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.
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.
The Kenyan Government, in its latest Finance Act 2022, has enacted some key changes in the area of direct tax. This article, written by Francis Mayebe, Candidate Attorney in Johannesburg, and Virusha Subban, Partner and Head of the Johannesburg Tax Practice, highlights an important update on the country-by-country reporting threshold for multinational companies.
The recently signed United States-Kenya Strategic Trade and Investment Partnership focuses on enhanced engagement, increased trade and investment, and sustainable and inclusive growth that is beneficial to both countries. The agreement aligns with the US’s renewed Prosper Africa initiative, announced a year ago.
To highlight data security and privacy laws and developments that are already in place, or in progress, in Africa, the new Baker McKenzie Africa Data Security and Privacy Guide outlines information on country-specific data privacy and security laws in 11 countries in Africa – Ghana, Kenya, Madagascar, Mauritius, Morocco, Nigeria, Rwanda, South Africa, Togo, Uganda and Zimbabwe