Today’s global economy demands that businesses expand beyond borders, but they face hurdles from customs, as well as regulatory barriers in different countries and regions that make this expansion challenging. The South African Revenue Service Authorised Economic Operators programme offers numerous benefits for businesses trading within the regional market of the Southern African Custom Union and internationally. Such businesses include manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports, terminal operators, integrated operators, warehouses, distributors, and freight forwarders.
Almost half of the population of Africa does not have access to electricity. It is, therefore, critical for the continent to increase its access to a clean, decarbonized, decentralized energy supply.
To enable this energy transition, countries across the continent are implementing policies that take into account the energy crisis. Alongside other jurisdictions, they are also launching initiatives and providing funding, investments and grants for African renewable energy projects.
In June 2023, the Johannesburg Stock Exchange (JSE) proposed amendments to the JSE Listings Requirements including a new section which contains the listing requirements of the Black Economic Empowerment (BEE) Segment of the JSE. Among other things, these requirements include that trading in BEE securities must be restricted to a BEE-compliant person pursuant to the use of either a BEE contract or a BEE verification agent. The JSE has invited comments on the proposed amendments by 17 July 2023.
Hydrogen markets in Africa are expected to grow exponentially but there are still multiple barriers to the widespread development of decarbonized hydrogen. Each energy sector investment faces challenges in the form of infrastructure gaps, policy, regulatory, economic and financial barriers. A recent positive development in this regard is the announcement that a dedicated blended finance fund, SA-H2, has been launched to raise USD 1 billion for the construction of green hydrogen projects in South Africa. Once established, the SA-H2 will join the SDG Namibia One Fund to offer a blended finance solution for Southern African’s green hydrogen sector.
The African Growth and Opportunity Act (AGOA), which allows duty- and quota-free exports from eligible African countries into the United States, is due to expire in 2025. There has been much speculation that it might be replaced with new trade agreements between the two regions that will follow the free trade policies of the African Continental Free Trade Area agreement and the reciprocal trade initiatives promoted as part of the US’s Prosper Africa initiative. It has also been suggested that an evolved AGOA might be the way forward, creating an increasingly mutually beneficial trade relationship between the two regions.
Competition authorities the world over have observably expanded their consideration of transactions from applying a purely competition-focused lens to one that incorporates the broader needs of society. Many African merger control regimes have developed a competition policy approach that balances traditional competition law considerations with public interest concerns, especially in terms of market concentration, access to competitive markets for small and medium enterprises and employment considerations.
Our newly updated broad-based black economic empowerment (B-BBEE) guide provides a detailed overview of the regulation of B-BBEE in South Africa. The principal objectives of B-BBEE are to promote economic transformation and enable meaningful participation of black people in the South African economy through increased participation in ownership and management structures, increasing the involvement of communities and employees in economic activities and skills training.
South Africa’s newly enacted Employment Equity Amendment Act (EEA Act) includes changes to the legislation governing workplace transformation, as well stricter compliance measures for designated employers. Once in force, the EEA Act will oblige designated employers to prepare employment equity plans. It will be essential for such employers to align their plans to achieve the targets for the employment of black people under the broad-based black economic empowerment codes of good practice with their employment equity plans.
The annual quota for frozen bone-in cuts of the species Gallus Domesticus originating in, or imported from, the United States has been increased from 71,290 tonnes to 71,632 tonnes, with retrospective effect from 1 April 2022.
Join us for a four-part webinar series as our US moderators welcome colleagues from around the globe to share the latest labor and employment law updates and trends. US-based multinational employers with business operations in Asia Pacific, Europe, the Middle East and Africa, and the Americas regions will hear directly from local practitioners on the major developments they need to know, and come away with practical tips and takeaways to implement.