New Mozambican labour law about to come into force, Nigeria’s gas case lights up the arbitration world, and More on access to beneficial ownership

Mozambique - ENS?

New Mozambican labour law about to come into force

Businesses operating in Mozambique and employing individuals there have likely encountered the longstanding Labour Law, Act 23/2007, of 1 August, which has been in operation since 2007. That Act has finally been repealed, and is set to be replaced by the new Labour Law, Act 13/2023, of 25 August, which comes into operation on 21 February 2024. Continue reading

Nigeria - Werksmans

Nigeria’s Gas Case Lights Up the Arbitration World

It has ingredients of a thriller: big money, greed, bribery, deception, picturesque locations… But the main theme of the story is how it has forced a rethink about arbitration in resolving international contractual disputes. In October 2023 in England’s High Court, Mr Justice Robin Knowles set aside an award of $11-billion made by a tribunal against Nigeria’s government and in favour of a British Virgin Islands-based company called Process & Industrial Developments (P&ID). The $11-billion award was almost a third of Nigeria’s national budget for 2023 and would have come close to bankrupting the West African country. Continue reading

Kenya - ENS

Access to beneficial ownership information in Kenya: private companies?

Kenya’s Statute Law (Miscellaneous Amendments) Act, 2019, made amendments to the Companies Act, 2015, by introducing Section 93A which requires every company registered in Kenya to keep a register of its beneficial owners and file a copy with the Registrar of Companies within 30 days of its preparation or within 14 days after an amendment. A company’s register of beneficial ownership information discloses the personal information of the beneficial owners of a company, the nature of ownership or control they have, and the date they became or ceased to become beneficial owners. To operationalise this requirement, the Attorney General published the Companies (Beneficial Ownership Information) Regulations on 18 February 2020. Continue reading

Botswana?

Botswana’s opposition parties deplore the decision of the country’s Independent Electoral Commission to benchmark its election procedures against those of Zimbabwe, adding that it endorses the disputed August election.

Senegal?

The top election authority, the constitutional council, rules that President Macky Sall’s postponement of the 25 February presidential election was unconstitutional, urging authorities to organise it as soon as possible.?

Nigeria

Administration (FCTA) reveals that 43 foreign embassies and high commissions, including Russia, South Africa and C?te d’Ivoire, owe $5.3m in rent.

Afriwise Insights

Afriwise Intelligence takes a deep dive into illicit financial flows across Africa. Our team of experts noticed developments and rapid changes and have dug in, to give you the details.

"African governments are increasingly taking steps to block the rivers of illicit financial flows on the continent. The last few years have seen rapid development in regulations on anti-money laundering and countering the financing of terrorism (AML/CFT) and related fields on the African continent."

These insights were developed by our expert team:?Marzanne van den Berg,?Steven De Backer?and?Kim Hawkey.

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Afriwise at the Africa-Middle East Legal and Investment Forum (AMELIF)

Join us at the Africa-Middle East Legal and Investment Forum (AMELIF) hosted by?Al Tamimi & Company?- A key convergence of minds poised to shape the future of investment and legal frameworks across Africa and the Middle East.

Steven De Backer?will be speaking on a panel titled: "Strategies for Successful Market Entry and Risk Mitigation in African Markets." This panel will explore the nuances of navigating the African business landscape, discussing effective entry strategies and risk mitigation mechanisms.

See Event Details