Stock Exchange continued with an unusual slumber Friday with no share transfers taking place from among 16 companies either listed or quoted on it. Full text...

  • Oil marketing firms ignore government order on prices
    01 june 2001 16:12:00
    Lusaka- Zambia (PANA) -- Operators of petrol stations in Zambia Friday disregarded a government threat that it could suspend or revoke their trade licences if they did not revert to old pump prices. Full text...

  • Kwacha holds out on new exchange rate
    01 june 2001 15:30:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha clung desperately for the fourth consecutive day to 3430 units (buying) and 3500 units (selling) as new rates of exchange set on Tuesday for the greenback. Full text...

  • Zimbabwe Stocks Ease On Profit Taking
    01 june 2001 15:01:00
    Harare- Zimbabwe (PANA) -- Stocks on Zimbabwe's bourse, voted the best performer among emerging markets in April, eased Friday on massive profit taking after a strong rally in May. Full text...

  • Parliament adopts national budget of Guinea-Bissau
    31 may 2001 22:54:00
    Bissau- Guinea Bissau (PANA) -- Parliament in Bissau this week adopted a budget of about 94,000 million CFA francs (1 dollar = 700 FCFA) for Guinea-Bissau. Full text...

  • South African Tourism participates at EIBTM
    31 may 2001 22:01:00
    Cape Town- South Africa (PANA) -- South African Tourism is participating at the annual European Incentive Business Travel and Meetings exhibition (EIBTM), a global showcase for the international meetings industry. Full text...

  • Japan aids Mozambique with rural water supply funds
    31 may 2001 21:20:00
    Maputo- Mozambique (PANA) -- The Mozambican and Japanese governments on Thursday signed an agreement under which Japan is to provide 990 million yen (about 9. Full text...

  • Benin, Mali businessmen exchange experiences
    31 may 2001 20:39:00
    Cotonou- Benin (PANA) -- Some 60 businessmen from Benin and Mali Wednesday in Cotonou exchanged experiences in food processing. Full text...

  • French construction outfit to set up in Senegal
    31 may 2001 20:29:00
    Dakar- Senegal (PANA) -- A branch of Bouygues-Construction (France) would soon be set up in Senegal, an official of the French civil engineering company, Olivier Bouygues, announced in Dakar. Full text...

  • Financial expert attends business conference
    31 may 2001 19:44:00
    Cape Town- South Africa (PANA) -- Fortune magazine editor Thomas Stewart is visiting South Africa to deliver a keynote address at Friday's Accenture Future Company Conference in Johannesburg. Full text...

  • Zambian Kwacha maintains a fragile stability
    31 may 2001 15:38:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha maintained a fragile stability on Thursday with the official Central Bank exchange rate holding on at 3,430 units against the US dollar. Full text...

  • IMF suspends co-operation with Guinea Bissau
    31 may 2001 14:59:00
    Bissau- Guinea Bissau (PANA) -- The International Monetary Fund (IMF) has suspended its co-operation with Guinea Bissau for what it termed as "lack of seriousness" in the management of funds it provided to Bissau. Full text...

  • EU proposes gradual resumption of aid to Cote d'Ivoire
    31 may 2001 14:35:00
    Abidjan- Cote d'Ivoire (PANA) -- European Union's Council of ministers is expected to discuss a proposal for the gradual and moderate resumption of aid to Cote d'Ivoire when it meeting from 10-15 June in Brussels. Full text...

  • Opencast Copper Mine Opens
    31 may 2001 14:21:00
    Lusaka- Zambia (PANA) -- A copper mine with an estimated lifespan of 18 years has been opened in Zambia's mineral rich Copperbelt province at a cost of 15 million dollars in infrastructural investment. Full text...

  • Zimbabwe Seizes Excess Forex From travellers
    31 may 2001 11:30:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's customs service said Thursday it had seized large amounts of foreign currency being taken out of the country illegally. Full text...

  • Minister says oil could boost growth, integration in sub-region
    30 may 2001 23:20:00
    Paris- France (PANA) -- Sudan's foreign minister, Mustafa Osman Ismali, Wednesday said that the country's oil could help spur economic and political security in the East Africa sub- region once enough quantities were found. Full text...

  • Congo expects 60 million-dollar debt relief
    30 may 2001 22:58:00
    Brazzaville- Congo (PANA) -- Congo Brazzaville, one of the world's most indebted countries, is expecting a reprieve of 60 million dollars under an emergency programme with the International Monetary Fund (IMF), the private weekly "Tam-Tam d'Afrique" has reported. Full text...

  • Individual states lack capacity for export trade to US, Europe
    30 may 2001 21:28:00
    Windhoek- Namibia (PANA) -- Lack of capacity hampered individual African states from catering for the US or European markets, a US trade expert said Wednesday. Full text...

  • Mozambique financial market gets risk capital fund
    30 may 2001 21:04:00
    Maputo- 30 May (AIM) -- Mozambique's Commercial and Investment Bank (BCI), in which the Caixa Geral de Depositos (CGD) of Portugal is main shareholder, Wednesday launched a risk capital fund known as FICREMO, with an initial equity of 10 million US dollars. Full text...

  • Mozambique to convert air base into international airport
    30 may 2001 20:47:00
    Maputo- Mozambique (PANA) -- News accounts in Maputo Wednesday quoted Mozambican Transport minister Tomas Salomao as hinting that government plans to transform the military air base in Nacala into an international airport. Full text...

  • Daily equities trading at Nigeria Stock Exchange
    30 may 2001 20:34:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Wednesday 30 May 2001: [ST] 1st Tier Securities Sector/Company Value of Share AGRICULTURE Okomu Oil Palm Plc 11. Full text...

  • Economic growth not reflected in living standards
    30 may 2001 20:32:00
    Maputo- Mozambique (PANA) -- Mozambique's economic growth rate in recent years has yet to make the transition from official statistics to improved living standards, Joaquim Fanheiro, general secretary of the country's main trade union federation, the OTM, has said. Full text...

  • 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...

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