Local Investment Laws and Indigenisation
It may seem obvious but “Africa” is not a country but 54 sovereign states. Each country has its own political, economic, cultural, historical and socio economic issues and policies and strategies to attract and leverage benefits from both local and foreign investments vary from country to country. These range from reserving sectors of the economy for locals only, restrictions on foreign ownership, requirements for local partners and management, the employment of locals and affirmative action and restrictions on foreigners owning land.
Investment incentives are available (for example special economic zones, tax holidays and other tax incentives) and need to be fully understood to maximise their benefits. Bilateral Investment Treaties, Free Trade Agreements and double taxation treaties also need to be taken into account.
Our specialist lawyers have practical and expertise and experience and a deep understanding of these legal, regulatory issues to guide clients and provide practical solutions for their businesses.
Angola: Advising on the incorporation/ registration of more dozens of local subsidiaries or branches of foreign companies and assisting in the negotiation of their respect investment projects.
Botswana: Played a pivotal role in the development of the Botswana Stock Exchange (‘BSE’), the collective investment undertaking industry, and the International Financial Services Centre, including assisting in the formulation of applicable legislation and regulatory regimes.
Ghana: Advising a Ghanaian client on a collaboration for the establishment of a starch plant and the integration of the starch plant and an existing ethanol plant located in the Volta Region of Ghana.
Kenya: Jurisdictional opinions to two American aircraft leasing companies on aircraft leasing, registration and the Cape Town Convention and Protocol.
Lesotho: Assisted a South Africa Brewing company with its sales of shares and disinvestment in Lesotho.
Morocco: Legal advice to Siparex, a French Private Equity investment fund, in connection with its Moroccan antitrust filing in the context of the acquisition of Sintex NP
Mozambique: Advice on preparation and setting up of deal structure including restructuring of holding companies in foreign Jurisdictions and elaboration of all projects contracts for the largest deal on private equity into a Mozambican Industrial and commodity trading entity.
Nigeria: Advising an American manufacturing company in its business entry into Nigeria and compliance with regulatory authorities.
South Africa: Advised Glencore International, together with its local Black Economic Empowerment partner Cyril Ramaphosa (together the “Consortium”), in its acquisition of an interest in a further 36.56 per cent of the issued share capital of Optimum Coal Holdings Limited.
Tanzania: Advised a financer and bank on the development of a gas powered electricity plant in Southern Tanzania.
Uganda: We advised DFCU Bank Ltd on its IPO and listing of its shares on the Uganda Securities Exchange, at the time the largest listing in the history of Uganda.
Zambia: Advisor to the Industrial Development Corporation of Zambia Limited (“IDC”), the Zambian government holding company for all parastatals, in relation to the establishment of the National Airline of the Republic of Zambia through a joint venture with Ethiopian Airlines, the flag carrier of Ethiopia and wholly owned by the country’s government.
Zimbabwe: Representing human rights defenders in constitutional claims on separation of powers, challenging constitutionality and reasonableness of statutory instruments, representing human rights defenders in criminal proceedings.
Comprehensive Specialist Legal Expertise and Experience Across Africa
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LEX Africa’s lawyers have deep expertise and experience in local laws, regulations, practices and customs. Their goal is to deliver customised services that align with each client’s unique needs, ensuring efficient, compliant and successful outcomes. Together they form a strong Pan African legal team and resource for our clients.
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