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.
As of the world’s top producers of many critical minerals, Africa is gearing up for its role in powering global energy transition. Its vast critical mineral store, including cobalt, copper, bauxite, chromium, high purity iron ore, platinum group metals, lithium and rare earth metals, is in high demand globally. For Africa, the focus now is on the sustainable growth of its mineral mining operations and production facilities, so that the gains from its natural resources can be of benefit to the continent and its people.
As more of Africa’s power is generated via renewable energy, the need for reliable energy storage has become increasingly important for grid resilience and flexibility. This necessitates the mass adoption of energy storage as a balancing asset. As a result, numerous battery storage projects and initiatives are underway across the continent.
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.
The South African Department of Finance has published Directive 8 on the compulsory screening of employees for competence and integrity. Failure to comply means that such businesses will risk sanction, including a fine of up to ZAR 50 million. Accountable institutions must record how the screening has been conducted and keep records of the outcome of such screening, which must be made available to the Financial Intelligence Centre upon request. It has been stipulated that screenings should begin as soon as possible.
In a time of recession, competition law regulations do not change in their content or enforcement. On the contrary, it is vital for companies to remain compliant with applicable antitrust laws and continue their commercially independent behavior. We provided an overview perspective on key antitrust and competition trends for emerging markets including, Morocco, Egypt, Turkey, South Africa and Saudi Arabia in 2023.