Whistleblowers: How do we guard the guardians?

In a letter to fellow South Africans on 30 August 2021, President Cyril Ramaphosa described whistle-blowers as “important guardians of our democracy.” The President also said “While numerous systems are in place to enable whistle-blowers to report wrongdoing anonymously, we need to tighten up existing systems and provide greater support to those who publicly come … Read more

UNPACKING SAUDI ARABIA’S COMPREHENSIVE NEW MINERAL REGULATORY REGIME – PART 2 of 3

INTRODUCTION  As explained in part one of this series, the Kingdom of Saudi Arabia (the Kingdom) is implementing a number of structural reforms to the mining sector. Among other things, the measures seek to stimulate private sector investment by intensifying exploration, building a comprehensive database of the Kingdom’s resources, reviewing the licensing procedures for mineral … Read more

Welcome to Africa Week 2021

We are delighted to launch our HSF Africa Week to mark the annual celebration of Africa Day on 25 May. In a video message, Herbert Smith Freehills CEO, Justin D'Agostino welcomes everyone to the start of the inaugural Africa Week which includes a series of Africa focused virtual events. These event seek to bring together African specialists and commentators to discuss critical issues and key trends across the continent, including energy transition, digitalisation, ESG, funding sources and intra-continental trade. Read more

THE ROLE AND IMPACT OF INSTITUTIONS CURSE IN PERPETUATING THE RESOURCE CURSE

When oil, natural gas, or similar natural resources are discovered the expectation is that their exploitation will dramatically and materially benefit the population of the host country. Notwithstanding this, developing nations frequently experience either (or both) increased corruption (through predatory rent-seeking) or paradoxically slower economic growth after the resources are discovered. This anomaly is often … Read more

AFRICA CO-CHAIR STEPHANE BRABANT HONOURED WITH LIFETIME ACHIEVEMENT AWARD

Herbert Smith Freehills LLP is pleased to announce that the firm’s Africa co-Chair Stéphane Brabant has received a Lifetime Achievement Award from Chambers and Partners in recognition of his contribution to the legal profession and to the practice of law across the African continent. The award was announced at the Chambers Africa Awards 2021 webinar … Read more

RESPONSIBLE INVESTMENT BROCHURE

Authors: Nila Wilde, Martin Kavanagh, Rebecca Major and Joanne Elson For Africa-focused developers and sponsors in the renewable energy market, ESG is likely in the forefront of your minds and it is important to show knowledge of what is expected in the responsible investing market in order to ensure swift project development and to enhance … Read more

A Perfect Storm: negotiating African M&A deals in these times of COVID-19, low oil and gas prices, currency fluctuations, increased nationalism and increased focus on ESG

Author: Rebecca Major In spite of the current economic and sanitary climate, we are seeing, and expect to continue to see, M&A deals in Africa, including in particular: deals already agreed before COVID-19/the drop in oil and gas prices; sellers looking to sell to raise money; and buyers with cash/available credit lines looking to leverage … Read more

ALGERIA : REOPENING ALGERIA TO FOREIGN INVESTMENTS

The supplementary finance law for 2020, published in the Official Gazette on 4 June 2020, has amended the legal framework for foreign investment in Algeria with the aim of facilitating such investment in the country. This long awaited law implements the following principal changes: (i) the repeal of the 51/49 rule (save for the retail … Read more

THE YEARS OF ‘COVID CAPTURE’ CALL FOR VIGILANCE

Author: Cameron Dunstan-Smith Governments and corporates must ensure delivery of vital goods and services to protect citizens and equip state facilities.  The Covid-19 pandemic is the most challenging global economic disaster the world has witnessed in a generation. The pressure on individuals, governments and corporations is taking its toll, with the impact felt at macro … Read more