Despite ongoing concerns related to inclusion and sustainability, Africa’s long-term growth remains strong as the continent continues to benefit from a demographic dividend, better governance and increased industrialization.
In West Africa, indicators show that the Nigerian economy has begun a slow recovery following its first economic contraction in over 20 years. After December’s election, Ghana looks set to return to being a bright spot in the region. The new government’s economic strategy appears to have won investor confidence as the country recently accessed USD 2.2 billion on the international bond markets and the cedi has started to strengthen. Côte d’Ivoire is emerging as one of the continent’s economic giants, with growth expected to be the highest in Africa this year.
Kenya remains East Africa’s largest economy, however a combination of upcoming elections and severe drought makes for an uncertain 2017. Tanzania and Ethiopia continue to show significant growth spurred by large infrastructure spending.
Despite these opportunities, the prospect of navigating often opaque and challenging legal landscapes can deter much needed foreign investment. Challenges related to new tax and regulatory regimes, difficulties in expropriating profits, uncertainty about employment and local content legislation or lack of clarity in real estate laws all represent significant business risks to foreign investors.
This guide aims to provide legal and commercial professionals a high-level overview of key legal issues in 10 key African economies.