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In a three part series, we discuss the practicalities and policy surrounding the use of coal-fired power stations in Africa. In the first post, we explore the changing landscape of coal-fired power.
Nigeria’s minister of finance, Kemi Adeosun’s, recent call for a boost in infrastructure investment presents a key opportunity for the private sector in Nigeria
The Democratic Republic of the Congo (the DRC) is one of the largest countries in sub-Saharan Africa. It is also one of the richest in natural resources, a substantial proportion of which are still untapped.
In a far reaching judgment delivered on 19th December 2016, the High Court has declared that the registration forms as well as forms of titles including leases, title deeds, grants and certificate of title...
Transparency and accountability in corporate governance are fundamental principles of environmental management in South Africa.
The new general authorisation for section 21(c) and (i) water uses published in August 2016 (the New GA) replaces the need to obtain a water use licence for these water uses in certain circumstances.
In 2013, the Obama administration launched Power Africa, a multi-faceted five-year financing and professional services initiative. The initiative aimed to double access to electricity in sub-Sahara Africa.
In Part 1 , we looked at the key factors making South Africa an attractive arrest jurisdiction. In this Part 2, we discuss how South Africa’s laws on the distribution of proceeds following maritime creditors.
South African admiralty procedures provide a powerful protection mechanism for local and foreign creditors who have claims against shipowning interests.
The final part to the enforcing arbitration awards and English court judgments against Ghana series looks into the practice and PPP and tender processes.
Following on from part 1 of the enforcement of arbitration awards, part 2 highlights the enforcement of English court judgements.
Once a favourable arbitration award or judgment has been rendered, investors in Ghana face certain hurdles when it comes to enforcement. We explore these in a series of three blog posts.
Given that cyber-security is one of the most relevant issues in civil aviation today, it is no surprise that multiple stakeholders, addressed the development of a global framework for cyber security.
South Africa has become a preferred destination for ship arrests and as a result there has been a surge in the judicial sale of ships.
Uranium has long been considered the bogeyman of the energy industry, but with the election of Donald Trump and Kazakhstan’s plans to curb supply, times may well be changing for this controversial commodity.
Anyone undertaking building works should be cautious when entering into bespoke contracts with building contractors, instead of one of the standard-form contracts available in the building industry.
Niger suffers from a weak GDP (USD 7.143 billion in 2015; around 0.01 percent of the world economy), and according to the World Bank only 14.4% of the population has access to electricity.
The European Investment Bank (EIB) has recently published a report on Banking in sub-Saharan Africa: Recent Trends and Digital Financial Inclusion.
Together with EY. we have authored a report for the World Business Council for Sustainable Development (WBCSD) looking at Corporate Renewable Power Purchase Agreements (PPAs).
Oil rich Gabon in central Africa re-joined OPEC (Organisation of the Petroleum Export Countries) at the beginning of July 2016, with a view to boost its oil production.
The OHADA Uniform Act relating to Commercial Companies and Economic Interest Groups was revised in 2014. Key changes included the introduction of a Société par Actions Simplifiés.
The memo describes the scope of the LNG-to-power IPP Programme for prospective and interested bidders and highlights the opportunities the programme presents to the bidders and to the South African economy.
Angola’s ratification of the New York Convention is an invitation to foreign investors to start spending in the oil rich country struggling to maintain its balance sheet.
On 14 September, Uhuru Kenyatta’s Kenyan government shocked the banking industry by passing the Banking (Amendment) Act 2016.
The residential construction industry in Ghana is a market with huge potential for growth. The population increases by around 565,000 people every year, bringing a corresponding need for more housing.
The Governor of the Reserve Bank of Zimbabwe (RBZ), Dr Mangudya announced on the 15 September 2016, that “bond notes” will be issued by the end of October.
The Democratic Republic of Congo (DRC) is considered to hold considerable crude oil reserves - perhaps 6% of the entire African continent’s reserves.
The role that rail transport plays in the movement of both people and freight in South Africa is undergoing significant change in the face of increased demand.
Investors are currently negotiating with the government of Ethiopia to establish acceptable dispute resolution procedures to govern disputes that might arise in the context of the significant infrastructure.
Ethiopia is currently high on the investment agenda. At the Global African Investment Summit in London in December 2015, it was highlighted as one of the models for development in Africa.
In Southern Africa, transportation relies on major transport corridors, which ultimately, depend on a limited number of key port states.
The government is about to launch an ambitious and extensive overhaul of South Africa’s shipping legislation to align it with modern practices and with the laws of the country’s major trading partners.
With more than $30 billion in African rail projects either in development or planning phases, rail infrastructure is going full steam ahead on the continent.
One of the keys to unlocking efficient and cost effective trade in Africa lies in striking the correct balance between the transportation of goods via road, rail and sea.
Following on from our previous blog post on trade and customs in South Africa, Part 2 explores the trade compliance and what needs to be done.
International traders and their brokers must be aware of the risks involved in trading and insuring commodities in the African market.
South Africa’s financial, trade and customs infrastructure is the most sophisticated in Africa and probably as advanced as most first world countries. And the laws are being updated.
The long-awaited, much-promised Bill to create a new regulatory agency – the Botswana Regulatory Authority (or BERA ) - to oversee energy matters in Botswana has been passed by the Parliament of Botswana.
Certain companies incorporated in, or doing business in, Africa will be impacted by recent legislation in the UK designed to provide law enforcement agencies with stronger tools to tackle modern slavery.
Zimbabwe abandoned the use of its own currency, the Zimbabwe dollar, in February 2009 and adopted a multi-currency regime.
African geothermal hit the headlines in July 2015, when during President Obama's visit to Ethiopia Ethiopian Electric Power and Corbetti Geothermal signed Ethiopia’s first independent power purchase agreement.
Investors in mining often structure investments to deliberately benefit from the protections of bilateral investment treaties. A key question is the value of the investment in the eyes of the arbitral tribunal.
Africa is experiencing various hurdles in its path to becoming a world agricultural superpower. So what is being done to support the countries most affected?
The scope of the existing PRA rules on contractual recognition is broad and in some circumstances, particularly in the trade finance context, compliance with the rules may be impracticable.
Brexit provides a unique opportunity for African nations to join together to leverage their position and collective bargaining power to negotiate more advantageous trade deals.
The first budget of the new President, Dr Magufuli, aims to encourage economic growth through job creation and industrialisation.
In this environment, investors operating on the African continent are trying to answer a complex and important question: how will Brexit impact Africa?
Riza Moosa comments on the challenges facing businesses following the UK’s vote to leave the European Union.
On 26 May 2016, in a bold move toward cross-border cooperation, the competition authorities of eight members of the Southern African Development Community signed a memorandum of understanding (MoU).
Since gaining independence from Great Britain in 1960, Nigeria, one of the ‘MINT’ economies, is often hailed as the emerging market to watch during the 21st century.
The NOOR PV I program, comprising three separate photovoltaic (PV) projects at different locations in Morocco, is the third round of procurement in Morocco’s Solar Plan.
Kathu Solar Park is a 100MW CSP plant using parabolic trough technology that will be equipped with a molten-salt storage system that allows 4.5 hours of thermal energy storage.
In the last year solar photovoltaic (PV) power projects have increased in size and number, with several reaching financial close in Sub-Saharan Africa – a high number in South Africa under the Renewable...
Norton Rose Fulbright has advised sponsors, funders, contractors and governments on the construction and operation aspects of solar photovoltaic (PV) and concentrated solar power (CSP) projects across Africa.
This briefing follows our briefing issued in August 2015 regarding the question of gas-to-power being an appropriate solution for South Africa’s electrical energy requirements.
Egypt’s demand for electricity has been growing rapidly due to increased urbanisation and economic growth and the need to develop power generation, including alternative forms of power resources is becoming...
The pact announced at COP21 last December, known as the Paris Agreement, does not require countries to meet climate targets but it does oblige all nations to at least subject their climate plans to public...
Is nuclear a realistic solution to meet the power demands of developing African nations?
Lawyers at Norton Rose Fulbright have a deep understanding of many of the available tools for managing political risk for projects in Africa.
What keeps the risk-return profile of investments unattractive and projects commercially unviable?
Since oil was discovered in Angola with commercial success in 1955, Angola’s oil industry has grown at a rapid pace.
The “Paris Agreement” is being widely proclaimed as a historic deal and one that will inevitably lead to decarbonisation. It seems clear that the Agreement could herald a significant shift to a low carbon...
A captive power plant is a plant that supplies power wholly or primarily to one industrial customer (or a limited number of industrial customers), rather than to a utility.
Morocco benefits from a good strategic geographic position and political stability, especially when compared with its neighbors in North Africa and the Middle East. This makes it an attractive jurisdiction.
…was the catchy theme of the African Global Business Forum held last November in Dubai. Dubai is successfully positioning itself as the main international hub for trade with the African continent.
From Egypt to South Africa, Kenya to Morocco, LNG-to-power has been and is being either implemented or considered as an important component in Africa’s energy mix.
We are standing at the dawn of a new era. Over the last 10 years, the solar PV industry has defied the sceptics and has gone from being a cottage industry to a major disrupter to all traditional energy sources.
The former chief economist of the African Development Bank, Professor Ncube, has forecast that growth in Africa will decrease to 4.5 per cent during 2015 and is unlikely to rise to more than 5 per cent next...
The current commodities cycle and related economic risks continue to contribute to suboptimal levels of investment in mining in Africa. Zambia proposes to boost investment incentives by changing its tax regime
Obtaining conventional bank loans is still proving to be problematic for both foreign and local companies importing or exporting goods into or out of Africa.
The Zimbabwean Minister responsible for indigenisation published General Notice 9 of 2016, the “Frameworks, Procedures and Guidelines for Implementing the Indigenisation and Economic Empowerment Act".
This series will aim to locate the jewel in Africa’s crown. We focus on the enforcement of foreign arbitral awards, which is a key factor for investors considering potential markets in which to invest.
Driven by the need for a progressive and globally appealing financial sector Uganda recently enacted the Financial Institutions (Amendment) Act 2016 to amend the Financial Institutions Act 2004.
African Development Bank (AfDB) announced that between 2016 and 2017 it hopes to triple the level of support it provides to Mozambique. This would mean funds of around US$1.7 billion earmarked for Mozambique.
With a population of a mere 875,000 and a GDP figure of $1.58 billion, the state of Djibouti rarely makes international headlines. But things are changing.
South Africa’s current radical approach to investment protection is raising questions amongst foreign investors.
Lower commodity prices made 2015 a somewhat challenging year for project finance but despite the negative outlook, African deals are still being brought to market, securing finance for longer term investments.
The interplay between energy storage technology and renewable energy generation is particularly relevant in Africa as it holds the potential to unlock economic growth.
Despite the continent’s potential to become a major agribusiness player, the regulatory environment is not yet supportive enough to attract large investments.
African Development Bank President, Akinwumi Adesina, described energy as ‘the lifeblood of any society and the passport to economic transformation’. Creating energy to light up Africa is high up on the agenda.
In January, the African Development Bank (AfDB) launched the ‘New Deal on Energy for Africa,’ an ambitious plan to light up Africa.
For the first time in its 23–year history, the next Tokyo International Conference on African Development (TICAD) will be held on African soil in Kenya.
Good news for UK financial institutions doing business in Africa under local law contracts.
The lack of formal grid infrastructure across the African continent has created an opportunity to develop off-grid and mini-grid solutions which can assist in bringing power to rural and isolated communities.
In the latter months of 2015, signals were given from Zimbabwe Government circles to the effect that Zimbabwe’s indigenisation policy, and the manner of its implementation, would be clarified in the New Year.
Those located in the 17 OHADA jurisdictions in West and Central Africa have a new tool at their disposal: the possibility of a super secured senior position for creditors providing new money.
Of the major African economies, Nigeria has been hit hardest by the fall in oil prices. For those who remember Nigeria’s economic pressures of the 1980s, this will feel like déjà vu.
The combination of the three words ‘Africa’, ‘commodities trading’ and ‘piracy’ would have had four years ago everybody talking about piracy off the coast of Somalia.
The Government of Zimbabwe in December 2015 published a draft bill targeted at promoting exploration and marketing of minerals. The Bill has caused excitement in the market.
300GW of renewable energy capacity by 2030. This is the ambitious target which the Africa Renewable Energy Initiative (AREI) has set itself to boost renewable energy investment and bring power to 645m people.
The Electrify Africa Act has been signed into law by U.S. President Barack Obama. The bipartisan legislation codifies promoting access to electricity and power development in Africa as a long-term U.S. foreign.
Recent changes to the laws on the financial provision for closure and rehabilitation of mining operations represent a major step in enhancing the principle of sustainable development.
At the end of 2015, the Loan Market Association and the Loan Syndications and Trading Association published suggested clauses for the contractual recognition of EEA regulators’ bail-in rights.
Africa has a great potential to become a major source of world food supplies. The lack of suitable regulation however remains one of the main impediments to Africa’s growth.
An issue that remains a continuing subject of literature and debate is accessibility, pricing and affordability of medicines in Africa.
From 1 January 2016, financial institutions established in EEA member states (and their overseas branches) are required under Article 55 of the Bank Recovery and Resolution Directive (2014/59/EU) (BRRD), to...
A growing diversification of Chinese investment beyond the natural resources sector provides a counter balance to fears of contagion arising from reduced trading volumes in Africa.
Martin McCann and Raj Karia discuss the evolution of Norton Rose Fulbright’s work in Africa and explore the opportunities and challenges that lie ahead.
Export restrictions on raw materials
How extreme weather in Africa may impact our contracts.
The Nigerian government recently changed its strategy to overhaul the country’s petroleum regulatory framework, proposing a new regulator and splitting the country’s state oil giant in two.
The power shortages and consequent economic difficulties faced by sub-Saharan Africa may slowly begin to improve after the U.S. Senate gave its nod to the long awaited Electrify Africa Bill in December 2015.
From 1 January 2016, EU financial institutions active in Africa will need to include a new clause in their non-EU law governed loan agreements, trade finance instruments and other agreements.
Ghana has had a National Policy on Public Private Partnerships (PPPs) in place since 2011, and a draft PPP Bill is currently making its way through Parliament.
Africa’s abundance of natural resources has made it extremely attractive to mining companies.
We will be producing a series of blog posts assisting clients looking to invest in Africa with achieving maximum return from their investments.
A new OHADA Uniform Act on Insolvency will come into force on 24 December 2015 in 17 African countries
Guardian article highlights the speed of construction of the Rwanda 8.5MW solar PV project, but the project’s success was cemented well before construction.
Sweeping changes to mining legislation are taking place across French-speaking sub-Saharan Africa. We look at those changes
A short video on the challenges, opportunities and success stories on the path to unlocking the full potential of Africa’s aviation market.
Vast natural gas discoveries in East Africa are attracting global interest and investment and have given rise to complex and politically sensitive boundary disputes in the region.
A blog series on Local content and procurement requirements
The Global African Investment Summit’s Hardtalk session on the challenges of investing in Africa identified two key issues for understanding the misperceptions and overcoming the barriers for investment.
Agribusiness was one of the focus areas of the Global African Investment Summit, a two-day event attended by leading politicians and members of the business community.
MTN announced that the Nigerian regulators have agreed to reduce the US$5.2 billion fine against it to US$3.4 billion.
Improved regional stability and economic development bodes well for investors in West Africa.
A look at the benefits of RPAs on mining processes.
Despite a negative outlook, Angola is seeking structural reform to promote investment.
South Africa's ranking in the Doing Business Report exposes challenges for investment.
Africa's regional regulatory bodies are playing a greater role in reviewing mergers and investigating and prosecuting anti-competitive conduct.
What does the recent downturn in the Chinese stock market mean for investment in African infrastructure?
Sanctioning bodies may consider exempting trade in agricultural goods from sanctions. What does this mean for African agribusiness?
MobiNil’s sale to Eaton Towers of around 2,000 of its Egyptian towers has led commentators to predict a wave of new tower deals in North Africa over the next year.
The Dodd-Frank Act’s scope extends beyond financial regulation to touch on ‘conflict minerals’ sourced from the Democratic Republic of Congo.
The Loan Market Association (LMA) has launched a new South African recommended form of loan agreement and revised the East African and Nigerian recommended loan agreement.
A recent case has clarified the way in which the Ugandan government uses its powers of compulsory acquisition of private land for public purposes.
Norton Rose Fulbright (together with the IFC and FAO) to assist Africa’s fragmented farmers with introduction of agrarian receipts.
In the run up to COP21 taking place in Paris from 30 November to 11 December 2015, we have created an online resource summarising the Intended Nationally Determined Contributions.
African jurisdictions are increasingly the focus of foreign investors and often use local partner requirements as a policy tool.
After a long period involving heavy debate, 3 June 2015 saw the enactment of the Regulations for Petroleum Exploration and Production.
China's ‘Belt and Road’ initiative has the potential to open a raft of new development opportunities for African infrastructure, mining and power projects.
Morocco is highly dependent on imported energy and remains one of the largest net importers of hydrocarbons in North Africa.
Growth in Africa will decrease to 4.5 per cent during 2015 and is unlikely to rise to more than 5 per cent next year
Contract mechanisms such as 'force majeure' provisions respond to the unexpected, unpredictable and uncontrollable.
The mining and metals industry is going through a rough period, but there are good reasons to be hopeful for the future.
As investment in African agriculture grows, local small-scale producers have the potential to go beyond satisfying local market demands and look to global markets.
President Obama’s Power Africa initiative, launched in Cape Town 2013, promises to double electricity access in sub-Saharan Africa over the next five years.
Matthew Hardwick discusses how countries in sub-Saharan Africa are addressing the resource curse to encourage investment in the local manufacturing sectors.
The International Finance Corporation has partnered with Aldwych International and Six Telecoms to develop Tanzania’s first ever wind farm in the central town of Singida, north of Tanzania.
Mining companies based in West African jurisdictions are commonly faced with an obligation to repatriate revenues deriving from the sale of mined products.
The benefits (and challenges) of DFIs in African jurisdictions
By the end of 2015 voters in 14 African states are scheduled to have cast their ballots in general elections.
After years in which regional transmission lines have become congested and cross-border sales have declined, there are signs that change is finally on the way.
IFC initiative for Africa SPV projects.
For banks and corporations active in the mining and commodity finance market.
A look at OHADA's uniform law on security interests.
A look at the mining legislation framework in Senegal. First published in December, 2014. Test.
The sister Lesedi/Letsatsi projects won the PFI 2012 African Renewables Deal of
In order to develop non-fossil energy resources in Senegal, the state has authorised the development, construction and operation of the country's first wind farm project.
In today’s economic climate, the traditional project finance model based on high stable commodity prices and the availability of debt is being challenged.
A description of the EPCM procurement structure and some of the key issues that should be considered by any junior miner contemplating its use for mining infrastructure delivery.
A 2014 note on the main provisions of the exchange regulations governing CEMAC, the Central African Economic and Monetary Community (Communauté Economique et Monétaire de l’Afrique Centrale), adopted in 2000.
A brief description of streaming as a means of finance, explaining the common structures used and highlighting the benefits, risks and protections that exist for this approach to financing.
The case for shared use infrastructure in the mining sector in Africa: defining the issues facing governments, mining companies, third party infrastructure users, and funders; outlining the barriers to implemen
Telecoms infrastructure in Zambia – Ten things to know
Telecoms infrastructure in Malawi – Ten things to know
Telecoms infrastructure in Burundi – Ten things to know
Under the South African REIPPP Programme, South Africa has a target of 10,000 GWh of power generation from renewable energy sources. test
Across Africa, power projects are moving from traditional thermal to solar PV and CSP. Governments accustomed to procurement of thermal and hydro power projects are now encountering unfamiliar...
The handbook is a global quick reference guide for all those involved in the exploitation of unconventional gas resources.
A February 2014 note on draft amendments to Togo's mining legislative framework. The draft bill remains subject to change.
A briefing providing insight into the developing market of solar power in Sub-Saharan Africa and its capacity to address the energy deficit which exists in the region.
Acquisition by the Kann Consortium and West Power & Gas of successor distribution companies as part of the Nigerian power sector privatisation.
In 2005, the Nigerian government passed the Electric Power Sector Reform Act 2005 (EPSRA) with a view to encouraging private sector investment in the generation and distribution sub-sectors of the Nigerian powe
Mozambican mining law dates back to 2002 and is presently under review. Its revision is well overdue in addressing the developments in the sector and the changing dynamics of the mining industry.
Five sites have been selected for the development of solar power plants as part of the Moroccan Solar Plan, with the 500MW phase one solar power complex at Ouarzazate the first to be developed.
The project, undertaken by Addax & Oryx Group, involves the construction, operation and maintenance of a bioethanol plant with an annual capacity of 85,000,000m³ and a 32MW power plant.
The Kariba dam is situated in the Zambezi river basin between Zambia and Zimbabwe and dates back to 1958, when the damming of the Zambezi river resulted in the creation of Lake Kariba .
A 2014 note on Côte d’Ivoire's new mining code, looking at rights and obligations arising from mining titles (exploration and exploitation permits).
The government of Rwanda is targeting 563MW installed capacity by 2017 including from renewable energy sources.
A proper understanding of how security can be taken and how risk can be mitigated is of paramount importance to investors.
An in-depth reference guide looking at possible solutions to successfully securing finance for mining activities. First published in June, 2013.
A look at the potential sources of investors to mining projects and the approach to obtaining investment. First published in August, 2013.
In 2014, there was a marked upturn in interest in solar projects in the African market. Some project finance lenders have not financed solar PV previously, or not in sub-Saharan Africa, and are taking...
A guide to EPC and EPCM contracts for junior mining companies seeking to achieving a project structure that is bankable and delivers optimal returns. First published in June, 2013.
A 2014 note on draft amendments to Gabon's mining legislative framework, looking at rights and obligations arising from mining titles (exploration permits, exploitation permits and mining concessions).
A team from Norton Rose Fulbright's London office negotiated and drafted complex finance documents with the lenders, led by HSBC and Société Génerale and backed by export credit agencies CESCE and Euler Hermes.
We advised Abengoa Solar International and the Industrial Development Corporation as Sponsor’s and Borrower’s legal counsel in respect of their development, structuring, construction, operation and...
A look at amendments to the Guinean mining code introduced in 2013.
A briefing on alternative tools which can be employed by mining companies in financing their projects. First published in 2013.
There has been a marked upturn in interest in solar projects in the African market. This note outlines construction issues encountered in solar PV projects developed in Africa.
The resources sector was one of the hardest hit by the credit crunch. Drops in commodity prices and the absence of debt for project developments
South Africa’s mineral endowment is well known and covers precious metals (gold, silver, platinum group metals), precious stones (diamonds), base minerals (iron ore, chrome, manganese, coal, heavy mineral sands
A look at the use of local partners In African jurisdictions. First published in February, 2014.
South Africa is facing a growing energy crisis. In the absence of significant proven gas reserves, it will need to import LNG to support the development of power generation capacity.
A look at the legal and economic implications of export restrictions and their impact on resource exploitation across Africa. For potential investors considering the viability of investment in process industrie
On a daily basis the sun provides about 10,000 times more energy to the world than we consume.
An examination of the infrastructure challenges facing Sub-Saharan African countries and the initiatives to solve those challenges.
A global overview of the potash market with a brief mention of developments in Ethiopia and the Republic of Congo
This content was first published in the 2014 edition of Cultivate, our quarterly food and agribusiness newsletter.
An examination of the ways in which Sub-Saharan Africa's smallholding farmers can use private sector investment and increased cooperation amongst rural producers to grow the region's agribusiness sector.
A look at recent mining legislation reforms in West Africa and its potential impact on the local economy and foreign investment.
An outline look at the specialised tower company business model
For developments and trends impacting brands.
For legal issues surrounding consumer product law in the United States.
Data protection legal insight at the speed of technology
For Canadian M&A developments
For South African perspectives on Banking & Finance and Insurance law
For international financial services regulatory developments
For employment and labour law issues
For leading insight on legal developments in the healthcare industry
Understanding the legal challenges and implications surrounding hydraulic fracking
Australian perspectives on global insurance markets
For the latest developments in intellectual property (blog in French)
For analysis of USPTO post-issuance proceedings
For the legal implications of social media
For developments in special situations law in Canada