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Middle East – Africa

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On 25 August 2021 the EU Commission published guidance on the transitional rules of origin in the pan-Euro-Mediterranean area. The EU is currently amending 21 origin protocols within the pan-Euro-Mediterranean area by implementing an alternative set of rules of origin which will apply alongside the rules of the Regional Convention on pan-Euro-Mediterranean preferential rules of origin.

Trade under the African Continental Free Trade area is now underway and 36 countries, and counting, have ratified the agreement. Countries including South Africa and Ghana are early beneficiaries of the agreement due in part to their existing customs infrastructure. The agreement has many benefits and is expected to drastically boost the continent’s post-pandemic recovery, but there are still many challenges to overcome.

The African Continental Free Trade Area (AfCFTA) is one of the largest trading blocs in the world. The agreement establishing the AfCFTA has been signed by 54 out of the 55 member states of the African Union (AU), and ratified by at least 30 of them with 28 having deposited their instrument of ratification as of the date of this writing.

Wildu du Plessis, Partner and Head of Banking & Finance, and Marc Yudaken, Corporate/M&A Partner , in Baker McKenzie Johannesburg, discuss current trends in private equity investment in Africa, the opportunities and challenges available to PE investors, and what might change in a post-pandemic environment. African private equity (PE) investment…