Finance

NEW YORK (Capital Markets in Africa) – Teva Pharmaceutical Industries Ltd. and other generic drugmakers have held talks with the U.S. Justice Department in the past six months about resolving a long-running criminal antitrust probe of alleged price-fixing by the companies, according to people familiar with the matter. Among the possible outcomes that have been discussed are deferred prosecution agreements in which the companies would admit to certain allegations but would be shielded from an indictment…

NEW WORK(Capital Markers in Africa) – China’s chief trade negotiator indicated he was “cautiously optimistic” about reaching a phase one deal with the U.S., as two titans of American diplomacy in Asia warned of the dangers of escalating the tariff war. Vice Premier Liu He made the comments in a speech in Beijing on Wednesday ahead of the Bloomberg New Economy Forum, according to people who attended the dinner and asked not to be identified. He has…

NEW YORK (Capital Markets in Africa) – After weeks of Republican complaints that the Democrats’ impeachment inquiry relied on secondhand information, the centerpiece of this week’s public hearings is testimony from a man with a direct line to President Donald Trump. The political peril for Trump, who was dealt a series of setbacks last week, will be heightened as the House investigation accelerates with three days of public hearings starting Tuesday. No witness is more central…

NAIROBI (Capital Markets in Africa) – Safaricom Plc, Kenya’s biggest company by market value, expects the pricing for new Ethiopian telecommunications permits to liberalize the industry could be as much as $1 billion. The Horn of Africa state is expected to invite bids for two new licenses this month to compete with its monopoly Ethiopian Telecommunications Corp., which is also slated for part privatization in early 2020. The bid for the Ethiopian spectrum could be “quite…

LONDON (Capital Markets in Africa) – Helios Towers Ltd. rose 5.7% on its first day of trading after the company raised 288 million pounds ($364 million) in a long-delayed initial public offering that gives investors a foothold in Africa’s fast-growing wireless tower industry. Shares in the company that was backed by billionaire financier George Soros priced at 115 pence apiece, the bottom of the range, before closing at 121.50 pence. After a subdued start to the…

ADISS ABABA (Capital Markets in Africa) – A former JPMorgan Chase & Co. analyst is using drones and satellites to boost Ethiopia’s agricultural exports and improve food security in a nation once synonymous with famine. Africa’s second-most populous country still struggles to feed itself. But now the government’s Agriculture Transformation Agency, headed by Khalid Bomba, is aiming for widespread commercial farming and food security in 20 years. It’s modeling itself on initiatives in South Korea and Taiwan….

GABORONE (Capital Markets in Africa) – Botswana, the world’s second-biggest diamond producer, expects its trade with the U.K. to continue unhindered after Brexit. The Southern African Customs Union, which comprises Botswana, South Africa, Lesotho, Namibia, and Eswatini, along with Mozambique last month agreed on a deal with the U.K. to govern trade should it leave the European Union at the end of the month. The deal mirrors the terms SACU currently has with the EU….