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Key legal and regulatory challenges when doing business in Africa

Key legal and regulatory challenges when doing business in Africa. Lodewyk Meyer Norton Rose Fulbright South Africa 23 July 2013. Africa: not one country. not one country 55 countries, different jurisprudence and legal systems: English Portuguese Roman-Dutch Arabic and indigenous

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Key legal and regulatory challenges when doing business in Africa

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  1. Key legal and regulatory challenges when doing business in Africa • Lodewyk Meyer • Norton Rose Fulbright South Africa • 23 July 2013

  2. Africa: not one country • not one country • 55 countries, different jurisprudenceand legal systems: • English • Portuguese • Roman-Dutch • Arabic and indigenous • French • 17 OHADA states (Benin, Burkina Faso, Cameroon,Central African Republic, Chad, the Comoros, the Congo, DRC, Côte d’Ivoire, Equatorial Guinea, Gabon, Guinea Bissau, Guinea, Mali, Niger, Senegal and Togo)

  3. Africa: not one country • differences in norms and cultural contexts • political instability/unpredictable policy • currency fluctuations • transacting with government • trade sanctions • infrastructure issues – road, rail, port,power • stable banking sector • Identifying risks informs your decision making andhelps you to manage transactions and deal with counterparties appropriately

  4. Africa: general issues • legal culture and market practice • lack of development of local laws • experience of local counsel and oversight role by international legal counsel

  5. Africa: legal issues to flag • corporate issues: setting up a company • tax issues: “permanent establishment”, VAT, double tax treaties, customs and excise, stamp duties, WHT, exchange controls • export and import restrictions: protectionist measures, export bans • competition: local and regional (COMESA) • intellectual property issues: can you protect and transfer your IP assets

  6. Africa: legal issues to flag • employment issues: quotas, visas, tax issues, statutory payments • corruption and bribery: zero tolerance approach; put controls in place • industry specific controls/ regulations (e.g. oil, mining, financial services, agricultural produce) • governing law – enforcementand taking security (follow the asset ie location of land, cash, shares, moveables, rights)

  7. Legal risk: mitigation techniques • due diligence (business and legal) • identify risks and allocate and mitigate • structuring transactions • insurance • upfront advice • local partners

  8. Disclaimer • Norton Rose Fulbright LLP, Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP, Norton Rose Fulbright South Africa (incorporated as Deneys Reitz Inc) and Fulbright & Jaworski LLP, each of which is a separate legal entity, are members (“the Norton Rose Fulbright members”) of Norton Rose Fulbright Verein, a Swiss Verein. Norton Rose Fulbright Verein helps coordinate the activities of the Norton Rose Fulbright members but does not itself provide legal services to clients. References to “Norton Rose Fulbright”, “the law firm”, and “legal practice” are to one or more of the Norton Rose Fulbright members or to one of their respective affiliates (together “Norton Rose Fulbright entity/entities”). No individual who is a member, partner, shareholder, director, employee or consultant of, in or to any Norton Rose Fulbright entity (whether or not such individual is described as a “partner”) accepts or assumes responsibility, or has any liability, to any person in respect of this communication. Any reference to a partner or director is to a member, employee or consultant with equivalent standing and qualifications of the relevant Norton Rose Fulbright entity. The purpose of this communication is to provide information as to developments in the law. It does not contain a full analysis of the law nor does it constitute an opinion of any Norton Rose Fulbright entity on the points of law discussed. You must take specific legal advice on any particular matter which concerns you. If you require any advice or further information, please speak to your usual contact at Norton Rose Fulbright. Thank you Lodewyk Meyer +27 11 685 8806 lodewyk.meyer@nortonrosefulbright.com Laurie Hammond +27 21 405 1248 laurie.hammond@nortonrosefulbright.com

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