May 2013 Whisperings on African Business Developments and Opportunities by Africa Project Access www.africaprojectaccess.co.za
MAJOR MINING COMPANIES APPEAR TO BE SLOWING THE PACE OF THEIR MINING PROJECTS AND VENTURES IN AFRICA AND IN SOME CASES, EVEN WITHDRAWING THEM. Anglo American has reportedly abandoned its plan to buy a metallurgical coal project in Mozambique’s Zambezi Valley and BHP Billiton has halted its iron ore and manganese operations in Gabon. Vale has alluded that it may be abandoning its iron ore operations in Guinea. It appears that personnel changes to senior management of Rio Tinto and Vale are likely to lead to a more risk-averse and conservative approach.Click here to read more
April 2013 Whisperings on African Business Developments and Opportunities by Africa Project Access www.africaprojectaccess.co.za
PIRACY is an alarming occurrence on the southern EAST AFRICAN COAST. A security vessel based in MTWARA PORT, SOUTHERN TANZANIA apprehended a gang of pirates in 2012. A number of gas companies such as British Gas and Maurel & Prom have drilling operations in such area.Click here to read more
Whisperings for the first quarter of 2013 on African Business Developments and Opportunities by Africa Project Access wwwafricaprojectaccess.co.za
There is considerable confusion over the validity of certain announced CEMENT PLANTS most notably in MOZAMBIQUE AND ANGOLA. Some investors periodically announce the imminent construction of new plants in order to extend the concessions and trading rights received from the relevant government authorities. Angola has begun to clamp down on this by annulling concessions and licenses if not utilised.Click here to read more
COMESA Regional Competition Authority commences operations
COMESA (the Common Market for Eastern and Southern Africa) is a regional body of 19 African countries (Burundi, Comoros, the Democratic Republic of Congo, Djibouti, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia, Zimbabwe, Egypt and Malawi). The COMESA Competition Regulations came into effect on 14 January 2013 and have very significant implications for transactions and firms doing business in COMESA countries. The COMESA Competition Commission (“CCC”) is based in Lilongwe, Malawi.Click here to read more
Adherence by the Democratic Republic of the Congo to the organization for the harmonization of business law in Africa (OHADA). Comments by DRC Lex Africa member Djunga & Risasi
OHADA is a system of business laws and common institutions adopted by various Western and Central African states, including
November 2012 Whisperings on African Business Developments and Opportunities by Africa Project Access
At the recent IMF/World Bank annual meetings in Tokyo, there was considerable interest in the successful implementation of EUROBONDS BY AFRICAN GOVERNMENTS. Read about this story and more.Click here to read more
Lex Africa member Corpus Legal Practitioners advises China Nonferrous Metal Mining Group (CNMC) on its $314 million Initial Public Offering (IPO)
Corpus Legal Practitioners, Zambia’s leading corporate law firm and Lex Africa member , acted for China Nonferrous Metal Mining Group (CNMC) on its $314 million initial public offering (IPO) making it the first foreign mining conglomerate to list a local asset outside Zambia. CNMC successfully listed the first "African stock" on the Hong Kong Stock Exchange on 29 June 2012.
CNMC is a leading vertically integrated Zambian based copper producer, focusing on the mining, ore processing, leaching, smelting and sale of copper and was the largest Chinese enterprise in terms of total overseas copper production in 2011.
Corpus Legal Practitioners was engaged to act as the Zambian legal advisers to CNMC in relation to the whole transaction, including the restructuring of its local assets.Click here to read more
September 2012 Whisperings on African Business Developments and Opportunities by Africa Project Access
The RETIREMENT OF THE GOVERNOR OF KATANGA PROVINCE IN DRC, Moïse Katumbi, next year has caused some nervousness over his successor.
August 2012 Whisperings on African Business Developments and Opportunities by Africa Project Access www.africaprojectaccess.co.za
There is increased questioning of South Africa's status as the GATEWAY INTO AFRICA. Some observers point out that South Africa is not geographically well‑positioned and that a number of major multinational firms have established their regional HQ's in Nairobi, Kenya. Companies are also increasingly accessing their target markets directly. Relatively few Canadian and Australian junior miners operating in Southern Africa have established full offices in Johannesburg. The east‑west development corridors effectively cut out South African ports which some deem to be too expensive. United Nations relief agencies appear to have reduced their procurement offices in South Africa and refocused on Nairobi due to the apparent lack of South African business interest in relief aid opportunities in the sub‑continent.Click here to read more
Developments in the Nigerian Oil Industry - comments by Lex Africa's Nigerian member, Giwa Osagie & Co
Nigeria, home to the world's seventh-largest gas reserves and with more proven oil in the ground than the rest of sub-Saharan Africa combined, has been experiencing increased regulatory uncertainty ahead of implementation of the landmark energy Bill (Petroleum Industry Bill), which has been stuck in parliament for more than five years.Click here to read more