ALGERIA: Likely changes in the Investment Legal Framework

Africa Update

On 6 October 2015, the Algerian Council of Minister approved draft legislation regarding the development of investments (the “Draft Investment Act“).  The Draft Investment Act contains important potential changes to the investment legal framework and seeks to encourage foreign direct investment. The Draft Investment Act proposes to repeal the existing provision requiring a surplus balance in […]

Recent amendments to COMESA merger notification thresholds and filing fees

Africa Update

Written by Ahmore Burger-Smidt, Director at South African LEX Africa member, Werksmans Advisory Services (Pty) Ltd and Kriska-Leila Goolabjith, Werksmans Associate The COMESA [1] Council of Ministers adopted various amendments at its meeting held on 26 March 2015 in Addis Ababa namely – an amendment to the COMESA Competition Rules on the Determination of Merger Notification Thresholds and Method […]

LEX Africa rated Band 1 by Chambers & Partners

Africa Update

Chambers and Partners have published their latest findings in their 2015 Global Report which reaffirms LEX Africa‘s position as  a Band 1 leading regional law firm network. Says Pieter Steyn, Chairman of LEX Africa and a director of Werksmans “We are delighted by this continued recognition by Chambers of our commitment to our clients and […]

LEX Africa expands in 6 African countries

Africa Update

LEX Africa has appointed 6 new members namely SCPA Kam & Some for Burkina Faso, Emery Mukendi Wafwana & Associés for the Democratic Republic of the Congo, Gebreamlak Gebregiorgis for Ethiopia, Jurifis Consult for Mali, Gangate & Partners for Reunion and Aquereburu & Partners for Togo. This brings the total number of countries covered by […]

LEX Africa publishes its 2015 African Business Guide

Africa Update

LEX Africa’s annual business guide has become a useful and popular reference for clients, business, media and others interested in Africa. The 2015 Guide has just been published and covers 22 African countries, Angola, Botswana, Burkina Faso, Democratic Republic of the Congo, Ghana, Kenya, Lesotho, Malawi, Mali, Mauritius, Mozambique, Namibia, Nigeria, Reunion, Senegal, South Africa, […]

LEX Africa launches Pan African insolvency and business restructuring guide

Africa Update

It is important, particularly in emerging markets like Africa, for investors and financiers to understand fully the limitations, scope and efficacy of the local insolvency regimes and the ability to foreclose and extract value in a distressed debt situation. LEX Africa‘s specialist insolvency/restructuring team is proud to launch the first edition of its Pan African […]

LEX Africa launches Pan African mining guide

Africa Update

Mining in Africa is an integral and important part of the continent’s economy. Many mining projects suffer extreme risks and difficult decisions and sound mining law is integral for an investment decision. LEX Africa‘s specialist mining team is proud to launch the first edition of its Pan African mining guide which covers 15 key African […]

Parliamentarians say Capital Gains tax to be re-introduced to Kenya

Africa Update

Highlights of the debate in Parliament which were passed relating to CGT are as follows: Comes into effect on 1 January 2015 Taxes capital gains made by companies on the disposal of any property (which is widely defined) Taxes gains made by individuals on (a) land and (b) marketable securities including investment shares (latter being […]

Acquisition of petroleum exploration rights in Zambia

Africa Update

The Petroleum (Exploration and Production) Act, 2008 (the “Petroleum Act”) provides that all property and control over petroleum and accompanying substances, in whatever physical state, located in Zambia is vested in the President on behalf of the State. In order to acquire exploration rights, a person qualified to hold exploration rights prescribed by the Petroleum […]