The Editorial Team |

Africa’s Largest Tower Company Plans Growth in Middle East

LAGOS (Capital Markets in Africa) – IHS Holding Ltd. plans to enter new markets in the Middle East and Southeast Asia to bulk up ahead of a potential attempt to sell shares in either New York or London. Africa’s largest operator of the telecommunications towers is looking to build on two recent deals in Saudi Arabia and Kuwait, Chief Executive Officer Sam Darwish said by phone. “We are actively looking to add additional towers from the gulf area…

India Glows as Emerging Markets Take New Heart From Trade Talks

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LAGOS (Capital Markets in Africa) – However worried investors may be about IMF Managing Director Christine Lagarde’s warning on the global economic outlook, there was little sign of it in today’s emerging markets, which were clearly taking their cue from a report that the U.S.-China trade dispute may be closer to ending and a stronger-than-forecast China services PMI. There were few losers in the currency markets, average dollar-bond spreads were a touch narrower and a firmly green…

Ethiopian Air Pilots Said to Follow Protocol on 737 Max Flight

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ADDIS ABABA (Capital Markets in Africa) – Pilots on the Ethiopian Airlines flight that crashed last month followed protocol set by planemaker Boeing Co. to manually disable an automated anti-stall system as they tried to save the Boeing Co. 737 Max jet, a person familiar with the situation said. The Manuevering Characteristics Augmentation System turned itself on numerous times during the short flight, the person said. MCAS, which is programmed to push down a plane’s…

Vodacom Tanzania Says Police Arrest MD Over Network Use

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DAR ES SALAAM (Capital Markets in Africa) – Police have questioned several Vodacom Tanzania Ltd. employees, including Managing Director Hisham Hendi, over alleged fraudulent use of network facilities, the company said. “No formal charges have been preferred against these employees, but we have been advised that they may appear in court today,” the company said in an emailed statement. Hendi was named head of the Vodacom Group Ltd. unit in March after months of leading the…

Nigeria Says There’s Consensus OPEC+ Deal Will Be Extended

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LAGOS (Capital Markets in Africa) – The OPEC+ deal to curb oil production probably will be extended, “hopefully for another six months” beyond the end of June, Nigerian oil minister Emmanuel Kachikwu said. The agreement has stabilized the oil market and easing the curbs could bring back excess supply, he told reporters at a conference in Malabo, Equatorial Guinea. However, Nigeria, which has pumped more crude than it pledged to under the deal, will find it challenging…

Aspen Is Said to Get Approvals for Baby-Milk Deal in Weeks

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JOHANNESBURG (Capital Markets in Africa) – Aspen Pharmacare Holdings Ltd. is expected to receive final approvals to complete the sale of its milk-formula business within weeks, according to people familiar with the matter, after delays to the deal wiped out more than 30 percent of the South African drugmaker’s market value. New Zealand authorities have indicated that the disposal to French dairy company Lactalis International could be approved this month, said the people, who asked not…

Sierra Leone Public Finance Audit Shows $1 Billion Missing

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SIERRA LEONE (Capital Markets in Africa) – A probe into state funds in Sierra Leone has shown that the government can’t account for $1 billion, or more than a quarter of its gross domestic product, in state expenses made over a three-year period. The funds are missing due to graft and mismanagement under the previous administration, Finance Minister Jacob Jusu Saffa said Tuesday on Star Television. He pledged that the government will recover the funds by June,…

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