A recent case before the South Africa Competition Tribunal looked at the excessive pricing of breast cancer treatment. This led to the question as to whether a violation of competition law should automatically be considered a violation of the Constitution.
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
The amended Automotive Production Development Programme was recently released by the South African Revenue Service with the aim of growing the automotive industry. In recent years, the automotive industry has been proactive in its approach to the new regulations, with substantial investments being made in the sector.
On 4 February 2022, the Dubai International Financial Centre Office of the Commissioner of Data Protection announced that the commissioner issued an adequacy decision recognising, among others, Singapore’s Personal Data Protection Act for safe data transfers from the DIFC. This is a welcome development as it facilitates cross-border personal data transfers from the DIFC to Singapore, which can in turn strengthen business ties between the two territories.
The leveraged finance market in 2021 saw record-breaking levels of activity, mainly driven by private equity M&A and LBOs, comprised mainly of opportunistic deals or ones which had previously been put on hold. The report looks at how the EMEA leveraged finance market is responding to COVID-19 challenges, the emerging market and ESG. It also covers predictions on direct lending, the impact of new Fintech options, and the effect of rising interest rates.
The UAE Ministry of Finance has announced the introduction of a corporate tax regime that will apply to businesses. It will become effective for financial years starting on or after 1 June 2023. The headlines are that the tax rate will be 0% for taxable income up to AED 375k and 9% on taxable income above AED 375k. Large businesses (expected to be those with revenue above EUR 750m) may be subject to a different tax rate (potentially 15%) in line with the Pillar Two OECD BEPS project.
The Labor Appeal Court in South Africa recently considered the binding nature of confidentiality agreements in the workplace. Both employers and employees should note that the courts will consider each case on its merit and will consider the scope and reach of the agreement, and the substance of any disclosure that breaches this undertaking.
In December 2021, the existing exemption that excludes medical devices and in-vitro diagnostics from the application of sections 18A and 18B of the Medicines and Related Substances Act was extended. This extension means that suppliers of medical devices and in-vitro diagnostics are permitted to supply their products according to bonus, rebate and incentive systems for another three years.
The UAE has introduced a number of new welcome legislative changes to mark the UAE’s 50th anniversary, with the aim of solidifying the country’s position as a global trade and commercial hub. Among these changes is the issuance of Federal Law by Decree No. 32 of 2021 on Commercial Companies (“New Law”), which has now come into force last 2 January 2022.
The long-awaited Decree-Law No. 33 of 2021 on Regulation of Labour Relations is among a number of new legal developments introduced recently in the UAE. On Tuesday, 7 December 2021, the UAE Government announced that effective 1 January 2022, Federal Government entities shall operate on a 4-and-a-half day working week, with the weekend set to start on Friday afternoon and include Saturday and Sunday.