Baker McKenzie’s Africa-focused Banking & Finance team advised on one of Global Trade Review’s (GTR) Best Deals 2022 . The team advised Aspen Pharmacare Holdings Limited and certain of its subsidiaries (Aspen Group) on this winning deal, which comprised a joint financing package for the amount of €600 million (around ZAR 10 billion) that was finalised by the […]
Tag Archives: African trade
By Lodewyk Meyer, Partner and Head of the Banking & Finance Practice, and Lucy Stratton, Associate Designate, Baker McKenzie, Johannesburg As stated by President of the African Development Bank (AfDB), Akinwumi A. Adesina, “trade finance is an important instrument for influencing Africa’s long-term economic development and structural transformation”. According to a report by the AfBB and […]
By Lerisha Naidu, Partner, Competition & Antitrust; Lodewyk Meyer, Partner, Banking and Finance; Mike van Rensburg, Partner, M&A; and Virusha Subban, Partner, Customs and Trade, Baker McKenzie Johannesburg 1. Visible green shoots – rising commodity prices The pandemic closed borders and stopped trade, other than for essentials, across the continent and was the principal reason […]
By Virusha Subban, Partner and Head of Indirect Tax, Baker McKenzie Johannesburg On 2 November 2021, US President Joe Biden announced that three African countries would be terminated from the African Growth and Opportunity Act (AGOA) trade preference program, unless they took urgent action to meet statutory eligibility criteria by 1 January 2022. The three […]
The Luanda-Bengo Special Economic Zone (ZEE) launched a useful new tool for investors, the GAI (Guiché de Apoio ao Investidor), or Investor Support Office, which in addition to supporting the presidential directive to facilitate access for national and foreign investors, will eliminate bureaucratic obstacles that can hinder the actions of those who want to access […]
The impact of the pandemic on global supply chains has prompted governments around the world to look at ways to fix the broken links. In Africa, the launch of African Continental Free Trade Area (AfCFTA), has provided the continent with new opportunities to strengthen its regional supply chain. Virusha Subban, Head of Indirect Tax at […]
By Jana Botha, Tax Consultant, and Prenisha Govender, Associate, Tax Practice, Baker McKenzie Johannesburg The pandemic-fuelled growth of the digital economy and unabated demand for online retail products across Africa have led to extensive disruption in the Consumer Goods and Retail Sector (CG&R) sector. Due to a growth in demand for online retail, CG&R companies […]
2-Million-Year-Old Stone Tools Discovered: How Were Humans Back Then? Ancient Artifacts and findings in Kalahari. Archaeologists discover new site in East Africa. Medieval Beads: The Truth behind the African Trade Routes. The Oldest Bedding Found in South Africa. South African ‘lost city’ found using laser technology. The 2021 year. 2-Million-Year-Old Stone Tools Discovered: How Were […]
In 2020, 95% of all kidnappings at seas took place in the Gulf of Guinea. There, pirates, equipped with firearms, frequently enter ships, capture the crew, and steal cargo. Pirates are becoming more and more advanced in their tactics and the majority of attacks are carried out in hopes of getting ransom. Piracy creates problems […]
By Daireann Gibson, Managing Partner at Gibson & Associates Solicitors Ireland is becoming an increasingly popular destination for individuals from across Africa who are looking to move abroad. South Africa in particular has seen 3,000 immigrants choose Ireland as their new home, and for investors in particular, Ireland provides a wealth of opportunities. The relationship […]
Appliance giant Defy to aid in the advancement of projects that ensure the sustainability of trade, natural resources, and life in Africa From 5 – 7 March 2021, leading manufacturer of home appliances, Defy, will be hosting the Hack The Normal online hackathon with the aim of exploring how technology can be leveraged for sustainable living and economic development […]
by Pomy Ketema, Counsel, Baker McKenzie, New York The African Continental Free Trade Area (AfCFTA) is one of the largest trading blocs in the world with the majority of African countries now operating under its preferential trade framework. Trading under AfCFTA commenced on January 1, 2021 under a liberalized trade regime that would gradually lead […]
Dealmaking activity in sub-Saharan Africa (SSA) dropped in the second half of 2020 (H2 2020), when compared to the second half of 2019 (H2 2019) and year-on-year, deals were also down in both volume and value when compared to 2019. According to Baker McKenzie’s analysis of Refinitiv data, M&A transactions dropped in SSA in H2 […]
By James Hall Analysis in Brief: The benefits of boosting the low rate of trade amongst African countries are undeniable. The countries signing on to the African Continental Free Trade Area (AfCFTA) know this. However, inertia to break old trade barriers and against building value-added industries to replace foreign imports is the challenge to overcome. As […]