The Nigerian energy sector is in the midst of significant transformation, with wide-ranging activities across oil, gas, electricity, and renewable energy. Key drivers of this shift include regulatory reforms, international divestments, gas sector investments, and efforts to modernise the electricity market. International Oil Companies (IOCs) are divesting from Nigerian onshore assets, creating new opportunities for local and regional players. Simultaneously, Nigeria’s gas sector is seeing increased investment through major infrastructure projects.
Insight type: Article
Strengthening Resilience: Catastrophe Bonds and Emerging Risks
In recent years, Nigeria has been increasingly exposed to various natural disasters, including flooding, droughts, and disease outbreaks, which have taken a toll on its economy and population. According to the United States Government’s Nigeria Complex Emergency Fact Sheet,[1] seasonal heavy rains and subsequent flooding had adversely affected more than 157,000 people and displaced an estimated 68,000 people across Nigeria as of October 2023, exacerbating already high levels of humanitarian need and requiring urgent food and shelter assistance.
Assessing the Implementation of the Kenya-EU EPA and Its Broader Economic Impact
The Kenya-EU Economic Partnership Agreement (EPA) officially entered into force, marking a significant milestone in the EU-Kenya Strategic Partnership. The EPA is aimed at boosting trade in goods between Kenya and the European Union (EU) as well as promoting mutual economic development. This legal update delves into the EPA’s background, its effects on Kenya-EU trade, and its relation to commitments within other trading pacts.
The Future of Arbitration in Africa: Overcoming Challenges and Embracing Opportunities
Arbitration remains the most preferred method of resolving commercial disputes in Africa. While Africa has a substantial number of arbitral institutions, it is ordinarily expected that Africa-related disputes would be resolved within the continent to enhance the growth of arbitration and build trust in these institutions.
Insights and Perspectives on Navigating Africa’s Foreign Exchange Landscape
Africa’s foreign exchange (FX) landscape is a complex yet evolving domain, marked by significant challenges and notable progress. While the continent lags behind other developing regions in financial development indicators, it has made strides in integrating with the global economy and enhancing the resilience of its domestic capital markets. However, issues such as hyperinflation, currency volatility, and foreign exchange scarcity continue to pose substantial hurdles, necessitating innovative solutions and collaborative efforts to navigate these persistent financial challenges.
Navigating East Africa’s Data Protection Framework: A Guide for Investors in Kenya, Uganda and Tanzania
The number of data protection laws in Africa has more than doubled in the last decade, and a third of these laws were passed in just the last five years. Kenya, Uganda, and Tanzania have each adopted data protection legislative frameworks modelled on the European Union’s General Data Protection Regulation (GDPR) and have each set up regulatory authorities to drive compliance and enforcement.
Understanding the specific data protection frameworks in Kenya, Uganda, and Tanzania is critical to ensuring compliance and minimising risks in East Africa. This article summarises the key aspects of the data protection laws in these three countries, focusing on compliance requirements, regulatory authorities, and cross-border data transfer guidelines.
Ball & Chain: Impact of the EU Corporate Sustainability Due Diligence Directive on African Businesses
On 15 March 2024, the Council of the EU approved the final text of the EU Sustainability Due Diligence Directive (the Directive). The Directive requires EU member states to introduce mandatory obligations for qualifying EU and non-EU companies to integrate environmental and human rights due diligence into their global operations and value chains. The Directive also requires the integration of riskbased due diligence into the activities of all.
Ethiopia’s New SEZ Proclamation: Unlocking Investment Opportunities
The strategy of mobilising capital from foreign investors through setting up effective industrial parks has been adopted as government economic policy for some time. It was formally introduced as part of Ethiopia’s first Growth and Transformation Plan I. Fostering industrialization was also one of the development priorities under GTP-II, (2016-2020). The Ethiopia 2030: The Pathway to Prosperity – Ten Years Perspective Development Plan (2021 – 2030) targets an annual growth rate of 13 percent over the ten years with the manufacturing sub-sector constituting 20 percent. The Ethiopian Industrial Development Strategic Plan (2013-2025) also provides a policy direction to establish an industrial zone development program. The Strategic Plan focuses on the development of integrated economic development zones that build and develop industrial parks, business centres, as well as residential areas for employees.
Recent Developments Shaping Kenya’s Betting and Gaming Sector
The betting and gaming landscape in Kenya is undergoing significant shifts, with the Kenyan Government implementing new regulations in a bid to regulate the sector. From higher taxes to stricter advertising regulations, these measures are reshaping the industry.
Key Arbitration Caselaw Developments in Uganda
Uganda’s legal system follows the common law tradition where binding legal rules are gradually developed by a hierarchical judiciary that interprets and applies the Ugandan Constitution, statutes passed by Parliament, applicable international treaties, subsidiary laws, the English Common Law and doctrines of Equity, and in limited circumstances, local customary law.